Prophix 11 Review
Updated September 30, 2015
Prophix 11 Review
Score 9 out of 10
Vetted Review
Verified User
Software Version
Prophix 11
Modules Used
- Performance Management
Overall Satisfaction with Prophix
We use Prophix for our management reporting on a monthly basis. Prophix is also used for quarterly forecasting and the annual budget process. The tool is used across the company by business owners along with the Finance and Accounting organizations.
- Prophix does a great job in summarizing our financial data and preparing reports on a daily basis during our month end close process.
- The Detailed Planning Module has significantly reduced the amount of time we spend on payroll budgeting and forecasting. We now can do it a the individual level in record time.
- Prophix gives us one version of the truth. Everyone is looking at the same data and we no longer have any issues with people using different versions of the financial data.
- We have really not seen any significant areas of improvement for Prophix.
- They continue to maintain the product and are always issuing new versions of the system.
- They have a detailed road map for future enhancements.
- We have seen decreased cycle times in our budgeting and forecasting processes. Time spent on processes have decreased by over 50%
- We are able to generate and issue reports in a more timely manner, all reports are now scheduled and sent via email automatically to the business partners on a monthly basis.
- Analysts are now able analyze and drill into general ledger detail in real time during the month end close process, which has reduced the month end close process by two days.
We selected Prophix over Hyperion due to following:
1.) Price of implementation and ongoing costs - Prophix was significantly lower in initial setup and ongoing expenses
2.) Ease of use - Prophix can be maintained by the Finance Organization without significant support from IT
3.) Features and Functionality - We liked how Prophix was a stand-alone, all encompassing system
1.) Price of implementation and ongoing costs - Prophix was significantly lower in initial setup and ongoing expenses
2.) Ease of use - Prophix can be maintained by the Finance Organization without significant support from IT
3.) Features and Functionality - We liked how Prophix was a stand-alone, all encompassing system