Prophix - Top notch assistance with budgeting and forecasting
Updated March 25, 2021

Prophix - Top notch assistance with budgeting and forecasting

Rebecca Evans | TrustRadius Reviewer
Score 10 out of 10
Vetted Review
Verified User
Review Source

Software Version

Prophix 11

Modules Used

  • G/L Reporter
  • Personnel

Overall Satisfaction with Prophix

We are using Prophix for budgeting and forecasting. We have rolled out the tool to all department managers. They love the line item detail feature. They are able to list each vendor/expense individually to ensure nothing is missed.

In addition, we use the Detailed Planning Manager to track payroll expenses by person and by department. It assists us in tracking employee turnover costs and to manage our expenses throughout the year. It allows us to calculate payroll tax from a variety of different countries.

The Ad Hoc function gives us the flexibility to "slice and dice" the data in numerous ways to provide quicker analysis.
  • The number one reason that I love Prophix is the customer support. Each person that I have come in contact with has been pleasant and most helpful. They will not quit until the customer is completely satisfied.
  • Cost analysis - the flexible design makes it easy to perform all sorts of analyses quickly.
  • Managing personnel costs due to employee turnover.
  • Calculate payroll taxes - Prophix database is a lot easier to manage than an Excel spreadsheet.
  • Reporting options are limitless with Template Studio. Prophix frees us from standardized reports that may not be appropriate for our business. We are able to tailor reports to our specific needs.
  • We love to be very accurate with our payroll costs and the personnel module that we built will not allow us to terminate employees mid-month.
  • Prophix has allowed our department to reduce the amount of time spent on budget planning from three months to two months.
  • We can forecast by line item in minutes versus hours in Excel - and no broken links or circular references.
Prophix has freed us from multiple workbooks, broken links, and circular references. The line item detail feature gives us all the detail we need.

Do you think Prophix delivers good value for the price?

Yes

Are you happy with Prophix's feature set?

Yes

Did Prophix live up to sales and marketing promises?

Yes

Did implementation of Prophix go as expected?

Yes

Would you buy Prophix again?

Yes

We have also used Budget Maestro for budgeting and forecasting and we prefer Prophix's flexibility. In addition, the customer service at Prophix blows the competition out of the water.
Prophix is well suited for a company of our size. It is a great tool for forecasting and budgeting as it allows for flexibility. In addition, the cost of the product is not prohibitive and it is easy to learn and use.

Prophix Feature Ratings

Long-term financial planning
9
Financial budgeting
10
Forecasting
10
Scenario modeling
8
Management reporting
10
Financial data consolidation
Not Rated
Journal entries and reports
Not Rated
Multi-currency management
Not Rated
Intercompany Eliminations
Not Rated
Minority Ownership
Not Rated
Local and consolidated reporting
Not Rated
Detailed Audit Trails
Not Rated
Financial Statement Reporting
10
Management Reporting
9
Excel-based Reporting
10
Automated board and financial reporting
Not Rated
Personalized dashboards
Not Rated
Color-coded scorecards
Not Rated
KPIs
Not Rated
Cost and profitability analysis
Not Rated
Key Performance Indicator setting
Not Rated
Benchmarking with external data
Not Rated
Flat file integration
Not Rated
Excel data integration
10
Direct links to 3rd-party data sources
9
Drill-down analysis
8
Formatting capabilities
10
Report sharing and collaboration
10
Publish to PDF
Not Rated
Report Versioning
Not Rated
Report Delivery Scheduling
Not Rated
Predictive Analytics
Not Rated
Multi-User Support (named login)
10
Role-Based Security Model
10
Multiple Access Permission Levels (Create, Read, Delete)
10
Responsive Design for Web Access
Not Rated

Growing with Prophix

Our budgeting process time was significantly reduced and mathematical errors were a thing of the past.

Integrating Prophix

  • Sage 100
Sage 100 is our general ledger. We feed our actuals from Sage to Prophix in order to use the more flexible reporting that Prophix offers.
  • File import/export
  • Single Signon

Using Prophix

ProsCons
Like to use
Relatively simple
Easy to use
Technical support not required
Well integrated
Consistent
Quick to learn
Convenient
Feel confident using
None
Very user friendly.

Relationship with Prophix Software

Prophix Implementation

Planning, planning, planning. Prophix will send you some Excel spreadsheets ahead of implementation. If those spreadsheets are complete, implementation will be smooth. Also, set aside some time during implementation to work with the Prophix staff and ask lots of questions. The knowledge they share is invaluable.
Change management was a big part of the implementation and was well-handled
  • Our implementation went smoothly. We finished ahead of schedule.