Long-time Prophix Admin and User
Updated October 02, 2020

Long-time Prophix Admin and User

Rob Strothkamp | TrustRadius Reviewer
Score 10 out of 10
Vetted Review
Verified User
Review Source

Overall Satisfaction with Prophix

We use Prophix for our global monthly financial reporting, budgeting, forecasting, and financial analysis.
  • Consolidating data across multiple ERPs.
  • Budgeting & forecasting across multiple ERPs.
  • Analyzing results.
  • Improved dashboarding functionality.
  • Prophix is priced very competitively and offers a high ROI versus competitors.
We have migrated from using Excel for budgeting and forecasting, to using Prophix for those activities. This allows more reporting flexibility including the ability for our department managers to review monthly budget vs. actual results and to drill across and analyze their own data down to the transactional level! With adhoc queries, it is also possible to 'slice and dice' results and view them much more easily.
We integrate data from 6 ERPs currently.
We use Prophix on-premise currently.
Sometimes it takes multiple calls to get a response from the Prophix support line.

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

Prophix is very user-friendly.
Prophix is well suited for a company with multiple ERPs and/or a company making acquisitions.

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

Growing with Prophix

We have implemented consolidated global financial reporting, global budgeting, global forecasting and value stream reporting. All have been big wins with our user community!
We are looking into a new project to capture non-financial data into statistical accounts (such as A/R aging bucket info) that will support our monthly board reporting.
Our experience from first interaction with Prophix during sales all the way through implementation has been great! Of course, a key part of that is picking the right implementation partner, and we have an excellent consultant that assists us.

Using Prophix

We use workflow for budgeting and cell commentary for documenting budget details.
Our company benefits from the use of workflow for budgeting and multi-tiered allocations for our value stream reporting.
40 - The user group includes finance, department managers and executive management.
2 - We have 2 admins who support structural changes and 1 advanced user

Integrating Prophix

Our 2 primary systems were easy to integrate.
  • Oracle Financials
  • Select Line
We have integrated monthly financial data from our various global companies and it was not too difficult to integrate.
  • Possibly other ERP which we currently use manual loads right now
Some ERP vendors support integration, but it's almost always possible.
  • File import/export
Pick the right consultant!

Using Prophix

ProsCons
Like to use
Relatively simple
Easy to use
Technical support not required
Well integrated
Consistent
Quick to learn
Convenient
Feel confident using
Familiar
None
  • Ad Hoc Analysis
  • Financial Consolidation
  • Budgeting/Forecasting

Prophix Reliability

No issues here
Prophix is almost always available. On rare occasions, a technical issue has occurred.... but very rare.
Prophix pages load quickly.

Relationship with Prophix Software

Smooth sales process
We have an excellent consultant!
Some elements of pricing were negotiable.
Interview and select the right consultant!

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
None
Yes - Using a Prophix consultant for ongoing support is the best option.
Support is typically exceptional!

Evaluating Prophix and Competitors

Yes - Use of a custom Oracle Financials consolidation process
  • Price
  • Product Features
  • Product Usability
  • Product Reputation
  • Prior Experience with the Product
  • Vendor Reputation
  • Third-party Reviews
Pricing is very reasonable compared to other products like Adaptive Planning and Host Analytics

Prophix Implementation

Select the right consultant!
  • Third-party professional services
Hired a consultant that I used at a former company.
Yes - 1) Budgeting, 2) Financial Consolidation, 3) Forecasting, 4) Other operational reporting
Change management was a minor issue with the implementation - No issues were difficult to overcome.
  • No significant issues

Configuring Prophix

Select the right consultant to guide you through the process!
No - we have not done any customization to the interface
Some - we have added small pieces of custom code - Prophix consultant handled this.