Prophix: A one stop shop for all your data
April 01, 2021

Prophix: A one stop shop for all your data

Marcia Jo Frazier | TrustRadius Reviewer
Score 8 out of 10
Vetted Review
Verified User

Overall Satisfaction with Prophix

Prophix is used by the whole organization. The finance department does utilize Prophix more than any other department. It has allowed us to improve our budgeting process; we were able to eliminate duplicate work and hours combining spreadsheets. We have saved so much time that can now be dedicated to other tasks or analyzing data instead of just gathering it.

Pros

  • Automates repetitive tasks
  • Allows us to analyze hundreds of thousands of lines of data within seconds
  • Streamlining budgeting processes that cut down on the human error aspect

Cons

  • More flexibility needed in dashboard chart design
  • More flexibility in how accounts roll-up (children added together = parent total; sometimes I need to average the children to get the parent, but that is not a current feature)
  • I wish ad hoc analysis was available for standard users
  • Faster month-end close process
  • Streamlined budgeting process
  • More trust in monthly reporting packages; more visibility throughout the month
Oh, wow. I may run out of words for this one. We went from combining multiple versions of excel templates for 60+ offices and/or departments. Every year there were complaints about the end result not containing their most updated submissions. There was a mistrust of the finance team for "changing their numbers" when in reality it was usually that in combining the 60+ spreadsheets a mistake was inevitably made. Not only has the process been shortened by at least 1 month, but we are also able to show who inputted what numbers and when. There is a transparency that was not there before Prophix and that has been huge in building trust between our end users and the finance team.

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?

No

Would you buy Prophix again?

Yes

Prophix helps any business (regardless of size) that is having trouble analyzing large amounts of data. It allows you to focus on the big picture instead of having to comb through every single detail. Prophix can also guide your organization to a more disciplined approach, however, if you are not currently disciplined as an organization it can be a painful transition.

Prophix Feature Ratings

8.0
Long-term financial planning
8
Financial budgeting
8
Forecasting
8
Scenario modeling
8
Management reporting
8
Not Rated
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
Not Rated
7.3
Financial Statement Reporting
8
Management Reporting
8
Excel-based Reporting
Not Rated
Automated board and financial reporting
6
6.3
Personalized dashboards
6
Color-coded scorecards
Not Rated
KPIs
6
Cost and profitability analysis
7
Key Performance Indicator setting
Not Rated
Benchmarking with external data
Not Rated
7.3
Flat file integration
8
Excel data integration
8
Direct links to 3rd-party data sources
6
BI Standard Reporting ()
Not Rated
6.3
Drill-down analysis
6
Formatting capabilities
6
Report sharing and collaboration
7
Not Rated
Publish to PDF
Not Rated
Report Versioning
Not Rated
Report Delivery Scheduling
Not Rated
Data Discovery and Visualization ()
Not Rated
5.0
Multi-User Support (named login)
5
Role-Based Security Model
5
Multiple Access Permission Levels (Create, Read, Delete)
5
Mobile Capabilities ()
Not Rated

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