Prophix Review - Accurate and Efficient Budgeting
April 01, 2021

Prophix Review - Accurate and Efficient Budgeting

Alex Kaiser | TrustRadius Reviewer
Score 10 out of 10
Vetted Review
Verified User
Review Source

Overall Satisfaction with Prophix

Prophix is currently being used to budget, report profit and loss statements, and do variance analysis for over 20 programs. We also use Prophix for reporting on personnel planning and cross charging between departments. We integrate Prophix with our production databases to show real time production trends. Over 20 program managers interact with Prophix and make business decisions using the most up to date, relevant data. Prophix saves a lot of time for our company and helps provide the most relevant data for business decisions.
  • Prophix helps tremendously with the budgeting process. It allows scalability when we add new programs. The flexibility of Prophix allows for an accurate and efficient budgeting process.
  • Prophix does an excellent job at building data integrations, which helps feed the most recent data into Prophix with no manual processes.
  • Prophix's customer support team is amazing and is always willing to help you build more functionality into the product as time goes on and additional needs are identified.
  • I can't identify any areas where Prophix has room for improvement. The product works great!
  • The greatest impact Prophix has had is provided useful data for business decisions, especially with variance analysis and real time production data.
  • Prophix has saved our company a considerable amount of time during our budgeting/forecast process as well as reporting actuals and variance to managers.
Prophix is much more flexible and robust than excel. I recommend every organization uses Prophix for budgeting/reporting to ensure the data is accurate and to save time. The Board Report and other reports can be done automatically every month by Prophix, which ensures accuracy and saves a tremendous amount of time.

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

Our company used Vena for our budgeting and forecasting process, but it never ended up working correctly for our organization. Once we switched to Prophix, we have had a much better experience from the start. Prophix's implementation team helped us design everything very well and showed us what we would need to do after going live. Their customer support is amazing, and the Customer Success team is always willing to add more features, if the need arises. Now our budgeting/ forecasting process is much easier.
I think Prophix is best suited for budgeting, reporting actuals, and looking for variance analysis. Prophix is also great at showing real time production data to managers and the executive team. Prophix is amazing to use when changes occur within your organization and flexibility is desired. I would highly recommend Prophix to any organization.

Prophix Feature Ratings

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