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.
Efficient Report and Planning Tool
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
Prophix - Rich Features & Functionalities.
How Prophix Differs From Its Competitors
Annual Budget Planning
We have not been using Excel for budgeting but just for a supporting tool.
Annual Budget Planning
Data Integration
Deployment
Lessons for Success
Reporting Capabilities
Automation Capabilities
Annual Budget Planning
Data Integration
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 …
Deployment
Reporting Capabilities
Automation Capabilities
Annual Budget Planning
Lessons for Success
Annual Budget Planning
Lessons for Success
Annual Budget Planning
Annual Budget Planning
Deployment
Reporting Capabilities
Automation Capabilities
Data Integration
Deployment
Lessons for Success
Innovative Uses
Journey Experience
Reporting Capabilities
Automation Capabilities
Data Integration
Deployment
Annual Budget Planning
Data Integration
Deployment
Lessons for Success
Journey Experience
Reporting Capabilities
Automation Capabilities
Annual Budget Planning
Data is housed efficiently and it is easy to drill down and do analysis.
Interface is easy to navigate. However, if there are users …
Annual Budget Planning
Data Integration
Reporting Capabilities
Line items details gives them an opportunity to work though details and eliminate or …
Data Integration
Lessons for Success
Innovative Uses
Journey Experience
Annual Budget Planning
Lessons for Success
Innovative Uses
Journey Experience
Reporting Capabilities
Automation Capabilities
Annual Budget Planning
Data Integration
Deployment
Lessons for Success
Innovative Uses
Journey Experience
Annual Budget Planning
Data Integration
Deployment
Lessons for Success
Innovative Uses
Journey Experience
Annual Budget Planning
Lessons for Success
Annual Budget Planning
Lessons for Success
Innovative Uses
Annual Budget Planning
Lessons for Success
Innovative Uses
Data Integration
Deployment
Reporting Capabilities
Annual Budget Planning
Lessons for Success
Data Integration
Since …
Deployment
Data Integration
Deployment
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)9.393%
- 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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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.
- 9.3Financial 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.
- 7.4Benchmarking 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
(287)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
(76-100 of 208)Prophix Review - Accurate and Efficient Budgeting
- Prophix helps tremendously with the budgeting process. It allows scalability when we add new programs. The flexibility of Prophix allows for an accurate and efficient budgeting process.
- Prophix does an excellent job at building data integrations, which helps feed the most recent data into Prophix with no manual processes.
- Prophix's customer support team is amazing and is always willing to help you build more functionality into the product as time goes on and additional needs are identified.
- I can't identify any areas where Prophix has room for improvement. The product works great!
Prophix For Budgeting. Results, and Operations
- Budgeting and forecasting; it's built with a workflow and input capabilities to make these 10X more efficient than through collecting spreadsheets.
- Reporting financial results; it's vastly improved our reporting capabilities, both in terms of looks and ease of use for the end-user, and the capability to distribute them on a much quicker basis.
- Their dashboard capabilities are very impressive; we use this on a regular basis as well, and I'm regularly tweaking the dashboard for different parts of the organization.
- Some Excel feature aren't available in their templates, or are a slightly different format.
- I'd love to see template reporting be able to focus in on specific cross-combinations.
- The dashboard graphs aren't as flexible as excel graphs.
Prophix Platform ... less taxing
- Prophix platform creates a more open and collaborative budget process
- Real time reports identify customer service issues quicker
- Real time reports are custom to the decision maker and his direct reports
- The web based platform is readily accessible
- Would like to see more Cloud 365 abilities
- Prophix online learning should be more available to all the users with subscription
- Prophix could have more interactive choices within the reporting platform ... a distributed dynamic "read only" type report for Decision Makers with multiple responsibilities ... a PDF type report with drop down choices that auto upload the read only report.
Prophix review
- Reporting output is excellent - what you see on the screen will print the way you see it or if you send it to excel, it will look in Excel like you view on the screen. This saves time from having to manipulate reports.
- It is easy to navigate and find what you are looking for. The learning curve was less than I have experienced with other software and the training was great so that I understand how the software works. This is helpful when trying to configure the software to your needs.
- Their process manager works well for moving and copying data from one cube to another. We changed our department numbers in our ERP and so I had to create the new departments in Prophix and move the data to these departments and delete the old one. It was a bit of a process to setup but running the process went well and accomplished the task.
- Prophix doesn't do well when it comes to balance sheet and cash flow budgeting. Their support staff doesn't seem to know much about them either, so you have I have had to try to figure a lot of it out myself.
- Drilling in to find details of a number you have in a report is difficult and time consuming. When you analyze it pulls up all the data in your report and then you have to find the number you want more detail on to explore more there. Rather than just pulling in data that pertains to the number you want to explore. However, they do have drill across and for some reason this didn't get setup in our install. This is supposed to help but I have not used it yet.
- Copying a budget is cumbersome and time consuming. In my previous software all I had to do was click copy, select a few options, and it would copy ALL the parts of my budget and create a new one. Prophix has so many pieces I have to update or copy each piece, so it is quite a process create a copy of a budget. I like to create a copy of a budget, make a few tweaks and I have a new budget fairly quickly.
Prophix - Does the job well
- Financial Reporting
- Version Control
- Ad Hoc Analysis
- Prophix for Excel Stability
- Data Import Functions
- User Interface
Prophix 12 Review
- Financial reporting and consolidations - flexible!
- Planning and Forecasting - detail planning for headcount, capex, fixed assets, etc. and department mgrs. can input data.
- Ad Hoc Analysis - ability to slice and dice data and drill down to transaction level.
- Prophix needs to have a better interface with Excel for downloading, uploading, and analysis of data. Moving to the cloud (SaaS) and using web client solves this problem.
- Report writing with smart client has a long learning curve, web client may be better but we are just getting started with web client.
- Due to its flexibility Prophix requires dedicated training and use of consultants for implementation.
- The number one reason that I love Prophix is the customer support. Each person that I have come in contact with has been pleasant and most helpful. They will not quit until the customer is completely satisfied.
- Cost analysis - the flexible design makes it easy to perform all sorts of analyses quickly.
- Managing personnel costs due to employee turnover.
- Calculate payroll taxes - Prophix database is a lot easier to manage than an Excel spreadsheet.
- Reporting options are limitless with Template Studio. Prophix frees us from standardized reports that may not be appropriate for our business. We are able to tailor reports to our specific needs.
- We love to be very accurate with our payroll costs and the personnel module that we built will not allow us to terminate employees mid-month.
Prophix use in a Real Estate Development Company
- Combining data into meaningful reports
- Scheduling of reports to auto-generate and send PDF's to the users.
- Consolidate financials
- Budgeting and Forecasting
- It can be a little difficult to learn and slightly confusing when creating reports.
- New product releases can sometimes use additional testing before being released.
Prophix Review
- Templates for easy reporting.
- Ease of use for ad hoc reporting.
- Forecasting is not always user friendly.
- Fixing issues is not always intuitive.
Prophix Review
- Personnel Cube allows you to well budget for employee related expenses - salaries, bonuses, etc.
- CapEx Cube helps to track capital purchases was well depreciation and amortization.
- Personnel Cube is also a good tool when there are a lot of new hires activities.
- When updating data, sometimes I forgot to put zero's in the account which no longer needed to have values. With "replacing existing" feature, I assume those accounts would automatically become 0, but they need to be assigned with 0's.
- It is hard to apply seasonality for sales trend, the formulas are not easy as Excel.
- Sometimes it is hard to identify the errors since the downloads are values and hard to trace back the formulas.
Great product, frustrating support
- With the Ad Hoc function, the ability to pull up any data, across dimensions without having to build a whole report allows for more efficient, on demand analysis.
- Being unable to zoom in and out to quickly change the view while working in Template Studio is frustrating.
- It is too easy to accidentally check/uncheck the "calculation definition varies by rule set" in model manager.
- It can be difficult and daunting to learn all the rules, limits, and functions of the program.
Prophix is a great budgeting tool!
- Line item Detail is one of my favorite functions. It is such a simple, easy thing but helps a lot with staying organized.
- Workflows are super easy to create and make the budget kickoff effortless.
- Processes - I love being able to create a process that will flip all data from one version to the next. This is so helpful for companies like mine that do multiple forecasts per year.
- Detailed Planning Manager could be a little more precise for our purposes. I wish it could easily calculate taxes based off of employee locations.
- Detailed Planning Manger - wish I could set people up with different merit increases easily.
- I wish Prophix and Workday spoke well to each other. We have Workday for accounting and it is a chore to get data from Prophix into Workday.
Prophix Review
- Detailed Job performance reports
- Instant access to important info
- Some features are missing in the Web client
User-friendly, multi-use software
- Customer Support.
- Implementation and updates.
- User friendly atmosphere
- Better exporting of large quantities of data.
Great for budgeting when multiple inputs are required
- Multiple users can enter information.
- Intuitive product.
- Esthetically pleasing.
- Could be faster for complex templates with complicated formulas.
- Updating time periods could be made to be easier.
- Graphs are okay, but could be nicer.
Prophix User for Budget Purposes
- Line item details per department and region.
- Sales detailed planning per SKU and item and calculations for Gross Sales and Cost.
- Detail planning per department and headcount and benefits.
- Expenses per department in very granular details
- GL updates from ERP systems (we need to add the new accounts manually).
- New customers if added in ERP system we need to add those in Prophix sales cube manually
We love Prophix!
- Drill down.
- Ease of use.
- Dynamic.
- Ability for users to integrate with their ERP.
- More screen real estate in design, data entry and report mode.
Long-time Prophix Admin and User
- Consolidating data across multiple ERPs.
- Budgeting & forecasting across multiple ERPs.
- Analyzing results.
- Improved dashboarding functionality.
Love Prophix
- Flexibility of data use
- Process manager allows us to streamline
- Report building
- Initial learning curve
Great Customer Service
- Customer service.
- Report consolidation.
- Flexibility.
- Model manager.
- Chart accessories are lacking.
- Time commitment high to implement.
- Sometimes buggy/slow connectivity.
How Prophix Has Helped Us
- It is our one source of truth.
- It allows users to monitor their expenses as the month progresses.
- It allows the management team to monitor sales plan progress throughout the month.
- Our experience with Prophix has been very good. Any problem that we have encountered they have helped us correct it.
Solid, time-saving software
- Instant updates of all reports
- Aggregation of data from multiple ERP systems
- Personnel planning
- Provide a list of the heavily used, but not so basic MDX formulas
- More robust charts/graphs would be helpful
- Complete integration of Excel functionality
Prophix Review
- User support
- Data manipulation
- User-friendly reporting tools
- Speed of data loads
- Data management
Prophix: An intuitive budgeting and forecasting tool for finance
- High degree of customization
- Intuitive data view building
- Options for cost allocation
- Customer service
- Report formatting is clunky and not as dynamic as it could be.
- Can be a bit buggy with process errors that do not answers.
- Fairly steep learning curve.
- Lack of centralized training resources.
Prophix "The Super CPM" tool
- Ease of Use
- Flexibility
- Easy to manage
- Online community
- Dashboards