Top Tier Tool for Budgeting and Forecasting
July 25, 2014

Top Tier Tool for Budgeting and Forecasting

Larry Mick | TrustRadius Reviewer
Score 10 out of 10
Vetted Review
Verified User

Software Version


Modules Used

  • Performance Management
  • Consolidations

Overall Satisfaction with Prophix

We used Prophix as a budgeting and reporting tool across many service lines and multiple offices. It allowed each department head to easily prepare their annual budget and review how they were doing on a monthly basis at meeting budget. Particularly useful was the ability to drill down into actual transactions to see if they were miscoded and to understand why variances we present. This made a three month budgeting process in which users took no ownership into a less than two week process that users could easily review and keep up to date on their progress. We love the dashboards and the ability to roll up departments by location or by responsible person. This is easily the most useful tool the accounting firm ever purchased.
  • Budgeting and Reporting
  • Drill down to the GL
  • Dashboards
  • Rollup of departments to a responsible person or location
  • Multiple versions of budgets easily maintained
  • Expert implementation is needed to get the full value
  • initially more expensive that competitors
  • Brings more involvement from department heads into the process
  • No worries of spreadsheet formula errors or version errors that occur in spreadsheets.

Frx Forecaster

Budget Maestro

It is the best solution I have found for the budget/forecasting process.

Well suited for multiple locations, department and users.

I'm not as familiar with the stand alone version of Prophix.