Prophix - By Finance for Finance
December 17, 2018
Prophix - By Finance for Finance
Score 8 out of 10
Overall Satisfaction with Prophix
Prophix is used by our entire organization to varying degrees. The whole organization uses it for our annual budget, but we're in the process of making elements of Prophix easier to use so that the rest of the organization (outside of just Finance) have a desire to use it year-round. Various Finance teams use it year-round already and it's become our preferred way of reporting financial results internally.
- Pivot table like ability to view and adjust information via ad-hoc.
- Prophix uses processes called infoflexes which are extremely flexible and enable you to easily automate very complex allocation logic.
- Provides the ability to drill into sub-detail via their "Drill Across" functionality.
- The built-in report builder is clunky and limited in terms of ability to format reports.
- The performance (on-premise, not cloud) can be slower than users would like, particularly when dealing with lots of data within DPM.
- Error messages are not particularly helpful, even for the administrators. Still have to frequently contact Prophix to understand what an error message means.
- Workflow functionality is extremely limited and minimally customizable.
- Ability to control aspects of security is limited, and requires creative workarounds in order to meet the required internal review structure.
- Cut down on the time spent aggregating and reviewing budgets by a wide margin. No longer reliant on hundreds of Excel workbooks and relinking them together to aggregate data.
- One source for all financial information and ability to tie in other key sources that have financial impacts.
We link Prophix to our General Ledger, Peoplesoft Financials, as well as some custom built SQL tables with Insurance claims data. I don't have experience integrating data into other systems as a comparison, but I believe Prophix makes the process reasonably simple.
Deployment flexibility was not initially important to us, but now is. We are moving away from our on-premise solution and to the cloud solution. This will allow us to take advantage of the latest Prophix releases as soon as they're available and should result in a more stable and fast environment.
Support for Prophix has been tremendous. They are always willing to assist, even when the issues are caused by something our side did (or didn't do). The only complaint I have is that I'm usually unable to get on a call/screenshare with their support team until 1 day later. I would like to address all of the issues on the same day, but I recognize that's unrealistic, and don't hold this against them too much. But it would be nice to have same-day support availability most of the time.
Prophix has allowed us to easily recreate some of our complex allocations so we can manage our whole budget process within Prophix. It also provides a very clean and easy to use interface for accessing financial information quickly. Unfortunately, we have not been able to completely eliminate our reliance on Excel. Some on my team still prefer building/formatting their reports in Excel because of the limited functionality and formatting available in Prophix's built-in report builder.