Satisfied and Worth It
Updated May 06, 2021

Satisfied and Worth It

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

Overall Satisfaction with Prophix

Prophix is being used for our financial reporting, budgeting, forecasting, and personnel planning needs. We have a unique user for each department within the organization. The initial business problem addressed by Prophix was a need for financial reports to seamlessly get to our end-users. Prior to Prophix, our reports would be ready within 3-4 days after closing the month. Today we cut that down to 1 day!
  • Less time formatting reports equals more time analyzing.
  • Unique dashboards for groups of users.
  • Personnel planning allows for various scenarios.
  • More color options for charts.
  • Streamlined exporting financial reports to end-users from 3-4 days to just under 1 day.
  • Annual budget and personnel planning can be done seamlessly through the same program allowing more time to review and make informed decisions.
Prophix has helped significantly shorten our budget process to complete in just under 2 months. Budget managers are able to utilize the Prophix workflow to input their specific areas and the results consolidate automatically and populated onto our financial reports for further analysis. Budget approvers can easily pull up individual or roll-ups and drill down to the GL level if needed.
The imports from our ERP and other 3rd party sources are done with a click of a button through the Process Manager feature. This was set up at implementation and has been a great experience seeing how quickly the data transfer over. If there are any discrepancies the error log will inform you if there is a newly created GL code and is easy to reconcile.
Our prior resource was on-premise, however we wanted to move to a private cloud, Prophix allowed that for us. The flexibility that they have to do both is important because some companies may not be ready to move on to a cloud, so the solutions that Prophix provide can still be provided no matter which you decide to deploy.

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

When deciding on a new solution 2 years ago, we were transitioning from using Microsoft Forecaster which was outdated. The two solutions that stood out were Prophix and Solver BI360. Prophix became our solution of choice due to the ease of use, workflow, financial reporting, forecasting, budgeting, dashboards, and personnel planning capabilities.
I would recommend Prophix for an organization that still utilizes Excel or un-supported reporting tool and has over 50 reports to format for end-users each month, Prophix will become a huge asset in cutting that time and allowing for more useful data analytics to be done. Also the ability to create a forecast or budget from multiple users using the workflow is a valuable tool.

Prophix Feature Ratings

Long-term financial planning
9
Financial budgeting
10
Forecasting
10
Scenario modeling
9
Management reporting
10
Financial data consolidation
10
Journal entries and reports
10
Multi-currency management
Not Rated
Intercompany Eliminations
Not Rated
Minority Ownership
Not Rated
Local and consolidated reporting
10
Detailed Audit Trails
10
Financial Statement Reporting
10
Management Reporting
10
Excel-based Reporting
9
Automated board and financial reporting
8
Personalized dashboards
9
Color-coded scorecards
Not Rated
KPIs
9
Cost and profitability analysis
9
Key Performance Indicator setting
Not Rated
Benchmarking with external data
Not Rated
Flat file integration
9
Excel data integration
9
Direct links to 3rd-party data sources
9
Drill-down analysis
9
Formatting capabilities
9
Report sharing and collaboration
10
Publish to PDF
10
Report Versioning
7
Report Delivery Scheduling
9
Predictive Analytics
Not Rated
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

Prophix Support

ProsCons
Quick Resolution
Good followup
Knowledgeable team
Problems get solved
Kept well informed
No escalation required
Immediate help available
Support understands my problem
Support cares about my success
Quick Initial Response
None
We did purchase the Customer Success service provided by Prophix. It helped us mostly during post-implementation, once the consultant left off-site we were able to reach out and instantly receive support for any technical questions. It is helpful for new customers to receive this assistance and reassuring that the team is able to work through any issues that may arise.
Yes - We did experience an issue with our data connection with our ERP. The response time was quick and the consultant was able to work with our IT team directly to figure our the issue and reinstall some necessary updates on our end. Overall we were satisfied and the issue was resolved.
When we transitioned into a new fiscal year, we had an error that completed deleted our prior year data and there was an upcoming Board meeting to review those financials. Prophix was able to escalate the issue to their support team and they helped resolve the issue. The quick response from Prophix proves they have an exceptional support team.
The initial support provided through the on-site implementation consultant is priceless. This person literally helps build your system from scratch. Once that is complete the online support is very easy to use and they reply within a few hours or a day depending on when you put the support ticket. Once they reach you and discuss your issue they are very helpful in getting it resolved in a timely fashion.

Prophix Training

  • Online training
  • in-person training
The initial integration consultant was very helpful in making sure we were set up with all the essential uses we required: reporting/budgeting/forecasting. There was a learning curve but our consultant made it very easy to understand and helped me be comfortable in my Global Admin role in the system. Even after integration, we were given support whenever I came up with an idea I would get in touch and I would be trained on how I can implement it.
The online training is really good, there are tons of videos that help walk through each and every feature. Users are given access through a special portal called the Prophix Academy. Another useful online training provided is the monthly webinars, where consultants share useful tips and features that users may overlook.
Once the implementation consultant leaves, there is a period of self-learning through both Prophix Academy training videos and just using the system daily. The hands-on self-training is doable but I would not recommend it without first utilizing the training videos first. There are a number of features that a new user will need to become familiar with before being able to build and create.