Budgeting Process Made Easy
December 30, 2022

Budgeting Process Made Easy

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

Overall Satisfaction with Prophix

Our business problem that Prophix resolved was to make the budgeting process easier for the end user. We wanted a system that will be easy for the end user as well as provide the admin/finance dept. processes that will make for a better budgeting process. It allowed us to plan for fixed assets and headcount with confidence and it made the process easier. It also helped us get the reports out to management more quicker. What I like is that we can take any data and pivot (slice/dice) it any way we'd like. It provides us with more transparency when reporting.

Pros

  • Allocation of data based on set of given percentages
  • Fixed asset cost calculation
  • Review financials
  • Quick import of data from ERP system
  • Ease of use
  • Importing data into excel
  • Easy of building reports

Cons

  • Formatting charts in dashboards
  • Helped created a budgeting workflow which is easy to follow
  • Helped us stay on track to finish budget input timely
  • Gave us the ability to create and distribute several reports types and versions based on user needs and security.
  • Quick report turnaround after month end close
It helped us tremendously when it came to transitioning from excel based budgeting to web-based budgeting. Made for more accurate, trustworthy reporting now that it streamlined the budgeting process. It gives finance complete control and transparency into the numbers as well.

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

If you need a robust budgeting and planning tool then Prophix is right for you. From the admin side, it is very manageable and easy to learn. It does not seem that complex that without training that is provided in the Prophix Academy you will not be able to learn it. It is great for taking data that was inputted during budgeting and quickly turning around to report on it. A great tool to pivot and analyze financials as you have all the underlying detail imported from your ERP.

Prophix Feature Ratings

10.0
Long-term financial planning
Not Rated
Financial budgeting
10
Forecasting
10
Scenario modeling
Not Rated
Management reporting
10
10.0
Financial data consolidation
10
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
9.8
Financial Statement Reporting
10
Management Reporting
10
Excel-based Reporting
10
Automated board and financial reporting
9
10.0
Personalized dashboards
10
Color-coded scorecards
Not Rated
KPIs
Not Rated
Cost and profitability analysis
Not Rated
Key Performance Indicator setting
Not Rated
Benchmarking with external data
Not Rated
Not Rated
Flat file integration
Not Rated
Excel data integration
Not Rated
Direct links to 3rd-party data sources
Not Rated
BI Standard Reporting ()
Not Rated
9.3
Drill-down analysis
10
Formatting capabilities
9
Report sharing and collaboration
9
9.5
Publish to PDF
10
Report Versioning
Not Rated
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
10.0
Responsive Design for Web Access
10

Integrating Prophix

I think it went extremely well and without issues. There wasn't any issues that couldn't be resolved.
The integration was handled by our Sage X3 consultant and Prophix in-house consultants. The process went extremely well. Within days data was integrated and we were able to import financials from Sage X3 to Prophix within minutes or running a process.
  • Shopify
Possibly Shopify as our organization moves to have all of its eCommerce on the Shopify platform. We would like to have the ability to create sales reports and certain KPI's directly from Shopify data.
  • File import/export
  • Single Signon
  • API (e.g. SOAP or REST)

Prophix Support

ProsCons
Quick Resolution
Good followup
Knowledgeable team
Problems get solved
Kept well informed
No escalation required
Immediate help available
Support understands my problem
Support cares about my success
Quick Initial Response
None
We purchased the continuous success package with Prophix and we couldn't be happier. I think their consultants and very knowledgeable and try to resolve your issues every single time.
Couldn't be happier with their service.
Almost every single time I open a support ticket. But to highlight one, it would be the implementation process. The team was phenomenal, very knowledgeable and guided us step by step throughout the process. I feel I am in better place now because of the implementation.
I feel that every time we open a support ticket we resolve the issue at hand.

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