Love Prophix - great tool for our business!
Updated June 17, 2024

Love Prophix - great tool for our business!

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

Overall Satisfaction with Prophix

We use Prophix for the financial reporting of multiple entities. For our primary business we also use Prophix for department level trend analysis and budget variance analysis, including stat accounts for key performance metrics. We also use it for budgeting and utilize their Detailed Planning Manager (DPM) for employee cost planning.

Pros

  • Management of entity and account hierarchies
  • Management of multiple budget scenarios
  • Planning employee costs at a detailed level

Cons

  • Moving from budget to forecast/planning versions
  • Building new reports from scratch
  • Align spreadsheet formatting with Excel
  • Increased budget accuracy for personnel costs
  • Integration with ERP has saved with month-end close and reporting
  • Starting to use Report Binders to save time
Prophix has allowed us to move the budgeting and planning for personnel costs (salaries and benefits) out of Excel by utilizing their Detailed Planning Manager. Our next task will be to transition all of our other operating expenses from Excel-based budgeting into Prophix with assistance from their customer support team.

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

I used Hyperion Financial Management at my last company. Different situation as that was a larger global organization that had been on HFM for years. Prophix is much easier to configure and implement within a smaller organization. HFM may be the gold standard in financial reporting but it's too complex for small and mid-sized companies and Prophix is a great tool for those types of businesses.
I think Prophix is great for growing companies with a small number of users. The reporting functionality has been very easy to work with as our organization has grown. We recently implemented a new ERP system, and the Prophix consultant that assisted with our integration was great to work with.

Prophix Feature Ratings

8.0
Long-term financial planning
Not Rated
Financial budgeting
9
Forecasting
7
Scenario modeling
7
Management reporting
9
8.7
Financial data consolidation
9
Journal entries and reports
Not Rated
Multi-currency management
Not Rated
Intercompany Eliminations
Not Rated
Minority Ownership
Not Rated
Local and consolidated reporting
9
Detailed Audit Trails
8
8.3
Financial Statement Reporting
10
Management Reporting
9
Excel-based Reporting
7
Automated board and financial reporting
7
7.0
Personalized dashboards
Not Rated
Color-coded scorecards
Not Rated
KPIs
7
Cost and profitability analysis
Not Rated
Key Performance Indicator setting
7
Benchmarking with external data
Not Rated
7.3
Flat file integration
7
Excel data integration
7
Direct links to 3rd-party data sources
8
BI Standard Reporting ()
Not Rated
6.0
Drill-down analysis
5
Formatting capabilities
6
Report sharing and collaboration
7
8.0
Publish to PDF
8
Report Versioning
Not Rated
Report Delivery Scheduling
Not Rated
Data Discovery and Visualization ()
Not Rated
9.0
Multi-User Support (named login)
9
Role-Based Security Model
9
Multiple Access Permission Levels (Create, Read, Delete)
9
Report-Level Access Control
9
Mobile Capabilities ()
Not Rated

Integrating Prophix

Relatively easy integration; worked with a good Prophix consultant that had experience integrating with NetSuite.
  • Netsuite
Not too challenging after understanding the relationship mapping between the two systems.
No plans to integrate any additional systems at this time.
  • File import/export
Not aware of any others.
No concerns or issues in my experience.

Comments

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