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https://dudodiprj2sv7.cloudfront.net/product-logos/qY/53/16BPDT5QHRXO.JPEGNeed something more powerful than a spreadsheet to develop your budget?Currently, we use Prophix to produce financial statements, forecast revenue monthly, forecast salaried personnel, and update quarterly and annual budgets. Prophix is being used by the entire organization at the management level. Prophix helps us to focus on where our revenue is currently coming from and helps us to focus on where the needs are in the future for additional personnel based on growth forecasts for our jobs.,Prophix provides us a place to drive specific data out of our ERP into a format where it can be analyzed in many different ways (across time, across departments, across accounts, etc.). Prophix gives us multiple ways to analyze the data that we have chosen. Along with data entry points for items in our goals or budgets, there are also ways to use formulas of different types to project future costs or revenues based upon assumptions that you program into the system. The "What If" can be built and then switched on or off to see the changes. Prophix doesn't limit the types or volume of data you want to analyze. If you have multiple years of data, it doesn't slow down because you have to keep using the same formulas over and over to churn out results. The formulas are separate from the data which allows the results to flow much faster than spreadsheets.,I think that Prophix could structure their support and offerings based upon the needs/skill level of their customers. Customers that don't have the expertise on staff could be given additional help to develop their use of the software. Those with a higher skill level could be shown the depth of the product to gain additional ideas on different ways or items to analyze. Thus, increasing their own knowledge base as a springboard for additional customers.,10,It has allowed us to keep to a one-day financial close, along with a shortened budgeting process. Our monthly revenue forecast is quick and painless. Completed by the entire operations group within 36 hours of our financial close.,Data integration is easily done via SQL tables and views and Excel files (I am sure there are other options but haven't needed to use any others). You can connect that data into Prophix and update it manually as often as needed or set it to auto-update on any type of schedule you would like.,We have moved our data onto a private cloud environment. This has helped us on an IT spend level. We moved it from an on-premise location. The flexibility of how we can hold our data and the software to analyze it takes one less thing out of the worry column.,10ROI - Rate of Irritation?In the past we have used Prophix for end of month and budget reporting. Currently, I am not using it because of industry-related staff reductions. Finance has been the sole user of Prophix. 2/1/19 Update I plan to dust off Prophix and get back into the Personnel Planning module in 1Q19. Lots of features that I want to explore and use for forecasting purposes.,The various dimensions allow you to "slice and dice" your data with great efficiency. The modeling functions are very helpful, whether planning for personnel or CAPEX. The Ad hoc reporting has been especially useful for quick reports. The functionality seems limitless. If you able to allocate resources to maximize Prophix you will not be disappointed; however, it does require some formula prowess to achieve results.,Part of the reason I am not currently using Prophix is the process to import the data from my ERP. Mastering the functionality of the software takes time. For me, I need to be in Prophix almost daily to build proficiency. Update- this still holds true.,9,When using it regularly, the eventual time-saving is 5x to 10x over other manual reporting or modeling. For me, the learning curve is too long. When my staff used it regularly, it saved 50% in time to report end of month financials.,My last usage was August 2016. If the import process has improved since then, I am not aware. I did find it frustrating to format my Excel data to process the import. There was room for improvement a year ago.,Today, deployment flexibility is more important than ever. Security remains a concern in any environment. I chose on-premises for database retention purposes.,10,,We did not use this function, but it is easy to setup and use. Our organization has budgeting centralized.,I had intentions of setting up the reports distribution and other repetitive processes, but initially focused implementation on on core budget functions.,2,,None at present.,ERP system and Payroll system.,File import/export,7,Plan ahead what you want to integrate and coordinate with Prophix Tech Support. They were always very helpful and efficient.,Ad Hoc reports were relatively easy to master. Building the cubes was easy once you understand the concept.,Importing data seems cumbersome to me. I think there has to be a better way to automate import refreshes of your data. RDX and calculations can be complex and cumbersome.,6,Global Shop Solutions One-System ERP, Microsoft Office 2016Affordable tool with growing user base. Easy to use.We use Prophix for managing our annual operating budget and projections.,Easy to use. Easy to set up views and templates. Runs reports for budget comments across departments. Integrates with Microsoft Dynamics. Allows users to drill into G/L detail Useful for analysis. Allows pivoting and cutting/slicing summaries and easily changing views to show leaf descendants of the members.,Slow. Opening a new view or entering a comment often has a several second delay. Should just be instant. Running a comment report takes almost a minute. Limited licenses - have to juggle number of users. Ad hoc view does not list your cost centers in a logical order and it is not as simple as a FRX frd file where the tree of cost centers is cleanly outlined and you can drill into levels of the tree without getting lost and having to go back to a long list. Ad hoc simply has a long list of cost centers that are not in order.,9,Saves time from doing a budget manually in a bunch of Excel spreadsheets which are prone to user error. More self-service - department managers can go into Prophix to look up G/L detail, budget comments, etc.,Haven't used it in years.,Haven't used it in years,8Prophix - the good and the otherWe use Prophix for budgeting and reporting budget to actual numbers, as well as some forecasting. It is used mainly by the business office, but dashboards have been created for executives and marketing. It facilitates a more granular approach to budgeting, as well as multiple perspectives on comparative analysis. It also facilitates presenting financials in multiple formats, as required by different reporting entities or foundations.,Provides a plethora of options for analyzing data, either numerically or graphically. Allows the user to get as granular as you like in creating budgets, and in creating mathematical relationships between related gl accounts. Can be applied & used across a wide range of departments. Useful for any type of data analysis whether numerical or other.,It would be nice if it had better integration with Quickbooks. As it currently stands, you have to use a third party program to "translate" the database from QB to SQL for Prophix to import the data. I spend more time than I like validating data, but this has more to do with the limitations and shortcomings of QB than Prophix. The process of updating the software is rather cumbersome and involved.,8,Still evaluating the ROI. It has minimized budget errors due to erroneous formulas which sometimes occur in spreadsheets Enabled the budget creation to be more effectively distributed among department heads, which has created more accountability.,In most cases the data import process is great. Quickbooks uses a database structure that doesn't seem to play well with Prophix, so a third party software package is needed to "translate". This creates added complexity, which in turn creates additional failure points. Once it is setup, in generally runs well.,This flexibility was one of the selling points for Prophix. The ability to host and manage the program on site was essential for us. But, understandably, other organizations might prefer the option of cloud hosting. We prefer that most of our applications be hosted onsite, but realize the trend moving to the cloud.,8,Domo,I haven't used the workflow component very extensively yet, so I haven't tried the commentary function for workflow. The line item detail function we use a fair amount. It is very helpful when additional granularity is desired for a single gl line of the budget. Cell commentary functions much like it does in excel, or any other spreadsheet program.,Automated report distribution has been very helpful for weekly reporting, or for compiling financials for board meetings. Once the templates are created and assembled into virtual binders, the process runs automatically as scheduled. I currently use the workflow feature for end of period closes, and will be implementing it for our upcoming budget cycle.,7,2,Quickbooks Qqube,Audience View ticketing/patron sofware other onsite databases,File import/export,7,Work with implementation team at the outset to create most of the integrations that you think you might want.,Creating ad hoc views of data workflow management Creating multiple versions of budgets,Updating the self-hosted version Editing KPI badge views Importing data from QB,9,QuickBooks Enterprise Solutions, Numetric, Microsoft 365 Business,9,9,8,9,8,Payment terms related to cost of software, implementation costs, and annual maintenance. We were able to negotiate adjustments to the initial software and implementation costs.,My biggest suggestion is to invest in the upfront training. We tried to save a few bucks by eliminating their recommended training hours, and I feel like it ended up taking us much longer to get up and rolling than it otherwise would have. Having a better conceptual understanding of how the product worked would have sped up the ROI.Prophix tackles the Quickbooks Reporting issuesProphix is being used as a reporting tool, we use it to pull data from QuickBooks into the financial tools that allow us to budget and compare actuals as well as forecast. We are currently growing our experience to include more users and expanding from QuickBooks to other financial software. Prophix will allow us to this seamlessly.,Financial Reporting Budgeting Forecasting What-if sceanrios,Clearer explanation of how to integrate Statistical Accounts,10,Positive ROI, eliminated countless hours on Excel based financial reports, budgets and forecasts.,Our main financial software as of now is QuickBooks, Prophix is the only software we found that would quickly and easily pull the data from QuickBooks including different QuickBooks databases and cross-reference to other third party in-house solutions we were using.,This is extremely important to us because our executive team is often travelling so they need to see the information in both scenaios.,10,Jet Reports and Qube,Our executive team and business leaders and staff have benefited from having data much quicker and being to anticipate issues to resolve. It is amazing to have data load and refresh when we need it especially when comparing actuals to prior month year, budget and forecast,Our company has several business lines with similar position so it is fantastic not only to segregate out results from a business line prospective but also from a positional prespective, A prime example would be our Business Development Consultant costs and revenues in one division compared to the same in another has really enabled us to develop better and more effective work practices.,16,1,Great Plains,We will likely look into integrating with a Fee Management tool,File import/export API (e.g. SOAP or REST),9,None,Data refresh Budgeting Forecasting,None,Yes,10,Microsoft Dynamics 365 (formerly Microsoft Dynamics CRM),10,10,10,10,10,Quick Training and turn around,None,Yes,No,Prophix was able to reset our training and roll-out after an extended period of staff turnover and inactivity as if we have always been active,Online training In-person training,10,10,Very easy system to continue learning from after initial training,Yes,Easier screen access Better report organization,More streamlined interface Better report organization,No,No,No,Price Product Features Product Usability Positive Sales Experience with the Vendor,We would use the same process,Implemented in-house,No,Change management was minimal,We had no issues the implementation was excellent,10,10,For accounting purposes, have a clear understanding of your chart of accounts and what reports you would like to have,Some - we have done small customizations to the interface,No - we have not done any custom code,Made use of the customized Dashboards
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Prophix
135 Ratings
Score 9.2 out of 101
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Prophix Reviews

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Prophix
135 Ratings
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Score 9.2 out of 101
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Andrew Commons profile photo
December 26, 2018

Prophix Review: "Need something more powerful than a spreadsheet to develop your budget?"

Score 10 out of 10
Vetted Review
Verified User
Review Source
Currently, we use Prophix to produce financial statements, forecast revenue monthly, forecast salaried personnel, and update quarterly and annual budgets. Prophix is being used by the entire organization at the management level. Prophix helps us to focus on where our revenue is currently coming from and helps us to focus on where the needs are in the future for additional personnel based on growth forecasts for our jobs.
  • Prophix provides us a place to drive specific data out of our ERP into a format where it can be analyzed in many different ways (across time, across departments, across accounts, etc.).
  • Prophix gives us multiple ways to analyze the data that we have chosen. Along with data entry points for items in our goals or budgets, there are also ways to use formulas of different types to project future costs or revenues based upon assumptions that you program into the system. The "What If" can be built and then switched on or off to see the changes.
  • Prophix doesn't limit the types or volume of data you want to analyze. If you have multiple years of data, it doesn't slow down because you have to keep using the same formulas over and over to churn out results. The formulas are separate from the data which allows the results to flow much faster than spreadsheets.
  • I think that Prophix could structure their support and offerings based upon the needs/skill level of their customers. Customers that don't have the expertise on staff could be given additional help to develop their use of the software. Those with a higher skill level could be shown the depth of the product to gain additional ideas on different ways or items to analyze. Thus, increasing their own knowledge base as a springboard for additional customers.
Prophix gives you a great ability to use your current financial data and forecast future revenues and expenses. This, by itself, is a great selling point alone. The additional level of data analysis ability pushes it over the edge. If the data is in your ERP and you want to know something about it, Prophix gives you a way to get that answer.
Read Andrew Commons's full review
Danny Jordan profile photo
February 01, 2019

Prophix: "ROI - Rate of Irritation?"

Score 9 out of 10
Vetted Review
Verified User
Review Source
In the past we have used Prophix for end of month and budget reporting. Currently, I am not using it because of industry-related staff reductions. Finance has been the sole user of Prophix.

2/1/19 Update
I plan to dust off Prophix and get back into the Personnel Planning module in 1Q19. Lots of features that I want to explore and use for forecasting purposes.
  • The various dimensions allow you to "slice and dice" your data with great efficiency.
  • The modeling functions are very helpful, whether planning for personnel or CAPEX.
  • The Ad hoc reporting has been especially useful for quick reports.
  • The functionality seems limitless. If you able to allocate resources to maximize Prophix you will not be disappointed; however, it does require some formula prowess to achieve results.
  • Part of the reason I am not currently using Prophix is the process to import the data from my ERP.
  • Mastering the functionality of the software takes time.
  • For me, I need to be in Prophix almost daily to build proficiency.
  • Update- this still holds true.
Prophix shines with its Personnel Planning Model. Once setup, the manipulation of parameters are excellent for evaluating the cost of personnel in unlimited scenarios. The budgeting and forecasting are particularly helpful.
Read Danny Jordan's full review
David Tulchinsky profile photo
February 01, 2019

Prophix Review: "Affordable tool with growing user base. Easy to use."

Score 9 out of 10
Vetted Review
Verified User
Review Source
We use Prophix for managing our annual operating budget and projections.
  • Easy to use. Easy to set up views and templates. Runs reports for budget comments across departments.
  • Integrates with Microsoft Dynamics. Allows users to drill into G/L detail
  • Useful for analysis. Allows pivoting and cutting/slicing summaries and easily changing views to show leaf descendants of the members.
  • Slow. Opening a new view or entering a comment often has a several second delay. Should just be instant. Running a comment report takes almost a minute.
  • Limited licenses - have to juggle number of users.
  • Ad hoc view does not list your cost centers in a logical order and it is not as simple as a FRX frd file where the tree of cost centers is cleanly outlined and you can drill into levels of the tree without getting lost and having to go back to a long list. Ad hoc simply has a long list of cost centers that are not in order.
Depends on what the needs of your business are. Prophix is a great budgeting tool and it avoids the headaches of more expensive options (i.e. Cognos which is not easy to use and requires consultants to modify even simple things).
Read David Tulchinsky's full review
Kevin Warnick profile photo
January 29, 2019

User Review: "Prophix - the good and the other"

Score 8 out of 10
Vetted Review
Verified User
Review Source
We use Prophix for budgeting and reporting budget to actual numbers, as well as some forecasting. It is used mainly by the business office, but dashboards have been created for executives and marketing. It facilitates a more granular approach to budgeting, as well as multiple perspectives on comparative analysis. It also facilitates presenting financials in multiple formats, as required by different reporting entities or foundations.
  • Provides a plethora of options for analyzing data, either numerically or graphically.
  • Allows the user to get as granular as you like in creating budgets, and in creating mathematical relationships between related gl accounts.
  • Can be applied & used across a wide range of departments. Useful for any type of data analysis whether numerical or other.
  • It would be nice if it had better integration with Quickbooks. As it currently stands, you have to use a third party program to "translate" the database from QB to SQL for Prophix to import the data. I spend more time than I like validating data, but this has more to do with the limitations and shortcomings of QB than Prophix.
  • The process of updating the software is rather cumbersome and involved.
If your budgeting process is mired in pages and pages of spreadsheets, or if you need to present the budget in multiple formats, Prophix would be a good fit. It is helpful if your accounting software uses a typical database structure such as (or similar to) SQL or MySQL that can be directly tied into Prophix.
Read Kevin Warnick's full review
Joel DeGroat profile photo
January 29, 2019

Review: "Prophix tackles the Quickbooks Reporting issues"

Score 10 out of 10
Vetted Review
Verified User
Review Source
Prophix is being used as a reporting tool, we use it to pull data from QuickBooks into the financial tools that allow us to budget and compare actuals as well as forecast. We are currently growing our experience to include more users and expanding from QuickBooks to other financial software. Prophix will allow us to this seamlessly.
  • Financial Reporting
  • Budgeting
  • Forecasting
  • What-if sceanrios
  • Clearer explanation of how to integrate Statistical Accounts
Prophix works well by pulling data from any source including QuickBooks and is capable of combining and re-sorting the data into very useful reports; the reports are user adaptable as the business changes.
Read Joel DeGroat's full review
Bryan Blount profile photo
January 23, 2019

User Review: "Short on IT, then choose Prophix"

Score 10 out of 10
Vetted Review
Verified User
Review Source

Prophix implementation is being managed in two phases: the first phase has focused on descriptive uses (i.e. real-time budget reports at the department manager level, P&L reports, income statements, balance statements). The second phase will focus on predictive reporting. We plan to add data inputs from our ERP system that will allow for a more in-depth budget forecasting capability.

Our business problem was the fact that our previous financial reporting platform, Microsoft Management Reporter, did not meet the needs of the business. We found, in addition to the possibility that MMR could be deprecated just like Microsoft's previous reporting system, FRX, had been deprecated, that Management Reporter (1) was difficult to develop new reports, (2) was restricted to an on-premise solution which requires resource expenditures - capital, physical infrastructure, and personnel, and (3) did not allow for real-time updates of end-user reports.

  • Prophix is web-based and can be linked to Active Directory authentication. This allows end users access to budget reports from any Internet accessible computer while still requiring authentication with your company's user credentials.
  • Prophix has a "drill across" function that allows an end user to easily display transaction details for any selected line item expense. Not only is detail provided for the current billing cycle, but all YTD details are displayed.
  • While the web page is a responsive web page (meaning the page size adjusts to the screen size of the device), it is not 100% responsive. This results in a less than desired user experience (in other words, accessing the web page on a phone is possible but can be a bit frustrating).
To be perfectly honest, I have yet to come across an instance when the Prophix platform has not outperformed our legacy platform.
Read Bryan Blount's full review
Michelle Ferris profile photo
January 21, 2019

Review: "Prophix saves our company time and money"

Score 10 out of 10
Vetted Review
Verified User
Review Source
We use Prophix on the finance team for budgeting, personnel planning, analysis, and financial statements. Prophix addresses several problems: it provides flexibility with respect to budgeting and reporting in fact, it completely replaced Excel as our budgeting and reporting tool. The dynamic nature of the Prophix tool is unlimited. As a marketing organization, we frequently evaluate where our marketing efforts are most profitable. Prophix allows customized reporting by revenue stream, giving us the ability to understand exactly where our efforts are either successful or unsuccessful. In financial statement preparation (alone) each month, Prophix saves my team hours of needless Excel work. Multiple iterations of an annual budget are a breeze with Prophix.
  • Prophix makes monthly financial reporting easier and faster than other software I have used.
  • Prophix makes personnel planning faster and more accurate than using spreadsheets.
  • Prophix makes budgeting and forecasting easier and more accurate than using spreadsheets.
  • Everything has room for improvement. I would like to see better graphing, but Prophix is already working on product development in this area.
It is well suited for organizations that store data in multiple programs or data warehouses. The personnel planning functionality is very helpful if you have multiple items that roll up into compensation and need to calculate them by employee/department. When you have multiple departments contributing to the annual budget, Prophix makes it very easy for the end user to participate in the process.
Read Michelle Ferris's full review
Jenny Balmes profile photo
April 16, 2019

Review: "Prophix is a solution that is all about the user and their experience"

Score 10 out of 10
Vetted Review
Verified User
Review Source
Right now, Prophix is being used by the Accounting and Finance departments. We are looking to expand to other divisions of our company. We originally had been looking for a program to solve our budgeting issues and constrictions. We have expanded our need and now use Prophix for many other applications.
  • Customer Support
  • Flexibility
  • User Friendly Program
  • Cloud export of data
Prophix is a great solution to get out of the Excel world of forecasting, budgeting and financial reporting. Prophix has the ability to customize financial reports and made the distribution of reports effortless and errorless. Prophix breaks out of the world of using Excel to generate forecasts and budgets. Excel works for these processes, however, there is an element of human error. Prophix removes that issue and makes the process extremely seamless.
Read Jenny Balmes's full review
Camila Zapata profile photo
April 16, 2019

Prophix Review: "Great Product!"

Score 10 out of 10
Vetted Review
Verified User
Review Source
Prophix currently being used by the entire Finance department for budgeting, forecasting, financial and utilization reporting. Thanks to Prophix, we have decreased the number of days spent doing these tasks.
  • Financial reporting- quick and very clean reports that can be easily accessed by all users
  • Forecasting- simple processes that allow us to do more consistent and accurate projections
  • Budgeting- great tool to budget based on historical data and also from the bottom up
  • Right now, it’s more internal training that our company needs in order to fully take advantage of the application
Any organization that has several users accessing financial and utilization data can greatly benefit from Prophix.
Read Camila Zapata's full review
Teresa Tang profile photo
April 16, 2019

Prophix Review: "Robust"

Score 10 out of 10
Vetted Review
Verified User
Review Source
We needed a program robust enough to provide financial results across the entire organization at a more granular level, a budgeting system that includes personnel planning, and, in the future, create incentive comp models currently housed in excel format. We want to be able to automate as many time consuming processes as possible.
  • Personnel planning
  • The ability to drill down to invoice level details
  • Adding alternate hierarchies fairly easy
  • Dashboard capabilities - be able to toggle between departments
  • More Charting options
Appropriate for personnel planning, actuals to budget reporting, and consolidations, and not appropriate for cost accounting.
Read Teresa Tang's full review
Jason Reitsma profile photo
April 16, 2019

Prophix Review: "Excellent reporting capabilities"

Score 10 out of 10
Vetted Review
Verified User
Review Source
Prophix is used throughout the organization at the executive and leadership level to view financial results and enter budget data.
  • Reporting - output board ready reports
  • Budgeting/forecasting - workflow helps keep the process moving along
  • Nothing that their customer service as not been able to us figure out
We chose it because of its superior reporting capabilities and streamlined budgeting workflow.
Read Jason Reitsma's full review
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April 16, 2019

User Review: "Prophix is excellent!"

Score 10 out of 10
Vetted Review
Verified User
Review Source
Our Financial Planning and Analysis department uses it to report on home office expenses company-wide. We also use it for budgeting company-wide. It replaced previous software that we use for budgeting that was in an unstable environment and not user-friendly. Prophix is much more intuitive and has a modern look. Our users appreciate the ability to look at expenses at a high level, and then if they have questions, they can drill across on those sums for detailed transactions.
  • Prophix allows non-finance employees to create their own reports so they can look at the expenses hitting their cost centers. They can view at a high level, or just click on the total to dive into the detailed transactions.
  • The Prophix consultants have been very patient and are extraordinarily knowledgeable about every aspect of the software. They can always answer our questions and if they aren't sure of the answer, they talk to their engineers and get back to us quickly.
  • We've had a few issues with our drill-across view being functional, but they are working to fix the issue. Other than that, I can't think of anything they should do differently.
Prophix has been great for expense reporting, budgeting, and we will also soon be using it for Project reporting and budgeting. Prophix was not built to show transnational detail on a large scale, so there are a couple ways of reporting that we haven't been able to do. Despite this, they are working with us to show our detailed transactions.
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No photo available
February 13, 2019

Prophix Review: "Flexible and cost effective mid market CPM solution"

Score 9 out of 10
Vetted Review
Verified User
Review Source
We primarily use Prophix as a tool to consolidate and present out our global financials. It is managed by our finance team with minimal involvement from IT. Our users are located throughout the globe in our network of agencies. We also use Prophix for global forecasting and budgeting. We use both on prem and cloud interfaces. Prophix has enabled us to use a single platform for our global planning activities and consolidated financial reporting.
  • The Web Client is great for a distributed user base.
  • The user interface is relatively intuitive and easy to work in.
  • Once implemented, the system is easy to administer so IT assistance is minimal. Potentially not needed at all in Web version (depending on config/design/business needs).
  • The Web Client is still being enhanced. There is certain functionality available in the on prem client that is not yet available on the web.
  • Formatting templates can be tedious.
  • Excel based interface is good but can be quirky when using formulas.
Consolidating financials and forecasting and Budgeting. The input templates are relatively easy to create and maintain. With good design (template and process), it can be a seamless tool to gather forecast and budgeting data from end-users and summarize for top-level reporting. Works well for multi-location/country organization (handles fx well). Versioning works well as long as you don't need too many versions (20+ especially if using calculated versions). Good functionality and excellent value for mid-market solution.
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April 16, 2019

Prophix Review: "Great software - Still learning a lot"

Score 8 out of 10
Vetted Review
Verified User
Review Source
We currently use Prophix for Budgeting, financial reporting and forecasting. We use the workflow manager to allow many users to input budget data, and at this time about 25 users have access.
  • Financial Reporting
  • Forecasting
  • Aggregating data in logical ways
  • I would have like to see Prophix take one budgeted item and follow it through all the way to the Finance Cube during implementation to verify all processes worked. Everything was discussed in a hypothetical scenario rather than actual
  • Faster CSP availability
  • It would be nice to be able to edit data views in templates
Great financial reporting. I think after we get our feet under ourselves it will be a great time saver. We are currently in the process of reviewing our model set up and hope to continue making improvements.
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December 17, 2018

User Review: "Prophix - By Finance for Finance"

Score 8 out of 10
Vetted Review
Verified User
Review Source
Prophix is used by our entire organization to varying degrees. The whole organization uses it for our annual budget, but we're in the process of making elements of Prophix easier to use so that the rest of the organization (outside of just Finance) have a desire to use it year-round. Various Finance teams use it year-round already and it's become our preferred way of reporting financial results internally.
  • Pivot table like ability to view and adjust information via ad-hoc.
  • Prophix uses processes called infoflexes which are extremely flexible and enable you to easily automate very complex allocation logic.
  • Provides the ability to drill into sub-detail via their "Drill Across" functionality.
  • The built-in report builder is clunky and limited in terms of ability to format reports.
  • The performance (on-premise, not cloud) can be slower than users would like, particularly when dealing with lots of data within DPM.
  • Error messages are not particularly helpful, even for the administrators. Still have to frequently contact Prophix to understand what an error message means.
  • Workflow functionality is extremely limited and minimally customizable.
  • Ability to control aspects of security is limited, and requires creative workarounds in order to meet the required internal review structure.
Prophix has allowed us to easily recreate some of our complex allocations so we can manage our whole budget process within Prophix. It also provides a very clean and easy to use interface for accessing financial information quickly. Unfortunately, we have not been able to completely eliminate our reliance on Excel. Some on my team still prefer building/formatting their reports in Excel because of the limited functionality and formatting available in Prophix's built-in report builder.
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No photo available
December 15, 2018

Prophix Review: "Does Its Thing and Does It Well"

Score 9 out of 10
Vetted Review
Verified User
Review Source
Prophix is being used by two main groups:
1) Finance department, for automated consolidations and financial reports
2) Capital project managers, for budgeting and variance reporting
  • Built on Microsoft SQL Server stack, which is ideal for our org as our other systems are based on the same and we can set up highly customized integrations using familiar technology.
  • Robust framework for Detailed Planning of HR, CAPEX, etc. plus ability to define workflows to support custom business processes in these areas.
  • In general, pace of innovation and development is somewhat slower than what I have come to expect from leading software companies. I have not seen a truly "new" idea or feature introduced in the 5 years I have been a customer, although I have no complaints about the functionality it does support.
Prophix is ideal for organizations that want to formalize their processes around consolidated reporting, planning and/or forecasting.
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February 01, 2019

"Prophix Review from a Consultant"

Score 6 out of 10
Vetted Review
Reseller
Review Source
We implement Prophix for our clients. Most of our clients use Prophix for their Financial Planning & Analysis function - budgeting, forecasting, allocations, financial reporting, etc.
  • Automating Budgeting process
  • Allocations
  • Workflows
  • Product support is a weakness
  • There are some bugs in the program
It is well suited for any organization that uses Excel to do their budgeting/forecasting. From a scalability stand-point, It is suitable for small to mid-size companies(less than 100 concurrent users).
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January 31, 2019

User Review: "Prophix usability"

Score 9 out of 10
Vetted Review
Verified User
Review Source
Used for internal reporting, budgeting and is used across the whole organization. It addresses reporting.
  • Ease of Use
  • Flexibility
  • Easy to manage
  • Online community
  • Dashboards
It is very good for internal reporting and bottoms up budgeting. It is not appropriate for changing forecast with lot of variables.
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January 29, 2019

User Review: "Prophix- Budgeting Easy Button"

Score 9 out of 10
Vetted Review
Verified User
Review Source
As a company Prophix has been well received for budgeting and monthly reports. Our users use the drill across feature when reviewing their monthly reports and this allows them to answer many of their questions themselves. We currently are implementing a long term financial forecast in Prophix that will allow for several what if analyses. We use detailed planning manger for loans and interest. We also have other cubes for specific areas that are integrated with our main finance cube.
  • Prophix allows managers to review in detail their department expenses.
  • Managers can write comments and line item details during budgeting that allows for detailed descriptions.
  • Detailed Planning Manager is awesome.
  • Prophix customer service is some of the best I have experienced.
  • Slow performance with complicated formulas and lots of data.
  • Sometimes does not save to cube but does not let the user know and why.
  • Difficult sometimes to debug templates and processes
  • Wish you could set up default page members for templates.
  • Would like to see ability to use template calculation process for templates with annual time periods.
Prophix is well suiting for budgeting and reporting. It takes a lot of work to set up but once it is-- it runs seamlessly. Wish it was easier to roll over budget /forecast data and that consultants had that same answers. On more than one occasion have received conflicting information from 3rd party consultants and different consultants within Prophix.
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January 12, 2019

User Review: "Prophix Transformed Our Reporting"

Score 10 out of 10
Vetted Review
Verified User
Review Source
Prophix is being used to consolidate financial and human resource information across our family of agencies. We import actual financials from our ERP on a daily basis and manually enter forecast data on a quarterly basis. Using template studio we build reports that are used to complete the board package quarterly. We also track employee headcount, salary, utilization, and work distribution in Prophix. Currently, our finance and client services departments are the only departments using the tool.

The biggest problem that Prophix addressed for our company was the consolidation and reporting of financials across our network. Before Prophix we used excel to do all of our consolidation. Prophix has made the consolidation process much more efficient and more effective.
  • Consolidations -- We can easily enter data in a multi-dimensional way that allows us to analyze our data in an efficient and meaningful way.
  • Automatic Processing -- Scheduled imports, currency conversion, and allocations allow for us to have the most up to date data
  • Quick Ad Hoc Reporting -- The ad-hoc application allows for quick analysis and reporting
  • Report building can be difficult at times, especially when moving data views, adding/removing rows and columns, and resetting data views.
  • Having too many versions in the Versions dimension slows down the system a bit.
  • Dashboards are available but are limited in capabilities
Prophix would be perfect when having to compare financials across time or versions. Prophix would also be great for tracking statistics.

It would not as appropriate for tracking hours against jobs.
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April 16, 2019

"Prophix Review"

Score 8 out of 10
Vetted Review
Verified User
Review Source
The current state is primarily used by finance departments, and future state will be used by accounting and development departments.
  • Flexibility. Prophix is flexible in data sources and combining those sources for unique reporting and analysis
  • Scalability. Able to process large volumes of data at scale
  • Able to calculate projections based on very detailed items
  • Implementation can be difficult initially since the product is so flexible
  • Ongoing development can be labor intensive as well and difficult to do without hiring support
Prophix is well suited for flexibility in reporting financial and non-financial metrics.
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April 16, 2019

User Review: "Love Prophix"

Score 9 out of 10
Vetted Review
Verified User
Review Source
Our finance team primarily uses it, but we’ve also used it to roll our reports to operations in the field where they can pull financial information on their performance of business they manage.
  • Flexibility of data use
  • Process manager allows us to streamline
  • Report building
  • Initial learning curve
It is great for running complex processes on large steps of data. Some manual manipulation scenarios and calculations are still better in Excel.
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December 19, 2018

Prophix Review: "Easy to Administer"

Score 10 out of 10
Vetted Review
Verified User
Review Source
Used as data aggregation & reporting tool. We're utilizing this to export Multi-tab workbooks & provide reporting to executive level staff.
  • Ease of use
  • Takes KPI Dashboarding to a new level
  • Simple to administer
  • Interface adjustments & configuration
  • Dashboards need more configuration for Charting
Prophix is terrific consolidation application. If you need to source data from multiple places - you can do it very easily with no other tools using the Process Manager.
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February 02, 2019

"Prophix Review"

Score 8 out of 10
Vetted Review
Verified User
Review Source
Prophix is being used to manage workflows for budget and forecasting purposes. At one point we used hundreds of Excel templates to manage this process, but thanks to Prophix we have one system that can manage it all. Users can also see their monthly tracking by logging in through the system.
  • Security for users
  • Workflow for planning
  • Cost reporting
  • More web client functionality
  • Increase speed times
  • Charts
Prophix is suited for companies that want a [hands-on tool where] the IT and finance departments work well together in the implementation and running of the product. It also works well in companies that are worried about security because of the detailed functions it has in the model cube.
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January 30, 2019

"Prophix Review"

Score 9 out of 10
Vetted Review
Verified User
Review Source
It is pulling the financial information from the ERP and finance department. We use the data to generate financial reports packaging and also budgeting.
  • Manipulate the data
  • Reporting
  • Budgeting
  • Financial Forecasting
  • Speed when processing reports.
  • The way to set up a new template.
  • The license restrictions when setting up production, development and UAT servers. Prophix should have some flexibility as other ERPs.
Financial reporting with specific areas like the way how to group
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Feature Scorecard Summary

Long-term financial planning (57)
8.0
Financial budgeting (72)
9.8
Forecasting (67)
8.1
Scenario modeling (58)
7.6
Management reporting (74)
9.5
Financial data consolidation (50)
8.3
Journal entries and reports (30)
7.6
Multi-currency management (25)
8.2
Intercompany Eliminations (25)
8.1
Minority Ownership (9)
7.7
Local and consolidated reporting (38)
8.5
Detailed Audit Trails (27)
6.9
Financial Statement Reporting (61)
8.5
Management Reporting (69)
8.3
Excel-based Reporting (61)
8.1
Automated board and financial reporting (52)
7.8
XBRL support for regulatory filing (2)
6.7
Personalized dashboards (50)
7.7
Color-coded scorecards (41)
7.2
KPIs (41)
7.6
Cost and profitability analysis (45)
7.9
Key Performance Indicator setting (36)
7.7
Benchmarking with external data (19)
7.7
Flat file integration (49)
8.5
Excel data integration (58)
8.3
Direct links to 3rd-party data sources (47)
8.1

About Prophix

Prophix’s innovative Corporate Performance Management (CPM) software promises to help you achieve your goals more successfully.

Key capabilities and benefits include:

  • Improve profitability and minimize risk when you automate repetitive tasks and focus on what matters.
  • Budget, plan, consolidate and report automatically.

Whether in the cloud or on-premise, Prophix promises to support your future with a platform that flexes to suit your strategic realities, today and tomorrow. For more information, visit www.prophix.com.

Prophix Features

Budgeting, Planning, and Forecasting Features
Has featureLong-term financial planning
Has featureFinancial budgeting
Has featureForecasting
Has featureScenario modeling
Has featureManagement reporting
Consolidation and Close Features
Has featureFinancial data consolidation
Has featureJournal entries and reports
Has featureMulti-currency management
Has featureIntercompany Eliminations
Has featureMinority Ownership
Has featureLocal and consolidated reporting
Has featureDetailed Audit Trails
FInancial Reporting and Compliance Features
Has featureFinancial Statement Reporting
Has featureManagement Reporting
Has featureExcel-based Reporting
Has featureAutomated board and financial reporting
Does not have featureXBRL support for regulatory filing
Analytics Features
Has featurePersonalized dashboards
Has featureColor-coded scorecards
Has featureKPIs
Has featureCost and profitability analysis
Has featureKey Performance Indicator setting
Has featureBenchmarking with external data
Integration Features
Has featureFlat file integration
Has featureExcel data integration
Has featureDirect links to 3rd-party data sources
BI Standard Reporting Features
Does not have featurePixel Perfect reports
Does not have featureCustomizable dashboards
Does not have featureReport Formatting Templates
Ad-hoc Reporting Features
Does not have featureDrill-down analysis
Does not have featureFormatting capabilities
Does not have featurePredictive modeling
Does not have featureIntegration with R or other statistical packages
Does not have featureReport sharing and collaboration
Report Output and Scheduling Features
Does not have featurePublish to Web
Does not have featurePublish to PDF
Does not have featureReport Versioning
Does not have featureReport Delivery Scheduling
Data Discovery and Visualization Features
Does not have featurePre-built visualization formats (heatmaps, scatter plots etc.)
Does not have featureLocation Analytics / Geographic Visualization
Does not have featurePredictive Analytics
Does not have featureSupport for Machine Learning models
Does not have featurePattern Recognition and Data Mining
Does not have featureIntegration with R or other statistical packages
Access Control and Security Features
Does not have featureMulti-User Support (named login)
Does not have featureRole-Based Security Model
Does not have featureMultiple Access Permission Levels (Create, Read, Delete)
Does not have featureReport-Level Access Control
Does not have featureTable-Level Access Control (BI-layer)
Does not have featureField-Level Access Control (BI-layer)
Does not have featureSingle Sign-On (SSO)
Mobile Capabilities Features
Does not have featureResponsive Design for Web Access
Does not have featureDedicated iOS Application
Does not have featureDedicated Android Application
Does not have featureDashboard / Report / Visualization Interactivity on Mobile
Additional Features
Has featureProfitability Analysis
Has featurePersonnel Planning
Has featureRevenue Planning
Has featureCash Flow Planning
Has featureIntegrated Financial Planning
Has featureCapEx Planning
Has featureReporting
Has featureCloud

Prophix Screenshots

Prophix Videos (4)

Prophix Integrations

Direct links to 3rd-party data sources, Any ERP including Microsoft Dynamics, Sage, Epicor, Maccola

Prophix Competitors

Pricing

Does not have featureFree Trial Available?No
Does not have featureFree or Freemium Version Available?No
Has featurePremium Consulting/Integration Services Available?Yes
Entry-level set up fee?Optional

Prophix Customer Size Distribution

Consumers
0%
Small Businesses (1-50 employees)
0%
Mid-Size Companies (51-500 employees)
25%
Enterprises (> 500 employees)
75%

Prophix Support Options

 Paid Version
Phone
Live Chat
Email
Forum/Community
FAQ/Knowledgebase
Social Media
Video Tutorials / Webinar

Prophix Technical Details

Deployment Types:On-premise, SaaS
Operating Systems: Windows, Mac
Mobile Application:Mobile Web
Supported Countries:Denmark, United Kingdom, Germany, Brazil