Prophix Is Phenomenal For Budgeting
June 25, 2025

Prophix Is Phenomenal For Budgeting

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

Overall Satisfaction with Prophix

We use Prophix to create our yearly budget, forecast revenues and costs for our companies, and to obtain data from each of our teams into one singular platform. Prophix Software is great for managing multiple teams in our organization at once. It allows us to obtain a full data view of our company's financials and to find key areas of improvement or concern. We use Prophix daily and monthly for our monthly financial reports.

Pros

  • Fast, accurate, helpful customer service
  • Exceptional budgeting tools
  • Great for organizations of our size with many different smaller teams across the nation

Cons

  • Formula functionality and ease of use could be improved
  • Initially using the platform can be very difficult
  • Can be difficult to integrate with other platforms and to obtain data from other sources
  • Prophix has made our month end close process much faster, reducing our average close time by about 4 hours.
  • Prophix has made typically a long budgeting process much quicker and easier.
  • Prophix allows us to continue to be financially transparent with our employees.
From using Excel for a while before implementation, we have been able to keep all of our financial data organized, cleaned, and up to date much easier, more efficiently, and more accurately with Prophix's software capabilities. We no longer have to use multiple sheets and are able to distribute access accordingly, without being forced to give individuals all access as we did before.

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 think Prophix is great for medium/large - large companies. I would imagine that its software would be too much for that of a smaller company. It does a great job showcasing reports once reports are finalized and are easy to use. On the other hand, building reports can be very time consuming and confusing due to switching between tabs so often.

Prophix Feature Ratings

8.6
Long-term financial planning
8
Financial budgeting
9
Forecasting
8
Scenario modeling
8
Management reporting
10
8.6
Financial data consolidation
9
Journal entries and reports
8
Multi-currency management
7
Intercompany Eliminations
10
Minority Ownership
9
Local and consolidated reporting
10
Detailed Audit Trails
7
8.2
Financial Statement Reporting
10
Management Reporting
10
Excel-based Reporting
7
Automated board and financial reporting
7
XBRL support for regulatory filing
7
8.2
Personalized dashboards
8
Color-coded scorecards
9
KPIs
8
Cost and profitability analysis
6
Key Performance Indicator setting
10
Benchmarking with external data
8
8.3
Flat file integration
8
Excel data integration
9
Direct links to 3rd-party data sources
8
8.0
Pixel Perfect reports
7
Customizable dashboards
9
Report Formatting Templates
8
8.7
Drill-down analysis
9
Formatting capabilities
8
Report sharing and collaboration
9
9.3
Publish to PDF
9
Report Versioning
10
Report Delivery Scheduling
9
8.0
Predictive Analytics
8
8.5
Multi-User Support (named login)
9
Role-Based Security Model
8
Multiple Access Permission Levels (Create, Read, Delete)
9
Report-Level Access Control
8
9.0
Responsive Design for Web Access
9

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