Prophix One Financial Performance Platform
Prophix SoftwareReviews from AWS customer
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Powerfull reporting tull integrated with Excel
What do you like best about the product?
I like the fact that Prophix data can be rather easily imported/ exported from Excel, and the fact that the templates within Prophix allow for similar functionality as Excel, e.g. formatting, ability to add formulae. I also like the ability to schedule periodic reporting communication to individuals or groups.
What do you dislike about the product?
Some of the forms of support require additional payments even for those who purchase the Continued Success package. For example, I was not able to attend the live trainings in NYC because they would cost extra.
What problems is the product solving and how is that benefiting you?
We use Prophix for financial reporting and forecasting.
Great Product!
What do you like best about the product?
How dynamic the system is. It's very easy to access.
What do you dislike about the product?
Nothing! The system works great and has changed the way we analyze our busines
What problems is the product solving and how is that benefiting you?
Budgeting and forecasting has been the biggest one. We streamlined several processes and cut the budgeting timeline in more than half.
prophix
What do you like best about the product?
ease of seeing data in ad hoc
ease of creating reports
ease of creating reports
What do you dislike about the product?
cannot copy headings in ad hoc
template studio functionalities not yet excel compatible
template studio functionalities not yet excel compatible
What problems is the product solving and how is that benefiting you?
The ease of changing prophix report formats vs changing source system report format is hugely beneficial as we do not have to rely on IT to make the change.
We created prophix reports to replace manual excel reports.
We created prophix reports to replace manual excel reports.
Great, easy to use product
What do you like best about the product?
It's so easy to set up data connections to integrate data from multiple systems to create our consolidated financials.
What do you dislike about the product?
Cannot edit dimension setup after a cube is created.
What problems is the product solving and how is that benefiting you?
Consolidated financials for multiple entities, budgeting and planning. We have eliminated many manual reports in Excel.
By Finance for Finance
What do you like best about the product?
I like the graphical interface and how easy it makes otherwise complicated process like allocating costs. The Ad-hoc environment has greatly increased our ability to investigate variances and drill into reasons for certain financial results.
What do you dislike about the product?
At times performance can lag. There are usually workarounds, but it's still inconvenient having to resort to a workaround.
What problems is the product solving and how is that benefiting you?
We've been able to budget at a more detailed level, but spend less time doing so. The quality of our variance explanations have also greatly increased. We're using those time savings to automate more of our forecasting process and provide insights to the operations teams.
Life is easier with Prophix
What do you like best about the product?
I like the workflows, business processes and report function. Prior to our experience with Prophix we did everything in Excel. Now we spend only 1/4 of our time in Excel.
What do you dislike about the product?
I don't use some of the functions like SmartMonitor Reporting. Also, a couple of frustrations is that you can only run one business process at the time and if you are updating the dimensions your users could get an error. This doesn't happen often, but it causes confusion.
What problems is the product solving and how is that benefiting you?
We original bought Prophix so that we could stop creating our monthly financials package that would take several days to put together. Now it takes about 30 minutes to update. We now forecast expenses, revenue, capital, and headcount using Prophix.
Recommendations to others considering the product:
That if you use Prophix for any sort of budgeting and putting together the financial statements it will save you time. But, you need to use the workflows, business reports and Template Studio to accomplish it all. Once you set it up, your time will be cut by 75%. Mistakes will go away with the automation.
Great tool for managers to manage their spending!
What do you like best about the product?
Prophix is a very user friendly application that has the simple look and feel of a spreadsheet that most managers are familiar with. However, it's powerful enough to allow budgeting at a very detailed level by multiple managers and in the end we can easily pull all of it together to the executive level. And I absolutely love how financial administrative users can control the setups and report creations without having to go through our IT department.
What do you dislike about the product?
What I dislike the most about Prophix is the time it takes to load some of my reports. It's a SQL query based application and depending on the database size, some of the reports and processes can take some time to run.
What problems is the product solving and how is that benefiting you?
We use Prophix mainly to prepare our budgets, create our interim financials, and manage financial result variances from budget. We started out with just a handful of users involved in our budgeting and financial analysis process to now over 40 users with still more managers requesting for access. We have also found other uses for Prophix like creating our quarterly debt compliance certificates to our banks and creating various reports for our financial auditors, for example: long-term debt schedules and 990 functional expense allocations.
Recommendations to others considering the product:
If you can dedicate 1-2 members of your finance team to really get to know how to use Prophix, you can do wonders in equipping your non-finance managers with information and data to do their job with excellence.
Senior Financial Analyst with 2 years of Prophix experience
What do you like best about the product?
I like the ability to quickly pull sales and cost data at both high level (customer/program) and low level (customer/part number). This very useful as I work with numerous sales people who frequently ask for customer data.
What do you dislike about the product?
The time it takes to run cube updates and our overall refresh process is significant. We recently eliminated numerous steps, but the refresh process still takes about 40 minutes to run. This is an improvement form the hour and 15 minutes it previously took. The length of time this takes to run can cause issues during month-end close when we have people trying to run refreshes on our finance cube and they have to wait if I am running a refresh on our sales cube.
What problems is the product solving and how is that benefiting you?
Better forecasting by allowing individuals to load their sales forecast directly into the system and receive real-time feedback.
Great product with excellent customer service
What do you like best about the product?
It took our excel based model and removed all of the barriers of excel while adding all the benefits of a software package. It is easy to learn, use and administer. Prophix's customer service is top notch and answers questions very quickly.
What do you dislike about the product?
Compared to our old excel based way of doing things, nothing. We are not currently using web client but will be so shortly once all the features are available.
What problems is the product solving and how is that benefiting you?
Shorter planning cycles, monthly forecasting, electronic Budget versus Actuals reports with workflow for automatic tracking.
Flexible tool that brings efficiency in reporting and budgeting
What do you like best about the product?
Prophix is easy to use and flexible that alloys to create financial reports in short time.
We use mainly Prophix for budgeting and Financial Reporting, but we created templates to help our accounting team with quarterly adjustment entries.
Pulling data from adhoc is easy, simple and fast.
We use mainly Prophix for budgeting and Financial Reporting, but we created templates to help our accounting team with quarterly adjustment entries.
Pulling data from adhoc is easy, simple and fast.
What do you dislike about the product?
There is nothing that I dislike about Prophix.
What problems is the product solving and how is that benefiting you?
Budgeting was manually done in excel, Prophix has brought a more efficient and accurate Budget as well as giving us the opportunity to create Financial reports faster.
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