Great for budgeting when multiple inputs are required
Updated January 06, 2021

Great for budgeting when multiple inputs are required

Dan Hamzic | TrustRadius Reviewer
Score 10 out of 10
Vetted Review
Verified User

Overall Satisfaction with Prophix

We use it for budgeting and volumes forecast.

Pros

  • Multiple users can enter information.
  • Intuitive product.
  • Esthetically pleasing.

Cons

  • Could be faster for complex templates with complicated formulas.
  • Updating time periods could be made to be easier.
  • Graphs are okay, but could be nicer.
  • Faster budgeting.
  • Faster consolidation.
  • Accountability.
We are using Prophix for forecasting/planning. Furthermore it is a better software than Excel when multiple inputs are needed from many people across the organization.

Data is housed efficiently and it is easy to drill down and do analysis.

Interface is easy to navigate. However, if there are users who do not like to learn a new software, Excel templates can be available.

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?

I wasn't involved with the selection/purchase process

Did implementation of Prophix go as expected?

Yes

Would you buy Prophix again?

Yes

Perfect for large organizations where inputs from multiple people across organization is needed. This can be done with accountability which is a big plus. Also, Excel templates can be used for those users that do not like to learn new software.

Less appropriate for complex statistical analysis. Also, graph visualization could be nicer.

Prophix Feature Ratings

6.4
Long-term financial planning
7
Financial budgeting
9
Forecasting
5
Scenario modeling
6
Management reporting
5
7.6
Financial data consolidation
9
Journal entries and reports
8
Intercompany Eliminations
8
Local and consolidated reporting
8
Detailed Audit Trails
5
8.8
Financial Statement Reporting
8
Management Reporting
8
Excel-based Reporting
10
Automated board and financial reporting
9
8.5
Personalized dashboards
8
Color-coded scorecards
8
KPIs
9
Cost and profitability analysis
9
Key Performance Indicator setting
8
Benchmarking with external data
9
10.0
Flat file integration
10
Excel data integration
10
Direct links to 3rd-party data sources
10
BI Standard Reporting ()
Not Rated
9.0
Drill-down analysis
10
Formatting capabilities
8
Report sharing and collaboration
9
10.0
Publish to PDF
10
2.0
Predictive Analytics
2
10.0
Multi-User Support (named login)
10
Role-Based Security Model
10
Multiple Access Permission Levels (Create, Read, Delete)
10
10.0
Responsive Design for Web Access
10

Using Prophix

ProsCons
Like to use
Relatively simple
Easy to use
Technical support not required
Well integrated
Consistent
Quick to learn
Feel confident using
None
  • Data Integration
  • Reconciliation
  • Predictive Modeling
  • SQL integration
  • Complex statistical analysis
Great for budgeting when multiple inputs are required across the organization. It is very helpful to have possible Excel templates for people who refuse change and are not into learning a new software.
Data is housed efficiently and it's easy to do ad hoc analysis.
Prophix is very easy to use and it has a nice interface.

Prophix Support

We are still in touch with the consultant who helped my company implement complex forecasting models. This models are very specific and it helps that we have every possible person on the job if something needs to be changed. Their support team has a quick response and are pleasant to work with.

Comments

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