Prophix for Forecasting and Budgeting
June 12, 2025

Prophix for Forecasting and Budgeting

Anonymous | TrustRadius Reviewer
Score 7 out of 10
Vetted Review
Verified User

Overall Satisfaction with Prophix

We use Prophix in our organization for consolidation purposes (multiple ERP systems). This allows us to consolidate results from multiple ERP systems/account structures into a single chart of accounts. We also utilize Prophix for sales forecasting and budgeting purposes. This allows us to streamline the forecasting and budgeting process and compare multiple versions (vs budget, vs prior forecast, vs actual, etc.).

Pros

  • Consolidations
  • Forecasting
  • Budgeting

Cons

  • Ease of Integration
  • Customer / Technical Support
  • Ease of report building
  • Still evaluating ROI possibilities, not ready to comment on this quite yet.
Prophix is allowing us to go from excel based budgeting and forecasting to web-based. This allows much easier comparisons between prior versions, as well as the ability to consolidate budgets from multiple sites much easier to provide a consolidated view of forecasts and budgets.
We elected to give Prophix the initial chance given the cheaper price point and since we were already using this tool for consolidation purposes.

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

Prophix is well suited for companies that want the flexibility to build reporting and or forecasting/budgeting from scratch, as there is a lot of flexibility with the tool in ad-hoc reporting and analysis. However, the initial setup has been difficult in my experience, and there are not much "out of the box" functionality - it must be built and customized to your specific needs.

Prophix Feature Ratings

Long-term financial planning
7
Financial budgeting
8
Forecasting
8
Scenario modeling
9
Management reporting
5
Financial data consolidation
7
Journal entries and reports
Not Rated
Multi-currency management
Not Rated
Intercompany Eliminations
5
Minority Ownership
Not Rated
Local and consolidated reporting
8
Detailed Audit Trails
2
Financial Statement Reporting
7
Management Reporting
3
Excel-based Reporting
6
Automated board and financial reporting
4
XBRL support for regulatory filing
Not Rated
Personalized dashboards
7
Color-coded scorecards
7
KPIs
2
Cost and profitability analysis
7
Key Performance Indicator setting
6
Benchmarking with external data
5
Flat file integration
7
Excel data integration
7
Direct links to 3rd-party data sources
6
Pixel Perfect reports
1
Customizable dashboards
1
Report Formatting Templates
1
Drill-down analysis
7
Formatting capabilities
3
Report sharing and collaboration
6
Publish to PDF
9
Report Versioning
8
Report Delivery Scheduling
9
Predictive Analytics
1
Multi-User Support (named login)
10
Role-Based Security Model
9
Multiple Access Permission Levels (Create, Read, Delete)
10
Report-Level Access Control
10
Responsive Design for Web Access
Not Rated

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