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…
Prophix - Rich Features & Functionalities.
Prophix... Worth It!
Moving forward with Prophix
Forecast the future: Prophix.
Prophix is the BEST!
Budgeting Game Changer
Personnel Budgeting and Forecasting is top notch
Improve your end user satisfaction with Prophix and provide meaningful reports quicker to management.
Prophix
Great software for saving time
Use Prophix to Build Your Budget
Prophix for us
Prophix for Budget/Reporting
Prophix has helped streamline many processes!
How Prophix Differs From Its Competitors
Annual Budget Planning
Lessons for Success
Innovative Uses
Reporting Capabilities
Automation Capabilities
Annual Budget Planning
Data Integration
Deployment
Lessons for Success
Reporting Capabilities
Annual Budget Planning
Data Integration
Deployment
Lessons for Success
Innovative Uses
Annual Budget Planning
Annual Budget Planning
Data Integration
Deployment
Lessons for Success
The ease of distributing month end reports or any reports is also a …
Innovative Uses
Journey Experience
Reporting Capabilities
Automation Capabilities
We also use template pre-population for our budgeting/forecasting process to give our users a starting point for their budgets/forecasts.
Annual Budget Planning
Data Integration
Deployment
Annual Budget Planning
We have increased end used collaboration and accountability.
We have decreased our month end close due to being able to run multi tiered allocations much quicker.
We have the …
Data Integration
Deployment
We are in the process of moving to the cloud and are very excited to do so!
Lessons for Success
Innovative Uses
Journey Experience
Reporting Capabilities
Automation Capabilities
Annual Budget Planning
Data Integration
Deployment
Annual Budget Planning
Annual Budget Planning
Annual Budget Planning
Annual Budget Planning
Annual Budget Planning
Annual Budget Planning
Annual Budget Planning
Annual Budget Planning
Annual Budget Planning
Annual Budget Planning
Annual Budget Planning
Annual Budget Planning
We have not been using Excel for budgeting but just for a supporting tool.
Annual Budget Planning
Data Integration
Deployment
Lessons for Success
Reporting Capabilities
Automation Capabilities
Annual Budget Planning
Data Integration
We actually set up a new chart of accounts in prophix, which is different from our legacy system due to how bad it was initially set-up. We have automated the mapping and integration of data from our main system and use flat file uploads from Excel templates for consolidated entities. Automating …
Deployment
Reporting Capabilities
Automation Capabilities
Annual Budget Planning
Lessons for Success
Annual Budget Planning
Lessons for Success
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 (169)9.393%
- Financial budgeting (178)9.090%
- Management reporting (175)9.090%
- Forecasting (170)9.090%
Reviewer Pros & Cons
Pricing
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
Offerings
- Free Trial
- Free/Freemium Version
- Premium Consulting/Integration Services
Would you like us to let the vendor know that you want pricing?
71 people also want pricing
Alternatives Pricing
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…
Features
BI Standard Reporting
Standard reporting means pre-built or canned reports available to users without having to create them.
- 7.3Customizable dashboards(3) Ratings
Customizable dashboards are dashboards providing the builder some degree of control over the look and feel and display options.
- 8Report Formatting Templates(4) Ratings
Ad-hoc Reporting
Ad-Hoc Reports are reports built by the user to meet highly specific requirements.
- 9.5Drill-down analysis(85) Ratings
Drill down analysis is the ability to get to a further level of detail by going deeper into the hierarchy.
- 8.6Formatting capabilities(84) Ratings
Ability to format output e.g. conditional formatting, lines, headers, footers.
- 8.4Report sharing and collaboration(80) 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.
- 9Publish to PDF(74) Ratings
- 8Report Versioning(54) Ratings
Report versioning is the assignment of version numbers to each version of a report to help in tracking.
- 9.2Report Delivery Scheduling(67) 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.
- 7.3Predictive Analytics(27) 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)(80) Ratings
Named model access means that users have access based on name and password.
- 8.8Role-Based Security Model(80) 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)(83) Ratings
Multiple access permission levels means that different levels of users have different rights.
- 8.6Report-Level Access Control(25) 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(40) 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
- 9Long-term financial planning(149) Ratings
3-5 year financial plan with cashflow.
- 9Financial budgeting(178) Ratings
Annual budget for revenue and operating expenses, headcount/compensation, capital expenses, projects, etc.
- 9Forecasting(170) Ratings
Combining actuals and budgets, rolling forecasts, driver-based models.
- 9.5Scenario modeling(137) Ratings
Financial or operational modeling of alternate future states and planning for each.
- 9Management reporting(175) 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(124) Ratings
Consolidating data from several entities into a single statement using US GAAP, IFRS or other standards.
- 9.3Journal entries and reports(76) Ratings
Ability to enter journal entry adjustments and produce reports showing all journal entries for a specific period.
- 8.1Multi-currency management(59) Ratings
Ability to handle foreign currency conversions during consolidation.
- 8.8Intercompany Eliminations(70) Ratings
Matching and elimination of intercompany revenue, expenses, and balance sheet accounts.
- 7Minority Ownership(27) Ratings
Consolidate financials full or partial ownership of subsidiaries, equity pick-up.
- 9Local and consolidated reporting(104) Ratings
Ability to report against individual business entities and the consolidated umbrella entity.
- 7.4Detailed Audit Trails(84) Ratings
Tracing changes to data and processes that were run.
Financial Reporting and Compliance
Financial statements and regulatory filings
- 9.1Financial Statement Reporting(158) Ratings
Creation and production of balance sheets, income statements, cash flows, other schedules
- 9.3Management Reporting(169) Ratings
Tools facilitating creation of internal ad hoc or standard reports.
- 8.9Excel-based Reporting(153) Ratings
Ad hoc or formatted reports using MS Excel.
- 8.6Automated board and financial reporting(132) Ratings
Tools to help automate creation of regulatory reports such as SEC filings and board books.
- 6.4XBRL support for regulatory filing(3) 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(140) Ratings
Create custom dashboards and reports without the help of IT or administrators.
- 8Color-coded scorecards(100) Ratings
Track and analyze performances with interactive, color-coded balanced scorecards.
- 7.8KPIs(109) 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(109) Ratings
Cost and profitability analysis provides data for business decision making.
- 7.5Key Performance Indicator setting(88) Ratings
Ability to set key performance indicators for measuring progress towards goals.
- 7.5Benchmarking with external data(59) Ratings
CPI, daily exchange rates, industry KPIs. with scheduled data refreshes.
Integration
Ability to integrate with external applications.
- 8.9Flat file integration(135) Ratings
Integration of flat files like text documents and comma separated files
- 8.9Excel data integration(149) Ratings
Ability to integrate directly with Excel data.
- 9.3Direct links to 3rd-party data sources(130) Ratings
Integration with external applications like ERP, CRM, HCM
Product Details
- About
- Integrations
- Competitors
- Tech Details
- Downloadables
- FAQs
What is Prophix?
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
Prophix Videos
Prophix Integrations
Prophix Competitors
Prophix Technical Details
Deployment Types | On-premise, Software as a Service (SaaS), Cloud, or Web-Based |
---|---|
Operating Systems | Windows, Mac |
Mobile Application | Mobile Web |
Supported Countries | Denmark, United Kingdom, Germany, Brazil |
Prophix Downloadables
- 7 Ways to Reduce the Time You Spend 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
Compare with
Reviews and Ratings
(271)Attribute Ratings
- 10Likelihood to Renew16 ratings
- 9.2Availability25 ratings
- 8.6Performance24 ratings
- 8.9Usability43 ratings
- 8Support Rating120 ratings
- 8.7Online Training12 ratings
- 8.3In-Person Training10 ratings
- 9Implementation Rating19 ratings
- 8.7Configurability11 ratings
- 9.1Product Scalability22 ratings
- 8.6Ease of integration27 ratings
- 8.8Vendor pre-sale18 ratings
- 9.1Vendor post-sale20 ratings
Reviews
(51-75 of 201)Love Prophix
- Month End Financial Statement Binders
- Budgeting
- Ad Hoc reporting
- More detailed error messages
- 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.
Prophix New User
- 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
Flexible and cost effective mid market CPM solution
- 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.
Prophix
- 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.
Great software - excellent for multi currency
- Consolidation
- Currency conversion
- Multi currency reporting
- Budgeting
- MDX requirements
- Report formatting
Our One Source Of Truth
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.
Powerful and flexible reporting tool
- 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
Non-Profit Health Care Related Prophix Review
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.
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.
Satisfied and Worth It
- 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.
Prophix - a review from project management
- 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 Review
- 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 is very flexible and adaptable
- 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
- Financial Reporting
- Planning
- Ad Hoc Analysis
- Time and Resources necessary to train end users
Prophix is flexible and saves us time and money
- 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 Delivers Great Value, Functionality and Customer Service! They Care About their Customers.
- 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: A one stop shop for all your data
- 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 is everything it is sold to be.
- 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
Prophix Review - Accurate and Efficient Budgeting
- 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!
Prophix For Budgeting. Results, and Operations
- 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.
Prophix Platform ... less taxing
- 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 review
- 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 - Does the job well
- Financial Reporting
- Version Control
- Ad Hoc Analysis
- Prophix for Excel Stability
- Data Import Functions
- User Interface
Prophix 12 Review
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.
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.