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Love Prophix
Updated October 02, 2020

Love Prophix

Anonymous | TrustRadius Reviewer
Score 9 out of 10
Vetted Review
Verified User

Overall Satisfaction with Prophix

Our finance team primarily uses it, but we’ve also used it to roll our reports to operations in the field where they can pull financial information on their performance of business they manage.

Operations uses it to monitor site specific financial performance. Our larger F&A team uses it for that level of analysis but also annual budgeting process and corporate planning.
  • Flexibility of data use
  • Process manager allows us to streamline
  • Report building
  • Initial learning curve
  • It has decreased annual budgeting timeline.
  • Reduced time to month end close.
  • Streamlined monthly reports
We use Prophix for excel for a number of budgeting functions to pull in data that we then build our templates around. However, for yearly corporate planning for board, we have migrated completely over to prophix. It has allowed us to run processes to build a base plan for next year and then we can go into prophix and modify anything that needs more manual attention.
This is not something I use primarily with Prophix as I’m just a user and not an admin. But its functionality with Excel is very good and we use it daily.
We currently use it on premise but I think are open to cloud based deployment depending on more information.
We have been very pleased with our experience with Prophix. They have been great to work with and very collaborative. They also listen to their users and work on additional features based on feedback.

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?

Yes

Did implementation of Prophix go as expected?

Yes

Would you buy Prophix again?

Yes

I think after an initial learning curve, it's very usable and allows for greater report creation, ad hoc reporting, and report manipulation to give you exactly what you need. Weve migrated over more and more departments in F&A over to prophix as we've expanded our functionality with them.
This was my first CPM.
It is great for running complex processes on large steps of data. Some manual manipulation scenarios and calculations are still better in Excel. However, the prophix for excel functionality has allowed us to combine both tools to create the reporting, templates, and models that we need. It's one of the functions we utilize the most.

Prophix Feature Ratings

9.0
Long-term financial planning
9
Financial budgeting
8
Forecasting
10
Scenario modeling
8
Management reporting
10
8.8
Financial data consolidation
9
Journal entries and reports
9
Multi-currency management
Not Rated
Intercompany Eliminations
Not Rated
Minority Ownership
Not Rated
Local and consolidated reporting
10
Detailed Audit Trails
7
9.0
Financial Statement Reporting
9
Management Reporting
9
Excel-based Reporting
9
Automated board and financial reporting
9
8.2
Personalized dashboards
8
Color-coded scorecards
7
KPIs
8
Cost and profitability analysis
10
Key Performance Indicator setting
8
Benchmarking with external data
Not Rated
9.0
Flat file integration
Not Rated
Excel data integration
9
Direct links to 3rd-party data sources
Not Rated
BI Standard Reporting ()
Not Rated
8.0
Drill-down analysis
9
Formatting capabilities
9
Report sharing and collaboration
6
9.3
Publish to PDF
10
Report Versioning
9
Report Delivery Scheduling
9
7.0
Predictive Analytics
7
Not Rated
Multi-User Support (named login)
Not Rated
Role-Based Security Model
Not Rated
Multiple Access Permission Levels (Create, Read, Delete)
Not Rated
Not Rated
Responsive Design for Web Access
Not Rated

Growing with Prophix

We've been able to move our annual budgeting over to prophix. This has drastically shortened the work involved with our annual budgeting process and has allowed us to scale that as we've grown the business. We also produce all monthly financial an annual reports out of prophix and have automated much of that.
We are importing clinical data into prophix so we can compare that alongside the financials to see what clinical metrics might be driving corresponding correlations in the financials. This allows us to spot trends on the clinical side that may later impact financials. For example, we import clinic utilization metrics that also help us forecast what will happen to supply spend at the clinics.
I was not involved in the sales process but i've only heard good things about prophix from those in my organization who were involved in the start to finish relationship with prophix. As time has gone on, we've continued to expand with prophix and brought them in to assist us with growing in our usage of the platform and helping build out greater functionality.