Overall Satisfaction with Prophix
We used budgeting tool by Prophix. Our company assigned budgeting responsibilities to managers for their respective areas. It was very time consuming to consolidate multiple budgets into one final company plan, as well as maintain version control over the multiple Excel spreadsheets updated and submitted over the e-mail, so we made the decision to purchase Prophix.
- Allocation of budgeted amounts: enter 1 total number for certain expense, or sale, and Prophix will allocate it into departments, months, clients or any other dimension depending on company configuration. You also have a choice of how to allocate the number - straight line, proportionally based on some criteria, proportionally based on prior year. Very convenient.
- Good consolidating tool - system completely eliminated all the work necessary to put all the individual budgets together once managers submitted their budgets; there were no version control issues
- What-if planning and ability to generate multiple scenarios and save them on user level and re-submit the scenario that was deemed final. Our process involved many discussions between the budgeting manager and reviewing director and it was very convenient for managers to generate multiple versions of budget in preparation for discussions.
- System is not always user friendly - for example, our managers could not understand submit process. I was managing the process for the company from technical perspective and ended up just doing those technical steps on their behalf.
- Managerial responsibilities must be assigned very carefully. Person having access to multiple areas of budget can over-ride scenarios submitted to them by managers at lower steps.
- Navigation was not always most efficient. For example, copy-and-paste function shortcut was Ctrl+R for pasting to the right. It felt like we had to retrain ourselves from all the common computer skills just to use Prophix.
- more efficient budget process
I started with the company during the selection process and did not have much insight what other systems lacked compared Prophix. We reviewed BudgetMaestro and some other system.