Item: Prophix
Rating: 7
Author: Verified User

Use Cases and Deployment Scope

We use Prophix for budgeting, forecasting, monthly reporting, people planning, cash flow planning. Prophix enables us to have a one stop solution for all things finance. It has allowed us to customize planning and reporting and is more efficient than prior products we have used.

Pros and Cons

flexible set up of cubes and personnel planning
friendly people and good customer service
solid performance and limited down time

Version control; there are issues using the same budget version in multiple years if adding detail (line item detail). What Prophix has explained as a benefit is a huge detriment for us and we've been working with them for 6 months on a fix and it's yet to get resolved
There are certain aspects that a messy; within our budgeting and forecasting detail, we have "unexplained balance" lines that show up that are distracting and add no value.
Lack of a centralized location for content outside of tool; for example, training, help, support, intranet, etc are all separate websites and not easy to get to. I'm not sure why all of this isn't linked to the same account and accessible through the tool. Why should we need separate passwords for everything Prophix?!

Return on Investment

greater detail for budgeting and forecasting
automated reporting
one stop source for all things planning and reporting

Annual Budget Planning

we used Excel a lot less for our most recent budget. The biggest benefit was seen with personnel planning which is easy to use, yet very customizable. It would be very challenging for us to budget headcount in Excel given our structure.

Key Insights

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?

Would you buy Prophix again?

Yes

Other Software Used

Aderant Expert

Likelihood to Recommend

Prophix is a flexible tool and the people are friendly. From the outset, I've felt that they genuinely have my interests in mind. I didn't feel rushed to make a decision, like some other vendors. However, the team is slow to respond/innovate on issues and I've wasted time in many areas. We have received bad advice on numerous occasions, leading us to rebuild certain components. For example, it was communicated to us we could budget in USD but that turned into a huge headache when we had to redo several thousand lines of budget into the correct local currency.

The product interfaces well with our ERP, however structure changes (new dept, office, etc) are not automated and require constant updates within Model Manager. This can be time consuming and create differences when actuals are pushed from the ERP if a change is not updated in Prophix.

Reporting is customizable and fairly easy to use.

Flexible Product and Friendly People with Room to Improve

Overall Satisfaction with Prophix