Prophix Flexibility
December 02, 2015
Prophix Flexibility
Score 10 out of 10
Vetted Review
Verified User
Overall Satisfaction with Prophix
We use Prophix for budgeting, managerial reporting, flex budgeting, value stream analysis and what-if analysis. We own Prophix in the Finance Department and manage 21 legal entities in 5 sales regions. Current projects include activity based costing at a model level and budgeting of entities in their native chart of accounts in their native currency. The more we use Prophix the more projects we find to use it on. And I think that is its greatest benefit: flexibility.
Pros
- Prophix is especially good at collecting data from multiple sources and consolidating into one cube. We use Oracle ERP, Hyperion, AS400, Sage and a few others, and we can pull in the data very easily. There is the ability pull directly from the system, upload via text or Excel and even direct input if needed.
- Budgeting and Forecasting is easy and dynamic in Prophix. Again with many ways to collect the data. We use the Offline feature a lot, where we create templates, Cost Center owners update them and then we drop it into a folder to be swept into Prophix and updated. This also leaves a good trail to follow. Quite a bit of this process can be automated in WorkFlow processes as well.
- Flexibility! We can create cubes for pretty much any business purpose. The system is limited by your imagination in what you want to build.
- Helpful and knowledgeable staff and help desk personnel. I can not express how thankful I am for the support everyone gives me at Prophix. From A/R to the help desk to the solution architects. Everyone there believes in the product and is willing to help you make the best system they can.
Cons
- My main complaint is attached to one of Prophix's most useful tools; Prophix for Excel. I could go on for quite a while discussing ways the Prophix Add-In for Excel is helpful. However, the drawback is that there can only be one workbook open at a time with the Prophix Connection. If I then open, say a new workbook to create a text file for uploading, the connection is lost. This is not the case with other Add-Ins of this nature like GLWand and SmartView. Open them once and you can open as many Excel workbooks as you like and still have the connection.
- On our last budget we were able to load our numbers into the corporate system from Prophix in less than 10 minutes. This used to take several people 2 to 4 hours to do each iteration. Now it is a simple tool that downloads from Prophix and uploads to Hyperion. This takes a lot of stress out of the budgeting process.
- We use Prophix to give Regional P&Ls that are unavailable in our other systems. This increases visibility and accountability.
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