Prophix
April 25, 2024

Prophix

Anonymous | TrustRadius Reviewer
Score 8 out of 10
Vetted Review
Verified User

Overall Satisfaction with Prophix

Financial Planning, Reporting and Distrbution.
Forecasting/Scenario Planning

Pros

  • One Centralized Dataset
  • Workflow Planning
  • Report Binder
  • Quick and Easy access to data via Ad Hoc

Cons

  • Formatting Options for visuals like Charts, especially dashboards
  • Member Tracking to see where they are used (what templatees/reports)
  • Faster Performance
  • Streamlined delivery of financial statements
  • Improved Budgeting Process
  • Better access to data
We do all our expense budgeting in Prophix, which is great as everyone is using the same template and it automatically consolidates the data and has approvals built in to the workflow. In Excel everyone was sending in different format and then consolidating it took work.
We chose Prophix because of their better service, their Canadian presence, cost and overall it seemed a better match to our needs. Workday seemed like it was for bigger companies and came at a higher cost.

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?

No

Did implementation of Prophix go as expected?

Yes

Would you buy Prophix again?

Yes

I think it is great for planning expenses, but depending on the size revenue planning may be too much. With us having over 40,000 SKUs and almost 100 stores that level is almost too much for Prophix so we keep the produce level outside and just put in the topline by store once it is prepared.

Having everyone access the financial statements on the cloud is great as we don't have to spend hours emailing each user there variation of the P&L based on their access levels. That can be all managed in Prophix. We do still use the Report Binder for official pdf statements, but need to create multiple versions due to page members needed for viewing vs distribution.

Prophix Feature Ratings

8.2
Long-term financial planning
9
Financial budgeting
9
Forecasting
8
Scenario modeling
8
Management reporting
7
Not Rated
Financial data consolidation
Not Rated
Journal entries and reports
Not Rated
Multi-currency management
Not Rated
Intercompany Eliminations
Not Rated
Minority Ownership
Not Rated
Local and consolidated reporting
Not Rated
Detailed Audit Trails
Not Rated
7.3
Financial Statement Reporting
9
Management Reporting
7
Excel-based Reporting
9
Automated board and financial reporting
4
XBRL support for regulatory filing
Not Rated
7.0
Personalized dashboards
7
Color-coded scorecards
7
KPIs
7
Cost and profitability analysis
Not Rated
Key Performance Indicator setting
Not Rated
8.5
Flat file integration
Not Rated
Excel data integration
9
Direct links to 3rd-party data sources
8
BI Standard Reporting ()
Not Rated
7.3
Drill-down analysis
8
Formatting capabilities
6
Report sharing and collaboration
8
7.0
Publish to PDF
7
Report Versioning
6
Report Delivery Scheduling
8
6.0
Predictive Analytics
6
9.0
Multi-User Support (named login)
9
Role-Based Security Model
9
Multiple Access Permission Levels (Create, Read, Delete)
9
2.0
Responsive Design for Web Access
2

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