Our One Source Of Truth

We use Prophix for all of our financial reporting, forecasting, and budgeting across the whole organization. It is used for all of our month-end reporting, our quarterly re-forecasting, and our yearly budget process. It is also used for any ad hoc reporting requested by our executive/management team. It is our one source of truth for all financial data.

We have just started using Prophix to review our customer profitability. It allows us to analyze each customer and how we can improve their profitability and in turn the companies profitability.

It has allowed us to do away with almost all of our Excel based budgeting. As I said before it also gives us one source of truth so you do not have to worry about who has the most current version of an Excel spreadsheet. Prophix does allow you to export files to Excel or PDF for non-Prophix users.

We have a data feed from Sage every hour for our revenue, expenses, depreciation, etc. We have it set up so if there is a problem with the data feed that it alerts us with an e-mail. This allows us to address that error if and when it occurs. This data feed allows Prophix to be updated with actual data every hour so it is about as close as you can get to real time system.

We are presently on-premise. We are, however, looking at moving it to the cloud so having the availability of that functionality is very important to us. The cloud version has several great features and upgrades that we would like to use but are unable to use with the on-premise version.

Prophix has allowed us to greatly reduce our Excel dependency for budgeting, planning and re-forecasting. It has also made it much easier to get input from more people during the budgeting, planning and re-forecasting process.

The ease of distributing month end reports or any reports is also a great advantage.

Lastly being able to drill down into an account to see the specific expenses is also a great plus.

We use Prophix in the personnel realm to calculate and track headcount. We also use it to track proposed additional personnel needs and the cost of those additional personnel.

Our experience with the Prophix team has been first rate from the pre-implementation process to the implementation process to their support after we were implemented and up and running fully. We can reach out to Prophix support and set up appointments to answer any questions we have or assist us in any way.

We have used line item detail a great deal in our budgeting/forecasting process. It allows us to capture and highlight all of the detail that goes into the plan/forecast for each account. Line item details allows us to convey all of the details that make up an accounts budget or forecast. It also allows us to track any changes that are made to the budget/forecast during the process.

We use the automated report distribution. Each month end we have it set up to send out all financial reports to the appropriate person or persons.

We also use template pre-population for our budgeting/forecasting process to give our users a starting point for their budgets/forecasts.

Prophix does a nice job assisting with the integration.

I was not with the company when this was done so cannot answer this question.

They are very good to deal with so not sure it needs to be improved in my opinion.

Yes, we use it whenever we encounter a problem that we cannot fix or need assistance on a calculation or formula development.

We had a problem with our database one time right in the middle of our forecast process. They were there to offer solutions to our IT team and be available as the problem was solved.

Prophix has a lot of people that know their system very well. I would suggest that you use them instead of trying to learn it without training.

Would not change anything.

Be sure you include everyone that will use Prophix included in the pre-implementation meetings so you make sure you set it up the best for everyone's use.

We have not added any customization or configurations to Prophix.