Overview
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.
Flexible Reporting Tool
Perks of End User Engagement with Prophix
Innovative Budgeting & Forecasting Tool
Great software for saving time
Mild improvements as far as the eye can see...maybe as we get new glasses, things will change...
Ease of Use with Prophix.
Love Prophix
Prophix Recommendation
Prophix is simply AMAZING
Prophix for us
Prophix - the perfect match
Rich's Review
Modernized Budgeting, Planning, and Reporting
Prophix - Rich Features & Functionalities.
How Prophix Differs From Its Competitors
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Data Integration
I fumbled around a bit trying to do the opposite. The export of data from Prophix to a user's local …
Deployment
I simply provided a SQL query that joins our conformed dimension tables and fact tables in our data warehouse to the …
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Reporting Capabilities
Automation Capabilities
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Reporting Capabilities
Did use line item detail to add up subtotals....works great
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Automation Capabilities
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Awards
Products that are considered exceptional by their customers based on a variety of criteria win TrustRadius awards. Learn more about the types of TrustRadius awards to make the best purchase decision. More about TrustRadius Awards
Popular Features
- Management Reporting (175)9.494%
- Financial budgeting (184)9.393%
- Management reporting (181)9.393%
- Forecasting (176)8.787%
Reviewer Pros & Cons
Pricing
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…
Entry-level set up fee?
- Setup fee optional
Offerings
- Free Trial
- Free/Freemium Version
- Premium Consulting/Integration Services
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What is Kepion Planning?
Kepion is a cloud planning & analytics software company that connects all organizations' teams under a single view of their business performance. We enable more intelligent decisions to be made by companies about their financial and operational future. Kepion global offices and partners deliver…
Features
BI Standard Reporting
Standard reporting means pre-built or canned reports available to users without having to create them.
- 7.3Customizable dashboards(9) Ratings
Customizable dashboards are dashboards providing the builder some degree of control over the look and feel and display options.
- 7.4Report Formatting Templates(9) Ratings
Ad-hoc Reporting
Ad-Hoc Reports are reports built by the user to meet highly specific requirements.
- 9.6Drill-down analysis(91) Ratings
Drill down analysis is the ability to get to a further level of detail by going deeper into the hierarchy.
- 8.5Formatting capabilities(89) Ratings
Ability to format output e.g. conditional formatting, lines, headers, footers.
- 8.8Report sharing and collaboration(86) Ratings
Report sharing and collaboration is the ability to easily share reports with others.
Report Output and Scheduling
Ability to schedule and manager report output.
- 9.3Publish to PDF(79) Ratings
- 8Report Versioning(59) Ratings
Report versioning is the assignment of version numbers to each version of a report to help in tracking.
- 9.2Report Delivery Scheduling(71) Ratings
Report Delivery Schedule is the ability to have reports delivered to a destination at a specific data and time.
Data Discovery and Visualization
Data Discovery and Visualization is the analysis of multiple data sources in a search for patterns and outliers and the ability to represent the data visually.
- 6.8Predictive Analytics(32) Ratings
Predictive Analytics is the ability to build forecasting models based on existing data sets.
Access Control and Security
Access control means being able to determine who has access to which data.
- 9.4Multi-User Support (named login)(85) Ratings
Named model access means that users have access based on name and password.
- 8.8Role-Based Security Model(85) Ratings
Role-based access means that access to data is determined by job or position in the corporation.
- 8.8Multiple Access Permission Levels (Create, Read, Delete)(88) Ratings
Multiple access permission levels means that different levels of users have different rights.
- 8.6Report-Level Access Control(30) Ratings
Report-level access control means that the type of report determines who has access to it.
Mobile Capabilities
Support for mobile devices like smartphones and tablets.
- 9.6Responsive Design for Web Access(43) Ratings
Web design aimed at producing easy-to-read sites across a range of different devices.
Budgeting, Planning, and Forecasting
These activities are designed to assist with both data-driven operational, short-term planning and strategic long term planning
- 9.3Long-term financial planning(155) Ratings
3-5 year financial plan with cashflow.
- 9.3Financial budgeting(184) Ratings
Annual budget for revenue and operating expenses, headcount/compensation, capital expenses, projects, etc.
- 8.7Forecasting(176) Ratings
Combining actuals and budgets, rolling forecasts, driver-based models.
- 8.8Scenario modeling(142) Ratings
Financial or operational modeling of alternate future states and planning for each.
- 9.3Management reporting(181) Ratings
Budget vs. actual or forecast, P&L’s, performance over time, between products etc.
Consolidation and Close
Consolidation of data from multiple entities with currency management, reporting and audit trails.
- 9.6Financial data consolidation(126) Ratings
Consolidating data from several entities into a single statement using US GAAP, IFRS or other standards.
- 9.2Journal entries and reports(79) Ratings
Ability to enter journal entry adjustments and produce reports showing all journal entries for a specific period.
- 7.8Multi-currency management(61) Ratings
Ability to handle foreign currency conversions during consolidation.
- 8.7Intercompany Eliminations(72) Ratings
Matching and elimination of intercompany revenue, expenses, and balance sheet accounts.
- 6.9Minority Ownership(28) Ratings
Consolidate financials full or partial ownership of subsidiaries, equity pick-up.
- 9Local and consolidated reporting(107) Ratings
Ability to report against individual business entities and the consolidated umbrella entity.
- 7.4Detailed Audit Trails(87) Ratings
Tracing changes to data and processes that were run.
Financial Reporting and Compliance
Financial statements and regulatory filings
- 9.3Financial Statement Reporting(164) Ratings
Creation and production of balance sheets, income statements, cash flows, other schedules
- 9.4Management Reporting(175) Ratings
Tools facilitating creation of internal ad hoc or standard reports.
- 9.2Excel-based Reporting(159) Ratings
Ad hoc or formatted reports using MS Excel.
- 9Automated board and financial reporting(138) Ratings
Tools to help automate creation of regulatory reports such as SEC filings and board books.
- 5.2XBRL support for regulatory filing(5) Ratings
Support for the XBRL standard reporting format for exchanging financial data.
Analytics and Reporting
Dashboards and scorecards for KPI monitoring and benchmarking
- 8.6Personalized dashboards(144) Ratings
Create custom dashboards and reports without the help of IT or administrators.
- 8Color-coded scorecards(103) Ratings
Track and analyze performances with interactive, color-coded balanced scorecards.
- 7.8KPIs(113) Ratings
Select from a library of more than 6,000 key performance indicators, and incorporate KPIs into your planning process.
- 7.7Cost and profitability analysis(114) Ratings
Cost and profitability analysis provides data for business decision making.
- 7.6Key Performance Indicator setting(92) Ratings
Ability to set key performance indicators for measuring progress towards goals.
- 7.6Benchmarking with external data(62) Ratings
CPI, daily exchange rates, industry KPIs. with scheduled data refreshes.
Integration
Ability to integrate with external applications.
- 9.2Flat file integration(141) Ratings
Integration of flat files like text documents and comma separated files
- 9.2Excel data integration(155) Ratings
Ability to integrate directly with Excel data.
- 9.5Direct links to 3rd-party data sources(135) Ratings
Integration with external applications like ERP, CRM, HCM
Product Details
- About
- Integrations
- Competitors
- Tech Details
- Downloadables
- FAQs
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. Prophix is a private company, backed by Hg Capital, an investor in software and services businesses. Additional information can be found at www.prophix.com.
Prophix Features
Budgeting, Planning, and Forecasting Features
- Supported: Long-term financial planning
- Supported: Financial budgeting
- Supported: Forecasting
- Supported: Scenario modeling
- Supported: Management reporting
Consolidation and Close Features
- Supported: Financial data consolidation
- Supported: Journal entries and reports
- Supported: Multi-currency management
- Supported: Intercompany Eliminations
- Supported: Minority Ownership
- Supported: Local and consolidated reporting
- Supported: Detailed Audit Trails
Financial Reporting and Compliance Features
- Supported: Financial Statement Reporting
- Supported: Management Reporting
- Supported: Excel-based Reporting
- Supported: Automated board and financial reporting
- Supported: XBRL support for regulatory filing
Analytics and Reporting Features
- Supported: Personalized dashboards
- Supported: Color-coded scorecards
- Supported: KPIs
- Supported: Cost and profitability analysis
- Supported: Key Performance Indicator setting
- Supported: Benchmarking with external data
Integration Features
- Supported: Flat file integration
- Supported: Excel data integration
- Supported: Direct links to 3rd-party data sources
BI Standard Reporting Features
- Supported: Pixel Perfect reports
- Supported: Customizable dashboards
- Supported: Report Formatting Templates
Ad-hoc Reporting Features
- Supported: Drill-down analysis
- Supported: Formatting capabilities
- Supported: Predictive modeling
- Supported: Report sharing and collaboration
Report Output and Scheduling Features
- Supported: Publish to PDF
- Supported: Report Versioning
- Supported: Report Delivery Scheduling
Data Discovery and Visualization Features
- Supported: Predictive Analytics
- Supported: Support for Machine Learning models
Access Control and Security Features
- Supported: Multi-User Support (named login)
- Supported: Role-Based Security Model
- Supported: Multiple Access Permission Levels (Create, Read, Delete)
- Supported: Report-Level Access Control
Mobile Capabilities Features
- Supported: Responsive Design for Web Access
Prophix Screenshots
Prophix Videos
Prophix Integrations
Prophix Competitors
Prophix Technical Details
Deployment Types | Software as a Service (SaaS), Cloud, or Web-Based |
---|---|
Operating Systems | Unspecified |
Mobile Application | Mobile Web |
Supported Countries | Denmark, United Kingdom, Germany, France, Benelux, Italy, Brazil |
Supported Languages | English, French, German, Italian, Spanish, Portuguese |
Prophix Downloadables
- 7 Ways to Reduce the Time Spent on Budgeting
- Guide: ERP and FPM (Financial Performance Management) Systems - The Similarities and Differences
- Faster Year-End Close eBook
- A CFO’s Guide To Optimal Cash Flow Planning - Moving Beyond Stand-Alone Spreadsheets
- A Guide to Scenario Planning - examines the applications of scenario planning, best practices, and how to apply the insights to business
- Guide: Consolidations in a spreadsheet vs investing in a consolidation solution
Frequently Asked Questions
Prophix Customer Size Distribution
Consumers | 0% |
---|---|
Small Businesses (1-50 employees) | 0% |
Mid-Size Companies (51-500 employees) | 5% |
Enterprises (more than 500 employees) | 95% |
Comparisons
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Reviews and Ratings
(284)Attribute Ratings
- 10Likelihood to Renew16 ratings
- 10Availability26 ratings
- 8Performance25 ratings
- 8.8Usability44 ratings
- 8.1Support Rating120 ratings
- 8.7Online Training12 ratings
- 8.3In-Person Training10 ratings
- 8.9Implementation Rating19 ratings
- 8.7Configurability11 ratings
- 9Product Scalability23 ratings
- 9Ease of integration28 ratings
- 8.8Vendor pre-sale18 ratings
- 9.1Vendor post-sale20 ratings
Reviews
(101-125 of 208)Prophix Review
- Prophix has great customer service and quickly replies to inquires.
- User friendly and easily learn by all different level of users
- A simple solution that solves multiple problems
- The ability to lock or make certain dimensions uneditable
- More fine-tuned user rolls or security
Prophix Fan
- We have a nightly process that runs automatically to import our data from GP; we can also do this manually as needed.
- One source! Everyone gets to see the same data without changing Excel formulas!
- Workflow tasks help organized duties and track where things are in the process.
- Creating reports in Prophix is easy; formatting is almost the same as it is in Excel.
- All reports can be exported to Excel or PDF.
- The only negative I can think of is the Administrative functions are for a single user. Although this is a great control, it is sometimes painful when only one person can add an account or change named sets.
Report Worthy
- Amazing implementation
- Ease of use
- Great continued support
- More data view availability to create without breaking
Great system!
- Planning
- Reporting
- Forecasting
- Month end review
- Better training for new users
- Fix web version bugs
- Unlock more formatting options
- Flexibility to include accounts that are not part of the accounting software gives us the ability to include non-financial information on our standard reports. Examples that we use in our industry are unit count and $ volume (we are in financial services, so each product has a $ amount that is not necessarily tied to revenue).
- The way the account model is set up allows us to add accounts to all reports at once - we don't need to recreate each report just because there's a new account being used.
- The ability to slice reports on any combination of account, department, company code, etc. gives us flexibility in reporting that was never possible in FRx. We sometimes need a store-by-store report, which in FRx was never practical. In Prophix, it's as simple as dragging "StoreID" into a column or row.
- We have had some difficulty in setting up the link to our general ledger. This has led to some project delays, but we have been able to resolve all of our issues to this point.
- It's not really easy to set up a report where comparative months are in columns. We do have a report set up, but it's not as intuitive as I would like to see.
- It's really hard to think of any real drawbacks or areas for improvement, especially since Prophix is continuing to provide additional functionality with new releases.
Prophix - great for budgeting and forecasting
- Drill Across, feature that allows users to access underlying details of actuals, even with links to the actual scan of an invoice in our ERP system
- Line Item Schedule, feature that allows us to detail budget lines
- Infoflex, allows us to target specific data to test scenarios
- Cell comments are currently not able to be viewed in a report or downloaded
- It is currently not possible to copy and paste from excel to Prophix in the Line Item Details
- It is currently not possible to know what Cube you are in from viewing the report or adhoc
Prophix - providing flexibility to the office of finance
- Prophix is extremely flexible. Anything you can do in Excel, can be done in Prophix only 100% more efficiently while allowing additional analytics that an excel version would not easily allow.
- The business processes within Prophix are easy to use and applicable across multiple types of business data. Users can analyze, flex, adjust, forecast, and use actual data to develop quick "what if" scenarios for a future time frame. Driver based forecasting becomes easy to create and monitor.
- The user interface is easy to learn. Template designers and ad-hoc analysis tools are an "Excel" like feel that provides comfort for many users. Formulas and formatting within report templates are easy to learn because of their consistency with Excel.
- Report templates can be easily bound into any type of output that is required; an Excel work book, Word document, PowerPoint presentation, PDF file, or SharePoint site. This allows for easy creation of management presentations on a recurring basis.
- Clean looking visual dashboards can be created using the template designer and charting capabilities. These visual displays are drillable, which allow you to link multiple templates into a user driven experience to start with a visual and drill into the details behind the visualization.
- Prophix is always improving their product and striving to provide those features that customers want. Prophix utilizes a feed back forum that allows customers to provide input into future features that will become available in the product.
- Items that may have been a struggle in the past have been resolved...for example, a recent release featured a re-design of the template designer. The new functionality made it easier to create template formatting and retain that formatting when adding rows or other data sets.
Fantastic
- Automate the budget process by utilizing workflows.
- Ability to drill down into the details of a line item on the financial statements.
- Mitigates keying/formula errors in spreadsheets.
- The tool is similar to Excel, however, it has some differences that take time to get used too.
- Building the model usually takes consulting hours that are an additional cost.
Deep diving into financial data is quick and easy
- Adhoc Reporting
- Budgeting
- Ease of maintaining account dimensions in hierarchical relationships within the Data Cube AKA Model Manager without requiring too many technicalities IT department intervention.
- Adhoc Analysis provides fast slicing and dicing of information in a Pivot table style Finance users are accustomed to.
- The ability to reuse/modify existing data views to redeploy in new reports makes creating new reports easier.
- Dashboarding features and aesthetic options are quite limited compared with PowerBI.
- Template Studio (Report Designer) tries to mimic Excel look and feel but lacks many Excel shortcut keys and formatting options.
- Report loading performance may deteriorate substantially when a report template is derived from multiple data views.
They currently have a workaround for such clients for this particular scenario by introducing an Excel-Add on plug-in. What this does is it can import/export existing data views created from the cube onto a local spreadsheet. However, this feature only works for the data view, and not for Template Studio Reports, which is where the bulk of the Excel formatting/functionalities are required by users.
If clients are not fussy about the limited dashboard options and don't care too much about Excel functionalities when trying to replicate Excel-like reports within Prophix environment, then I would recommend it. Tries to replicate the look and feel of Excel but lacking.
HR Business Partner
- Customer Service
- Labor Planning Structure.
- Cash Flow Planning
Great system for reporting and planning
- Reporting.
- Planning.
- No IT needed.
- Glitches in areas like process manager.
- Not overly customizable.
- No offline user for cloud customers.
- No Microsoft integration.
- Not able to make data connections without Prophix.
Prophix - great people / great product
- Easy format for quick query of data and analysis through Adhocs
- Ease of use in building processes to manipulate larger sets of data
- Consolidation and eliminations process need improvement - not great visibility for audit
- Report building can be messy for formatting. Small changes can break formats easy when updating reports.
I think that the consolidation of financials is not as robust as it could possibly be. In hindsight, it might be handled better by an ERP depending on the system one is using.
Exactly what we needed!
- Ad hoc reporting: This has made a significant difference in the turn around time of reporting.
- Budgeting: We were able to cut out 2 1/2 months of our budget cycle because of all of the efficiencies we gained from Prophix.
- I would like to see the ability to view reports similar to an Excel file. Within Prophix, you cannot view a report with different tabs; however, you can create a report binder that will take several different reports and combine them into one as an exported file.
- Sometimes I have wanted to be able to link one report to another, and you cannot do that in Prophix.
Prophix is excellent!
- 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.
- There are so many options within Prophix that at times, it can be overwhelming. I think it’s necessary to have a few Admin to create reports and assist users, so that the users do not have to know how to use everything.
Prophix Review
- Ease of use.
- Cube building is easy.
- The versatility of making changes.
- The variety of input formats for collaborators not familiar with the software.
Great Tool
- Process streamline: the financial information distribution process can be automated.
- Easy design: the concepts behind the report design are straightforward, and lead to quick creation of additional reports.
- Offers cloud version: there is no issue with running updates, as they are done behind the scenes.
- Less reliance on Excel: the budget is now housed within Prophix rather than within multiple spreadsheets.
- Graph editing: for advanced graph editing, Excel is still more capable.
And it's Prophix for the win ...
- Due to the complexity of our model, the OLAP functionality allows me to slice and dice the data as needed.
- The implementation process and team were phenomenal to work with. It was an on-site collaborative effort in which our specific needs were recognized, then strategized and ultimately developed into our model exactly as we requested.
- The reporting functionality and flexibility in Prophix is far superior to our main ERP.
- At this time, there are not enough hours in the day to fully explore using this application to its full extent.
Prophix helps with streamlining
- Streamlines processes.
- Creates professional-looking reports.
- Let's you look/analyze data quickly and in different ways.
- Each report is custom. No out of the box reports.
- During the initial build, it will take a lot of your time. Not necessarily a bad thing just wasn't expected to be as involved as I currently am.
- KPI's
- Bank covenants
- Income Statements
- Cash Flows
- Balance Sheets
KISS with Prophix
- The flexibility of being able to create cubes to model your organization is a strength.
- The ability to create allocations in Prophix is a strength.
- The ability to create templates for standard reports makes producing report fast and easy.
- Fast implementation time is a plus for Prophix
- In the future, it would nice to be able to preview an adhoc query result before committing to it. Sometimes waiting for the query results to finish rendering is a pain, especially if you realize that you need to change the view once you finally see it. This only applies to very large adhoc results however. 90% of the time, the wait time is very short.
Analytical Insights
- Prophix responds well to customer feedback and is able to roll out quarterly changes that incorporate customer requests.
- Allows you to view your data from multiple angles
- Support is always available to help with questions or problems
- There are some instances when Prophix takes you to an error screen instead of preforming what you wanted it to do. This [should] be fixed.
- Prophix is very easy to get up and running. Very little IT involvement is needed to maintain the system.
- Jobs to update the cubes can be set to run at night, so when you arrive in the morning, financial data has already been updated. During the monthly close, we also manually update cubes during the day without issues.
- Security can be set on the cube, or dimensions within the cube.
- Web version does not have the same functionality as the smart client. Prophix continues to add additional functionality to the web version, but currently not the same.
- Management of data within Prophix is easy. It's simple to load/view/delete/manipulate the data.
- Building reports and data-entry templates is intuitive and quick.
- The user interface is easily understood by all levels of users.
- We have the Continuous Success Plan, which provides 2 hours a day of phone support. It often takes a week to schedule calls. I wish I knew how how to speed that process up.
Prophix Rocks!
- It performs complex allocations very well
- It manages workflow planning very well when trying to complete budgets
- It is extremely flexible and scalable to our business
- It is an extremely stable software
- More graphical or charting capabilities
- Better ways to manage alternative hierarchies within the dimensions
- Better Excel interaction
Prophix saves time and money with Automation
- Workflow is very useful and saves time
- Ad Hoc reporting is a very useful tool across our accounting department for research and analysis
- Allocations work very well with Prophix and are easy to maintain
- We cannot currently connect Prophix to our ERP for actual vs. budget reporting
Prophix Review
- Ad-hoc to easily manipulate data into what you need in a fast way
- Makes reports easy to build and distribute
- Workflow process provides a sort of checklist for processes needing to be completed
- The fake numbers used in building reports
- I wish you could have two ad-hoc [reports] open at once
- If it were speedier when multiple users are in at one time