Prophix One Financial Performance Platform
Prophix SoftwareReviews from AWS customer
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Great forecasting & reporting tool
What do you like best about the product?
Prophix is quick to implement and can be maintained with little IT support
What do you dislike about the product?
Template Studio reporting building is good, but wish it had more excel like functionality
What problems is the product solving and how is that benefiting you?
Ease of forecasting and analyzing data
Exciting Opportunities!
What do you like best about the product?
The flexibility of Prophix software. We are able to customize the software to our specific business needs. You do not need to be a tech expert to create processes/templates. Anyone can do it!!
What do you dislike about the product?
I am not a fan of the new web version of Prophix. The interface requires more clicking causing it to take longer to use.
What problems is the product solving and how is that benefiting you?
Prophix has allowed us to connect to our data tables in the background. By doing this, we were able to create dynamic and user friendly interfaces for pulling the data. Additionally, we have implemented Prophix as our primary projection tool. What we were unable to do it excel previously due to the large amount of data, we could build Prophix. We are also able report our results efficiently and dynamically because the data can be pulled using Ad-Hoc rather than trying to tie together many excel sheets.
Very useful program with minor limitations
What do you like best about the product?
I love that there is so much automation available. We do a lot of monthly reporting and it is great to be able to set things up to be distributed automatically. We also find the ad hoc analysis to be very useful on a daily basis. Added comments to reports had also been a huge help for us.
What do you dislike about the product?
Template building can be a bit complicated, we do a lot of complex reporting and it can be challenging at times to get the results that we need. Also, formatting of the templates could be better.
What problems is the product solving and how is that benefiting you?
We have streamlined our monthly reporting using report binders and process manager. We have been able to significantly cut down the time we spend on manual processes and report distribution.
Nice product - much better than predecessor, but still some limitations
What do you like best about the product?
Nice interface. Easy to use. Good customer support team. Great online resources to get you going and help you explain the tools to other users,
*LOVE* Prophix for Excel as a really easy way to bridge the gap between new and old methods of budgeting in the transition phase.
*LOVE* Prophix for Excel as a really easy way to bridge the gap between new and old methods of budgeting in the transition phase.
What do you dislike about the product?
Some learning curve - mainly due to complications in our business and oddities in how we want to do things. WE do have LOTS of calculations and found Standard Calcs caused poor performance.
Would like to see a good training manual for the product, but presumably they want to come onsite and train everyone - note we did some onsite training, but I still need to be able to train new staff members, which is challenging,
Would like to see a good training manual for the product, but presumably they want to come onsite and train everyone - note we did some onsite training, but I still need to be able to train new staff members, which is challenging,
What problems is the product solving and how is that benefiting you?
Roll up and presentation of annual budgets consistently and correctly, vs old system which would misrepresent the numbers.
Streamline a complicated budgeting process - making sure there is only one version of the truth.
Streamline a complicated budgeting process - making sure there is only one version of the truth.
Recommendations to others considering the product:
Take the time to think ahead - many steps tahe far more effort to go back and correct than they take to get them right the first time. Listen to the Prophix team, but know your own business and needs, and don't be afraid to advocate for yourself.
Financial Consolidations Made Eaisier
What do you like best about the product?
Ease of Use and Overall Processing Speed
What do you dislike about the product?
At the present time, there really isn't anything I dislike about the software
What problems is the product solving and how is that benefiting you?
Financial Consolidations using Multiple Currencies
Recommendations to others considering the product:
We currently operate in 8 foreign countries and are adding another two this quarter. Prophix allows us to quickly perform our financial consolidations (including several levels of inter-company eliminations) on a monthly basis.
Great CPM Tool
What do you like best about the product?
This is a highly flexible tool for ad hoc reporting! Our implementation was flawless with very professional consultants. Great for financial report to start and determine future needs once you are familiar with how Prophix works.
What do you dislike about the product?
There is not really anything I dislike about the product. You can do just about anything with it.
What problems is the product solving and how is that benefiting you?
Consolidated Financial reporting, Sales reporting, Dashboarding in the future..
Recommendations to others considering the product:
I highly recommend it! A great "One Source of the Truth" software.
Dynamic budgeting - Limited Data Analysis
What do you like best about the product?
The ability to drill across to the SQL server has saved our company a lot of time and hassle. The ability to move our budget process from excel documents to Prophix has reduced errors, shortened the timeline and increased transparency in our budgets. The ad hoc reporting has become much more dynamic and
What do you dislike about the product?
There is very limited excel functionality, and there is also no ability to view actual expenses in comparison to the line item detail level that they are budgeted on. This makes it a lot harder and time consuming to analyze variances.
What problems is the product solving and how is that benefiting you?
We were using excel in SharePoint before Prophix for budgeting and forecasting, so we saved on time, sanity, and put more responsibility on budget owners. Our budgets are much more manageable, accessible and detailed.
Recommendations to others considering the product:
Ask specific questions about excel functionality, ability to print from the program and ability to view expense/budget details in the same location.
Useful and cost effective CPM Solution
What do you like best about the product?
I love the flexibility of the software, the OLAP functionality allows for me to slice and dice my data however I need. Prophix is my one stop shop for financial reporting, budgeting, forecasting and analysis. We also use Prophix for our financial consolidation, much of which is automated. We completely ignore the budgeting and reporting capabilities of our ERP as Prophix is a much better tool.
Prophix has a great user community, and they provide a mechanism to provide customer feedback - many of their new product ideas come right from the users. Their customer support team is very responsive, and are willing to do quite a bit of help without charging - this is very well received, as we have seen other software (like our ERP) charge for exploring issues in our system.
Prophix has a great user community, and they provide a mechanism to provide customer feedback - many of their new product ideas come right from the users. Their customer support team is very responsive, and are willing to do quite a bit of help without charging - this is very well received, as we have seen other software (like our ERP) charge for exploring issues in our system.
What do you dislike about the product?
When analysis needs to be performed at a very detailed level, we do not use Prophix, we use a standalone BI tool. We find that Prophix is best utilized with summarized data (by product, market, customer, etc.) not at the transaction level.
What problems is the product solving and how is that benefiting you?
Financial Reporting, Budgeting and Forecasting, Financial Analysis, Financial Consolidation, and personnel planning are all done in Prophix. We have automated all of our financial reports in Prophix - we utilize automated distribution of all of our financial reports, and have automated much of our special reporting as well. Specifically, we have automated our product mix reporting, product variance reporting, pricing analysis in Prophix.
Recommendations to others considering the product:
This is a great tool, use it's capabilities to challenge how you do things. Utilize the consultant's expertise to improve your processes as you implement.
Prophix CPM
What do you like best about the product?
Transparency of financial information and flexibity
What do you dislike about the product?
Sometimes processing is slow and there is no ability to add dimensions once set
What problems is the product solving and how is that benefiting you?
Different views of financial information and ease of use to budgeting and forecasting
Streamlined budgeted, monthly reviews and forecasting.
What do you like best about the product?
Ease of use for non finance user. Prophix support is the best in the business.
What do you dislike about the product?
Sometimes is slow. Receive different answers for problems from different consultants
What problems is the product solving and how is that benefiting you?
We have shortened the budget cycle.
Recommendations to others considering the product:
Make sure to get a great consultant preferably from Prophix to help with implementation. Be very specific with set up.
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