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Prophix- Budgeting Easy Button
Updated January 29, 2019

Prophix- Budgeting Easy Button

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

Overall Satisfaction with Prophix

As a company Prophix has been well received for budgeting and monthly reports. Our users use the drill across feature when reviewing their monthly reports and this allows them to answer many of their questions themselves. We currently are implementing a long term financial forecast in Prophix that will allow for several what if analyses. We use detailed planning manger for loans and interest. We also have other cubes for specific areas that are integrated with our main finance cube.
  • Prophix allows managers to review in detail their department expenses.
  • Managers can write comments and line item details during budgeting that allows for detailed descriptions.
  • Detailed Planning Manager is awesome.
  • Prophix customer service is some of the best I have experienced.
  • Slow performance with complicated formulas and lots of data.
  • Sometimes does not save to cube but does not let the user know and why.
  • Difficult sometimes to debug templates and processes
  • Wish you could set up default page members for templates.
  • Would like to see ability to use template calculation process for templates with annual time periods.
  • Streamlined budget and shortened time frame
  • Allows users to find there answers without asking finance
  • Allows multiple users in the systems
Data integration is great. We have a process that brings in general ledger data every night. It is also set up to send an email if there is an error. Wish there was a way that if a new account is added to general ledger that it was automatically added to Prophix. We have also used the excel import feature which is great especially when setting up new cubes.
As a company we utilize the flexibility.. Different types of users are on different platforms at our company. All users except administrators are on the cloud. Administrators can use Prophix via the cloud or desk top. Some features are not available on the cloud that we like from the desk top.
Our experience with the help desk and Prophix consultants has been wonderful. Also there annual user group conference provides an opportunity to meet and work with multiple consultants. Sometimes it is frustrating to determine what is a help desk question and what needs to go through consulting services. Prophix has rolled out an enhanced annual maintenance support which we have not signed up for.
We reviewed several budgeting and forecasting software packages and Prophix was the standout. What really sets Prophix apart from everyone else is customer support. Many other budgeting and forecasting packages seemed to us to be Excel with add ins. Other software packages did not have the flexibility of platforms, ease of export, and integration abilities.
Prophix is well suiting for budgeting and reporting. It takes a lot of work to set up but once it is-- it runs seamlessly. Wish it was easier to roll over budget /forecast data and that consultants had that same answers. On more than one occasion have received conflicting information from 3rd party consultants and different consultants within Prophix.

Prophix Feature Ratings

8.6
Long-term financial planning
8
Financial budgeting
10
Forecasting
8
Scenario modeling
7
Management reporting
10
5.0
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
5
10.0
Financial Statement Reporting
Not Rated
Management Reporting
10
Excel-based Reporting
Not Rated
Automated board and financial reporting
Not Rated
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
8.7
Flat file integration
8
Excel data integration
10
Direct links to 3rd-party data sources
8
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

Using Prophix

Through out the budgeting process our managers make frequent use of the line item details. This allows the approvers and observers the ability to review the detail making up the budgeted amount. We use workflow for monthly operations and maintenance reports and through the budget process. We have also created a workflow for annual model maintenance.
We have implemented several workflows that distribute various reports.
35 - Operations, resource adequacy and planning, finance, human resources, it, communications, leadership team,
4 - We have four administrators from two different departments (accounting and resource adequacy and planning). We also utilize our it staff and help desk for updates. Our administrators have strong problem solving skills and data base experience. None of us have SQL knowledge.

Integrating Prophix

It general will take a Prophix consulting engagement to get a seamless integration.
  • Great Plains
We use Great Plains for our main accounting software. We had a SQL integration built that brings in our general ledger every day. We have the ability to change the timing and date range.
  • File import/export
  • Single Signon
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