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Prophix: Advancements in Reporting and Budgeting
Updated June 22, 2023

Prophix: Advancements in Reporting and Budgeting

SABRINA DEYOUNG | TrustRadius Reviewer
Score 10 out of 10
Vetted Review
Verified User

Overall Satisfaction with Prophix

We use Prophix for our end of month process, financial reporting, budgeting, forecasting, and sales analysis. With the use of Prophix we have streamlined a majority of our processes to remain consistent and on time when reporting to our Board Members. We have also had multiple calls with Prophix's development team regarding new and enhanced items which has made our partnership more profitable.
  • budgeting and forecasting
  • add accountability to those tied to the end of month process by allowing for review of financial reports
  • ad hoc analysis of different products or services offered to customers
  • Prophix should allow for email report disbursement from the cloud to non-users
  • Dashboard reporting to advance and display current day-to-day metrics with projections
  • Our end of month process has streamlined over the years to account for a 3 day close rather than the previous 7 day
  • Finding errors when the financials are pulled is also easier with the consolidation reporting that Prophix offers
  • Allowing for Prophix to compile all end of month reports also saves admin time at EOM
Prior to Prophix we were Excel based when budgeting which was hard to match formats and accounts between business units. When converting to Prophix we were able to allow for manager login and take full ownership of their departments and budgets. Overall, the process was easier, and everyone was on board, allowing for a smoother conversion process.
before we converted to Prophix, we utilized Excel as our intercompany integration software. This was time consuming and very manual.

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

We were on the desktop version of Prophix and converted to the Cloud. We thought this process was going to be long, tiresome, and complex but Prophix had a very specific timeline and a hands-on project manager who led us through this process with no issues, seamless transition, and before our due date. The conversion alone I would highly recommend another company to Prophix based on their professionalism and hands-on approach to make the conversion fun and interactive.

Prophix Feature Ratings

10.0
Long-term financial planning
10
Financial budgeting
10
Forecasting
10
Scenario modeling
Not Rated
Management reporting
10
10.0
Financial data consolidation
10
Journal entries and reports
10
Multi-currency management
Not Rated
Intercompany Eliminations
10
Minority Ownership
Not Rated
Local and consolidated reporting
10
Detailed Audit Trails
10
10.0
Financial Statement Reporting
10
Management Reporting
10
Excel-based Reporting
10
Automated board and financial reporting
10
10.0
Personalized dashboards
10
Color-coded scorecards
10
KPIs
10
Cost and profitability analysis
10
Key Performance Indicator setting
10
Benchmarking with external data
10
10.0
Flat file integration
10
Excel data integration
10
Direct links to 3rd-party data sources
10
BI Standard Reporting ()
Not Rated
10.0
Drill-down analysis
10
Formatting capabilities
10
Report sharing and collaboration
10
10.0
Publish to PDF
10
Report Versioning
10
Report Delivery Scheduling
10
10.0
Predictive Analytics
10
10.0
Multi-User Support (named login)
10
Role-Based Security Model
10
Multiple Access Permission Levels (Create, Read, Delete)
10
Report-Level Access Control
Not Rated
10.0
Responsive Design for Web Access
10

Growing with Prophix

Our EOM process was decreased from 7 days down to 3- we strive for real-time analytics and reporting to make important business decisions.
we utilize Prophix for our People Cube- this allows us to properly budget by department, by headcount and benefit funding to ensure we are offering competitive salaries and benefits for our industry.
Always wonderful service- we effectively use various communications to resolve issues/questions in a timely manner. Our assigned rep checks-in and helps with any and all questions we may have to ensure we are using our software to the best of our abilities.

Using Prophix

We effectively use these additional capabilities to enhance our reporting features when reporting to our employees and board. We try to add as much detail as possible to our budgeting reports to ensure we have items to reference when variance populate or references to look into when questions arise.
We have effectively streamlined a majority of our processes thanks to the automation that Prophix provides due to these enhancements. We have created processes that work with our EOM procedures that allow for quicker, real-time reporting.
3 - People that utilize Prophix are in the Finance dept: Accounting Manager, Senior Compliance Acct, & Senior Acct.
3 - All three of our active users are versed and in constant communication with Prophix to ensure we are effectively use the software to the best of our abilities. They must be detail orientated, patient, and organized while discussing or resolving Prophix issues.

Integrating Prophix

Integration with our ERP was seamless and timely. Our CS rep was positive, helpful and patient with our conversion process.
  • Made to Manage
Full integration with our ERP system to ensure timely and accurate reporting thru Prophix
  • File import/export
If you follow Prophix's timeline of expected processes against weekly timeline, you will be completed on time or sooner. Communication is key and with the direct communication with the rep should be error free or minimal.

Using Prophix

ProsCons
Like to use
Relatively simple
Easy to use
Well integrated
Consistent
Quick to learn
Convenient
Feel confident using
Familiar
Requires technical support
  • reporting
  • comments
  • people planning
  • import/export
  • trigger the nightly update process
  • some formulas for tables
We frequently use Prophix for all of our important business decisions based on reporting and real-time integration. We successfully communicate and engage with our reps to ensure we are using Prophix to the best of our ability.

Prophix Reliability

Our company's revenue has significantly increased as well as our goal, within 5, to double. Prophix has been able to sustain and increase our overall productivity and provide helpful hints on how to create and plan, using their platform, to increase our overall profitability.
Prophix's CS is one of the best that we communicate with. Response time is reasonable, and they can communicate via email or phone or Teams. Multiple ways to communicate and if any additional questions that they cannot answer, i am redirected to the correct individual to assist.
We have not experienced any "job stoppage" from the outage or issues from Prophix's side. If any issues, Prophix sends immediate communication regarding system outage or updates- setting the expectation for their customers.

Relationship with Prophix Software

We converted from their desktop version to cloud in a seamless transition. Their customer support tean was phenomenal and helpful. Our conversion was actually less days than originally stated when we planned the project's outline.
Customer service is always 5 star- immediate response, helpful answers and always asking for feedback on how to enhance their overall service.
Always communicate expectations right off the bat. Effective communication is always best for not only the vendor but also the development of the relationship as a whole.