Prophix has been perfect for our business!
Updated August 23, 2024

Prophix has been perfect for our business!

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

Overall Satisfaction with Prophix

We are in the manufacturing industry and have several different subsidiaries that are overseas. Prophix allows us to completely integrate these subsidiaries into our financial package at the end of the month. This is tremendously helpful as it allows us to save so much time with manual entry and manually combining reports out of our ERP system. We are so thankful for Prophix and what they have done for our organization. The automation is fantastic and saves so much time.

Pros

  • Integration of data from ERP to Prophix
  • Ability to find single data points quickly.
  • Ability to consolidate different subsidiaries across different currencies.
  • Automation, automating sending out reports.

Cons

  • Further ability to organize files and folders in document explorer
  • Streamlined month end reporting on the 5th business day
  • More participation of stakeholders within and outside organization through different reports
  • More clear and concise data
  • Faster close due to automation.
We originally did our budgeting in excel and would have different excel sheets for each budget holder for them to fill out and make changes. This was terrible as it was consistently being emailed back and forth and the versions got mixed up. Once switching to Prophix, we were able to use workflows to allow budget holders to fill in their budget and submit directly to the finance department.
Prophix is much more advanced and has more capabilities to Quickbooks. It is more flexible, agile, and creative than these softwares. The automation is really what sets it apart from these type of software. Integrating directly with our ERP is something that is enormously helpful.

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 believe that Prophix is appropriate for those organizations that want better budgeting and reporting. The reporting and budgeting features in Prophix allows for customizable reports, automation, email notifications and more. It is perfect for middle market companies that are looking to integrate with their ERP system to provide better reports to their stakeholders.

Prophix Feature Ratings

10.0
Long-term financial planning
10
Financial budgeting
10
Forecasting
10
Scenario modeling
10
Management reporting
10
10.0
Financial data consolidation
10
Multi-currency management
10
Intercompany Eliminations
10
Minority Ownership
10
Local and consolidated reporting
10
Detailed Audit Trails
10
10.0
Financial Statement Reporting
10
Management Reporting
10
Excel-based Reporting
10
Automated board and financial reporting
10
XBRL support for regulatory filing
10
10.0
Personalized dashboards
10
Color-coded scorecards
10
KPIs
10
Cost and profitability analysis
10
Key Performance Indicator setting
10
Benchmarking with external data
10
10.0
Flat file integration
10
Excel data integration
10
Direct links to 3rd-party data sources
10
10.0
Pixel Perfect reports
10
Customizable dashboards
10
Report Formatting Templates
10
10.0
Drill-down analysis
10
Formatting capabilities
10
Report sharing and collaboration
10
10.0
Publish to PDF
10
Report Versioning
10
Report Delivery Scheduling
10
10.0
Predictive Analytics
10
10.0
Multi-User Support (named login)
10
Role-Based Security Model
10
Multiple Access Permission Levels (Create, Read, Delete)
10
Report-Level Access Control
10
8.0
Responsive Design for Web Access
8

Using Prophix

Yes we have, we regularly use these features. The workflow feature combined with the Prophix contributor makes budget season a breeze. Our budget holders get to work in the comfort of Excel, but once they submit their data it gets pushed directly into our cube right from Excel. This enhanced collaboration greatly.
Yes, we have completely automated our financial reporting package. This includes detailed breakdowns of department expenses, profit and loss, balance sheet, cash flow, gross margin reports, etc. We arent concerned when we make small changes, as we know we dont have to completely redo the reports every time. Thanks prophix!
20 - Most are managers of their respective departments as well as all of the finance employees have access to the software. Our accountants mostly use the software as well as our head of finance.
3 - We have three global administrators. Two of them are in finance and one is in IT. Their role is to communicate with Prophix's customer service when something needs attention and continually keep up on the reports.

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