Prophix

Score8.5 out of 10

426 Reviews and Ratings

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Prophix

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What is Prophix?

Prophix One, a Financial Performance Platform, is used to improve the speed and accuracy of decision-making within a harmonized user experience. To reduce complexity and uncertainty, the software offers automated insights and planning, budgeting, forecasting, reporting, and consolidation functionalities.

Categories & Use Cases

Media

Screenshot of Prophix One Portal: One single point of entry into Prophix One through its portal simplifies access and authentication but also allows seamless movement between applications.

Screenshot of Chart Insights, one of the AI Insights capabilities that utilizes Artificial Intelligence and Natural Language Processing to provide enhanced business awareness. Chart Insights extends the important details contained within dashboards, and analyzes the complete dataset behind the dashboard, automatically surfacing the data relationships not obvious in dashboard visualizations alone. It then provides a summary of key performance metrics found buried within Prophix charts. It also summarizes the important insights in plain English.

Screenshot of Prophix One Financial Planning & Analysis: Prophix's self-serve dashboards and visualizations are directly integrated with data, workflow tasks, announcements, and external URLs and databases. Dashboard Studio helps users to be informed and make better business decisions.

Screenshot of Detailed interactive charts and graphs that Prophix offers to uncover insights. Prophix’s visual analytics are linked directly to data with transaction details. There is no need to input the numbers. Prophix does this tedious work, automatically.

Screenshot of Prophix’s Workflow Manager, used to assign tasks to users and facilitate approvals across the business. Stakeholder input can be captured directly with the ability to add comments and notes in a single unified database.

Screenshot of Cell Comments, that allow users to add supporting details like notes and attachments to data. Since comments are stored with the data, they can be viewed in any template along with their trailing history. Cell Comment Reports can also be generated to show all comments from any data view in one convenient report.

Screenshot of Prophix One Account Reconciliation: Software that streamlines financial close, empowering the Office of the CFO to make data-informed decisions. The centralized platform ensures an efficient process for reconciling dispersed data.

Screenshot of Prophix One Financial Consolidation: Developed to meet the unique requirements for a streamlined month-end close process. Leveraging best practices, it removes the complexity of consolidation by automating processes like multi-currency translations and sub–consolidation, ensuring multi-GAAP and IFRS compliance to reduce the need for expensive customizations. Regardless of group structure, depth, or unique chart of accounts, Prophix can execute complex account consolidations.

Screenshot of Prophix One Intercompany Management: Eliminates manual data collection hassles and errors involving multi-entities and multi-currencies by integrating disparate data sources into Prophix One and automatically structuring the data to elevate financial accuracy. By automating data imports and using intelligent data mapping with built-in validation rules, Prophix One ensures a smooth and reliable data collection process.

Screenshot of ESG Reporting: For addressing NFRD regulations, GRI standards or preparing for CSRD requirements, Prophix One reporting centralizes data from diverse environmental, social, and governance business systems.

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Screenshot of Prophix One Portal: One single point of entry into Prophix One through its portal simplifies access and authentication but also allows seamless movement between applications.

XBRL support for regulatory filing
Support for the XBRL standard reporting format for exchanging financial data.
Category average: 7.1
Responsive Design for Web Access
Web design aimed at producing easy-to-read sites across a range of different devices.
Category average: 7.2
Local and consolidated reporting
Ability to report against individual business entities and the consolidated umbrella entity.
Category average: 7.8

KPIs
Select from a library of more than 6,000 key performance indicators, and incorporate KPIs into your planning process.
Category average: 7.8
Scenario modeling
Financial or operational modeling of alternate future states and planning for each.
Category average: 8
Formatting capabilities
Ability to format output e.g. conditional formatting, lines, headers, footers.
Category average: 7.6

#1 most frequent

Manufacturing

18.8%

131 installations of 698

“Exceptional budgeting tools”
— Staff Accountant, Gaylor Electric (1001-5000 employees)

#2 most frequent

Health Care and Social Assistance

11.0%

77 installations of 698

“It streamlined our budgeting process and allowed us to rely less on manual excel inputs”
— Director of FP&A, Legacy Lifecare (201-500 employees)

#3 most frequent

Professional, Scientific, and Technical Services

10.5%

73 installations of 698

“Our primary use of Prophix is for budgeting and forecasting.”
— VP Finance, Numeris (201-500 employees)

Michelle Lindsay, CPA View profile

Assistant Controller in Finance and Accounting at St John Fisher University (501-1000 employees employees)

Use Cases and Deployment Scope

Prophix was implemented to assist with financial reporting and budgeting. We currently use it specifically for pushing out reports to our budget managers as well as collecting their OpEx budget requests for our budget. We also use a revenue planning model and a personnel planning module. It helped address the human error of working strictly in excel.

Pros

Robust financial reporting
Ease of use/mimicking excel for formulas
CSP is clutch when we have questions

Cons

Moving us around in our pods for CSP is frustrating
Implementation needs to make sure to pair team with knowledge of industry, seems like Higher Ed is a struggle
Cater this conference to not just decision makers in the room. Some of us are the users/super users and want more hands on sessions

Return on Investment

Faster year end audit workbook prep
Streamlined budget process
Eliminate a lot of human error

Usability

Other Software Used

Ellucian Banner, Balance, Unimarket

Stephen Crowley

Controller in Finance and Accounting at Furman Foods (201-500 employees employees)

Use Cases and Deployment Scope

Furmano’s currently uses Prophix as a centralized repository for actual financial results, forecasts, and budgets, as well as a platform for building comparative analytics and preparing financial statements. The system supports the company’s need to develop presentations, analyses, and reporting for both internal leadership and external stakeholders. Our primary use case is within the finance function, where the platform is used to organize and consolidate financial data across multiple reporting needs. At present, however, the team primarily uses Prophix for data management and extraction. Data is frequently exported into Microsoft Excel and Microsoft PowerPoint for additional manipulation, reporting, and presentation development. One of the key opportunities for improvement is additional user training and adoption. Our finance team would benefit from a deeper understanding of the platform’s full capabilities so we can better utilize Prophix as a true single source of truth and integrated reporting solution, rather than relying heavily on downstream manual reporting processes.

Pros

Financial Statement modeling.
Budgeting
Comparative analysis.

Cons

Provide preexisting templates that can be modified rather than build from scratch.
Provide more hands-on training for beginner and advanced users.

Return on Investment

Standardized reporting.
Efficient way to aggregate data.

Usability

Other Software Used

BNA, Avalara

Matt Thomas

Senior Tax Manager in Finance and Accounting at Encore Electric, Inc. (1001-5000 employees employees)

Use Cases and Deployment Scope

We use Prophix for financial reporting, budgeting, and job cost tracking. Prophix provides much more flexible report building and presentation than our ERP. The product is extremely flexible and we are looking to increase our usage of it for a variety of different financial initiatives within our organization.

Pros

Pulling data from our ERP into excel like templates that streamlines processes such as job forecasting
Centralized budgeting that gives organizations financial leaders one version of the truth
Workflow visibility that allows managers to track progress on items such as financial reconciliations that require multiple people to perform tasks to complete such reconciliations

Cons

Current AI copilot in FPA plus is useful but could do things better such as creating templates or completing specific tasks (agentic features). However, in fairness, these features do not perform well across most AI platforms (such as Microsoft's regular Co-pilot AI

Return on Investment

Streamlining our budget process has been a nice ROI. Look forward to how FPA+ further streamlines the process in the initial budget cycle after the upgrade

Usability

Okengo Traore

Portfolio Controller in Finance and Accounting at IMMOSEN (51-200 employees employees)

Use Cases and Deployment Scope

We use Prophix for budgeting, consolidating data, and running ad hoc reports. We also enjoy the smooth process of generating monthly financial statements and creating our yearly budget.

Pros

Ability to run custom reports the way we want.
Budgeting /forecasting.
Great possibilities of building own data views and reports.
Good analysis of complex data.

Cons

Format options are not always straightforward.

Return on Investment

Provide more flexibility of creating and running reports.
Makes budgeting and overall financial planning a breeze.

Usability

Other Software Used

IBM Cognos Controller, Tipalti

Jason Yoshimi View profile

CFO in Finance and Accounting at Hawaii Employers Mutual Insr Co (51-200 employees employees)

Use Cases and Deployment Scope

Budget and personnel planning.

Pros

Standardized budget templates.
Personnel planning at the employee level.

Cons

Navigating to find reports cumbersome.
Add UI to group reports.
Querying for a different time period requires hard coding set up.

Return on Investment

Streamlined annual budget process for finance.

Prophix

What is Prophix?

Categories & Use Cases

Media

Key Features

Top Performing Features

XBRL support for regulatory filing

Responsive Design for Web Access

Local and consolidated reporting

Areas for Improvement

KPIs

Scenario modeling

Formatting capabilities

Most Frequent Users

Manufacturing

Health Care and Social Assistance

Professional, Scientific, and Technical Services

Reviews

Use Cases and Deployment Scope

Pros

Cons

Return on Investment

Usability

Other Software Used

Use Cases and Deployment Scope

Pros

Cons

Return on Investment

Usability

Other Software Used

Use Cases and Deployment Scope

Pros

Cons

Return on Investment

Usability

Use Cases and Deployment Scope

Pros

Cons

Return on Investment

Usability

Other Software Used

Use Cases and Deployment Scope

Pros

Cons

Return on Investment

Usability

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