Overall Satisfaction with Prophix
Prophix is being used by our entire organization for P&L budgeting, personnel planning, monthly budget to actual analysis and financial statement reporting/consolidation. We are a small company but have some complexities due to our model of growth by acquisition. In addition, we have an unusually large number of cost centers and Prophix is a great tool for helping us manage our reporting hierarchy.
- Personnel planning and budgeting - enables more accurate personnel budgeting by using rates and rules to drive out detailed benefit costs.
- Managing hierarchies such as accounts, cost centers and companies easily and in one spot.
- Ad Hoc Reporting - slice and dice data by accounts, cost centers, companies, etc., with the easy to use ad hoc tool.
- Would like an easier way for a budget manager to budget to a new account.
- Would like a way to set up rounding factors when entering/loading budgets.
- Would like the building of report templates to be easier.
- Improved accuracy of budgeting & forecasting is a major positive result from implementing Prophix.
- Improved efficiency of finance/accounting personnel is another positive result from implementing Prophix.
- Prophix is very intuitive and most people in the organization can be trained in a reasonable time on its usage.
We are currently importing data from both Oracle and SelectLine ERP systems. Everything is working well!
We are using Prophix from a hosted in-house server currently.
Hyperion was cost prohibitive for a company our size, and was eliminated early in the process. We evaluated Budget Maestro and Adaptive Planning prior to purchasing Prophix, but decided on Prophix due to combination of lowest cost to implement/maintain, most intuitive application along with a rapid implementation timetable.
Prophix Feature Ratings
Using Prophix
We use cell commentary to record the logic behind certain budget assumptions
We have automated our global consolidation process allowing us to report global results on a monthly basis (used to be quarterly).
30 - Finance, operations and executive management
Integrating Prophix
- Select Line
Integration of the GL modules from Oracle Financials (US) and Select Line (non-US) was achieved. Non-US was more of a challenge due to communication globally is a bit more difficult.
- None at this time
- File import/export
- ETL tools
Map out integration plan in detail
Using Prophix
Pros | Cons |
---|---|
Like to use Relatively simple Easy to use Well integrated Consistent Quick to learn Convenient Familiar | Requires technical support |
- Reports
- Hierarchies
- Adhoc
- Adding new accounts to budget worksheets
Yes, but I don't use it
Prophix Reliability
Relationship with Prophix Software
We negotiated the hourly consultant rate with the vendor
Getting a consultant that totally understands the software and is an effective communicator is critical to the project success.
Prophix Support
Pros | Cons |
---|---|
Quick Resolution Good followup Knowledgeable team Problems get solved Kept well informed No escalation required Immediate help available Support understands my problem Support cares about my success Quick Initial Response | None |
No - I have not paid for premium support
Yes - We've encountered just a few bugs, but no showstoppers
Prophix Training
- Online training
- Self-taught
The product is easy to pickup on your own with a bit of training.
Upgrading Prophix
Evaluating Prophix and Competitors
- Price
- Product Features
- Product Usability
- Product Reputation
- Prior Experience with the Product
- Vendor Reputation
Would not change the evaluation process
Prophix Implementation
- Third-party professional services
Tomas Filipuzzi
Yes -
Phases were:
1) Cost Center Budgeting
2) Financial Reporting
3) Global Consolidations
4) Value Stream Reporting
Change management was a small part of the implementation and was well-handled - A little more frequent communication prior to implementation could be helpful
- User Adaptation
Configuring Prophix
Utilize a top notch third party consultant
No - we have not done any customization to the interface
Some - we have added small pieces of custom code