Overall Satisfaction with Prophix
We use Prophix for Capex planning and project management including variance analysis budget vs actual, internal reporting (formal quarterly reports, ad hoc management reports, with variance analysis year-on-year), consolidated external reporting (several entities across multiple countries and currencies), other external reporting. Prophix replaces time-consuming Excel processes to compile complex reports. Workflows streamline monthly processes and support multi-level approvals.
- Flexible--reports on almost anything in any format
- Powerful--analyzes huge volumes of data, deals with lots of complexity
- Great customer support and community/forum of users
- Big investment in time and training
- Length of time to fully understand, implement, and realize benefits
- Software-specific jargon
- Streamline external audit (FS consolidation)
- Streamline other regulatory compliance work
- Streamline internal periodic and ad hoc reporting
- Enable more reporting
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 and approval as required.
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.
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 we can make the switch.
Do you think Prophix delivers good value for the price?
Yes
Are you happy with Prophix's feature set?
Yes
Did Prophix live up to sales and marketing promises?
Yes
Did implementation of Prophix go as expected?
I wasn't involved with the implementation phase
Would you buy Prophix again?
Yes
I was not involved in the selection of Prophix so am not able to compare against other reporting tools. Prophix is still a relatively uncommon option in Europe, most larger organizations will use an SAP or Oracle or Hyperion offering.
Coupa is now being rolled out for the P2P function across our group of companies.
Coupa is now being rolled out for the P2P function across our group of companies.
Prophix Feature Ratings
Using Prophix
Pros | Cons |
---|---|
Like to use Consistent Convenient Feel confident using | Requires technical support Lots to learn |
- budgeting
- internal reporting
- consolidation
- initial setup
Yes, but I don't use it
Prophix Support
Pros | Cons |
---|---|
Knowledgeable team Kept well informed Support understands my problem Support cares about my success Quick Initial Response | Problems left unsolved |
we did not purchase premium support in this instance as it did not seem value for money for our group of companies.
I haven't been the main point of contact so I have limited scope to answer this question. However I will mention the "Red Carpet" - an awesome dedicated forum to connect with other users to share knowledge and experience, tips, and have some fun on the side! A fantastic offering.