Prophix One Financial Performance Platform
Prophix SoftwareReviews from AWS customer
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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.
We are using Prophix as financial reporting tool to read data from ERP
What do you like best about the product?
Features and functions. It is able to manipulate the data and format the way finance leads or customers wanted
What do you dislike about the product?
The way Prophix handle the licenses for DEV and UAT. They won't have those licenses and you have to buy
What problems is the product solving and how is that benefiting you?
Financial reporting and budgeting
Recommendations to others considering the product:
It's a great tool to manipulated the data from ERP
System is user friendly for reporting and adhoc analysis.
What do you like best about the product?
I can design reports, templates, and adhoc with ease. Data entry and integration of materials is not overwhelming and is helpful to limit the amount of keying required by the user.
What do you dislike about the product?
Cube building can be cumbersome when you are trying to setup data structure. Resources for assistance in the cube building seem to be hard to get, unless you want to pay higher $ for consultant assistance and some of the assistant packages can not be used throughout your company by set to one user only.
What problems is the product solving and how is that benefiting you?
Reporting automation and out of excel
Recommendations to others considering the product:
Don't be afraid to think outside the box and do more.
Tony Vinciguerra
What do you like best about the product?
Prophix is very easy to use and to instruct others, as it has an Excel feel to it.
What do you dislike about the product?
Sometimes the consolidation feature takes a long time to process.
What problems is the product solving and how is that benefiting you?
We are able to better compile our budgets and forecasts, as well as quickly report our actual figures on a monthly basis.
Best setup for consolidations available
What do you like best about the product?
Allow us to consolidate multiple subsidiaries in a way that we can pull Bay data we need in a quick and efficient manner.
What do you dislike about the product?
The speed slowed when we had too many users using Prophix
What problems is the product solving and how is that benefiting you?
Allow us to consolidate multiple subsidiaries in a way that we can pull Bay data we need in a quick and efficient manner.
Recommendations to others considering the product:
If you are using something like Host I woulsmr commend using this product instead
CFO
What do you like best about the product?
The flexibility of Prophix. Their solution is so much more than just a budget package. We are solving pressing business issues with Prophix. (and moving manual processes to automated processes!)
What do you dislike about the product?
I do wish implementation would not take so much time. There has to be a quicker way to get up and running.
What problems is the product solving and how is that benefiting you?
We have used Prophix to replace manual solutions that took hours to do. We currently are working on replacing Power BI so that we have both live and historical data that we can look at. The next project that kicks off, next week, is related to customer utilization.
Recommendations to others considering the product:
Great choice!
Great time saving tool
What do you like best about the product?
Prophix has streamlined our budgeting process.
What do you dislike about the product?
There is a learning curve as with any new system.
What problems is the product solving and how is that benefiting you?
Time saving in budgeting and reporting process.
dynamic software that can do more than just financial reporting
What do you like best about the product?
drill across, ad hoc reporting, using it for reports other than financial reports
What do you dislike about the product?
i feel like there is so much unknown about the software. i enjoy the monthly webinars, but would like to see more webinars about other potential uses... much like what you see at the user conference
What problems is the product solving and how is that benefiting you?
using prophix for time reports
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