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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Lessons for Success
Journey Experience
Reporting Capabilities
Automation Capabilities
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Lessons for Success
We have also used the detailed planning manager for setting budgets and for our Going Concern calculations, …
Innovative Uses
We have managed to incorporate access to other software using the iFrame in the dashboard so that sales reports can be seen by …
Journey Experience
Reporting Capabilities
Automation Capabilities
We have not yet used workflow but plan on …
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Lessons for Success
-Utilizing workflows to ensure timely submission of requests from departments
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Innovative Uses
Journey Experience
Reporting Capabilities
Automation Capabilities
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Data Integration
Deployment
Lessons for Success
Innovative Uses
Journey Experience
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At the same time it provided the …
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Data Integration
Deployment
Lessons for Success
Journey Experience
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 (176)9.494%
- Management reporting (182)9.393%
- Financial budgeting (185)9.292%
- Forecasting (177)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.
- 7Customizable dashboards(10) Ratings
Customizable dashboards are dashboards providing the builder some degree of control over the look and feel and display options.
- 7.1Report Formatting Templates(10) Ratings
Ad-hoc Reporting
Ad-Hoc Reports are reports built by the user to meet highly specific requirements.
- 9.6Drill-down analysis(92) Ratings
Drill down analysis is the ability to get to a further level of detail by going deeper into the hierarchy.
- 8.5Formatting capabilities(90) Ratings
Ability to format output e.g. conditional formatting, lines, headers, footers.
- 8.8Report sharing and collaboration(87) 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(80) Ratings
- 8Report Versioning(60) Ratings
Report versioning is the assignment of version numbers to each version of a report to help in tracking.
- 9.2Report Delivery Scheduling(72) 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.
- 6.6Predictive Analytics(33) 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)(86) Ratings
Named model access means that users have access based on name and password.
- 8.8Role-Based Security Model(86) 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)(89) Ratings
Multiple access permission levels means that different levels of users have different rights.
- 8.6Report-Level Access Control(31) 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.
- 9.5Responsive Design for Web Access(44) 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(156) Ratings
3-5 year financial plan with cashflow.
- 9.2Financial budgeting(185) Ratings
Annual budget for revenue and operating expenses, headcount/compensation, capital expenses, projects, etc.
- 8.7Forecasting(177) Ratings
Combining actuals and budgets, rolling forecasts, driver-based models.
- 8.8Scenario modeling(143) Ratings
Financial or operational modeling of alternate future states and planning for each.
- 9.3Management reporting(182) 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.
- 7.7Multi-currency management(62) 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(108) Ratings
Ability to report against individual business entities and the consolidated umbrella entity.
- 7.4Detailed Audit Trails(88) Ratings
Tracing changes to data and processes that were run.
Financial Reporting and Compliance
Financial statements and regulatory filings
- 9.3Financial Statement Reporting(165) Ratings
Creation and production of balance sheets, income statements, cash flows, other schedules
- 9.4Management Reporting(176) Ratings
Tools facilitating creation of internal ad hoc or standard reports.
- 9.2Excel-based Reporting(160) 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(145) Ratings
Create custom dashboards and reports without the help of IT or administrators.
- 7.9Color-coded scorecards(104) Ratings
Track and analyze performances with interactive, color-coded balanced scorecards.
- 7.7KPIs(114) Ratings
Select from a library of more than 6,000 key performance indicators, and incorporate KPIs into your planning process.
- 7.6Cost and profitability analysis(115) Ratings
Cost and profitability analysis provides data for business decision making.
- 7.4Key Performance Indicator setting(93) Ratings
Ability to set key performance indicators for measuring progress towards goals.
- 7.3Benchmarking with external data(63) Ratings
CPI, daily exchange rates, industry KPIs. with scheduled data refreshes.
Integration
Ability to integrate with external applications.
- 9.2Flat file integration(142) Ratings
Integration of flat files like text documents and comma separated files
- 9.2Excel data integration(156) Ratings
Ability to integrate directly with Excel data.
- 9.5Direct links to 3rd-party data sources(136) 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
(285)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
(1-25 of 208)Efficient Report and Planning Tool
- Report Building
- Report Binders
- Security Manager
- Process Manager can be tricky and has a learning curve
- Planning templates can be a nuisance of setup and maintenance
- Charting capabilities need to be improved in the software
Flexible Reporting Tool
- The user interface is easy to work with.
- Budget streamlining.
- Flexibility.
- Large reports with multiple data views can be slow to open.
- Requires dedicated training and use of consultants for initial implementation.
- MDX can be challenging.
Perks of End User Engagement with Prophix
- Data Integration
- End User Engagement
- Reporting and Analytics
- Implementation Time
- Additional optionality is dashboard charts and reporting
- Ability to sort and filter within template studio
Innovative Budgeting & Forecasting Tool
- Budgeting
- Technical and Consultant Support
- Allocation of overhead
- Personnel Planning
- Process Manager UI/UX updates
- Template Studio Formatting messes up when items are added or removed or moved around within the data view
- Account Manager going over specific new features would be helpful
Great software for saving time
- Personnel Planning
- Report creation
- Budget setting
- Finding answers to questions can sometimes be difficult but I haven't found it impossible - yet
- The colour palette for charts and graphs in Dashboards could be bigger - allowing us to choose colours that match our company colours.
Mild improvements as far as the eye can see...maybe as we get new glasses, things will change...
- Report Consolidation
- Data Slicing and Dicing - How to view your information
- Automization of processes
- I've found only the administrator receives the full training -In my opinion, tool seems difficult and cumbersome to new users and those who only access once every few months
- In my opinion, Detail drill-down capabilities feel limited - Users may still have to rely on other systems to get more details
Ease of Use with Prophix.
- End User experience and ease of use.
- Running Allocations.
- Personnel Budgeting & Management.
- Ease of ad-hoc analysis.
- Drilling across to source data.
- Multiple platforms between FP&A, financial consolidations.
- Ease of connectivity to Power BI.
- More bundled packages with add-on capabilities and not having those based on a number of transactions.
Love Prophix
- Budget to actual
- Rolling forecast
- Allocations
- DPM hard to figure out.
Prophix Recommendation
- Ease of explanation
- Flexible to various users
- Very easy learning curve for material
- Providing information on individual transactions would be very helpful
- ease of creating new connections to other software (particularly for the DPM)
- A better database of common questions that arise during the use of the product
Prophix is simply AMAZING
- User Friendly Platform
- Great Customer Service
- Security Features
- Template Studio - Building from scratch
- Data Integration
- Excel features - not all available in Prophix
Prophix for us
- Budgeting
- Forecasting
- Reporting
- Install for fat client
- ease of use
- better dashboards
Prophix - the perfect match
- Allows for easy structuring of a groups legal entities and business units
- Manages multiple currency organizations
- Automates a large portion of the monthly consolidation process
- Processing speed
- Ability to edit templates doesn't function exactly as an excel sheet would
- Import processes should automatically update for the following year if user selects 'no changes'
Rich's Review
- Affordable
- Excel Plug in is very useful
- Model manager provides great flexibility
- Excel Plug in can be glitchy and does no always save changes back to the server
- Excel Plug in can only be used for ad hoc reports; if this had template functionality, would be a significant improvement
- Task log error messages are difficult to interpret
Modernized Budgeting, Planning, and Reporting
- Allocation of costs between departments and across divisions is made easy. Once the initial setup has been completed, the logic is applied across the company for budgeting and planning.
- Personnel planning is very straightforward and easy to maintain. All calculations are set up and applied as new personnel are added. It is easy to update rates, without having to update for each staff member individually.
- The system is very flexible for report creation. Basic parameters are required. Actual financial data is provided via a data view, rather than pulling data into the solution and storing it. This is great as it is not taking up additional storage for data that exists elsewhere.
- When clients are signed on and implementation begins, clients should be given access to Prophix Academy and told they should complete the pre-implementation training prior to starting implementation. This would provide the client with some basic structure of the system allowing them to ask educated questions throughout the implementation process.
- Given that we have only been using the system for approximately 7 months, I do not have any other suggestions for improvement at this time.
Prophix - Rich Features & Functionalities.
- Run & Change Cost for IT Finance related to Labor & Non-Labor.
- Project Resources and Program Management.
- Opex Reporting & Analyzing.
- We can utilize in other Departments to manage their forecast/planning.
- Opex & Project Controlling sub-department.
- Consolidated reporting for Opex & Project Controlling.
Prophix... Worth It!
- Report customization
- Easy to use interface
- Support
- Within the Template studio, great ability for customization would be nice.
- DPM schedule inputs have been reported hard to use.
- Greater flexibility with dashboarding.
Moving forward with Prophix
- Forecasting
- End User Reporting
- Budgeting
- Price points
- Import functionality
- Template Updates
Forecast the future: Prophix.
- Ad hoc analysis is a useful tool to quickly look things up.
- Info flexing information between forecast versions is a great tool.
- Microsoft 365 integration has been a great addition as well.
- Report Binders - more filtering options.
- Making dashboard building simpler.
- More flexibility in template building (less rigid).
Prophix is the BEST!
- Consolidate trial balances with multiple currencies
- Dynamic reporting capabilities in Prophix and in excel
- Workflows and Report Binders
- Financial Planning with their Detail Personnel Manager and CAPEX modules
- Recommended dashboards
- Improve excel formulas; they can be difficult to remember what dimensions go where in the formula
Budgeting Game Changer
- Data Roll Up within multiple companies/departments
- Workflow Management for Regular or Seasonal Tasks
- Budget building
- The dashboard functionality is very elementary.
- Stock reporting to help get things going would be helpful.
Personnel Budgeting and Forecasting is top notch
- Reporting in multiple ways without much extra effort
- Budgeting for personnel
- Most allocation uses are easy, but allocating from one account to multiple accounts is difficult
- Sometimes, formatting a report after changing something is annoying, but it has gotten better
Improve your end user satisfaction with Prophix and provide meaningful reports quicker to management.
We also use it for monthly financial reports to management. Monthly reporting to the board.
We have now started to look into the new functionality of Predictive Forecasting. It is still in early stages but it has great potential.
Prophix also gave us the ability to analyze data much quicker. Ad hoc functionality is a great tool for slicing and dicing data.
- Integrates with Sage X3
- Workflow functionality
- Quick reporting of data without any lag in time
- Provides tools to create many custom reports
- Editing functionality of charts and graphs in dashboard
- Ability to process higher combinations of data in Predictive Forecasting
Prophix
- Ad Hoc reporting allows the user to look at data in a variety of ways
- Once the templates are set up correctly, there is little maintenance and a low chance of accidentally changing formulas
- Processes are great for efficiently moving data
- We have struggled with slow load times due to the complexity of our set up but are working with Prophix to resolve this.
Use Prophix to Build Your Budget
- Budget personnel
- Budget revenue
- Budget depreciation
- formatting of upload files can be tricky
- error messaging could be better
- there can be a lag when cycling through data
Prophix for Budget/Reporting
- Easy Board reporting build
- Access to information quickly after daily interface
- Budgeting at a management level
- Waterfall graphs could use improvement
- Building Word documents with all the reviews
- Formatting could be expanded