Powerful and flexible reporting tool
Updated September 11, 2021

Powerful and flexible reporting tool

Albert Kurtz | TrustRadius Reviewer
Score 8 out of 10
Vetted Review
Verified User
Review Source

Overall Satisfaction with Prophix

We use Prophix for Capex planning and project management including variance analysis budget vs actual, internal reporting (formal quarterly reports, ad hoc management reports, with variance analysis year-on-year), consolidated external reporting (several entities across multiple countries and currencies), other external reporting. Prophix replaces time-consuming Excel processes to compile complex reports. Workflows streamline monthly processes and support multi-level approvals.
  • Flexible--reports on almost anything in any format
  • Powerful--analyzes huge volumes of data, deals with lots of complexity
  • Great customer support and community/forum of users
  • Big investment in time and training
  • Length of time to fully understand, implement, and realize benefits
  • Software-specific jargon
  • Streamline external audit (FS consolidation)
  • Streamline other regulatory compliance work
  • Streamline internal periodic and ad hoc reporting
  • Enable more reporting
Prophix reports can easily replace periodic replicating of spreadsheets. Actual performance is easily tracked and compared against budgets. budgets can be easily flexed and/ or rolled forward. Workflows can optionally be set up which formalise the process and allow for appropriate levels of review and approval as required.
Prophix is a highly powerful product capable of reporting on data from multiple sources. We hae multiple systems automatically importing into Prophix every night, and additional imports can be manually scheduled as required. Implementation of such systems is complex; for best results invest in one of their customer success packages for full support.
The cloud-based version is a helpful feature and most customers moving to cloud; the pros and cons of cloud versus on-premise are well discussed elsewhere. For us and most other customers it is a question of if rather than when we will move to the cloud. We appreciate that both are supported until we can make the switch.

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

I was not involved in the selection of Prophix so am not able to compare against other reporting tools. Prophix is still a relatively uncommon option in Europe, most larger organizations will use an SAP or Oracle or Hyperion offering.
Coupa is now being rolled out for the P2P function across our group of companies.
Prophix is appropriate for almost any reporting requirement, internal or external. It deals with data from multiple sources. It has worked well for us. It's less appropriate for General ledger, P2P, and AR. Being cloud/ web based, you will of course need a very good internet connection or performance will be very slow.

Prophix Feature Ratings

Long-term financial planning
8
Financial budgeting
8
Forecasting
8
Scenario modeling
8
Management reporting
10
Financial data consolidation
8
Journal entries and reports
8
Multi-currency management
8
Intercompany Eliminations
8
Minority Ownership
Not Rated
Local and consolidated reporting
10
Detailed Audit Trails
Not Rated
Financial Statement Reporting
7
Management Reporting
9
Excel-based Reporting
10
Automated board and financial reporting
9
Personalized dashboards
9
Color-coded scorecards
9
KPIs
9
Cost and profitability analysis
9
Key Performance Indicator setting
9
Benchmarking with external data
Not Rated
Flat file integration
8
Excel data integration
8
Direct links to 3rd-party data sources
8
Drill-down analysis
7
Formatting capabilities
6
Report sharing and collaboration
8
Publish to PDF
8
Report Versioning
9
Report Delivery Scheduling
9
Predictive Analytics
Not Rated
Multi-User Support (named login)
10
Role-Based Security Model
Not Rated
Multiple Access Permission Levels (Create, Read, Delete)
10
Responsive Design for Web Access
Not Rated

Using Prophix

ProsCons
Like to use
Consistent
Convenient
Feel confident using
Requires technical support
Lots to learn
  • budgeting
  • internal reporting
  • consolidation
  • initial setup
big learning curve, but excellent product. Don't underestimate the investment in time, training, staff, and support required from them. But it will pay off.

Prophix Support

ProsCons
Knowledgeable team
Kept well informed
Support understands my problem
Support cares about my success
Quick Initial Response
Problems left unsolved
we did not purchase premium support in this instance as it did not seem value for money for our group of companies.
I haven't been the main point of contact so I have limited scope to answer this question. However I will mention the "Red Carpet" - an awesome dedicated forum to connect with other users to share knowledge and experience, tips, and have some fun on the side! A fantastic offering.
The European presence is smaller than North American presence, smaller customer-base and support team here. But this aspect is improving and they are expanding their global reach. As a whole they remain very responsive to feedback and suggestions and their product and overall service are constantly improving. We are a satisfied customer.