Prophix Financial Reporting-Budgeting-Forecasting Improves our Business
Updated December 27, 2022
Prophix Financial Reporting-Budgeting-Forecasting Improves our Business
Score 10 out of 10
Vetted Review
Verified User
Overall Satisfaction with Prophix
Users are currently all in the Finance Department but we issue reports to all company managers. We use it for financial reporting, personnel planning, and budgeting/forecasting. We also use it to consolidate our four separate entities into one consolidated financials Statement. In addition, we use it for financial analysis reporting by Product and by Market.
- Our monthly financial reporting was a key reason we purchased Prophix.
- Consolidations for financials reporting with records of eliminations is a key thing we use it for.
- We use Prophix for all our annual budgeting. We can export "offline templates" for Managers to complete for departmental budgets and then we can re-import their data without having to manually input the data.
- Throughout the year, we can do several iterations of forecasts to provide management very detailed year forecast results.
- I would like to see improvements in the area of report templates so when a change is made the system keeps better track of formulas. Right now, even though the system asks you if you want to maintain formulas, some stay, and some have to be added back in.
- We have found Prophix to have a solid payback for the way we use it. Hard to put a number on it but budgeting has become much easier and much more detailed.
- Detailed planning personnel is a large reason budgeting has become easier and more accurate.
Our budgeting used to be entirely in Excel. Prophix has allowed us to keep departmental managers using Excel but allowed us to import the documents we get in and export out Excel documents that users are used to working with.
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