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Prophix

Prophix

Overview

What is Prophix?

Prophix helps finance leaders to improve the speed and accuracy of decision making. Prophix’s Financial Performance Platform enables finance teams to reduce complexity and uncertainty, and illuminate insights with access to AI insights and planning, budgeting, forecasting, reporting, and consolidation…

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Recent Reviews

Prophix... Worth It!

8 out of 10
February 13, 2024
Incentivized
The main reason I use Prophix is for building financial reports and consolidation headcount data. This software makes it extremely easy …
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Prophix

9 out of 10
October 13, 2023
Incentivized
We are a non-profit organization that uses Prophix for expense forecasting across multiple grants and contracts. We also track FTE …
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Prophix for us

8 out of 10
September 12, 2023
Incentivized
We use it for forecast, reporting and budgeting in our company that turns out monthly, quarterly and yearly reports. We also have a very …
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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

View all 40 features
  • Management Reporting (169)
    9.3
    93%
  • Financial budgeting (178)
    9.0
    90%
  • Management reporting (175)
    9.0
    90%
  • Forecasting (170)
    9.0
    90%

Reviewer Pros & Cons

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Pricing

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What is Prophix?

Prophix helps finance leaders to improve the speed and accuracy of decision making. Prophix’s Financial Performance Platform enables finance teams to reduce complexity and uncertainty, and illuminate insights with access to AI insights and planning, budgeting, forecasting, reporting, and…

Entry-level set up fee?

  • Setup fee optional
For the latest information on pricing, visithttps://www.prophix.com/blog/how-much…

Offerings

  • Free Trial
  • Free/Freemium Version
  • Premium Consulting/Integration Services

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Alternatives Pricing

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What is Vena?

Vena Solutions provides a financial process automation solution to automate Corporate Performance Management, accounting and budgeting, Regulatory & Compliance, and other finance-related processes. It is scaled for medium to large-sized organizations.

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…

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Features

BI Standard Reporting

Standard reporting means pre-built or canned reports available to users without having to create them.

7.6
Avg 8.1

Ad-hoc Reporting

Ad-Hoc Reports are reports built by the user to meet highly specific requirements.

8.8
Avg 8.3

Report Output and Scheduling

Ability to schedule and manager report output.

8.8
Avg 8.2

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.

7.3
Avg 7.7

Access Control and Security

Access control means being able to determine who has access to which data.

8.9
Avg 8.7

Mobile Capabilities

Support for mobile devices like smartphones and tablets.

9.6
Avg 8.0

Budgeting, Planning, and Forecasting

These activities are designed to assist with both data-driven operational, short-term planning and strategic long term planning

9.1
Avg 8.3

Consolidation and Close

Consolidation of data from multiple entities with currency management, reporting and audit trails.

8.4
Avg 8.1

Financial Reporting and Compliance

Financial statements and regulatory filings

8.4
Avg 8.3

Analytics and Reporting

Dashboards and scorecards for KPI monitoring and benchmarking

7.9
Avg 8.0

Integration

Ability to integrate with external applications.

9.1
Avg 8.3
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Product Details

What is Prophix?

Prophix helps finance leaders to improve the speed and accuracy of decision making. Prophix’s Financial Performance Platform enables finance teams to reduce complexity and uncertainty, and illuminate insights with access to AI insights and planning, budgeting, forecasting, reporting, and consolidation functionalities. The company states they currently have more than 2,500 active customers across the globe using Prophix to support organizational success. Prophix is a private company, backed by Hg Capital, an investor in software and services businesses. For more information, visit 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: 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

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 an efficient summary of key performance metrics found buried within Prophix charts.  It also summarizes the important insights in plain English.Screenshot of Prophix's self-serve dashboards and visualizations, 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 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.

Prophix Videos

Prophix is a cloud-based financial performance platform that streamlines processes, accelerates insights, and promotes collaboration. This video demonstrates how Prophix can: - Automate budgeting, planning, reporting, and forecasting processes - Empower business leaders wit...
 Show More
Hear From FP&A Executives | Prophix User Testimonials

Watch Prophix customers share how Corporate Performance Management (CPM) software helped them get off of Excel and transform the way they budget, plan, and report.

Watch Hear from Prophix customer Rain for Rent, which provides liquid handling solutions and oversees flood relief projects, and how they use Prophix to automate their budgeting and reporting, and to model the usage of the company's inventory.

Watch Leiah Hampton from Alterman Inc. shares how Corporate Performance Management software has reduced Alterman’s reporting and analysis time, and given them the ability to deliver quality projects on-budget and on-schedule.

Prophix Technical Details

Deployment TypesOn-premise, Software as a Service (SaaS), Cloud, or Web-Based
Operating SystemsWindows, Mac
Mobile ApplicationMobile Web
Supported CountriesDenmark, United Kingdom, Germany, Brazil

Frequently Asked Questions

Prophix helps finance leaders to improve the speed and accuracy of decision making. Prophix’s Financial Performance Platform enables finance teams to reduce complexity and uncertainty, and illuminate insights with access to AI insights and planning, budgeting, forecasting, reporting, and consolidation functionalities.

Workday Adaptive Planning, Vena, and Wolters Kluwer CCH® Tagetik are common alternatives for Prophix.

Reviewers rate Responsive Design for Web Access and Financial data consolidation highest, with a score of 9.6.

The most common users of Prophix are from Mid-sized Companies (51-1,000 employees).

Prophix Customer Size Distribution

Consumers0%
Small Businesses (1-50 employees)0%
Mid-Size Companies (51-500 employees)5%
Enterprises (more than 500 employees)95%
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Comparisons

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Reviews and Ratings

(271)

Attribute Ratings

Reviews

(51-75 of 201)
Companies can't remove reviews or game the system. Here's why
January 25, 2022

Love Prophix

Score 10 out of 10
Vetted Review
Verified User
Incentivized
We use Prophix to produce our monthly and yearly financial statements. Our completed ad-hoc reports can include as much or as little data as we need for different districts, buildings, or states. We also use Prophix to complete our yearly budgeting process across the company.
  • Month End Financial Statement Binders
  • Budgeting
  • Ad Hoc reporting
  • More detailed error messages
We love the financial statement binders because we can tailor them to meet our needs. For example, we can input an income statement by state and/or district and consolidated it to include the whole company. We can do the same for balance sheets, cash flow statements, and trial balances. Prophix gives us a clear view of the company from all angles.
Score 9 out of 10
Vetted Review
Verified User
Incentivized
We predominantly use Prophix for budgeting and to manage multiple budget cycles for our calendar fiscal year and multiple grants fiscal years. Budgeting via Prophix allows us to automate allocations and maintain original versions in addition to revision versions. Workflows help us to manage input and approvals from more than 40 users. Prophix is also becoming our main resource for reporting as we continue to learn the capabilities of the platform.
  • Detailed Planning for employees
  • Customer Service
  • Ease of updating member properties as reporting needs arise
  • Product education is available in multiple environments
  • Although Prophix has drill-down capabilities to both budget and actuals, the budget drill-down does not work when using an alternate hierarchy for reporting.
  • Line Item Schedules have some functionality constraints that sometimes cause end-users to take extra steps during the budget process.
  • Detailed Planning schedules are not available to end-users within Prophix after they submit their budgets. End Users have to download to Excel before submitting, or a Global Administrator must do that for them after submission.
Most appropriate for gathering budget data for a variety of different needs, and the calculations have always proven to be accurate - if they have not been, it is because we set up the formula incorrectly! For example, we can have different allocation methods and rates depending on the budget cycle or stipulations of the funding source. Prophix is also well-suited to assist with budget cycle management and offers many options for workflows besides just sending out workbooks, such as task reminders. This platform is for the team that wants to be able to manage their own system without always having to engage with outside assistance. One of the reasons we chose Prophix is its commitment to teaching its clients how to use the product and maintain it themselves through multiple education mediums. They offer a Prophix Academy with online courses, an extensive online help manual, product webinars that include demos and Q&A sessions, an annual summit, and quarterly product updates, and a Customer Success package. Prophix actively solicits feedback for product improvement through their Feedback Forum and Prophix Red Carpet. Our IT department indicated this platform as the preferred platform among the platforms in our top 3 list based on the cloud vendor utilized by Prophix, direct API connection to Microsoft Dynamics SL, Single-sign-on capability, supported multi-factor authentication through VPN, Active Directory integration, and our requirements for a secure connection to the web application.
January 04, 2022

Prophix New User

Score 10 out of 10
Vetted Review
Verified User
Incentivized
Prophix is being used by the finance department. It is used for budgeting, monthly financial statements, analyses and reporting as needed throughout the organization.
  • Organizes data quickly
  • Accurately displays data
  • Makes data manageable
  • Not all areas of our GL can be imported
  • Naming of the data sets is hard to grasp
Prophix makes data manageable. The drill across feature is great for seeing detailed transactions quickly. Dashboards make files easily accessible rather than combing through files of where you think it might be.
Score 9 out of 10
Vetted Review
Verified User
Incentivized
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 premise 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).
  • Processes sometimes slow down the server (on prem).
  • Creating, updating and 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.
September 21, 2021

Prophix

Score 8 out of 10
Vetted Review
Verified User
Incentivized
Prophix is being used in the insurance services division of our organization. It is being used by multiple products but only this division. We use it for reporting, forecasting, and budgeting. Additionally, our administrative department owners use Prophix for headcount budgeting and regular budget vs. actuals reporting.
  • Allocation logic
  • Template studio
  • Drill accross
  • Work Flow - allowing multiple users to submit forecast/budget information and roll-up to total
  • Better integrated with Microsoft (excel)
  • We had a difficult transition to the Cloud version and were less than thrilled with our customer support throughout the process. The entire process took over a year.
I've used other budgeting/reporting tools and I do think Prophix has been easy to learn, is dynamic, has multiple levels of details/drill across functions available, etc. We do not use Prophix for our month end close, but we do use it for all of our reporting, budgeting, and forecasting. My team collects budget and forecast data from multiple areas and Prophix makes it possible for these users to submit their product line forecasts/projections within Prophix, and then we can roll up the data into our totals and analyze at the system-wide level.
Score 9 out of 10
Vetted Review
Verified User
Incentivized
We use Prophix across our business to assist with budgeting and forecasting as well as producing financial reporting. Our company reports in multi currency, so the software is used to convert across the currencies we use quickly and efficiently, allowing us to focus our time on analysis rather than production of the numbers. The ability to consolidate multiple branches and locations quickly is really changing the way we work
  • Consolidation
  • Currency conversion
  • Multi currency reporting
  • Budgeting
  • MDX requirements
  • Report formatting
Prophix is really easy to use once set up. It can take a while to understand things, but once up and running it is an intuitive piece of software and makes financial reporting much quicker for the company. Sometimes it can be frustrating that the reporting features do not completely mimic excel, but product exchange nets are always being released which allows users to work with the software in a way they are comfortable with.
September 13, 2021

Our One Source Of Truth

Tom Samuelson | TrustRadius Reviewer
Score 10 out of 10
Vetted Review
Verified User
Incentivized
We use Prophix for all of our financial reporting, forecasting, and budgeting across the whole organization. It is used for all of our month-end reporting, our quarterly re-forecasting, and our yearly budget process. It is also used for any ad hoc reporting requested by our executive/management team. It is our one source of truth for all financial data.

We have just started using Prophix to review our customer profitability. It allows us to analyze each customer and how we can improve their profitability and in turn the companies profitability.
  • It allows us to compile ad hoc reporting easily for execs/management.
  • Monthly reports can be set up to distribute automatically.
  • Allows us to get more people involved in the planning/re-forecasting process
  • Setting up a report in Prophix to match something that you were doing in Excel can be a challenge sometimes. The CSP team helps us with those things though.
  • Setting up data connections between Sage and Prophix can be a challenge for those of us that are not IT gurus. Prophix team has to help us out with those connections.
Prophix does a nice job on the reporting, forecasting and budgeting side. It allows us to get information in a report form to our executives and management team very quickly. Where we found a challenge was on the personnel and headcount side. Planning compensation increases for the out years has been a bit of a challenge for us.
Score 8 out of 10
Vetted Review
Verified User
Incentivized
We use Prophix for Capex planning and project management including variance analysis budget vs actual, internal reporting (formal quarterly reports, ad hoc management reports, with variance analysis year-on-year), consolidated external reporting (several entities across multiple countries and currencies), other external reporting. Prophix replaces time-consuming Excel processes to compile complex reports. Workflows streamline monthly processes and support multi-level approvals.
  • Flexible--reports on almost anything in any format
  • Powerful--analyzes huge volumes of data, deals with lots of complexity
  • Great customer support and community/forum of users
  • Big investment in time and training
  • Length of time to fully understand, implement, and realize benefits
  • Software-specific jargon
Prophix is appropriate for almost any reporting requirement, internal or external. It deals with data from multiple sources. It has worked well for us. It's less appropriate for General ledger, P2P, and AR. Being cloud/ web based, you will of course need a very good internet connection or performance will be very slow.
Emily Anauo | TrustRadius Reviewer
Score 10 out of 10
Vetted Review
Verified User
Incentivized
Barber uses Prophix in the Finance Department to support other departments such as Programs and Human Resources. Prophix helps us to address business problems such as wage analysis, dashboard metrics, time savings at month-end, etc.

We also use Prophix to help our Clinical program with their productivity reports. Prior to using Prophix, they were using very cumbersome process using excel. They also had very limited functionality for the reports that they were using. Now they are able to see details and the data in graphical format which is appealing to everyone!

We also use the Dashboarding functions for our monthly and quarterly meetings. This has replaced another excel based cumbersome process. The dashboards allow users to look at the big picture to understand operations and then can drill down as needed to the areas that need more focus.
  • Multi-tiered Allocations
  • Variance Analysis
  • Budget Streamline
  • Dashboarding
  • Non financial data analytics
  • Flexibility
  • Security & Workflow
  • Dashboarding: ability to be able to filter within the dashboard and have all dashboards change at the same time.
  • Reports can be slow to open.
Prophix is well suited for variance analysis. We use it for a wage analysis by job because it's pretty much impossible to be able to analyze the data by employee in Prophix. If we do want to look at wage analysis variance by employee, we still need to use Excel.

It's also well suited for non financial data analysis. We are able to conduct a rate variance and unit variance in the same report which is extremely helpful to explain the big picture.

Speaking of big picture, Prophix can provide you with the tools to showcase the data in a big picture format (Dashboards) and also provide the tools to narrow down the areas that need more specific focus.
Score 9 out of 10
Vetted Review
Verified User
Incentivized
Prophix is being used for our financial reporting, budgeting, forecasting, and personnel planning needs. We have a unique user for each department within the organization. The initial business problem addressed by Prophix was a need for financial reports to seamlessly get to our end-users. Prior to Prophix, our reports would be ready within 3-4 days after closing the month. Today we cut that down to 1 day!
  • Less time formatting reports equals more time analyzing.
  • Unique dashboards for groups of users.
  • Personnel planning allows for various scenarios.
  • More color options for charts.
I would recommend Prophix for an organization that still utilizes Excel or un-supported reporting tool and has over 50 reports to format for end-users each month, Prophix will become a huge asset in cutting that time and allowing for more useful data analytics to be done. Also the ability to create a forecast or budget from multiple users using the workflow is a valuable tool.
Gavin Scott-Miller | TrustRadius Reviewer
Score 8 out of 10
Vetted Review
Verified User
Incentivized
Our team utilizes the Prophix software for monthly forecasting for our financials. It acts like a large check and balance for communications between operations and accounting. We have found that without a proper forecast, it’s hard to maintain budgets or accuracy on expected revenue and profit on each of our projects. That is where Prophix steps in, as we are able to sync it with our other databases and software.
  • Ease of use and understanding.
  • Submittals process for review.
  • Flexibility for organizations.
  • Older versions had issues with syncing and slow down during loading times.
  • UI is fairly basic.
  • Sometimes items UI items can be left up to interpretation, which can muddy data we get back.
Prophix is designed for its flexibility and communication. It’s acting for us like a backlog tracker or a revenue and profit tracker. It helps at our end of the month reports and meetings so everyone can be on the same page with that needs to be done for the following month. It would be less appropriate for simply using like a spreadsheet without a bunch of predetermined formulas and data being pulled from our database.
April 09, 2021

Prophix Review

Score 9 out of 10
Vetted Review
Verified User
Incentivized
Prophix is being used for our quarterly budgeting and forecasting process as well as weekly, monthly, quarterly, and annual reporting. It allows us to complete a rolling 3 year plan and forecast quarterly. It allows us to account for personnel planning, capital planning and operating expense planning. It allows us to gather input from each department to compile a complete 3 year rolling forecast.
  • Forecasting for any time frame
  • Weekly, Quarterly and Annual Reports
  • Multiple dimension and version capabilities.
  • Dashboards - More chart options
  • Calculation flexibility from version to version.
  • Processing speed
Prophix can be very useful for any company of any industry. The Prophix platform is very flexible. Allows for multiple users to enter and manipulate data.
Score 9 out of 10
Vetted Review
Verified User
Incentivized
Ohio Northern University (ONU) uses Prophix for reporting and budget development across its entire campus. We have also been able to utilize Prophix to perform analyses involving data over multiple years. These analyses are not possible with our ERP system, Ellucian Banner. Utilization of Prophix for budget development has allowed ONU to develop its budget in a decentralized fashion since its implementation. This has resulted in better engagement from the nearly 100 Prophix users across campus and has enabled ONU to develop better and more accurate budgets. Budget managers appreciate the ease of use of Prophix.
  • ONU has benefitted by moving away from a centralized, Excel-based budget process by implementing Prophix to a decentralized process that engages budget managers in the development of the University's budget.
  • Prophix offers tremendous flexibility in reporting that is not available through our ERP system.
  • Prophix is very adaptable to many different types of industries. Its flexibility and adaptability is one of its biggest strengths.
  • The ability to set up workflows for a variety of tasks within Prophix is very beneficial for tracking purposes.
  • Prophix is very Excel-like in its functionality. It would be nice to see Prophix adopt some additional Excel functionality in its product
  • While the workflow process is helpful within Prophix, I would like to see some additional functionality added
Prophix is adaptable to many different types of organizations. It is an exceptional tool for budget development, even across complex organizations. Prophix also allows a much more flexible approach to financial reporting and analysis than is offered in most ERP systems. An added bonus is the ability that Prophix has to handle long-range planning and forecasting.
April 02, 2021

Prophix

Score 9 out of 10
Vetted Review
Verified User
Incentivized
Prophix is being used by our organization for financial reporting and annual planning/forecasting. The F&amp;A team is the main user base, but we also have other departments that are users and input planning and forecasting data.<br><br>Prophix allows us to maintain historical financial reports -- both actuals and budgets/forecasts. It is the main "hub" for our annual planning process, and is considered as the source of truth when it comes to company financials.
  • Financial Reporting
  • Planning
  • Ad Hoc Analysis
  • Time and Resources necessary to train end users
Prophix is a great resource for any company looking for a robust CPM software. It has been a mainstay at our company for numerous reasons and once the end user is well trained on the power it has, it can be a great benefit overall.
Score 10 out of 10
Vetted Review
Verified User
Incentivized
We use Prophix for budgeting/forecasting, personnel planning, and financial statements. We are able to pull data out of our data warehouse, have one source of the truth, and make better decisions based on this. The finance team is the main user of Prophix, but we are expanding its use for budgeting/forecasting. It solves the problem of disparate systems and allows for more efficient budgeting/forecasting, closing the books, and reporting.
  • Personnel planning allows you to plan employees and burden rates in a detailed way
  • Reporting--flexibility and customization of data within reports
  • Security and permissions for users is customizable to the department and account level
  • Budgeting/forecasting--taking this process out of Excel saves time and money
  • Investment in training during implementation
  • Improvements to the software have been focused on things we don't use
Prophix provides a flexible alternative to standard reports available in our software. It allows us to create and customize modern financials with a limited amount of work. Prophix saves us time during the budgeting, close, and reporting processes.
Ben Swinney | TrustRadius Reviewer
Score 10 out of 10
Vetted Review
Verified User
Incentivized
We use Prophix for our company level reporting and planning as well as department reporting.
  • Automating processes.
  • Flexibility of design. You can easily make changes.
  • Efficiency. It save lots of time.
  • Designing reports could be more streamlined
  • It could run faster
  • Capacity to scale can be an issue
Prophix works well for companies that want flexibility but also want to build standardized, efficient processes. It does great for management reporting, forecasting and budgeting. If you have a lot of data elements (number of fields and number of data items), it can reach some capacity issues.
Marcia Jo Frazier | TrustRadius Reviewer
Score 8 out of 10
Vetted Review
Verified User
Incentivized
Prophix is used by the whole organization. The finance department does utilize Prophix more than any other department. It has allowed us to improve our budgeting process; we were able to eliminate duplicate work and hours combining spreadsheets. We have saved so much time that can now be dedicated to other tasks or analyzing data instead of just gathering it.
  • Automates repetitive tasks
  • Allows us to analyze hundreds of thousands of lines of data within seconds
  • Streamlining budgeting processes that cut down on the human error aspect
  • More flexibility needed in dashboard chart design
  • More flexibility in how accounts roll-up (children added together = parent total; sometimes I need to average the children to get the parent, but that is not a current feature)
  • I wish ad hoc analysis was available for standard users
Prophix helps any business (regardless of size) that is having trouble analyzing large amounts of data. It allows you to focus on the big picture instead of having to comb through every single detail. Prophix can also guide your organization to a more disciplined approach, however, if you are not currently disciplined as an organization it can be a painful transition.
Score 9 out of 10
Vetted Review
Verified User
Incentivized
We are currently using Prophix within the finance department for financial reporting, ad hoc account inquiries, and budgeting. We are in the process of migrating to the cloud and once there will begin to selectively deploy across the organization.
  • Flexible - it can do just about anything you can think of for reporting and analysis and planning.
  • Easy to learn and use
  • The Prophix team is great to work with
  • Missing some font types
Great at creating company and account hierarchies. We have easily consolidated reporting from several different entities which use separate ERPs.
Score 10 out of 10
Vetted Review
Verified User
Incentivized
Prophix is currently being used to budget, report profit and loss statements, and do variance analysis for over 20 programs. We also use Prophix for reporting on personnel planning and cross charging between departments. We integrate Prophix with our production databases to show real time production trends. Over 20 program managers interact with Prophix and make business decisions using the most up to date, relevant data. Prophix saves a lot of time for our company and helps provide the most relevant data for business decisions.
  • Prophix helps tremendously with the budgeting process. It allows scalability when we add new programs. The flexibility of Prophix allows for an accurate and efficient budgeting process.
  • Prophix does an excellent job at building data integrations, which helps feed the most recent data into Prophix with no manual processes.
  • Prophix's customer support team is amazing and is always willing to help you build more functionality into the product as time goes on and additional needs are identified.
  • I can't identify any areas where Prophix has room for improvement. The product works great!
I think Prophix is best suited for budgeting, reporting actuals, and looking for variance analysis. Prophix is also great at showing real time production data to managers and the executive team. Prophix is amazing to use when changes occur within your organization and flexibility is desired. I would highly recommend Prophix to any organization.
Michael Senchuk | TrustRadius Reviewer
Score 9 out of 10
Vetted Review
Verified User
Incentivized
We use Prophix in three ways: (1) as an integral part of our budgeting/forecasting process; (2) to report monthly financial results; and (3) for other reporting purposes, like headcount and turnover, and operations-related information.
  • Budgeting and forecasting; it's built with a workflow and input capabilities to make these 10X more efficient than through collecting spreadsheets.
  • Reporting financial results; it's vastly improved our reporting capabilities, both in terms of looks and ease of use for the end-user, and the capability to distribute them on a much quicker basis.
  • Their dashboard capabilities are very impressive; we use this on a regular basis as well, and I'm regularly tweaking the dashboard for different parts of the organization.
  • Some Excel feature aren't available in their templates, or are a slightly different format.
  • I'd love to see template reporting be able to focus in on specific cross-combinations.
  • The dashboard graphs aren't as flexible as excel graphs.
Probably a 9. I don't know if it would be the best solution for EVERYONE, but it sure would be a great solution for most in my opinion. I think most small-medium and medium-sized organizations would be perfect for it.
Score 9 out of 10
Vetted Review
Verified User
Incentivized
Prophix is available across the whole organization and is currently set up for real time reporting of actual results vs budget ... the Prophix platform is web based and is accessed via the internet ... financial results are now more available and more timely for the decision makers and their direct reports.
  • Prophix platform creates a more open and collaborative budget process
  • Real time reports identify customer service issues quicker
  • Real time reports are custom to the decision maker and his direct reports
  • The web based platform is readily accessible
  • Would like to see more Cloud 365 abilities
  • Prophix online learning should be more available to all the users with subscription
  • Prophix could have more interactive choices within the reporting platform ... a distributed dynamic "read only" type report for Decision Makers with multiple responsibilities ... a PDF type report with drop down choices that auto upload the read only report.
Prophix is well suited for accessibility and real time information sharing ... the report users receive the most benefit ... the key for the admin and the super users is to see something more familiar in the report creating process ... would be wonderful if the Cloud 365 capabilities are more similar where the reports could be generated in another program (Cloud 365) and Prophix provide the portal to translate the shared platform into the Admin Prophix account. Data visualization in the Daily Dashboard could also be an area for improvement if the Cloud partners have better capabilities for visual reporting ... these same capabilities should already be available.
April 01, 2021

Prophix review

Wendell Schmidt | TrustRadius Reviewer
Score 9 out of 10
Vetted Review
Verified User
Incentivized
We use Prophix for our financial reporting and to construct our company budgets.
  • Reporting output is excellent - what you see on the screen will print the way you see it or if you send it to excel, it will look in Excel like you view on the screen. This saves time from having to manipulate reports.
  • It is easy to navigate and find what you are looking for. The learning curve was less than I have experienced with other software and the training was great so that I understand how the software works. This is helpful when trying to configure the software to your needs.
  • Their process manager works well for moving and copying data from one cube to another. We changed our department numbers in our ERP and so I had to create the new departments in Prophix and move the data to these departments and delete the old one. It was a bit of a process to setup but running the process went well and accomplished the task.
  • Prophix doesn't do well when it comes to balance sheet and cash flow budgeting. Their support staff doesn't seem to know much about them either, so you have I have had to try to figure a lot of it out myself.
  • Drilling in to find details of a number you have in a report is difficult and time consuming. When you analyze it pulls up all the data in your report and then you have to find the number you want more detail on to explore more there. Rather than just pulling in data that pertains to the number you want to explore. However, they do have drill across and for some reason this didn't get setup in our install. This is supposed to help but I have not used it yet.
  • Copying a budget is cumbersome and time consuming. In my previous software all I had to do was click copy, select a few options, and it would copy ALL the parts of my budget and create a new one. Prophix has so many pieces I have to update or copy each piece, so it is quite a process create a copy of a budget. I like to create a copy of a budget, make a few tweaks and I have a new budget fairly quickly.
Prophix is well suited for reporting, easily getting reports to display as you want them, and easily distributing reports to users.
Score 6 out of 10
Vetted Review
Verified User
Incentivized
We currently use Prophix for all our financial planning and reporting. It is used primarily only within the finance department. Our main use is the Prophix for Excel plugin as we tend to do all our reporting and analysis in excel and use that plug in to read/write data to and from the system.
  • Financial Reporting
  • Version Control
  • Ad Hoc Analysis
  • Prophix for Excel Stability
  • Data Import Functions
  • User Interface
Prophix is great for slicing and dicing data that is available but perhaps not in the form or function required. It allows me to see the same data that is in my ERP system but from a different angle. My only hesitation to fully recommend the product would be their apparent reliance on O365 going forward. All new builds/updates are for the cloud based system and the use of O365 as your office interface. Totally leave us that want On Prem, and own our own MS licenses out in the cold.
March 29, 2021

Prophix 12 Review

William Van Hulzen | TrustRadius Reviewer
Score 9 out of 10
Vetted Review
Verified User
Incentivized

Prophix is being used for our financial reporting, planning/forecasting and hopefully on down the road for dashboards, detail sales reporting, etc.

The finance department is the main user of prophix, however, line departments are asked to input plan and forecast data for review and consolidation.

Prophix allows us to maintain current and historical data that was previously being handled by excel spreadsheets. Monthly consolidation of multiple entities, planning and forecasting are now done more quickly with detail and commentary that can be made part of the record.

  • Financial reporting and consolidations - flexible!
  • Planning and Forecasting - detail planning for headcount, capex, fixed assets, etc. and department mgrs. can input data.
  • Ad Hoc Analysis - ability to slice and dice data and drill down to transaction level.
  • Prophix needs to have a better interface with Excel for downloading, uploading, and analysis of data. Moving to the cloud (SaaS) and using web client solves this problem.
  • Report writing with smart client has a long learning curve, web client may be better but we are just getting started with web client.
  • Due to its flexibility Prophix requires dedicated training and use of consultants for implementation.
I can speak for a mid-sized company, once prophix is implemented and users are trained (requires consultants and dedicated effort by users) it can be a very useful tool to eliminate the use of excel spreadsheets and standardize reporting, planning and forecasting. It is flexible enough for "super" users to take it into areas of analysis and reporting that may not be possible for many such products, such as human resources, capex, fixed assets, commissions, anywhere a database or cube could hold data for analysis and reporting. Prophix is also cost effective, mid-market level, and opens up opportunities for companies that can't afford HFM or the like.
Rebecca Evans | TrustRadius Reviewer
Score 10 out of 10
Vetted Review
Verified User
We are using Prophix for budgeting and forecasting. We have rolled out the tool to all department managers. They love the line item detail feature. They are able to list each vendor/expense individually to ensure nothing is missed.

In addition, we use the Detailed Planning Manager to track payroll expenses by person and by department. It assists us in tracking employee turnover costs and to manage our expenses throughout the year. It allows us to calculate payroll tax from a variety of different countries.

The Ad Hoc function gives us the flexibility to "slice and dice" the data in numerous ways to provide quicker analysis.
  • The number one reason that I love Prophix is the customer support. Each person that I have come in contact with has been pleasant and most helpful. They will not quit until the customer is completely satisfied.
  • Cost analysis - the flexible design makes it easy to perform all sorts of analyses quickly.
  • Managing personnel costs due to employee turnover.
  • Calculate payroll taxes - Prophix database is a lot easier to manage than an Excel spreadsheet.
  • Reporting options are limitless with Template Studio. Prophix frees us from standardized reports that may not be appropriate for our business. We are able to tailor reports to our specific needs.
  • We love to be very accurate with our payroll costs and the personnel module that we built will not allow us to terminate employees mid-month.
Prophix is well suited for a company of our size. It is a great tool for forecasting and budgeting as it allows for flexibility. In addition, the cost of the product is not prohibitive and it is easy to learn and use.
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