Prophix One Financial Performance Platform
Prophix SoftwareReviews from AWS customer
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Excellent Forecasting and Budgeting Tool
What do you like best about the product?
Information gathering from operational departments can be time consuming. Prophix is easy to learn and use by operational departments reducing the workload on the finance team. Prophix allows for "self serve" when it comes to reviewing actual monthly results. The dashboards are great to Executive review and oversight.
What do you dislike about the product?
Learning how to create reports can be time consuming
What problems is the product solving and how is that benefiting you?
Budgeting and Forecasting was once done in excel. There were many spreadsheets. Assumptions would be changed but not all departments would update their portion of the costing. Prophix has simplified the budgeting and forecasting process and ensured proper alignment across departments
Prophix is great for companies that have multiple branches with separate financials
What do you like best about the product?
Prophix is great tool for reporting and presenting financials. We have several branches that require separate reports, and Prophix is the perfect program to help prepare and present financials.
What do you dislike about the product?
Prophix can be tricky to get a hang of at the start, but they have a great support staff to answer any questions you may have. They also provide great training and learning videos to help.
What problems is the product solving and how is that benefiting you?
Prophix help transform how we budget and forecast for the future. I'm excited to see how we can continue to grow with the use of their new AI capabilities. Prophix has also helped how we present financials for our branch managers to digest.
Budget Season is a Breeze
What do you like best about the product?
I love the ability for natural roll ups within companies/departments without the extra work required in excel. I am in the software daily and can quickly review process completion, workflow completion and ensure the system is syncing with our financial data.
What do you dislike about the product?
There is very little I dislike. Typically dislikes are caused by my own errors.
What problems is the product solving and how is that benefiting you?
Prophix took us from 60+ excel worksheets for budget season into software that seamlessly handles this in one worksheet.
Great FP&A software
What do you like best about the product?
Prophix has a great deal of out of the box functionality that is useful over a broad range of industries.
What do you dislike about the product?
Prophix uses a unique MDX code for some formulas which can be confusing.
What problems is the product solving and how is that benefiting you?
It provided a much easier way to budget where many users can enter data and the numbers can rolled up without having to worry about formula issues as is the case with Excel. It has dramatically reduced the time we spend on the budgeting process.
workable
What do you like best about the product?
the ai features looks promising. support is very helpfull
What do you dislike about the product?
limited features on workflows and various other limitations
What problems is the product solving and how is that benefiting you?
template changing or rebuilding. saves time to research it
Solid cost-effective option
What do you like best about the product?
The flexibility of the software is great. You have the ability to build the system in a way that is flexible to your business needs. The models can be as granular or high-level as you want. Once it is setup, it does an excellent job of allowing you to automate reporting and modeling and maintain various scenarios.
What do you dislike about the product?
While the flexibility is great, my experience has been that it requires quite a bit of technical/consultancy time to get the integration setup and maintain the software due to the complexity of the implementation. The customer support has also, in my experience, been a bit slow to respond.
What problems is the product solving and how is that benefiting you?
We are in the process of implementing Prophix for sales budgeting and sales forecasting. The software allows for you to build a robust process for maintaining the forecasts and budgets, and then save them for future comparability to actual data (or alternative forecasts and reforecasts). We then plan to look into utilizing it for building out a full P&L forecast and budget.
Prophix Software Review – Empowering Financial Planning and Analysis
What do you like best about the product?
We've been using Prophix for several years now, and the experience has been overwhelmingly positive. As a corporate performance management (CPM) solution, Prophix has transformed how our finance team handles budgeting, forecasting, reporting, and analysis.
Prophix truly shines in automation and data integration. We were able to connect it to multiple data sources, streamlining our month-end close and enabling real-time insights. The time we’ve saved on manual processes alone has been a game changer. Plus, the version control and audit trails help us maintain data integrity and comply with internal controls.
Another standout feature is the scenario planning capability. We can easily run what-if analyses, which has helped us make more confident, data-driven decisions in a volatile business environment. The ability to quickly pivot and model different outcomes is invaluable.
Prophix truly shines in automation and data integration. We were able to connect it to multiple data sources, streamlining our month-end close and enabling real-time insights. The time we’ve saved on manual processes alone has been a game changer. Plus, the version control and audit trails help us maintain data integrity and comply with internal controls.
Another standout feature is the scenario planning capability. We can easily run what-if analyses, which has helped us make more confident, data-driven decisions in a volatile business environment. The ability to quickly pivot and model different outcomes is invaluable.
What do you dislike about the product?
While Prophix offers a powerful suite of features for financial planning and analysis, one of the main challenges we encountered was its steep learning curve. Despite the intuitive interface, the software’s depth and flexibility require a significant time investment to fully master, especially for users who are new to CPM tools or lack a background in data modeling. Initial setup, including building data models and configuring integrations, can be complex and overwhelming without strong training or support. While Prophix does offer helpful resources and responsive customer support, organizations should be prepared to allocate time and training to ensure users become comfortable and can leverage the platform's full capabilities.
What problems is the product solving and how is that benefiting you?
Prophix Software is solving several key problems in our financial planning and analysis processes, primarily by reducing manual work, improving data accuracy, and enhancing our ability to forecast and analyze performance. Before Prophix, we relied heavily on spreadsheets, which were time-consuming, error-prone, and difficult to manage as our organization grew. With Prophix, we’ve automated budgeting, reporting, and forecasting, which has significantly cut down on time spent compiling and validating data. This has allowed our finance team to focus more on strategic analysis rather than administrative tasks. Additionally, the software provides a centralized, secure platform for financial data, which improves collaboration across departments and ensures everyone is working from a single source of truth. The ability to run real-time scenario analyses and quickly adjust forecasts has also been a major benefit, especially in today’s fast-changing business environment.
Financial Planning and Reporting Software that is easy to use and maintain
What do you like best about the product?
Prophix software is very user friendly and extremely easy to maintain. Implementation was quick and easy. Integration with ERP's is seemless.
What do you dislike about the product?
There aren't any downsides to the software. If you come across any, it probably is due to how you set up the system.
What problems is the product solving and how is that benefiting you?
All details for planning can be found in one central location. Planning details are owned and managed by operations managers freeing up time for finance to focus on other areas of the business.
Prophix: Do it all financial software
What do you like best about the product?
I really enjoy how user-friendly the system is. Onboarding new users is faster than some other software I've used in the past because of how intuitive the interface is. The financial reporting, planning and budgeting tools are what drew us to the software and Prophix offers a complete, comprehensive suite of tools for all of these needs. I've only had very positive experiences with customer support and the staff seems to be extremely friendly. My department uses this tool daily and it has been a success story with our organization.
What do you dislike about the product?
I would like to see more of a focus on financial projections and predictive budgeting. Prophix has some tools capable of this but none have been able to replace our Excel models just yet. Machine learning seasonality would be a huge benefit to expense spreading.
What problems is the product solving and how is that benefiting you?
Data management and report building. Our dataset is very large and the dynamic drilling and heirarchies allows us to get to the exact intersection we need faster than a flat file ever could. The dashboarding feature has been a great tool for executives who need a quick snapshot of how their department is preforming without the hassle of searching through emails.
Prophix: A Fantastic Solution for all of your Reporting & Budgeting Needs
What do you like best about the product?
Prophix is very easy to use (both for those that work in finance and outside of finance), the company offers great customer support and is always available when we have issues, and we are excited that Prophix is continuing to invest in additional features (such as AI). We look forward to all the great things we will continue to do with this tool!
What do you dislike about the product?
I think the dashboards could use some improvement (we do most of our graphs in Excel due to the limitations in Prophix), some reports are not very usable right when they are downloaded and require manipulation in Excel, and it would be great if we were able to access invoices/other support directly in Prophix rather than having to go outside of the tool.
What problems is the product solving and how is that benefiting you?
Prophix makes our planning process much easier by allowing users to directly enter their budgets in the tool. Additionally, we run all of our expense allocation calculations within the tool (these used to be in Excel).
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