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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 104)
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Score 10 out of 10
Vetted Review
Verified User
Incentivized
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.
Score 9 out of 10
Vetted Review
Verified User
Incentivized
We have a few data integration pieces within Prophix. It is integrated with our accounting system to pull in actual amounts on a daily basis. We are also able to run the process to update the numbers real time. We also use data import with excel to update the Personnel DPM for budget purposes. Works great!
Joe Scheidecker | TrustRadius Reviewer
Score 9 out of 10
Vetted Review
Verified User
Incentivized
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.
February 28, 2022

Easy to Administer

Score 10 out of 10
Vetted Review
Verified User
Incentivized
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
Incentivized
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
Incentivized
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
Incentivized
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
Incentivized
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
Incentivized
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.
Score 6 out of 10
Vetted Review
Verified User
Incentivized
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
Incentivized

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
Incentivized
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
Incentivized
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
Incentivized
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
Incentivized
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.
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