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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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N/A
Unavailable

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

(1-25 of 43)
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Score 10 out of 10
Vetted Review
Verified User
Incentivized
Prophix is a very flexible system. They continually work on new features and improvements to the system. You do not have to wait for an annual upgrade if you using the cloud-based model. Enhancements and changes are updated seasonally. You are provided with excellent training tools and are offered to purchase a customer success plan that includes training and customer support. The system is well worth the investment we have made.
Score 10 out of 10
Vetted Review
Verified User
Incentivized
I have used other reporting software over the years and so far this has been the simplest to set up, the most flexible to use and we have not yet used Prophix to its full capacity. Over the next year or so I can see us extending our use of Prophix to include any number of other functions.
Score 9 out of 10
Vetted Review
Verified User
Incentivized
Prophix is easy to use once you're established with the software. We use Prophix for budgeting purposes and have over 50 users that have very few problems using the software. We've experienced some issues with slowness, mainly with cell comments, which we are hoping to fix with an upgrade. For the most part, users are happy with the system.
Score 9 out of 10
Vetted Review
Verified User
Incentivized
I think Prophix overall has been very intuitive and easy to grasp the basics of. We have a lot of users at my organization and it has been easy to get new users familiar with the system. It has improved the budget process and the collaboration across different teams. While I think there are some more complex features of Prophix, for an everyday user I am happy with the usability.
Joe Scheidecker | TrustRadius Reviewer
Score 9 out of 10
Vetted Review
Verified User
Incentivized
If you take the time to learn the nuts and bolts of the software, it becomes quite easy to navigate. For non-finance people, this may take more time and be an impediment to user adoption.
Score 9 out of 10
Vetted Review
Verified User
Incentivized
The interface is laid out in a clear manner and is easy to find the information that you are looking for. Switching between ad-hocs and reports and navigating the system is quick and painless.
February 28, 2022

Easy to Administer

Score 10 out of 10
Vetted Review
Verified User
Incentivized
Prophix web interface is so tremendously easy to use, especially compared to some of the competition. Interfaces are laid out in a very intuitive manner.
January 04, 2022

Prophix New User

Score 10 out of 10
Vetted Review
Verified User
Incentivized
I find report building difficult, but they do offer many training course through prophix academy and also a support system.
Emily Anauo | TrustRadius Reviewer
Score 10 out of 10
Vetted Review
Verified User
Incentivized
Our organization loves Prophix. We also love that they are always enhancing the product and take user feedback seriously. Prophix has enabled our organization for more accountability and cross function budgeting. Prophix has also saved our finance team approximately 15 hours every month end, allowing more time for proper analysis.
March 29, 2021

Prophix 12 Review

William Van Hulzen | TrustRadius Reviewer
Score 9 out of 10
Vetted Review
Verified User
Incentivized
Prophix is necessarily complex because it is a very flexible tool that can be used to solve just about any data analysis or reporting need. There is always a disconnect between the initial presentation of a software product and actual implementation and use. Be sure to allocate the necessary investment in time and money for consulting help and user training.
Score 9 out of 10
Vetted Review
Verified User
The system is very user friend and easy to navigate. There is a home page that can be customized depending on what a user needs and there is a main drop down that navigate everyone to where they want to go in the system.
Score 10 out of 10
Vetted Review
Verified User
Incentivized
Great for budgeting when multiple inputs are required across the organization. It is very helpful to have possible Excel templates for people who refuse change and are not into learning a new software.
Data is housed efficiently and it's easy to do ad hoc analysis.
Prophix is very easy to use and it has a nice interface.
October 02, 2020

Love Prophix

Score 9 out of 10
Vetted Review
Verified User
Incentivized
I think after an initial learning curve, it's very usable and allows for greater report creation, ad hoc reporting, and report manipulation to give you exactly what you need. Weve migrated over more and more departments in F&A over to prophix as we've expanded our functionality with them.
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