Finance Friendly To Administer And Feels Like Excel From A Reporting Standpoint
February 24, 2023

Finance Friendly To Administer And Feels Like Excel From A Reporting Standpoint

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

Overall Satisfaction with Prophix

Prophix gives us an easy-to-administer product that the finance team can control. This allows us to avoid consuming IT resources, and we can resolve issues faster and move quicker when we want to make updates or enhancements to our model or processes. We are able to easily add on to the model as we expend our business through organic growth and acquisitions. We like that we can connect data from multiple sources as we are integrating new companies.

Pros

  • Customized models
  • Reporting capabilities
  • Ease of administration

Cons

  • Service tickets
  • Allows us to close the books quickly at month end and gets results distributed
  • Support tickets are not always answered on same day which can cause delays
  • Easy of administration prevents us from relying heavily on IT
We still rely heavily on excel, but the contributor and analyzer tools have helped us more efficiently and accurately get information into the system. It also allows us to work as a team to collectively compile data with helps eliminate bottlenecks. The reporting capabilities have much of the same functionality as excel which makes it easy to use and feels familiar.

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

They are not very different from our perspective and uses.
The Prophix Analyzer is an Excel Ad In feature that gives users easy access to the financial data through Excel which makes reporting and analysis at month end quicker and easier since Excel is natural for most users. The Continuous Success Program also helps us stay engaged with continuous development for things like maintenance, building additional cubes to track Capex or Personnel, etc.

Prophix Feature Ratings

Long-term financial planning
8
Financial budgeting
8
Forecasting
8
Scenario modeling
Not Rated
Management reporting
8
Financial data consolidation
9
Journal entries and reports
9
Multi-currency management
Not Rated
Intercompany Eliminations
9
Minority Ownership
Not Rated
Local and consolidated reporting
8
Detailed Audit Trails
4
Financial Statement Reporting
7
Management Reporting
9
Excel-based Reporting
9
Automated board and financial reporting
7
Personalized dashboards
8
Color-coded scorecards
8
KPIs
8
Cost and profitability analysis
Not Rated
Key Performance Indicator setting
Not Rated
Benchmarking with external data
Not Rated
Flat file integration
9
Excel data integration
9
Direct links to 3rd-party data sources
9
Drill-down analysis
9
Formatting capabilities
9
Report sharing and collaboration
7
Publish to PDF
8
Report Versioning
8
Report Delivery Scheduling
9
Predictive Analytics
Not Rated
Multi-User Support (named login)
9
Role-Based Security Model
7
Multiple Access Permission Levels (Create, Read, Delete)
7
Responsive Design for Web Access
Not Rated

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