Prophix is flexible and saves us time and money
April 01, 2021

Prophix is flexible and saves us time and money

Michelle Ferris | TrustRadius Reviewer
Score 10 out of 10
Vetted Review
Verified User

Overall Satisfaction with Prophix

We use Prophix for budgeting/forecasting, personnel planning, and financial statements. We are able to pull data out of our data warehouse, have one source of the truth, and make better decisions based on this. The finance team is the main user of Prophix, but we are expanding its use for budgeting/forecasting. It solves the problem of disparate systems and allows for more efficient budgeting/forecasting, closing the books, and reporting.

Pros

  • Personnel planning allows you to plan employees and burden rates in a detailed way
  • Reporting--flexibility and customization of data within reports
  • Security and permissions for users is customizable to the department and account level
  • Budgeting/forecasting--taking this process out of Excel saves time and money

Cons

  • Investment in training during implementation
  • Improvements to the software have been focused on things we don't use
  • We save multiple days a month on close and reporting.
  • We save multiple days a year on budgeting and forecasting.
We have moved away from Excel for personnel planning, budgeting/forecasting, and financial reporting. It was error prone and cumbersome doing this work in Excel.

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

Prophix was introduced to us by a former user. We did not evaluate any other products at decision time.
Prophix provides a flexible alternative to standard reports available in our software. It allows us to create and customize modern financials with a limited amount of work. Prophix saves us time during the budgeting, close, and reporting processes.

Prophix Feature Ratings

10.0
Long-term financial planning
10
Financial budgeting
10
Forecasting
10
Scenario modeling
10
Management reporting
10
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
10.0
Financial Statement Reporting
10
Management Reporting
10
Excel-based Reporting
Not Rated
Automated board and financial reporting
Not Rated
9.0
Personalized dashboards
5
Color-coded scorecards
Not Rated
KPIs
10
Cost and profitability analysis
10
Key Performance Indicator setting
10
Benchmarking with external data
10
9.0
Flat file integration
Not Rated
Excel data integration
Not Rated
Direct links to 3rd-party data sources
9
BI Standard Reporting ()
Not Rated
8.0
Drill-down analysis
9
Formatting capabilities
7
Report sharing and collaboration
8
8.7
Publish to PDF
8
Report Versioning
9
Report Delivery Scheduling
9
Not Rated
Predictive Analytics
Not Rated
10.0
Multi-User Support (named login)
10
Role-Based Security Model
10
Multiple Access Permission Levels (Create, Read, Delete)
10
Not Rated
Responsive Design for Web Access
Not Rated

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