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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 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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Prophix Supporter

10 out of 10
September 01, 2023
Incentivized
We use Prophix to prepare our month end finacial package, to create our annual budget, maintain dash boards, and assist with month end …
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Review of Prophix

10 out of 10
August 27, 2023
Incentivized
We use Prophix for our reporting, budgeting and forecasting within the accounts department. It successfully captures the different …
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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 38 features
  • Management Reporting (162)
    9.1
    91%
  • Management reporting (167)
    8.7
    87%
  • Financial budgeting (169)
    8.7
    87%
  • Forecasting (162)
    8.6
    86%

Reviewer Pros & Cons

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Video Reviews

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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

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 Budgyt?

Budgyt is a platform made to simplify business budgeting. With built-in functions designed for data integrity, team collaboration, and scenario planning & analysis, Budgyt is presented as an optimized budgeting experience that rids users of complex, error-prone spreadsheets and the time-consuming…

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Features

Ad-hoc Reporting

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

8.6
Avg 8.4

Report Output and Scheduling

Ability to schedule and manager report output.

8.5
Avg 8.3

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.

7.2
Avg 7.8

Access Control and Security

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

8.6
Avg 8.8

Mobile Capabilities

Support for mobile devices like smartphones and tablets.

8.5
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

8.6
Avg 8.5

Consolidation and Close

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

7.8
Avg 8.2

Financial Reporting and Compliance

Financial statements and regulatory filings

7.7
Avg 8.5

Analytics and Reporting

Dashboards and scorecards for KPI monitoring and benchmarking

7.5
Avg 8.1

Integration

Ability to integrate with external applications.

8.7
Avg 8.4
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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

Additional Features

  • Supported: Profitability Analysis
  • Supported: Personnel Planning
  • Supported: Sales & Revenue Planning
  • Supported: Cash Flow Planning
  • Supported: Cross Company Planning
  • Supported: CapEx Planning
  • Supported: Reporting
  • Supported: Project Planning
  • Supported: Scenario Planning
  • Supported: Financial Consolidation & Close
  • Supported: Anomaly Detection
  • Supported: AI (Artificial Intelligence)
  • Supported: Visual Analytics

Prophix Screenshots

Screenshot of Prophix software's CPM solution that enables collaboration. Prophix provides a unified CPM solution for budgeting, planning, forecasting, reporting, and financial consolidation.Screenshot of Prophix Visual Analytics, which makes working with data easier and more intuitive for CPM users. It offers one click information access and structured visual data discovery users can see the value in their data.Screenshot of Ad hoc analysis and templates with Prophix which search capabilities for analysis and template creation so users can interrogate and navigate across multidimensional data to get to what is needed in a few clicks.Screenshot of Workflows with Prophix that provide a quick, interactive overview of the tasks a user is responsible for, either as a direct owner, or something that has to be approved. Workflow allows users to filter and show the tasks that are in progress, past due or finished with a clean interface, showing relevant, important items right away.

Prophix Videos

Prophix develops Corporate Performance Management (CPM) software that integrates financial budgeting, planning, reporting, forecasting, consolidation, analytics, scorecards and dashboards in a single, unified application budgeting software tool.
In less than 2 minutes this video shows how Prophix offers the ability to tailor financial statements and management reports so that information is delivered in a way that’s both insightful and meaningful. Prophix provides structure reports around business requirements in a dynamic environment.
A short 1.5 minute overview about how Prophix gives a clear picture of operational costs and connects them with key factors that drives revenue. That increased line-of-sight is made possible because Prophix tracks and monitors all day-to-day operational planning activities. Im...
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A short 1.5 minute overview about how Prophix provides a clear picture of operational costs and connects them with key factors that are drive a company's revenues. That increased line-of-sight is made possible because Prophix tracks and monitors all day-to-day operational plan...
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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 Drill-down analysis and Financial data consolidation highest, with a score of 9.3.

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

(258)

Attribute Ratings

Reviews

(1-10 of 10)
Companies can't remove reviews or game the system. Here's why
Joe Scheidecker | TrustRadius Reviewer
Score 9 out of 10
Vetted Review
Verified User
Incentivized
Prophix does a nice job ensuring users have a working knowledge of the system depending on the user's role within the system. Training during and after implementation is available and a vast library of resources are available to new users.
September 13, 2021

Our One Source Of Truth

Tom Samuelson | TrustRadius Reviewer
Score 10 out of 10
Vetted Review
Verified User
Incentivized
During the implementation process we covered a lot of material in a short period of time. Our trainer was available via phone or e-mail for several weeks after our initial training for any questions that we had. After about 3 months on the system we brought our trainer in for additional training and model development.
Score 9 out of 10
Vetted Review
Verified User
Incentivized
The initial integration consultant was very helpful in making sure we were set up with all the essential uses we required: reporting/budgeting/forecasting. There was a learning curve but our consultant made it very easy to understand and helped me be comfortable in my Global Admin role in the system. Even after integration, we were given support whenever I came up with an idea I would get in touch and I would be trained on how I can implement it.
Narine Chalumyan MBA | TrustRadius Reviewer
Score 8 out of 10
Vetted Review
Verified User
Incentivized
Excellent training for travelling was very detailed and helpful. Person who trained me was patient and knowledgeable about system.
The cons for training on site it moves very fast and sometimes you will not have enough time to learn and absorb all the information. However hands on training is excellent.
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