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Prophix - An awesome solution for reporting and budgeting
July 23, 2014

Prophix - An awesome solution for reporting and budgeting

Janet Thomas | TrustRadius Reviewer
Score 10 out of 10
Vetted Review
Verified User

Software Version

Prophix11

Overall Satisfaction with Prophix

We began using a former Prophix product Enterprise, in 2007. We then implemented the SQL version of their product, Prophix 10 in 2010. We upgraded to Prophix 11 in April 2014 as well as previous minor updates as they were released. We utilize this product for Budgeting, Forecasting, Financial Reporting, Reporting of Sales detail information, and personnel planning. We import statistical information such as unit volume data related to production and sales. We have incorporated calculations with statistical and financial information and incorporated it in our reports.

Prophix is utilized by all areas of our company including key operational employees. We have 35 users who have varied levels of security access and who review their financial results consistently. We utilize a workflow process within Prophix for our budgeting and forecasting processes. This is an excellent software application that has worked very well for our company. Because of the flexibility of the product, you can create any report that you require. Set up properly, they will update with changing variables such and new reporting periods. I highly recommend Prophix.

  • Financial Reporting, Reports are easily accessed by users. We have drill down capability with the account balances so users can view transaction detail. We recently added the ability to view AP invoice images with this view so users can access these images from the transaction view. Users can also add and view comments added to balances.
  • Report binders or groups of reports can be set up and distributed with ease. This is useful when reports are distributed on a monthly basis such as monthly Financial Reports.
  • The workflow process allows a Financial Budget organizer to assign tasks to specific users and manage their participation in the budgeting process.
  • We have data set up in multiple cubes based on the structure of the data. We can create reports for a specific cube or pull data from multiple cubes into reports.
  • Alternate hierarchies can be set up for the organization dimension to provide enhanced flexibility for reporting.
  • Data is easily imported. We have processes set up and scheduled for automatic updating as well as less frequent imports from excel files.
  • Prophix does a very good job of utilizing customer suggestions for future upgrades and improvements.
  • Ease of information access and reporting has surpassed our expectations.
  • Organization and efficiency increases of processes and elimination of manual reporting has greatly improved.
These products did not provide comparable applications and functionality for the cost. Their cost either greatly exceeded Prophix and the functionality did not justify the cost difference or the functionality did not compare. For the most expensive option, the enormous IT involvement and implementation time was inconceivable.
We will continue to use Prophix and I am looking forward to implementing the balance of new functionality of the newest version.
The ability for Prophix to be solely managed in the Finance department was a key factor when selecting this product. Our IT department was only minimally required during the implementation which allowed Finance to set the pace. Additionally, the cost of this product as compared to competitors and compared to the quality of this application vs. the others, Prophix was a clear winner. We evaluated 3 other applications initially in 2007 and 4 others in 2010.

Using Prophix

35 - Employees from the following areas use Prophix --> Finance, Analysis, IT, Executive, Sales, and operations
1 - I manage all aspects of the product. I an the Controller in Finance. Ongoing management is minimal. New feature and report enhancement is a continuing activity that I provide.
  • Reporting with pre-generated reports as well as ad hoc reporting.
  • Process management with workflow.
  • Avalibility of data, financial as well as product and volume.