Very ease to use CPM software
Updated July 08, 2015

Very ease to use CPM software

Brett Newsome | TrustRadius Reviewer
Score 8 out of 10
Vetted Review
Verified User

Modules Used

  • Performance Management
  • Consolidations

Overall Satisfaction with Prophix

Prophix is being used by my company for budgeting, financial reporting, general ledger analytics, and global consolidation. Currently Prophix is just being used in the finance/accounting department but there is a desire to move to upper management in the future. Prophix solved two main problems that we were concerned with or had issue with. The first was working with multiple currencies and how to consolidate them into on financial report. The second was a global consolidation of all the entities with elimination entries, as we were using FRX before and this was not suitable for our needs.
  • Global consolidation between multiple entities on a complete financial statement, with the capabilities to keep them separate if need be.
  • Report building.
  • Analyzing the financial statement and able to drill down into the entries that make that number.
  • Chart building in the template designer needs work.
  • The ease of which to be able to build more cubes if necessary.
  • Workflow manager is difficult to use when you are the only department using Prophix.
  • We have cut our closing process down from 7 days to a 4 days for global financials
  • Budgeting process use to take hours and many weeks to complete, now I can computer the AOP in a matter of days.
Prophix is well suited for the financial reporting and analysis work that needs to be done by most companies. The budgeting process although at first difficult to understand, has been a tremendous time saver for us.

Prophix Implementation

Very professional, took their time to understand the company and the business requirements
  • Vendor implemented
  • Implemented in-house