Prophix platform performs and lives up to Customer Service expectations
January 18, 2022

Prophix platform performs and lives up to Customer Service expectations

Anonymous | TrustRadius Reviewer
Score 9 out of 10
Vetted Review
Verified User

Overall Satisfaction with Prophix

We predominantly use Prophix for budgeting and to manage multiple budget cycles for our calendar fiscal year and multiple grants fiscal years. Budgeting via Prophix allows us to automate allocations and maintain original versions in addition to revision versions. Workflows help us to manage input and approvals from more than 40 users. Prophix is also becoming our main resource for reporting as we continue to learn the capabilities of the platform.
  • Detailed Planning for employees
  • Customer Service
  • Ease of updating member properties as reporting needs arise
  • Product education is available in multiple environments
  • Although Prophix has drill-down capabilities to both budget and actuals, the budget drill-down does not work when using an alternate hierarchy for reporting.
  • Line Item Schedules have some functionality constraints that sometimes cause end-users to take extra steps during the budget process.
  • Detailed Planning schedules are not available to end-users within Prophix after they submit their budgets. End Users have to download to Excel before submitting, or a Global Administrator must do that for them after submission.
  • Improved ability to provide re-forecasts
  • More accurate budgeting in less than half the time it previously took
  • Ability to provide more timely management reports
  • Dashboard charts and badges customized for different departments/security levels
Prophix has helped us completely move our annual operating budget and major grant budgets out of the Excel Workbooks and into their cloud-based platform, which provides easier access for our end users and a central location for the most current, up-to-date budget. no more wondering if everyone is working off the same version! Some smaller budgets for grant applications are still worked in Excel, after just over a year of using the product, but we anticipate that eventually, even those will be in Prophix.

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

Both of these other solutions were on our top 3 list. Based on responses to single-sign-on and multi-factor authentications, Solver was rated our number 3 choice. Workday Analytics was more "polished" and offered a great product. In the end, it was the customer service philosophy of Prophix to enable clients the ability to set up and manage the platform themselves that sold the product. Although we were only looking for a budgeting solution, we could also see how Prophix could be a complete reporting solution for us as well.
Most appropriate for gathering budget data for a variety of different needs, and the calculations have always proven to be accurate - if they have not been, it is because we set up the formula incorrectly! For example, we can have different allocation methods and rates depending on the budget cycle or stipulations of the funding source. Prophix is also well-suited to assist with budget cycle management and offers many options for workflows besides just sending out workbooks, such as task reminders. This platform is for the team that wants to be able to manage their own system without always having to engage with outside assistance. One of the reasons we chose Prophix is its commitment to teaching its clients how to use the product and maintain it themselves through multiple education mediums. They offer a Prophix Academy with online courses, an extensive online help manual, product webinars that include demos and Q&A sessions, an annual summit, and quarterly product updates, and a Customer Success package. Prophix actively solicits feedback for product improvement through their Feedback Forum and Prophix Red Carpet. Our IT department indicated this platform as the preferred platform among the platforms in our top 3 list based on the cloud vendor utilized by Prophix, direct API connection to Microsoft Dynamics SL, Single-sign-on capability, supported multi-factor authentication through VPN, Active Directory integration, and our requirements for a secure connection to the web application.

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
10
Detailed Audit Trails
Not Rated
Financial Statement Reporting
Not Rated
Management Reporting
10
Excel-based Reporting
10
Automated board and financial reporting
Not Rated
Personalized dashboards
9
KPIs
Not Rated
Cost and profitability analysis
Not Rated
Key Performance Indicator setting
Not Rated
Benchmarking with external data
Not Rated
Flat file integration
10
Excel data integration
10
Direct links to 3rd-party data sources
10
Drill-down analysis
9
Formatting capabilities
9
Report sharing and collaboration
10
Publish to PDF
9
Report Delivery Scheduling
10
Predictive Analytics
Not Rated
Multi-User Support (named login)
10
Role-Based Security Model
10
Multiple Access Permission Levels (Create, Read, Delete)
10
Responsive Design for Web Access
Not Rated