Great system for reporting and planning
April 01, 2020

Great system for reporting and planning

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

Overall Satisfaction with Prophix

Prophix is used as our main internal reporting tool which houses plan and forecasts along with actual data from ledger. The system is mainly used by Accounting and Finance but insight from department heads is gathered regularly. Reports are sent out on a monthly basis for review so all members of our support center are familiar. We are also looking to drive accountability by adding our general managers to the system.
  • Reporting.
  • Planning.
  • No IT needed.
  • Glitches in areas like process manager.
  • Not overly customizable.
  • No offline user for cloud customers.
  • No Microsoft integration.
  • Not able to make data connections without Prophix.
  • Financial reporting to the field to make better decisions.
  • Optimize planning and forecast process.
  • The system needs a competent admin.
  • Training is required and expensive.
We currently have one integration to our ERP. It did not go smoothly at all and took several months to complete after saying Prophix was a gold star partner. All implementations have been bumpy and costly. We were planning on adding other systems, but it cost too much. Since we are cloud, we need Prophix to handle all integrations which is frustrating given the annual fees we pay. We would make other connections if we could make them ourselves and not have an added fee. It was a functionality we asked about from the start and were misled.
The flexibility would be great if we knew about it. A public cloud instance managed by Prophix is good for upgrading but bad for integrations. We would definitely be interested in a flexible environment. The communication with Prophix has not been great to say the least. Good thing the system does not require hand holding for tech savvy customers.
The actual support team is fantastic. The only downfall is timing occasionally. Any corporate support has left much to be desired. I only had one person from maybe a dozen who was helpful and responsive even during implementation. Prophix touts its support, but it is definitely two-sided between corporate and support team.
We selected Prophix because of prior experience with the system. Support was an issue in the past, but the system requires no IT help which is a major time saver for Finance and Accounting. The familiarity was a major factor in choosing Prophix over other systems. We looks at a bunch including Adaptive, Host, BPC, etc.
Prophix reporting is dynamic and a huge time saver. The implementation left much to be desired. We paid a bunch of money to have Prophix come to our office, and I had more knowledge through my experience. The cost is also a prohibitive factor. Planning logic can be used to save a ton of time, but it does take time to learn. Prophix has major flexibility and is wide open to the imagination, but it does require a lot of training or good old trial and error.

Prophix Feature Ratings

Long-term financial planning
Financial budgeting
Scenario modeling
Management reporting
Financial data consolidation
Journal entries and reports
Multi-currency management
Not Rated
Intercompany Eliminations
Not Rated
Minority Ownership
Not Rated
Local and consolidated reporting
Detailed Audit Trails
Financial Statement Reporting
Not Rated
Management Reporting
Excel-based Reporting
Automated board and financial reporting
Personalized dashboards
Color-coded scorecards
Cost and profitability analysis
Not Rated
Key Performance Indicator setting
Not Rated
Benchmarking with external data
Not Rated
Flat file integration
Excel data integration
Direct links to 3rd-party data sources