Prophix - the good and the other
Kevin Warnick | TrustRadius Reviewer
Updated January 29, 2019

Prophix - the good and the other

Score 8 out of 10
Vetted Review
Verified User
Review Source

Overall Satisfaction with Prophix

We use Prophix for budgeting and reporting budget to actual numbers, as well as some forecasting. It is used mainly by the business office, but dashboards have been created for executives and marketing. It facilitates a more granular approach to budgeting, as well as multiple perspectives on comparative analysis. It also facilitates presenting financials in multiple formats, as required by different reporting entities or foundations.
  • Provides a plethora of options for analyzing data, either numerically or graphically.
  • Allows the user to get as granular as you like in creating budgets, and in creating mathematical relationships between related gl accounts.
  • Can be applied & used across a wide range of departments. Useful for any type of data analysis whether numerical or other.
  • It would be nice if it had better integration with Quickbooks. As it currently stands, you have to use a third party program to "translate" the database from QB to SQL for Prophix to import the data. I spend more time than I like validating data, but this has more to do with the limitations and shortcomings of QB than Prophix.
  • The process of updating the software is rather cumbersome and involved.
  • Still evaluating the ROI. It has minimized budget errors due to erroneous formulas which sometimes occur in spreadsheets
  • Enabled the budget creation to be more effectively distributed among department heads, which has created more accountability.
In most cases the data import process is great. Quickbooks uses a database structure that doesn't seem to play well with Prophix, so a third party software package is needed to "translate". This creates added complexity, which in turn creates additional failure points. Once it is setup, in generally runs well.
This flexibility was one of the selling points for Prophix. The ability to host and manage the program on site was essential for us. But, understandably, other organizations might prefer the option of cloud hosting. We prefer that most of our applications be hosted onsite, but realize the trend moving to the cloud.
Generally support is very responsive. I would have liked more of a "handoff" between the sales & implementation team and support. Prophix has modified there support model recently, providing a point of contact that can put you in touch with the appropriate person or department for problem resolution. There are also online resources such as FAQ's, Customer Forum's, and webinars.
There were a few other solutions, in addition to Domo, that we evaluated. Can't think of them offhand. Our main focus was in improving our budgeting process, and Prophix seemed to be the best fit for that. Other solutions had more elegant graphic reporting features, but that was a secondary concern for us.
If your budgeting process is mired in pages and pages of spreadsheets, or if you need to present the budget in multiple formats, Prophix would be a good fit. It is helpful if your accounting software uses a typical database structure such as (or similar to) SQL or MySQL that can be directly tied into Prophix.

Prophix Feature Ratings

Long-term financial planning
9
Financial budgeting
10
Forecasting
10
Scenario modeling
9
Management reporting
9
Financial data consolidation
Not Rated
Multi-currency management
Not Rated
Intercompany Eliminations
Not Rated
Minority Ownership
Not Rated
Local and consolidated reporting
Not Rated
Detailed Audit Trails
Not Rated
Financial Statement Reporting
9
Management Reporting
9
Excel-based Reporting
10
Automated board and financial reporting
9
Personalized dashboards
7
Color-coded scorecards
8
KPIs
7
Cost and profitability analysis
Not Rated
Key Performance Indicator setting
8
Benchmarking with external data
Not Rated
Flat file integration
10
Excel data integration
10
Direct links to 3rd-party data sources
8

Using Prophix

I haven't used the workflow component very extensively yet, so I haven't tried the commentary function for workflow. The line item detail function we use a fair amount. It is very helpful when additional granularity is desired for a single gl line of the budget. Cell commentary functions much like it does in excel, or any other spreadsheet program.
Automated report distribution has been very helpful for weekly reporting, or for compiling financials for board meetings. Once the templates are created and assembled into virtual binders, the process runs automatically as scheduled. I currently use the workflow feature for end of period closes, and will be implementing it for our upcoming budget cycle.
7 - The finance department is the primary user for prophix for both budget, reporting and forecasting, but the reporting end is utilized by users in marketing and on the executive team. Our IT and production departments also use it for budgeting purposes. We have an partnering educational organization that also has it installed for budgeting & reporting purposes.
2 - The main skill required for supporting Prophix is knowledge of how to use a phone. There are some minor administrative tasks that can be performed by anyone with a rudimentary level of understaning of relational databases. Occasionally we utilize our IT department to resolve some SQL issues, but those could also be handled by Prophix support.

Integrating Prophix

Spreadsheet or SQL database integration is fairly simple. Integrating with Quickbooks is a little more of a rocket launch--more to do with how QB is structured though.
  • Quickbooks
  • Qqube
Prophix doesn't communicate directly with Quickbooks Enterprise's proprietary database structure. Qqube is a partner vendor that has a product that converts the QB database into an SQL database that then connects with Prophix. The initial integration was performed by Prophix's implementation team.
  • Audience View ticketing/patron sofware
  • other onsite databases
Prophix supports integrations with about any database that is based on SQL, in addition to imports via spreadsheet.
  • File import/export
None that I am aware of.
Work with implementation team at the outset to create most of the integrations that you think you might want.

Using Prophix

The newer web interface seems to be simpler and more user friendly than the desktop client. I've in the process of converting from the desktop version to the web version, so I'm a still getting used to the newer interface.
ProsCons
Like to use
Relatively simple
Easy to use
Technical support not required
Well integrated
Consistent
Quick to learn
Convenient
Feel confident using
Lots to learn
  • Creating ad hoc views of data
  • workflow management
  • Creating multiple versions of budgets
  • Updating the self-hosted version
  • Editing KPI badge views
  • Importing data from QB

Prophix Reliability

We are a medium sized company, but the structure of Prophix would seemingly adapt to whatever sized organization you have. It also can be applied in any area of an enterprise that needs performance management, whether it involves financial data or not. The potential for application within the enterprise is really only limited by you imagination.

Relationship with Prophix Software

There sales staff was very forthcoming about product options. They also were helpful in putting me in touch with current users of a similar size & scope. Those conversations were extremely useful. Our sales rep was knowledgeable, and able to put us in touch with other resources when he didn't have the answers to our questions.
The transition from sales to implementation was mostly seamless.
Payment terms related to cost of software, implementation costs, and annual maintenance. We were able to negotiate adjustments to the initial software and implementation costs.
My biggest suggestion is to invest in the upfront training. We tried to save a few bucks by eliminating their recommended training hours, and I feel like it ended up taking us much longer to get up and rolling than it otherwise would have. Having a better conceptual understanding of how the product worked would have sped up the ROI.