Prophix
Updated September 21, 2021

Prophix

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

Overall Satisfaction with Prophix

Prophix is being used in the insurance services division of our organization. It is being used by multiple products but only this division. We use it for reporting, forecasting, and budgeting. Additionally, our administrative department owners use Prophix for headcount budgeting and regular budget vs. actuals reporting.
  • Allocation logic
  • Template studio
  • Drill accross
  • Work Flow - allowing multiple users to submit forecast/budget information and roll-up to total
  • Better integrated with Microsoft (excel)
  • We had a difficult transition to the Cloud version and were less than thrilled with our customer support throughout the process. The entire process took over a year.
  • Streamlined budgeting
  • Streamlined forecasting
  • Detailed level planning (DPM)
We're able to open processes to multiple users (finance owners of each of our multiple product lines) so that they are able to submit budgets and forecasts within Prophix. My team then consolidates all submissions within Prophix and works through high level adjustments/consolidating changes. It's easier than asking for excel templates from all areas and can all be done within Prophix. We can also save prior versions so that we can do detailed level comparisons of prior version vs. current version to be able to explain the changes from one month to the next.
Our data from our general ledger (PeopleSoft) sometimes runs into errors/issues when importing after month-end close. We often have to contact Prophix for assistance. We'd prefer to be able to troubleshoot ourselves, but sometimes are not given a thorough explanation as to what went wrong in the first place.
We've been utilizing the cloud for over a year now. We enjoy the cloud environment for the most part. The integration was difficult and time consuming for my team.

Do you think Prophix delivers good value for the price?

Yes

Are you happy with Prophix's feature set?

Yes

Did Prophix live up to sales and marketing promises?

I wasn't involved with the selection/purchase process

Did implementation of Prophix go as expected?

No

Would you buy Prophix again?

Yes

Better drill across capabilities and easier to do quick adhoc reporting. Able to build complex allocation processes.
I've used other budgeting/reporting tools and I do think Prophix has been easy to learn, is dynamic, has multiple levels of details/drill across functions available, etc. We do not use Prophix for our month end close, but we do use it for all of our reporting, budgeting, and forecasting. My team collects budget and forecast data from multiple areas and Prophix makes it possible for these users to submit their product line forecasts/projections within Prophix, and then we can roll up the data into our totals and analyze at the system-wide level.

Prophix Feature Ratings

Long-term financial planning
8
Financial budgeting
8
Forecasting
8
Scenario modeling
8
Management reporting
7
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
Not Rated
Financial Statement Reporting
7
Management Reporting
7
Excel-based Reporting
5
Automated board and financial reporting
7
Personalized dashboards
8
Color-coded scorecards
Not Rated
KPIs
Not Rated
Cost and profitability analysis
Not Rated
Key Performance Indicator setting
Not Rated
Benchmarking with external data
Not Rated
Flat file integration
7
Excel data integration
5
Direct links to 3rd-party data sources
7
Drill-down analysis
9
Formatting capabilities
5
Report sharing and collaboration
5
Publish to PDF
Not Rated
Report Versioning
6
Report Delivery Scheduling
Not Rated
Predictive Analytics
5
Multi-User Support (named login)
7
Role-Based Security Model
7
Multiple Access Permission Levels (Create, Read, Delete)
7
Responsive Design for Web Access
Not Rated

Growing with Prophix

We've had success automating our budgeting & forecasting process. We also use this as our main reporting tool and utilize the many drill across options so that we can dive into AP detail, T&B detail, journal line detail, etc. all in one system without having to run queries.
We really only utilize it for finance functions at this point.

Prophix Support

ProsCons
Good followup
Problems get solved
None
We are supposed to have premium support via the CSP program
Yes - Sometimes yes, sometimes no
We've had positive and negative experiences. The consultants that assisted us in the cloud migration were not helpful and often condescending. It really felt like we were responsible for knowing everything about the back end of Prophix in order to have a successful migration - instead of Prophix being the experts and leading us to success.