Affordable tool with growing user base. Easy to use.
Updated February 01, 2019

Affordable tool with growing user base. Easy to use.

David Tulchinsky | TrustRadius Reviewer
Score 9 out of 10
Vetted Review
Verified User

Software Version

11

Modules Used

  • Performance Management

Overall Satisfaction with Prophix

We use Prophix for managing our annual operating budget and projections.
  • Easy to use. Easy to set up views and templates. Runs reports for budget comments across departments.
  • Integrates with Microsoft Dynamics. Allows users to drill into G/L detail
  • Useful for analysis. Allows pivoting and cutting/slicing summaries and easily changing views to show leaf descendants of the members.
  • Slow. Opening a new view or entering a comment often has a several second delay. Should just be instant. Running a comment report takes almost a minute.
  • Limited licenses - have to juggle number of users.
  • Ad hoc view does not list your cost centers in a logical order and it is not as simple as a FRX frd file where the tree of cost centers is cleanly outlined and you can drill into levels of the tree without getting lost and having to go back to a long list. Ad hoc simply has a long list of cost centers that are not in order.
  • Saves time from doing a budget manually in a bunch of Excel spreadsheets which are prone to user error.
  • More self-service - department managers can go into Prophix to look up G/L detail, budget comments, etc.
Haven't used it in years.
Haven't used it in years
Good support from what I recall. They usually try to upsell you on something.
Depends on what the needs of your business are. Prophix is a great budgeting tool and it avoids the headaches of more expensive options (i.e. Cognos which is not easy to use and requires consultants to modify even simple things).

Prophix Feature Ratings

Long-term financial planning
10
Financial budgeting
10
Forecasting
10
Scenario modeling
10
Management reporting
Not Rated
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
Not Rated
Management Reporting
Not Rated
Excel-based Reporting
Not Rated
Automated board and financial reporting
Not Rated
XBRL support for regulatory filing
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
10
Excel data integration
Not Rated
Direct links to 3rd-party data sources
Not Rated