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Prophix saves our company time and money
January 21, 2019

Prophix saves our company time and money

Michelle Ferris | TrustRadius Reviewer
Score 10 out of 10
Vetted Review
Verified User

Overall Satisfaction with Prophix

We use Prophix on the finance team for budgeting, personnel planning, analysis, and financial statements. Prophix addresses several problems: it provides flexibility with respect to budgeting and reporting in fact, it completely replaced Excel as our budgeting and reporting tool. The dynamic nature of the Prophix tool is unlimited. As a marketing organization, we frequently evaluate where our marketing efforts are most profitable. Prophix allows customized reporting by revenue stream, giving us the ability to understand exactly where our efforts are either successful or unsuccessful. In financial statement preparation (alone) each month, Prophix saves my team hours of needless Excel work. Multiple iterations of an annual budget are a breeze with Prophix.
  • Prophix makes monthly financial reporting easier and faster than other software I have used.
  • Prophix makes personnel planning faster and more accurate than using spreadsheets.
  • Prophix makes budgeting and forecasting easier and more accurate than using spreadsheets.
  • Everything has room for improvement. I would like to see better graphing, but Prophix is already working on product development in this area.
  • Streamlined financial reporting and analysis: Prophix saves us at least 4 full days of reporting every month.
  • Streamlined budget and planning: Prophix saves us about 8 days of work over the course of the budgeting cycle each year.
  • We have all of our financial data in one place.
It only takes a few seconds to pull data into Prophix and can be setup on a scheduler so it happens overnight. I can pull data from multiple programs.
It is very important because we have to store Prophix on premise for it to work with our ERP.
Prophix support is always timely. The support team is knowledgeable and escalates issues appropriately.
We did not compare other software because it had been used by a decision maker at a different company.
It is well suited for organizations that store data in multiple programs or data warehouses. The personnel planning functionality is very helpful if you have multiple items that roll up into compensation and need to calculate them by employee/department. When you have multiple departments contributing to the annual budget, Prophix makes it very easy for the end user to participate in the process.

Prophix Feature Ratings

10.0
Long-term financial planning
Not Rated
Financial budgeting
10
Forecasting
10
Scenario modeling
10
Management reporting
10
10.0
Financial data consolidation
Not Rated
Journal entries and reports
10
Multi-currency management
10
Intercompany Eliminations
Not Rated
Minority Ownership
Not Rated
Local and consolidated reporting
10
Detailed Audit Trails
Not Rated
10.0
Financial Statement Reporting
10
Management Reporting
10
Excel-based Reporting
10
Automated board and financial reporting
10
10.0
Personalized dashboards
10
Color-coded scorecards
Not Rated
KPIs
10
Cost and profitability analysis
10
Key Performance Indicator setting
Not Rated
Benchmarking with external data
Not Rated
10.0
Flat file integration
10
Excel data integration
10
Direct links to 3rd-party data sources
10
BI Standard Reporting ()
Not Rated
Ad-hoc Reporting ()
Not Rated
Report Output and Scheduling ()
Not Rated
Data Discovery and Visualization ()
Not Rated
Access Control and Security ()
Not Rated
Mobile Capabilities ()
Not Rated

Relationship with Prophix Software

The team was easy to work with and very knowledgeable.
They were flexible and easy to work with. I only suggest that you plan the project out in house so you have the time to commit to it.