Phophix makes budgeting easies for all.
August 14, 2017
Phophix makes budgeting easies for all.
Score 10 out of 10
Vetted Review
Verified User
Overall Satisfaction with Prophix
We used Prophix from the beginning with our budgeting for 2 casinos and 18 other business. This was our third year with this product. It is used across all our business for budgeting. We are using the ad-hoc analysis feature for designing reports and one-time analysis. Our GL is loaded on a nightly basis. This upcoming year [we are] planning on training other people outside our department on the ad-hoc analysis to make it easier for them to get information quickly and independently. We are updating the product to be web based for our end users.
- Make it easier to make quick analysis with information from our GL package which is load daily.
- Having 4 years of history within the program makes comparison easier and much quicker.
- Changing the budget over a 4 month budgeting process is far better than before. Many different versions.
- The biggest positive is the flexibility to make changes.
- Running updates to move information into your overall financial statements. Take time and end user complain about it.
- Seeing the whole budget at one time for our end users without running process in the background. Example: moving information from personnel cube to our financial cube or from our revenues cubes having over 30 of this to financial budget statements
- Printing of the budgets exporting to Excel or a PDF for better results instead within Prophix.
- Designing a way to have comment and assumptions or the budgets in a easy to use and printable form. Currently done in Word.
- Making template studio even more like Excel Designing takes more time and not as flexible.
- Increasing productivity for analysts. More information and analysis much quicker then in the past.
- ROI - allows analysts to spend more time on analysis less time on just producing reports.
- Using it for forecasting and score cards KPIs is still being developed and requires a lot of labor investment internally and using external consults for their development.
- Cost of set up times - flexibility to learn better ways to get the same end results.
- We have set up capital planning beyond 1 year and expanded out to ten years to open it up to the end user to make changes on future capital project all year.
Currently we have information from our GL imported every night. In the future for "Big Data" guest service feedback, hotel stay information customer base information and other internal source information maybe integrated into this for score cards and other reporting to grow the business. We see grow in being more pro active in all our business from hotels to printing plant to laundry to fast food to resorts and gas station business which are all non-casino related.
Currently we keep our own servers and don't put information into the cloud. This way we have control of information and security for the information. We have a growing IT department this may change in the future but not now. Our business is privately owned by the Indian band and information is no publically reported.
Ggreat Plains Forecaster - We look at but didn't choose. We used Cognos for 10 years for our budgeting and before that just Excel. Prophix has more flexibility than we were looking for and ability to far more than just budgeting. Like printing financial statement, Ad Hoc for quick analysis of issues more timely. Better and easier for our end users. Along with better capital planning ability.