Prophix Reviews

Overall: Overall it has gone very well. I have learned a lot. The customer service has been sincere and helpful. Data integration is daily and report consolidation is easy to do.

Pros: The consultation and training was excellent. The data management is simple and effective. Easy to browse from different modules and pages. The knowledge bank is large and there is a large customer resource pool.

Cons: Some of the graphs and charts have limited accessories and capabilities. Learning curve was high, but this may be the nature of the software.

Alternatives Considered: Planning Maestro, Limelight and Vena

Reasons for Choosing Prophix: Larger customer reference pool. Confidence based on size and history of the company.

Overall: it met all of our needs and is a great software

Pros: its very flexible and provided what we needed

Cons: sometimes it can be a little slow and has crashed in the past

Overall: Prophix is the best planning and expense analysis software I have seen. It has allowed me to streamline so many processes. This company also provides excellent training so that we have the ability to control the software and create whatever is needed. The consultants are knowledgeable and have helped us to customize the system to our company.

Pros: The Prophix Software is very versatile, starting with it creating a web-based platform. This was important for our company and allows the software to be updated quarterly without issue. We are able to use Prophix for Expense tracking, Expense and Capital planning, reforecasting, Compensation planning, Project tracking, Expense allocation, GAAP PLOB reporting, and still have several more tasks to implement through Prophix. The data can be sliced and diced many ways, and each user is able to do it however they like. It is easy to create or run existing reports. We have made many of our processes more efficient, and Prophix has allowed us to save more time than you can imagine. The software is easy to use and visually outstanding. The Prophix consultants were patient and supremely knowledgeable, personalizing and customizing the software to our company's needs.

Cons: There are so many options within Prophix that at times, it can be overwhelming. I think it's necessary to have a few Admin to create reports and assist users, so that the users do not have to know how to use everything.

Reasons for Choosing Prophix: Usability, consultant knowledge, customized demos, price

Reasons for Switching to Prophix: The budgeting process with BPC was choppy and unstable. We lost our budget input data several times without even being in the system. It was difficult to train users on and the time to update and save the budget sheets was incredibly painful. The BPC consultants promised us a customized software package and then left us hanging with a useless product.

Overall: Budgeting, forecasting, reporting and consolidation across global user base. We have several systems across multiple entities and we utilize Prophix to consolidate and report out of at the global level.

Pros: Our experience with Prophix has been very favorable. We were looking for a tool to centralize our global financial reporting and planning functions and Prophix allowed us to accomplish this at a very reasonable cost vs other applications that were under consideration. The interface is intuitive and easy for end users to complete the required tasks. The web client satisfied our need for a solution that could be implemented globally.We are also able to administer and maintain the tool within the finance function which increased our flexibility and reduced our reliance on IT. The reporting capabilities met our needs and allows us to easily consolidate and present our data in a multi currency environment. We use Prophix for reporting at all levels, from individual business unit data to Board and Executive level reports. We have several connections to other systems to import data and plan on adding more. The drill through capability to this data is also a nice feature.

Cons: Template/Report formatting can be tedious at times

Reasons for Choosing Prophix: Good functionality at a great price.

Pros: It is intuitive and easy to use. If you're familiar with excel, most of the functions carry over flawlessly.

Cons: Connecting more than 20 ERP systems to import data was a challenge. It affected the overall performance and ultimately usage as my company has not fully been able to convert to the cloud version. The administrator is still managing the Smart Client.

Reasons for Choosing Prophix: Prophix Cloud was choosen to upgrade our current Smart Client. The implementation team wasn't clear about what areas we would lose once migrating to cloud, specifically when creating charts.

Overall: We have had a very good experience with Prophix. We were very reliant on Excel spreadsheets for Financial reports and budgeting. That is not the case now. Prophix has freed us from that. As we have learned more about the system we are able to develop other ways to use it besides reporting and budgeting.

Pros: Prophix has allowed us to have one source of truth for our Financial reports, our budget and forecast process. It has allowed us to get more people involved in the budget and forecast process while making it easier share information among participates.

Cons: I am not an IT guy so understanding the data connections has been a bit challenging. We get IT involved but I know they have other projects so getting it completed in a timely manner can be a challenge.

Reasons for Choosing Prophix: I was not with the company when the decision was made so not sure who else the Company looked at.

Overall: I've had a fantastic experience with Prophix. Their engagement with the organisation, the structure to their implementation process and the online and offline support has been impressive. They empower the organisation to skill up to manage their own development and ability to evolve the platform so I feel excited about taking it forward. I also find their roadmap impressive, in that they are already thinking and planning some great developments for the future

Pros: Its ability to adapt and handle our non financial data without feeling like we were compromising , its logic and the transparency of the system (I am seperate to those within our organisation who have completed the implementation of our financial data-my focus is on the non financial operational data and measures)

Cons: For the operational data we opted for a flat file approach to integrating our data onto this platform so there was a lot of importing and exporting, however this was the best solution for us based on the format of our source data. We have spent a lot of time working on the structure, bringing in of data and creating the appropriate reports but I strongly believe the system is as good as the time you invest into its development for your organisation. It will be as good as what you put into it.

Overall: Currently we do Financial planning and consolidation of our budget, Internal operational reporting and analysis and personnel budgeting within Prophix. Prophix has help us with better business partner during our budgeting process through there workflow and template process, which are great and easy to use.

Pros: The tool is very flexible for customizing the software to our business needs and even if we need to rebuild the structures and data cubes. The experienced Prophix consultants are a pleasure to work with and very knowledgeable.

Cons: Dashboard aspects is still a little weak

Reasons for Choosing Prophix: - easy of use - easier implementation - superior technology

Overall: My experience has been so much better than expected. We have reduced our budget cycle by 2 1/2 months, that's just one example!

Pros: The time savings we've been able to achieve as well as the consistency of reporting.

Cons: That I can't have one report workbook (like an excel file with tabs) to work in. You have to create a workbook process to combine it.

Reasons for Choosing Prophix: Cost vs benefit

Overall: Prophix has improved our monthly and annual processes with one true source; the Prophix support team has been instrumental in teaching every step of the way with professionalism and patience.

Pros: We primarily needed a budget that didn't require Excel spreadsheets being sent and complied in hopes nobody added a column or row! Not only are we able to all share the input of budget data, but we have comments, details, and a history of who did what! As a bonus, we were able to create all of our monthly financial reports in Prophix and automatically generate them into a PDF or in Excel! A nightly process that can also be run on-demand imports the GL details from GP, so we can review within minutes!

Cons: There is definitely a learning curve, but once you understand it, creating reports and viewing ad hoc details gets easier.

Pros: Prophix is a great software that is very multifunctional. You can use it for many different applications and design it to be as complicated or simple as your needs dictate. Our installation uses a function labeled Relational Data Views and allows users to drill into a total on a P&L and view the transactions from the GL system that make up the balance. This frees up Accounting from answering simple questions and allows the users to contact us less frequently.

Cons: Prophix does a great job on listening to users. We have located minor issues\bugs in the past but they are receptive to feedback. They also have a feedback forum for enhancement requests and users get to vote on each other's ideas.

Recommendations to other buyers: Pay attention to the amount of IT resources that are required for the different vendors. Most aspects of Prophix are maintained by an admin in the finance department which works well in our company.

Overall: Prophix has been great for budgeting and projection financials. It allows for easy insight into the general ledger data which has reduced my time spent piecing together information from multiple systems/sources.

Pros: I like how easy it was to grasp the basics of this software. Without being an expert I still feel that I am capable of getting the information I need and continuing to learn the system intuitively.

Cons: Some features of the software are a little more challenging to pick up and understand without adequate training.

Pros: Great for budgeting and forecasting. You can set up different templates to budget and forecast and other users can enter their values. Limits user access to certain areas. Has a personnel planning feature that eases the budgeting process for all wages, taxes, and benefits. Has a good reporting feature and interacts with your accounting software to import info with ease.

Cons: If you need to upgrade or make a large change you have to ask for support from Prophix and they aren't always easy to work with or quick to fix major issues. The reporting feature requires a lot of manual steps to set up new reports. It isn't super user friendly if you don't use it on a regular basis.

Pros: I like the simplicity that Prophix brings to its software. Building on OLAP cube technology, data can be sliced and diced as much as you like. They have an outstanding product feedback function, where users can request enhancements to the tool. In fact, many of the enhancements are customer driven. Total cost of ownership is low, including initial price point.

Cons: There isn't much I don't like about the software - the full control that the Finance team exhibits on the software keeps frustrations to a minimum.

Recommendations to other buyers: Do your homework - make sure that the finance department maintains control of the software and programming. Some tools need IT resources to program reports and analyze data - that was not something I was interested in.

Pros: I really like the ease of use of this product. Makes it easy to train a new user on how to get information.

Cons: There are many limitations to using this product as far as formatting and amount of info used in a single report.

Overall: overall it is a good reporting and budgeting tool

Pros: automate business process such as global royalty allocations

Cons: performance issue with MDX or other complicate calculating

Overall: So far Prophix has been great and easy to use.

Pros: The ease of use of ad hoc reporting is great. I also like that you can build templates and reports that are frequently used to save time

Cons: The cloud implementation was not as smooth as expected