Prophix One Financial Performance Platform
Prophix SoftwareReviews from AWS customer
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Prophix
What do you like best about the product?
A very friendly reporting software that can easily be interfaced with other accounting systems.
What do you dislike about the product?
Budgeting personnel is a little bit complicated and there needs to be more time to understand it.
What problems is the product solving and how is that benefiting you?
Reporting, Budgeting
Recommendations to others considering the product:
I strongly recommend Prophix to others to be able to utilize all such great features of Management Reporting, Month-end closing, Budgeting.
Steep learning curve, but worth the effort!
What do you like best about the product?
The program provides countless ways to slice your data for deep data analysis. Report building functions also save the user time compared to performing the same functions within Excel.
What do you dislike about the product?
The learning curve is quite steep and it helps to have some background in IT to fully realize the potential of the software. Large account structures also have a tendency to make the program run a little slower (we use over 7000 accounts). Once it clicks though, the opportunities are endless!
What problems is the product solving and how is that benefiting you?
We have used the software mostly for the budget process and financial reporting both internally and externally. It has been a huge time saver since implementation.
Prophix is a perfect solution for our organization
What do you like best about the product?
Flexibility and Performance: It is flexible enough to pull data from multiple sources in minutes. With several years of data imported, the software performance has remained stable and fast.
Ease of Use: Prophix is easy to use, ramp up time is minimal and the learning curve is short compared to other products I have used.
Support and Innovation: Prophix has a great feedback loop with its customers. They are continuously improving the product. The support response time is fast and the staff is knowledgeable.
Finally, Prophix meets our financial reporting needs. We use it for personnel planning, budgeting and forecasting, and financial statement preparation.
Ease of Use: Prophix is easy to use, ramp up time is minimal and the learning curve is short compared to other products I have used.
Support and Innovation: Prophix has a great feedback loop with its customers. They are continuously improving the product. The support response time is fast and the staff is knowledgeable.
Finally, Prophix meets our financial reporting needs. We use it for personnel planning, budgeting and forecasting, and financial statement preparation.
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?
We could not see all of our data in one place. Prophix provides us with a single source of the truth. Using Prophix gives us the ability to analyze revenue and cost by revenue stream, department, account, etc. We can basically slice and dice data any way we want to.
We were spending days generating financial statements copying and pasting data into Excel spreadsheets over and over again. With Prophix, that time has decreased to hours.
We were spending a lot of wasted time during the budgeting process re-iterating versions in Excel spreadsheets that were prone to errors. With Prophix, that time has decreased significantly.
We can pull P&L data and Balance Sheet data into one report. Being able to pull KPI's from both reports gives us an opportunity to look at a snapshot of our financial position in a unique way.
We were spending days generating financial statements copying and pasting data into Excel spreadsheets over and over again. With Prophix, that time has decreased to hours.
We were spending a lot of wasted time during the budgeting process re-iterating versions in Excel spreadsheets that were prone to errors. With Prophix, that time has decreased significantly.
We can pull P&L data and Balance Sheet data into one report. Being able to pull KPI's from both reports gives us an opportunity to look at a snapshot of our financial position in a unique way.
Recommendations to others considering the product:
Prophix, as a vendor, is great partner with. The software is superior to other products I have used at previous organizations. I do not want to imagine a world where I could not use Prophix.
Off to a Great Start
What do you like best about the product?
The flexibility and ability to create financial and non financial cubes for a complete KPI outlook on one platform.
What do you dislike about the product?
Nothing yet. Do to internal resources we have been slower to fully deploy, but the Prophix team has been very supportive and helpful along the way.
What problems is the product solving and how is that benefiting you?
Ability to Dashboard and present KPI's without having one individual compile the data manually. We have been able to automate the data coming into Prophix from 4 other software packages.
Flexible and easy to adminster CPM
What do you like best about the product?
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.
What do you dislike about the product?
Template/Report formatting can be quirky, but this seems to improve with new releases/updates. Template creation/updating can be challenging if you need to include multiple data views. It would be better if there were formulas that could point to specific intersections in the database like some other applications.
What problems is the product solving and how is that benefiting you?
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.
Consolidation Made Easy
What do you like best about the product?
We used to consolidate all of our financials for 20+ agencies using excel and it was a nightmare. After using Prophix we have been able to reduce errors, improve reporting, and be more analytical. The latest commentary functionality allows us to exclusively use Prophix for our forecasting and analytics.
What do you dislike about the product?
Report building can be difficult at times, especially when creating large reports with multiple data views.
What problems is the product solving and how is that benefiting you?
Consolidations, Client P&L reporting, Budgeting/Forecasting, Financial Analysis, and many more.
Recommendations to others considering the product:
If you are looking for a software that can be run without constant IT support this is the product for you.
Excited for next steps
What do you like best about the product?
The DPM model allows deeper dives into budgeting and allows for more complete models.
What do you dislike about the product?
The hierarchy can be confusing within first year.
What problems is the product solving and how is that benefiting you?
We were attempting to solve our commissions calculations,
Flexible software which allows for more accountability and cross function budgeting.
What do you like best about the product?
I love the flexibility of the software and being able to design it to meet any need for the company.
The Dashboarding feature has really helped our end users to adopt the software during non budgeting seasons. They are discovering what the tool can do for them.
The Dashboarding feature has really helped our end users to adopt the software during non budgeting seasons. They are discovering what the tool can do for them.
What do you dislike about the product?
Motivating my end users to be excited about the product and not revert back to old ways of doing things. At times the reports can take a lot of time to open.
What problems is the product solving and how is that benefiting you?
Our Finance Department is now able to get accurate information on a timely basis to anyone who asks for data and/or reports. We have realized many benefits including the available for more analysis time and at the same time, working less hours. The biggest benefit has been wage analysis. Salaries are out biggest expense and prior to Prophix, we really did not have an accurate way to really dig into wages in a timely manner.
We have also been able to branch out into assisting our operational directors. Example - our clinical program was creating a very cumbersome productivity report. I worked with our IT department to get me the data that we need and then upload it into Prophix. The program is extremely happy with this new report!
We have also been able to branch out into assisting our operational directors. Example - our clinical program was creating a very cumbersome productivity report. I worked with our IT department to get me the data that we need and then upload it into Prophix. The program is extremely happy with this new report!
Recommendations to others considering the product:
If you are looking for a dynamic tool to help you with your Budgeting and month end duties, look at Prophix!
Great Budgeting and Reporting Software
What do you like best about the product?
Working with the Prophix team. They are always willing to go the extra mile to answer questions and make sure that you have success with their product. Calls are always returned in a timely manner. If necessary, they successfully escalate questions up their chain of command to make sure that you receive the information you need.
Our company's budgeting and reporting needs have been fully met with Prophix. The templates allow for quick monthly report generation and the ease of exporting the reports into Excel allow for reporting to employees and clients who do not have Prophix. Ad hoc analysis allows for flexible financial analysis and Template Studio gives us the means to create more polished reports.
Our company's budgeting and reporting needs have been fully met with Prophix. The templates allow for quick monthly report generation and the ease of exporting the reports into Excel allow for reporting to employees and clients who do not have Prophix. Ad hoc analysis allows for flexible financial analysis and Template Studio gives us the means to create more polished reports.
What do you dislike about the product?
Implementation was a challenge for us and took longer than we had anticipated. When new people from Prophix were assigned to our project, they weren't up to speed which slowed the process down. That being said - they never gave up! The employees and management were dedicated to ensuring a positive outcome for us even when the implementation got very complicated due to a quirk in our version of QuickBooks.
What problems is the product solving and how is that benefiting you?
Our reporting capabilities have increased exponentially. We are able to generate budget analysis reports for each of our many projects separately or as a whole for the company. This was the primary endpoint for us as we had previously relied heavily on generating reports in Excel which took entirely too much time from our staff to update. With Prophix, we have real-time reporting with just a few key-strokes.
Recommendations to others considering the product:
If you are using the time function in QuickBooks, ask your consultant to see if your version of QuickBooks will integrate successfully into Prophix.
Very flexible and easy to use.
What do you like best about the product?
We were able to create reporting using multiple sources for our data (2 ERPs, Payroll, Spreadsheets).
What do you dislike about the product?
My lack of time to work with Prophix . There are so many projects that I could do to make life easier and more clear for many areas of our business.
What problems is the product solving and how is that benefiting you?
Consolidation of many sources of data have made our reports easier to prepare, uniform in appearance, and easier to disseminate.
Recommendations to others considering the product:
If you don't have someone with Prophix experience use their consulting team. I have been really happy with the level of support we have gotten.
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