Prophix is the best corporate performance management tool for Crystal & Company
Updated December 07, 2017
Prophix is the best corporate performance management tool for Crystal & Company
Score 8 out of 10
Vetted Review
Verified User
Software Version
Prophix 11
Modules Used
- Performance Management
Overall Satisfaction with Prophix
We use Prophix as our primary financial reporting tool. This includes all aspects of the financial reporting and management; budgeting, forecasting and performance management. In addition, we rely on Prophix as a substitiution tool for general ledger journal entries to allocate revenues and expenses throughout our oragizational divisional and departmental structure.
Pros
- Prophix software is a unified solution for our financial reporting needs. It is relatively easy solution to implement, cost effective and requires little upkeep maintenance.
- Prophix has an excellent detailed planning management tool that allows us to easily account for our personnel budget and forecasting needs, fixed assets, and other balance sheet items.
- Prophix has a line item detail feature that enables us to analyze down to the lowest detail level for our ease of financial and account reporting.
- We are able to easily create multiple templates for financial reporting and answer the needs for our many individual business units.
- Excellent tool to manage the workflow for the budget process.
Cons
- Prophix has done an excellent job of continuous improvement of their product. They have addressed almost all of our concerns and issues over the 6+ years we have been on the product. Prophix can still improve performance when using large sets of data dimensions and multiple shared dimensions.
- Enhancement to system to manage the complete accounting close workflow process.
- We have gained incredible efficiences utilizing Prophix for all of our financial reporting, budgeting and forecasting processes.
- We are able to more quickly and accurately complete our month end financial reporting requirements, which allows us to spend more time analyizing the details and do a deeper dive into our key performance issues.
- Our whole organization is better served with quick and easy access to their individual profit center results.
We import data from other disparate systems using ODBC and excel imports.
Important to have flexibility, but we currently have on our own server in the cloud.
- Adaptive Insights, SAP Business Objects and IBM Cognos
Easier to implement, cost effective and user friendly.
Prophix Feature Ratings
Using Prophix
60 - They cross multi business functions within Crystal & Company; from operations to business units.
3 - Licensed administrators of the system and subject matter experts within the variuos financial models established within the program.
- Financial reporting
- Budgeting and forecasting
- Personnel management
- Integrating our personnel planning with budgeting and forecasting
- Creating entity financial package in lieu of general ledger coding
- Allocation of revenues and expenses across 400+ profit centers.
- multi year financial forecast modeling for balance sheet and income statements
- KPI modeling and dashboard reporting
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