Prophix - a review from project management
April 15, 2021

Prophix - a review from project management

Gavin Scott-Miller | TrustRadius Reviewer
Score 8 out of 10
Vetted Review
Verified User

Overall Satisfaction with Prophix

Our team utilizes the Prophix software for monthly forecasting for our financials. It acts like a large check and balance for communications between operations and accounting.

We have found that without a proper forecast, it’s hard to maintain budgets or accuracy on expected revenue and profit on each of our projects. That is where Prophix steps in, as we are able to sync it with our other databases and software.
  • Ease of use and understanding.
  • Submittals process for review.
  • Flexibility for organizations.
  • Older versions had issues with syncing and slow down during loading times.
  • UI is fairly basic.
  • Sometimes items UI items can be left up to interpretation, which can muddy data we get back.
  • Increased communications accuracy.
  • Forecasting importance is to the forefront.
  • Expected costs tracking.
We no longer use Microsoft Excel for any of our financials are forecasting. All of this is done through Prophix which helps increase track ability, multiple users, and forecasting. It’s the middle approval process between management, and the day to day operations team. The transition was fast and easy and most users are able to understand its purpose.

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?

I wasn't involved with the selection/purchase process

Did implementation of Prophix go as expected?

I wasn't involved with the implementation phase

Would you buy Prophix again?

Yes

QuickBooks is an all in one platform for all financials for small businesses. It acted completely fine for us while we were a small business. But it doesn’t have nearly the features for tracking or multiuser support or submittals. Ultimately Prophix is more future rich when it comes to the needs of a larger enterprise company.
Prophix is designed for its flexibility and communication. It’s acting for us like a backlog tracker or a revenue and profit tracker. It helps at our end of the month reports and meetings so everyone can be on the same page with that needs to be done for the following month.

It would be less appropriate for simply using like a spreadsheet without a bunch of predetermined formulas and data being pulled from our database.

Prophix Feature Ratings

Long-term financial planning
8
Financial budgeting
10
Forecasting
8
Scenario modeling
4
Management reporting
5
Financial data consolidation
7
Journal entries and reports
6
Multi-currency management
4
Intercompany Eliminations
6
Minority Ownership
5
Local and consolidated reporting
7
Detailed Audit Trails
7
Financial Statement Reporting
6
Management Reporting
7
Excel-based Reporting
6
Automated board and financial reporting
7
Personalized dashboards
9
Color-coded scorecards
5
KPIs
7
Cost and profitability analysis
6
Key Performance Indicator setting
8
Benchmarking with external data
9
Flat file integration
6
Excel data integration
5
Direct links to 3rd-party data sources
5
Drill-down analysis
5
Formatting capabilities
5
Report sharing and collaboration
7
Publish to PDF
7
Report Versioning
6
Report Delivery Scheduling
8
Predictive Analytics
9
Multi-User Support (named login)
8
Role-Based Security Model
8
Multiple Access Permission Levels (Create, Read, Delete)
7
Responsive Design for Web Access
10