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User Review: "Prophix Transformed Our Reporting"
https://www.trustradius.com/corporate-performance-management-cpmProphixUnspecified9.1119101
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January 12, 2019

User Review: "Prophix Transformed Our Reporting"

Score 10 out of 101
Vetted Review
Verified User
Review Source

Overall Satisfaction with Prophix

Prophix is being used to consolidate financial and human resource information across our family of agencies. We import actual financials from our ERP on a daily basis and manually enter forecast data on a quarterly basis. Using template studio we build reports that are used to complete the board package quarterly. We also track employee headcount, salary, utilization, and work distribution in Prophix. Currently, our finance and client services departments are the only departments using the tool.

The biggest problem that Prophix addressed for our company was the consolidation and reporting of financials across our network. Before Prophix we used excel to do all of our consolidation. Prophix has made the consolidation process much more efficient and more effective.
  • Consolidations -- We can easily enter data in a multi-dimensional way that allows us to analyze our data in an efficient and meaningful way.
  • Automatic Processing -- Scheduled imports, currency conversion, and allocations allow for us to have the most up to date data
  • Quick Ad Hoc Reporting -- The ad-hoc application allows for quick analysis and reporting
  • Report building can be difficult at times, especially when moving data views, adding/removing rows and columns, and resetting data views.
  • Having too many versions in the Versions dimension slows down the system a bit.
  • Dashboards are available but are limited in capabilities
  • Much more efficient and meaningful board reporting
  • Direct connections to 3rd party ERPs
  • Less resources needed to complete tasks
  • Slightly less room for manual integration into reporting
Prophix consultants have been very helpful with integrating our many systems into Prophix. We are currently connected to 3 separate systems using ODBC connections and use a flat file from a 4th system. Prophix assisted us on all of the ODBC connections and walked us through all of the steps so that we could maintain the connections ourselves.
We currently have on-premise deployment but would be interested in the cloud-based offering. This is not too important to us, because we have the IT presence to support on-premise.
Prophix support has quick response times and very knowledgeable support staff. We usually hear back the same day whenever we have an issue. There are also consultants available for a cost if more extensive support is required. The consultants and support staff are very friendly and easy to work with.
Prophix would be perfect when having to compare financials across time or versions. Prophix would also be great for tracking statistics.

It would not as appropriate for tracking hours against jobs.

Prophix Feature Ratings

Long-term financial planning
10
Financial budgeting
10
Forecasting
10
Scenario modeling
8
Management reporting
8
Financial data consolidation
10
Journal entries and reports
7
Multi-currency management
10
Intercompany Eliminations
7
Minority Ownership
9
Local and consolidated reporting
10
Detailed Audit Trails
6
Financial Statement Reporting
10
Management Reporting
8
Excel-based Reporting
9
Automated board and financial reporting
8
Personalized dashboards
6
Color-coded scorecards
7
KPIs
8
Cost and profitability analysis
9
Key Performance Indicator setting
8
Flat file integration
7
Excel data integration
8
Direct links to 3rd-party data sources
7