Prophix - great for budgeting and forecasting
April 10, 2020
Prophix - great for budgeting and forecasting
Score 9 out of 10
Vetted Review
Verified User
Overall Satisfaction with Prophix
We use Prophix for the whole organization. It is the budgeting system that we use for each department to check, daily, their budget to actuals spending/variances. We also rely on it during the development of our fiscal year budget. And we also use it to forecast the cost of our labor.
- Drill Across, feature that allows users to access underlying details of actuals, even with links to the actual scan of an invoice in our ERP system
- Line Item Schedule, feature that allows us to detail budget lines
- Infoflex, allows us to target specific data to test scenarios
- Cell comments are currently not able to be viewed in a report or downloaded
- It is currently not possible to copy and paste from excel to Prophix in the Line Item Details
- It is currently not possible to know what Cube you are in from viewing the report or adhoc
- Greater knowledge of department budgets
- More efficient use of employee time
It was very challenging to set up the data integration for our budgeting system because we have a 12-month fiscal year cycle for our operating budget and ongoing budget changes for our capital funds, not restricted to a start and end month. Prophix seems to be limited in staff resources to help with integration.
We started off with the cloud and have been very happy with it (except that it did not retain the comment feature - won't show up in Excel after downloading).
We considered Oracle and Hyperian.