Flexible solution to financial reporting, budgeting, and corporate performance management.
August 22, 2017

Flexible solution to financial reporting, budgeting, and corporate performance management.

Paul Vickers | TrustRadius Reviewer
Score 10 out of 10
Vetted Review
Verified User

Overall Satisfaction with Prophix

Quick! It has been many years since I last had a technical problem with Prophix. When they do surface, their response to mission critical problems is quick. With non-technical problems (such as seeking input on the best way to do something), they put the right person on the issue to address the matter.
Prophix is used across the whole organization for financial reporting, budgeting, cash flows, detailed revenue analysis, and compensation management. We integrate Prophix with our financial GL system (Sage 300) and with our organization's CRM/ERP system.

Pros

  • Listens to customers. They are continuously building onto the product based on what customers are saying (such as User Conference, CAB, and Feedback forum).
  • The solution adapts to the organization, not the organization having the adapt to the software.
  • Excellent customer service department. When problems happen (rarely) or I need to consult with someone at Prophix, their response time is quick, and with the answer I need.
  • Senior Management Team are visible. They don't hide behind the curtain. I can call up any VP to discuss any issue.
  • The product works!

Cons

  • Overall, the product is excellent. Where they are currently working on is their web-based solution. What they have done so far is great, but can't wait to see more modules rolled out.
  • One version of the truth.
  • Closing month-end within days.
  • Death of Excel.
  • More in-depth analysis on variances.

In short, easy.

We import from MS-SQL and occasionally Access and Excel flat files. Importing is a non-issue.

We are on-premise. For us, the flexibility is not important, but it is nice knowing that Prophix offers this flexibility should we need (or want) to change.
We did kick the tires on a few other solutions when we were looking for something "other than Excel". Prophix stood out from the crowd at that time - mainly because of the personal service to demonstrate that Prophix could do what we wanted it to do.

Its core scenario is with financial reporting and budgeting. If you're doing many what-if scenarios or your Excel worksheet goes beyond a half dozen worksheets, then you need Prophix. If you're drowning in Excel, you must give Prophix a good look.

After your top-level financial and budgeting is running efficiently under Prophix, you can then move onto more detailed corporate performance analysis. For us, we did deep dives with Prophix on cashflow, revenue, and compensation.

Take a look at some of their customer videos and white papers. I've talked with several of these companies - they are real. What you can do with Prophix is endless.

Prophix Feature Ratings

10.0
Long-term financial planning
10
Financial budgeting
10
Forecasting
10
Scenario modeling
10
Management reporting
10
9.0
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
9
10.0
Financial Statement Reporting
10
Management Reporting
10
Excel-based Reporting
10
Automated board and financial reporting
10
9.2
Personalized dashboards
9
Color-coded scorecards
9
KPIs
9
Cost and profitability analysis
10
Key Performance Indicator setting
9
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

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