Prophix One Financial Performance Platform
Prophix SoftwareReviews from AWS customer
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Very flexible system, wish performance was better
What do you like best about the product?
Flexible system that I can make changes to without needing to go to IT. Also sits on Microsoft solution stack, which is what we use, so it makes it easy to access not only via Prophix, but directly via other means such as SQL/MDX queries or Excel pivot tables and CUBE functions
What do you dislike about the product?
Performance is still a problem for me - there seems to be a lot of overhead. Also, when doing heavy duty MDX calculations, it seems that processors aren't fully utilized (seems like only one processor gets used, so if you have 4 processors, you will only get about 25% utilization - this might be a Microsoft problem with Analysis Services though, not sure). Also, if they can't find a solution to a problem quickly, support seems to take FOREVER to fix things - I have several open tickets now that are YEARS old.
What problems is the product solving and how is that benefiting you?
Primarily using Prophix for budgeting process. Prophix allows us to get away from spreadsheets and the related data integrity problems. Also allows for workflows and the ability to gain visibility into the status of the budgeting process.
Prophix Review
What do you like best about the product?
Good Personnel Budget and estimating Tool.
What do you dislike about the product?
It doesn't have a cloud version yet. Maybe in 2018
What problems is the product solving and how is that benefiting you?
Budgeting
Cut my time in budget by 2 weeks
Cut my time in budget by 2 weeks
Recommendations to others considering the product:
week training may not be enough time
Generally favorable with a few quirks
What do you like best about the product?
The ad hoc function is by far the best. Love the ability to slice and dice satay easily and quickly and accurately.
What do you dislike about the product?
Software comes with some quirks like inability to function accurately with alternate hierarchies and speed/performance with calculations.
What problems is the product solving and how is that benefiting you?
Immediate and on the fly analysis during budgeting season. All our data is readily accessible.
Strong for financial budgeting, reporting and consolidation
What do you like best about the product?
The report builder called template studio, this is an Excel style report builder which is very easy and user friendly but allows you to create very powerful templates.
The workflow manager allows you to create for example a budget process, which consists of various steps, you can set dependency and monitor the progress.
Financial controller is a module for financial consolidation, you can set up various types of ownership, link it to specific accounts and Prophix will automatically generate the eliminations journal entries.
The workflow manager allows you to create for example a budget process, which consists of various steps, you can set dependency and monitor the progress.
Financial controller is a module for financial consolidation, you can set up various types of ownership, link it to specific accounts and Prophix will automatically generate the eliminations journal entries.
What do you dislike about the product?
Prophix is based on Microsoft SSAS cubes, and for certain reports like top 20 customers you need to use MDX.
It is not possible to add more dimensions to your model once you created it. So you need to start over again if you want to add an extra dimension to your model.
You should try to limit the model to 6-7 dimensions otherwise it will cost you performance.
It doesn't not have the fancy interactive dashboards like PowerBI of Qlikview
It is not possible to add more dimensions to your model once you created it. So you need to start over again if you want to add an extra dimension to your model.
You should try to limit the model to 6-7 dimensions otherwise it will cost you performance.
It doesn't not have the fancy interactive dashboards like PowerBI of Qlikview
What problems is the product solving and how is that benefiting you?
We use Prophix for consolidation and reporting at holding companies, we import data from all the entities, transform the data to the reporting chart of account structure and run an automatic consolidation. As a result of this we can now do a monthly close in only 2 days instead of 5 days.
We use Prophix for budgeting and forecasting, we automatically distribute input templates to the budget owners, the enter the data and add comments. All the data is automatically imported and management can review the aggregated results. We have much more control over the budget process, We can do a couple of budget rounds before we come to the final budget and with the same process we run the monthly forecast process.
We use Prophix for budgeting and forecasting, we automatically distribute input templates to the budget owners, the enter the data and add comments. All the data is automatically imported and management can review the aggregated results. We have much more control over the budget process, We can do a couple of budget rounds before we come to the final budget and with the same process we run the monthly forecast process.
Recommendations to others considering the product:
I would strongly advise to take courses or onside training to get the maximise your investment. This allows you also to create own model and reports and be less dependant of consultants.
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