Simplify your planning and reporting processes with Prophix
Michael Pasquinelli | TrustRadius Reviewer
July 25, 2014

Simplify your planning and reporting processes with Prophix

Score 9 out of 10
Vetted Review
Verified User
Review Source

Software Version

11.0

Modules Used

  • Performance Management

Overall Satisfaction with Prophix

We use Prophix to produce and track the annual plan for the entire company. All of the budget managers use the tool to enter estimates for the annual plan and we produce reports to compare the actuals vs. the plan. In addition, Prophix provides the capability to drill down to actual details when we perform monthly reviews with the budget managers.
  • Ability to view detailed transactions of actuals from different sources (i.e. employee expense transactions, vendor invoice transactions, AR write-offs, detailed journal entries, inventory transactions)
  • Ability to create what if scenarios for plan
  • Ability to create several different cubes (i.e. cube for Plan, Revenue, Collections, etc.)
  • Dashboard reporting against cubes
  • Better use of Excel functionality. Users mainly use the client to input data and review information. It would be nice to use an Excel plug in as well. Therefore the user has the option to use Excel or the client.
  • Greater daily visibility to key metrics (i.e. monthly revenue, returns, open sales orders, monthly budget variances)
  • Ability to utilize a 12 month rolling revenue forecast
  • Faster time to provide variances at month/quarter end
  • IBM Cognos,ClaritySoft,adaptive planning,centage budget maestro,vena solutions
Prophix stacks up well against the competition. We selected Prophix since they were able to provide a great presentation. Also, they managed the project well and they have strong consultants who helped implement the solution quickly. They also, continue to evolve by upgrading features based upon customer feedback. They have strong customer support and always try to help deliver a solution for any problems we report. I also like the fact they offer training for some features such as dashboard reporting. I received training from one of their consultants and I am now able to develop additional dashboard reports for my organization.
I believe we will continue services with Prophix because they always focus on improving the current system. They have great ideas and if you are fortunate enough to attend the user conferences, the workshops definitely help you to expand the use of Prophix. They have great ideas which can help improve the productivity within your organization.
For my organization, we were using our ERP system to create and maintain our annual plan. This was extemely time consuming since it required maintaining several spreadsheets and loading all the data from these sheets individually. Using Prophix simplified the process and allowed for users to work offline and later upload when they had a connection to the network. I would suggest to look at the functionalities around offline data entry, reporting, versions to maintain annual plans, cube creation/maintenance, dashboard reporting. I beleive Prophix does a good job to offer all of theses solutions, however, there is still a bit of work to maintain the system.