Need to Consolidate, Prophix is here to help
August 18, 2017

Need to Consolidate, Prophix is here to help

Anonymous | TrustRadius Reviewer
Score 8 out of 10
Vetted Review
Verified User

Overall Satisfaction with Prophix

Prophix is used as a tool to create ad-hoc reports and consolidate financial reports for 16 companies. It is used across the organization. The company has grown over the past year and an issue we experienced was looking at the organization as a whole. By using Prophix, we are able to send a P&L off- line data entry Excel file via email. Sister companies that are not using the same accounting software as the majority are able to input their information then the file is easily uploaded into Prophix for review. This was a major breakthrough for us.
  • Consolidating Financial Statements
  • Ad-Hoc Reporting
  • Budgeting & Forecasting
  • Template Studio reports Crash (I am not sure if the report is pulling too much information but the process should be faster)
  • Setting up Print Parameters should be easier (similar to Excel)
  • Changing Row/Column Member should not alter table formatting
  • Consolidating companies financials
Not sure if I dealt with this
Either way
I haven't used any other software similar to Prophix.
Excel formulas are less compatible.

Prophix Feature Ratings

Long-term financial planning
7
Financial budgeting
9
Forecasting
7
Scenario modeling
7
Management reporting
9
Financial data consolidation
10
Journal entries and reports
9
Intercompany Eliminations
10
Local and consolidated reporting
10
Detailed Audit Trails
10
Financial Statement Reporting
10
Management Reporting
10
Excel-based Reporting
9
Automated board and financial reporting
10
KPIs
9
Cost and profitability analysis
9
Key Performance Indicator setting
9
Benchmarking with external data
Not Rated
Not Rated
Flat file integration
Not Rated
Excel data integration
Not Rated
Direct links to 3rd-party data sources
Not Rated

Prophix Support

It definitely serves its purpose for the company by meeting consolidation and reporting needs. The slow speed to generate the report is unbearable at times when there are deadlines to meet.