Prophix User for Budget Purposes
Updated October 02, 2020

Prophix User for Budget Purposes

Narine Chalumyan MBA | TrustRadius Reviewer
Score 8 out of 10
Vetted Review
Verified User
Review Source

Overall Satisfaction with Prophix

Prophix is being used company-wide for budgeting purposes. It helps us to move from Excel and at the same time we budget it "Bottom-to-Top."
  • Line item details per department and region.
  • Sales detailed planning per SKU and item and calculations for Gross Sales and Cost.
  • Detail planning per department and headcount and benefits.
  • Expenses per department in very granular details
  • GL updates from ERP systems (we need to add the new accounts manually).
  • New customers if added in ERP system we need to add those in Prophix sales cube manually
  • Everyone can change their budgets at their own pace before due date as many times as they would like before submitting for an approval.
yes made it simpler if users are doing it properly and timely
Import data is easy, however if we have an item not in Prophix it will reject it. We need to add rejected items manually before import is successful 100%.
Support for Prophix is excellent.
Support team from Prophix is beyond and above their duties and they are very professional and helpful

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?

I wasn't involved with the implementation phase

Would you buy Prophix again?

Yes

Moving from excel Prophix helps to keep all in track and organized.
It was selected before I started in the company.
For a manufacturing company ,if you have multiple level items per category, this is a very fluid and adoptable system to use.

Prophix Feature Ratings

Long-term financial planning
7
Financial budgeting
9
Scenario modeling
9
Management reporting
9
Financial data consolidation
8
Multi-currency management
Not Rated
Intercompany Eliminations
8
Minority Ownership
8
Local and consolidated reporting
8
Financial Statement Reporting
8
Management Reporting
8
Excel-based Reporting
10
Excel data integration
10
Drill-down analysis
10
Formatting capabilities
8
Report sharing and collaboration
8
Publish to PDF
7
Report Versioning
7
Report Delivery Scheduling
Not Rated
Predictive Analytics
8
Multi-User Support (named login)
10
Role-Based Security Model
10
Multiple Access Permission Levels (Create, Read, Delete)
10
Responsive Design for Web Access
Not Rated

Growing with Prophix

If implemented properly its a long term investment
keep track of prospective employees

Using Prophix

Workflow is the best tool to be used during Budget season. Gives an opportunity every user to concentrate on their own task and department and at the end see results via statements and make changes as necessary.
Line items details gives them an opportunity to work though details and eliminate or add while working on the budgets
Yes they did benefited from this issue.
25 - about 25 employees Sales team, finance team, organizations management
IT was not involved with support whatsoever

Integrating Prophix

As mentioned Import was the one of the best tool I used when using big data during budget season for sales as well as for DPM cubes
  • NA
I was not part of the integration process
  • File import/export
Importing and exporting information was one of the best tools I used with the software during budget season

Using Prophix

ProsCons
Like to use
Well integrated
Requires technical support
Lots to learn
  • AD Hocs
  • Import / Export
  • moving data from one cube to another
Microsoft 365 (formerly Office 365)

Prophix Reliability

very flexible for every single department
During busy times it would take a day to get someones help however they are good and very responsive
excellent

Relationship with Prophix Software

Prophix Support

ProsCons
Quick Resolution
Good followup
Knowledgeable team
Problems get solved
Kept well informed
Immediate help available
Support cares about my success
Quick Initial Response
Escalation required
Need to explain problems multiple times
Yes - took a while to resolve this issue
they had to fix a bug issue took over few months but they realized it was not their system trouble but our trouble and incorrect implementation issue

Prophix Training

  • Online training
  • in-person training
Excellent training for travelling was very detailed and helpful. Person who trained me was patient and knowledgeable about system.
The cons for training on site it moves very fast and sometimes you will not have enough time to learn and absorb all the information. However hands on training is excellent.
not very detailed but good enough if you have prior experience it is great.. The pros for training online you can go over and over again to make sure that you get it however it is very general and sometimes you miss few things should be done in the company's site with in house training.
There was no self taught here. Most of the training I received is via in person training which was 3 full day on the training site with other employees and then I had access to Prophix Online Academy, which also helped me to work on the system. Combination of the both, in person training and online classes are greatly helpful. Also, monthly webinars and training were great source of knowledge and updates.

Evaluating Prophix and Competitors

  • Product Features
I am not sure was not part of the decision

Prophix Implementation

Since company's IT department was not part of the implementation and it was done only by an executive assistant who did not have extensive knowledge about finance and accounting it was done VERY Poorly and haphazardly. Nothing was done properly and it was not planned correctly. It worked for short term but after 2 years we had to re-do all the cubes and it was very hard to fix and correct things
  • was not done properly and company's IT was not involved with it whatsoever

Configuring Prophix

Well since implementation was done so poorly reconfigurable was very complex and messy and not an easy thing to do. Especially if in house IT department was not part of implementation and refused to learn to do anything or help it was up to finance manager to correct it all who had not prior experience. so the process was a nightmare.