Prophix

Prophix

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Top Rated
TRUE
Score 8.4 out of 10
Top Rated
TRUE
Prophix

Overview

What is Prophix?

Prophix offers a Corporate Performance Management (CPM) software that enables budgeting, planning, and reporting. Prophix emphasizes the software’s ability to automate data management and reporting tasks.
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Recent Reviews

Prophix for us

9 out of 10
January 19, 2023
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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Budgeting Process Made Easy

10 out of 10
December 30, 2022
Our business problem that Prophix resolved was to make the budgeting process easier for the end user. We wanted a system that will be easy …
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Easy to Administer

10 out of 10
February 28, 2022
Used as data aggregation & reporting tool. We're utilizing this to export Multi-tab workbooks & provide reporting to executive level …
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How Prophix Differs From Its Competitors

Annual Budget Planning

Our budgeting process has not evolved, and we are still using excel for the majority of our business units. We have a lot of individuals responsible for budgeting which are not users within Prophix based on our licensing, so at the present time, there is no way around this.
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Annual Budget Planning

we used Excel a lot less for our most recent budget. The biggest benefit was seen with personnel planning which is easy to use, yet very customizable. It would be very challenging for us to budget headcount in Excel given our structure.
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Annual Budget Planning

It has made our users be able to save different version, not copy over each other, make the finance team more involved in decisions and less in maintaining reports. It makes management have time to make decisions and not have to look for the correct report because it is already in Prophix.
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Annual Budget Planning

It helped us tremendously when it came to transitioning from excel based budgeting to web-based budgeting. Made for more accurate, trustworthy reporting now that it streamlined the budgeting process. It gives finance complete control and transparency into the numbers as well.
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Annual Budget Planning

Prior to Prophix we were Excel based when budgeting which was hard to match formats and accounts between business units. When converting to Prophix we were able to allow for manager login and take full ownership of their departments and budgets. Overall, the process was easier, and everyone was on …
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Annual Budget Planning

Prophix has significantly helped with this as we have essentially moved all Excel-based budgeting and planning processes to Prophix. There are some supporting spreadsheets that we still use Excel for and then enter the data manually into Prophix, but there as been no need to fill out budget …
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Annual Budget Planning

Our budgeting used to be entirely in Excel. Prophix has allowed us to keep departmental managers using Excel but allowed us to import the documents we get in and export out Excel documents that users are used to working with.
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Lessons for Success

It has been very easy to work with prophix and what we want from our reporting standards. Because of their processes, we have been able to streamline our reporting which is key for analysis
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Annual Budget Planning

Prophix has made it easier to combine various budget components in a much simpler fashion than in the past. In that sense it has allowed somewhat of a transition away from Excel based budgeting and planning. However a lot of the individual budget components are still developed within Excel before …
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Annual Budget Planning

We now utilize Prophix as our 'Source of Truth' for all core Financial information, including monthly actuals and plans (Budget & Forecast). This has allowed us to migrate away from multiple versions of data within disparate spreadsheets that may or may not be the most current information, and …
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Annual Budget Planning

Prophix allows for the integration of financial and personal data which makes it easy to review and make adjustments during the budget process. It is also better than Excel as multiple inputs can be made at the same time and the changes can be seen reflected in real time.
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Annual Budget Planning

It's added lots of flexibility in creating models & organizing our workforce for keeping track of where we are in the month end close process and planning cycle. The monthly planning cycles are much easier to close and ensure all formulas are accurate & consistent
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Data Integration

We import data from 10 different sources, easily. The flat files let us provide non-standard data feeds from various places (HR, Operations teams). The direct SQL lets us query simply & efficiently. Excel Imports let us bring data in from all the other places we need. The scheduler work great, and …
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Deployment

This is not important at all. We prefer to have our financial information deployed private network with no external cloud access.
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Lessons for Success

Consolidating P&L from three different source Accounting systems.
We had one go down due to corrupted backup and were able to close the month using a manual upload with existing template in a matter of hours

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Reporting Capabilities

The Cell comments are tremendously helpful - we use them for monthly reviews of each client + team performance.
Importing data from our other EDW systems to create productivity measures help quantify changes in financial performance
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Annual Budget Planning

We have not completely moved away from Excel-based Forecasting, the only reason being that our Revenue Cube is still under construction. We use DPM to plan our Personnel and CAPEX Planning and that has helped us considerably. We use Generic cubes to Forecast our Lease Expenses, Loan Liabilities, …
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Annual Budget Planning

With our first-year budgeting completed in Prophix, we are starting to see employees buy into the reliability of the software. Users are starting to move away from excel and asking for reporting to be made in Prophix. This is helping with planning and budgeting ensuring fewer human error mistakes …
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Annual Budget Planning

It helped with bottoms up planning with business units and instead of using excel template, we were able to use the tool to get the budgeting summited by them and roll up the budget at a faster pace.
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Lessons for Success

Prophix has helped us achieve a streamlined efficient budget process which involves the entire company through workflows and direct input templates. Its controlled and clean as well as Prophix has simplified our internal reporting based of the General ledger. The DPM module is quite efficient in …
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Journey Experience

The first and every interaction with Prophix has been pleasant. They whole notion is to help you see the how they can add value to you and your organization instead of being a pushy sales pitch team. There consulting or audit engagements go in the same way, where the prophix staff is prompt to …
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Annual Budget Planning

We continue to use Excel, however integration with Prophix is easy since it can be integrated and even can copy and paste from Excel into Prophix. That being said, [from my experience] Excel is used across the organization and comes with unlimited licenses for our organization and therefore it is …
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Annual Budget Planning

We have not used Microsoft Excel for budgeting yet but this year will be the first year we do so. Our employees out in the field are looking forward to it!
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Annual Budget Planning

Prophix has helped us completely move our annual operating budget and major grant budgets out of the Excel Workbooks and into their cloud-based platform, which provides easier access for our end users and a central location for the most current, up-to-date budget. no more wondering if everyone is …
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Annual Budget Planning

Rather than multiple tabs and spreadsheets, prophix has helped us consolidate our information. We are able to only send relevant information to the directors, which is easily accomplished. Dashboards can be updated for quick access to specific users.
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Lessons for Success

Change is good. It's hard to move beyond our comfort zone and explore new territory. Prophix is user friendly, and honestly can be frustrating at times to find files or manipulate data. The more you use it, the more comfortable you become.
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Innovative Uses

Off hand none come to mind, we use it for payroll reporting, hourly employee inquiries, employee management, and the list goes on.
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Annual Budget Planning

We were able to move from spending an inordinate amount of time collecting and consolidating Excel files to a single unified platform for ledger consolidation, reporting and analysis. It greatly increased the quality of our data, time to turn around budgets and forecasts and streamlined our annual …
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Data Integration

Integration is possible. We used a Prophix consultant to set up a links to the local systems our company uses. We have connected to 3 different systems which we import ledger data daily. It is also possible to import data files if a direct connection is not possible. Once established, the process …
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Deployment

Cloud is very important based on how our organization is structured. We also use on-premise (hybrid solution) due the functionality we require but our aim is to make the switch to cloud only at some point. We are currently on prem and system locks and performance can be an issue but we expect that …
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Reporting Capabilities

We use line item details to provide context to numbers which saves time from having to reach out of the details. Cell commentary use has been limited. We are not using workflow commentary at the moment.
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Annual Budget Planning

We're able to open processes to multiple users (finance owners of each of our multiple product lines) so that they are able to submit budgets and forecasts within Prophix. My team then consolidates all submissions within Prophix and works through high level adjustments/consolidating changes. It's …
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Data Integration

Our data from our general ledger (PeopleSoft) sometimes runs into errors/issues when importing after month-end close. We often have to contact Prophix for assistance. We'd prefer to be able to troubleshoot ourselves, but sometimes are not given a thorough explanation as to what went wrong in the …
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Deployment

We've been utilizing the cloud for over a year now. We enjoy the cloud environment for the most part. The integration was difficult and time consuming for my team.
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Lessons for Success

We've had success automating our budgeting & forecasting process. We also use this as our main reporting tool and utilize the many drill across options so that we can dive into AP detail, T&B detail, journal line detail, etc. all in one system without having to run queries.
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Annual Budget Planning

We are still adjusting to using Prophix more, but the move from excel to Prophix for most users has been relatively smooth. The software allows version control and the ability track changes easily, which cannot be done in excel. Templates can easily be created, meaning information is submitted in …
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Annual Budget Planning

It has allowed us to do away with almost all of our Excel based budgeting. As I said before it also gives us one source of truth so you do not have to worry about who has the most current version of an Excel spreadsheet. Prophix does allow you to export files to Excel or PDF for non-Prophix users.
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Data Integration

We have a data feed from Sage every hour for our revenue, expenses, depreciation, etc. We have it set up so if there is a problem with the data feed that it alerts us with an e-mail. This allows us to address that error if and when it occurs. This data feed allows Prophix to be updated with actual …
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Deployment

We are presently on-premise. We are, however, looking at moving it to the cloud so having the availability of that functionality is very important to us. The cloud version has several great features and upgrades that we would like to use but are unable to use with the on-premise version.
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Lessons for Success

Prophix has allowed us to greatly reduce our Excel dependency for budgeting, planning and re-forecasting. It has also made it much easier to get input from more people during the budgeting, planning and re-forecasting process.

The ease of distributing month end reports or any reports is also a …
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Innovative Uses

We use Prophix in the personnel realm to calculate and track headcount. We also use it to track proposed additional personnel needs and the cost of those additional personnel.
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Journey Experience

Our experience with the Prophix team has been first rate from the pre-implementation process to the implementation process to their support after we were implemented and up and running fully. We can reach out to Prophix support and set up appointments to answer any questions we have or assist us …
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Reporting Capabilities

We have used line item detail a great deal in our budgeting/forecasting process. It allows us to capture and highlight all of the detail that goes into the plan/forecast for each account. Line item details allows us to convey all of the details that make up an accounts budget or forecast. It also …
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Automation Capabilities

We use the automated report distribution. Each month end we have it set up to send out all financial reports to the appropriate person or persons.

We also use template pre-population for our budgeting/forecasting process to give our users a starting point for their budgets/forecasts.
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Annual Budget Planning

Prophix reports can easily replace periodic replicating of spreadsheets. Actual performance is easily tracked and compared against budgets. budgets can be easily flexed and/ or rolled forward. Workflows can optionally be set up which formalise the process and allow for appropriate levels of review …
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Data Integration

Prophix is a highly powerful product capable of reporting on data from multiple sources. We hae multiple systems automatically importing into Prophix every night, and additional imports can be manually scheduled as required. Implementation of such systems is complex; for best results invest in one …
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Deployment

The cloud-based version is a helpful feature and most customers moving to cloud; the pros and cons of cloud versus on-premise are well discussed elsewhere. For us and most other customers it is a question of if rather than when we will move to the cloud. We appreciate that both are supported until …
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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 37 features
  • Financial budgeting (150)
    9.1
    91%
  • Management Reporting (144)
    9.1
    91%
  • Management reporting (149)
    9.1
    91%
  • Forecasting (143)
    9.0
    90%

Reviewer Pros & Cons

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Video Reviews

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Pricing

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What is Prophix?

Prophix offers a Corporate Performance Management (CPM) software that enables budgeting, planning, and reporting. Prophix emphasizes the software’s ability to automate data management and reporting tasks.

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?

43 people want pricing too

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Product Demos

Corporate Performance Management by Prophix
01:46
Reporting & Analysis
02:00
Operational Planning
01:43
Operational Planning
01:43
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Features

Ad-hoc Reporting

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

8.6Avg 8.4

Report Output and Scheduling

Ability to schedule and manager report output.

8.6Avg 8.3

Data Discovery and Visualization

Data Discovery and Visualization is the analysis of multiple data sources in a search for pattern and outliers and the ability to represent the data visually.

7.5Avg 7.7

Access Control and Security

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

9.1Avg 8.8

Mobile Capabilities

Support for mobile devices like smartphones and tablets.

8.4Avg 7.8

Budgeting, Planning, and Forecasting

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

8.7Avg 8.5

Consolidation and Close

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

7.6Avg 8.3

Financial Reporting and Compliance

Financial statements and regulatory filings

8Avg 8.5

Analytics and Reporting

Dashboards and scorecards for KPI monitoring and benchmarking

7.4Avg 8.0

Integration

Ability to integrate with external applications

8.3Avg 8.6
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Product Details

What is Prophix?

Prophix’s Corporate Performance Management (CPM) software promises to help users achieve goals more successfully.

Key capabilities and benefits include:

  • Improve profitability and minimize risk when you automate repetitive tasks and focus on what matters.
  • Budget, plan, consolidate and report automatically.

Whether in the cloud or on-premise, Prophix promises to support the user's future with a platform that flexes to suit strategic realities, today and tomorrow. 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

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

Ad-hoc Reporting Features

  • Supported: Drill-down analysis
  • Supported: Formatting capabilities
  • 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 is the right balance of simplicity and depth of functionality, delivering a CPM solution that is easy, powerful and enables collaboration. Prophix provides a single, unified CPM solution for budgeting, planning, forecasting, reporting, and financial consolidation.Screenshot of Prophix Visual Analytics makes working with data easier and more intuitive for CPM users. With one click information access and structured visual data discovery users can easily see the value in their data.

Uncover powerful insights with stunning interactive charts and graphs
Accelerate the path to analysis
Quickly see data from various viewpoints and perspectives
Enable many users to interact and adjust data on-the-flyScreenshot of Ad hoc analysis and templates with Prophix have search capabilities for quick analysis and template creation so that you can interrogate and navigate across multidimensional data to get to exactly what you need in just a few clicks.Screenshot of Workflows with Prophix provide a quick, interactive overview of the tasks you are responsible for, either as a direct owner, or something that you have to approve. Workflow allows you to filter and show you all the tasks that are in progress, past due or finished with a clean interface, showing you 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 see how Prophix gives you the ability to tailor your 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 an error-...
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See a short 1.5 minute overview about how Prophix gives you a clear picture of all your operational costs and connects them with key factors that are driving your revenues. That increased line-of-sight is made possible because Prophix tracks and monitors all day-to-day operati...
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See a short 1.5 minute overview about how Prophix gives you a clear picture of all your operational costs and connects them with key factors that are driving your revenues. That increased line-of-sight is made possible because Prophix tracks and monitors all day-to-day operati...
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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 offers a Corporate Performance Management (CPM) software that enables budgeting, planning, and reporting. Prophix emphasizes the software’s ability to automate data management and reporting tasks.

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

Reviewers rate Financial data consolidation highest, with a score of 9.2.

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

(1-25 of 104)
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February 28, 2022

Easy to Administer

Score 10 out of 10
Vetted Review
Verified User
We import data from 10 different sources, easily. The flat files let us provide non-standard data feeds from various places (HR, Operations teams). The direct SQL lets us query simply & efficiently. Excel Imports let us bring data in from all the other places we need. The scheduler work great, and has many flexible features. Would love to be able to just right click & re-run a process - but it's not too difficult to open the original file & run it on demand.
Score 9 out of 10
Vetted Review
Verified User
Integration is possible. We used a Prophix consultant to set up a links to the local systems our company uses. We have connected to 3 different systems which we import ledger data daily. It is also possible to import data files if a direct connection is not possible. Once established, the process runs smooth. We did however have to purchase a 3rd party license for systems that didn't have a compatible driver.
September 21, 2021

Prophix

Score 8 out of 10
Vetted Review
Verified User
Our data from our general ledger (PeopleSoft) sometimes runs into errors/issues when importing after month-end close. We often have to contact Prophix for assistance. We'd prefer to be able to troubleshoot ourselves, but sometimes are not given a thorough explanation as to what went wrong in the first place.
September 13, 2021

Our One Source Of Truth

Tom Samuelson | TrustRadius Reviewer
Score 10 out of 10
Vetted Review
Verified User
We have a data feed from Sage every hour for our revenue, expenses, depreciation, etc. We have it set up so if there is a problem with the data feed that it alerts us with an e-mail. This allows us to address that error if and when it occurs. This data feed allows Prophix to be updated with actual data every hour so it is about as close as you can get to real time system.
Score 8 out of 10
Vetted Review
Verified User
Prophix is a highly powerful product capable of reporting on data from multiple sources. We hae multiple systems automatically importing into Prophix every night, and additional imports can be manually scheduled as required. Implementation of such systems is complex; for best results invest in one of their customer success packages for full support.
Score 9 out of 10
Vetted Review
Verified User
The imports from our ERP and other 3rd party sources are done with a click of a button through the Process Manager feature. This was set up at implementation and has been a great experience seeing how quickly the data transfer over. If there are any discrepancies the error log will inform you if there is a newly created GL code and is easy to reconcile.
Joe Scheidecker | TrustRadius Reviewer
Score 9 out of 10
Vetted Review
Verified User
Data integration is complex but easier if you can write SQL queries. We have myriad data sources we use to import into Prophix - SQL queries, Excel files, text files, etc. Data Connectors are easy to setup once you've done a few. You can setup processes to automate the import of data which really is a nice feature.
Score 6 out of 10
Vetted Review
Verified User
Previously we used MS Navision and Prophix would pull the data directly based on an automated nightly job (both systems use SQL). We recently changed to SAP as our ERP and Prophix does not play well with SAP... we are now required to manually dump data in 2 files from SAP, and then perform manual loads using about 13 different jobs to get the data into Prophix. It has definitely set us back 2 days per month. I don't fault Prophix, but it would be nice if it played better with SAP given SAP is the biggest thing out there.
March 29, 2021

Prophix 12 Review

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

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 the import of data from our main system required an investment in time and resources on initial implementation. This is not a product you can have your IT team install and set-up! Things are running smoothly now that IT does understand how the staging of data occurs. Flat file uploads from consolidated entities is quick and simple.


Score 8 out of 10
Vetted Review
Verified User
Prophix worked very well with our old accounting system. Data integrated with ease. Now that we changed accounting systems and have Workday, we have found it very difficult and manual to integrate data between the two systems. It takes a lot more time now than ever before. I have to do uploads instead of just having an easy integration with a click of a button. This has definitely added a lot of admin work I was not anticipating.
Score 9 out of 10
Vetted Review
Verified User
Importing data has come very easy, and has greatly reduced the concern for missing data. Our company imports data via Excel for annual budgets, and imports data directly on a daily bases from Great Plains. Our processes have been created and need very little updating. The process that has been created for bringing actuals over from Great Plains is set up to run automatically daily as well as on-demand.
October 02, 2020

We love Prophix!

Score 9 out of 10
Vetted Review
Verified User
Prophix set up Vista to automatically import the data we needed. We can even set this up on a schedule to update nightly or as often as we want as well as manually. Since Vista is SQL backed, it was pretty easy to find the tables and data we needed and pointed Prophix in the right direction which made integration much smoother.
October 02, 2020

Love Prophix

Score 9 out of 10
Vetted Review
Verified User
This is not something I use primarily with Prophix as I’m just a user and not an admin. But its functionality with Excel is very good and we use it daily.
September 29, 2020

How Prophix Has Helped Us

Score 10 out of 10
Vetted Review
Verified User
The Prophix team did a nice job during the implementation process helping us set up data connections to pull the necessary data from Sage. They are also available when needed to answer our questions about setting up additional data connections or answering questions about flat file importing into Prophix.
Score 10 out of 10
Vetted Review
Verified User
Importing data from systems that are not directly integrated is very easy. The user is able to select the data fields they wish to import and then align them to data fields in Prophix. We do this for payroll data as the cost for direct integration was too high. We have not integrated with any systems other than our ERP. Data is not imported from the ERP; it is only a viewpoint.
September 10, 2020

Prophix Fan

Score 10 out of 10
Vetted Review
Verified User
Prophix consultant set-up the import process from GP during implementation as well as the nightly process to import and update tables. We recently updated our GP version, and Prophix was available and helped ensure things were set-up correctly and we were able to continue business as usual.
Since we do our payroll in house, I run the payroll reports and upload as a flat file...easy and accurate.
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