Prophix One Financial Performance Platform
Prophix SoftwareReviews from AWS customer
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Fast TTM and comprehensive platform for easing Fin Plan pain (Excel Hell) for complex organizations
What do you like best about the product?
My client had 7-10 different budget processes going on across the company, each with their own excel templates and timeframes. Melding them into a single forecast was impossible. Codes, objectives, times, and even the base entities were different from each other. Maintaining the templates was difficult, we were constrained in updating them to meet changing requirements if the original authors were no longer with the company, and many of them required manual data updates on a monthly basis from the client's 3 different ERPs.
Prophix has changed all of this for us. For those excel templates that were already meeting our needs but required manual updates, we converted them into Prophix templates based on it's centralized cube data structure. Multi-user updates, automated imports from our ERPs, and the ease of which we can pivot the data into alternate views has been a game-changer. The ability for Prophix to have different data sets for different planning needs, then being able to merge them into a consolidated data set using their Data Integration Studio, is another game changer. All excel formulas are supported in Prophix templates, so it was easy for our excel super-users to convert to Prophix; but the template structure is organized and defined enough that it's easy to pick up for even moderate or entry level users.
Since differnet deparments have their own planning schedules, we now have users in the system daily from different parts of the organization.
We use their workflow feature to alert parties of their outstanding planning and/or reporting tasks, track task completion, collect approvals, and publish "binders" as attachments to emails for executive distribution.
We don't need to use customer support very often, but when we do, they are always quick to reply and thorough in their help.
Prophix has changed all of this for us. For those excel templates that were already meeting our needs but required manual updates, we converted them into Prophix templates based on it's centralized cube data structure. Multi-user updates, automated imports from our ERPs, and the ease of which we can pivot the data into alternate views has been a game-changer. The ability for Prophix to have different data sets for different planning needs, then being able to merge them into a consolidated data set using their Data Integration Studio, is another game changer. All excel formulas are supported in Prophix templates, so it was easy for our excel super-users to convert to Prophix; but the template structure is organized and defined enough that it's easy to pick up for even moderate or entry level users.
Since differnet deparments have their own planning schedules, we now have users in the system daily from different parts of the organization.
We use their workflow feature to alert parties of their outstanding planning and/or reporting tasks, track task completion, collect approvals, and publish "binders" as attachments to emails for executive distribution.
We don't need to use customer support very often, but when we do, they are always quick to reply and thorough in their help.
What do you dislike about the product?
The biggest downside is not being able to change a cube's dimensional structure once it's establish. Members and hierarchies within the structure are easily modifed; it's the names and number of dimensions that remains static.
Second is that all "automation" in Prophix must be internal; prophix processes cannot be invoked by external orchestration. Automation does have some limitations.
Finally, the ad-hoc flxibility for end users working with data in templates is limited. For example, filtering or sorting is part of the template definition, not adjustable by the user at runtime.
Second is that all "automation" in Prophix must be internal; prophix processes cannot be invoked by external orchestration. Automation does have some limitations.
Finally, the ad-hoc flxibility for end users working with data in templates is limited. For example, filtering or sorting is part of the template definition, not adjustable by the user at runtime.
What problems is the product solving and how is that benefiting you?
Annual corporate budgets with quarterly reforecasts and variance reporting; annual budgets for properties under management with monthly reforecasts and variance reporting; construction job budget setup, changes over time, cash flow planning, and variance reporting; coprporate monthly financial reports; long range construction pipeline, staff needs forecasting, and cash flow forecasting; short range personnel planning in detail, with variance analysis; centralized cross-functional IT planning with variance analysis across ERP systems.
Easy to Use. Little need for IT involvement
What do you like best about the product?
Prophix is easy to use, easy to learn and doesn't need IT to be involved heavily for implementation. Customer support has been top notch and there is so much easy trainings to learn. There are so many ways to get help and self support. I use this software daily and it is just so seemless to get your data.
What do you dislike about the product?
Some of the courses for trainings have significant overlap which makes them take longer to complete.
What problems is the product solving and how is that benefiting you?
We are using the software for consolidation. We need to upgrade to a better version of this software because we have grown internationally and need better currency conversion options but we have seen demos and this software is going to solve that for us.
Great software!
What do you like best about the product?
The ability to create and customize report as well as manage large data sets
What do you dislike about the product?
There are small glitches here and there, performance when it comes to large data sets is not the best
What problems is the product solving and how is that benefiting you?
Consolidating financial data from different ERP systems into 1 - benefits are not having to work with multiple excels
Excellent software, even better team!
What do you like best about the product?
Prophix is user-friendly and intuitive enough for the non-tech savvy end user, yet powerful and flexible enough for creating robust, dynamic models and reports. It integrates seamlessly with existing tools and allows for a finance-focused structure that can adapt to the company's value stream and workflows. Automation and workflow management are a breeze; our budgeting and forecasting cycles have been streamlined so that we're able to focus more heavily on analysis, strategy, insights, and scenario/sensitivity testing. It's also remarkably scaleable so we're confident that the tool will grow with the company without any hitches. With automated reports and processes, my team can now focus on leveraging our data to drive the company forward instead of churning through piles of manual reports. Prophix quickly became an integral part of our daily workflow.
There's also a very involved and knowledgeable community that's able to provide ideas and insights on creative and obscure solutions to even the most complex use cases. The sales, implementation, consulting, and customer success teams are all extremely capable and friendly and it's clear that the entire Prophix team is dedicated to and motivated by your company's success!
There's also a very involved and knowledgeable community that's able to provide ideas and insights on creative and obscure solutions to even the most complex use cases. The sales, implementation, consulting, and customer success teams are all extremely capable and friendly and it's clear that the entire Prophix team is dedicated to and motivated by your company's success!
What do you dislike about the product?
Because Prophix is meant to be a universal tool, it can take some creative problem-solving to adapt it to your needs, based on your company's complexity and data structure. It's a great addition to a reporting tool suite, but is not a replacement for tabular models like Power BI, for instance. As an example, Prophix uses a year/month aggregation for time data, so reporting and filtering data by day is not feasible outside of the Drill Across function. However, it's critical to understand what Prophix is and is not designed to do and plan your reporting toolbox accordingly.
What problems is the product solving and how is that benefiting you?
Budget and forecasting workflows, calculations, and consolidations, detailed CAPEX and Personnel planning, financial statement generation and consolidation, and report automation. Our workflows are more streamlined and automated, and we're able to spend more time considering alternate scenarios, business implications, strategic decision making, and critical insights and less time on mundane/repetitive/low-value processes. We're able to simultaneously understand our business more and apply that knowledge to timely and educated decisions; the Finance team is becoming less reactive and more proactive.
Finance planning and analysis manager- working in Prophix for budget, forecast, capex, personnel
What do you like best about the product?
I like that Prophix makes budgeting, forecasting, and reporting much easier by automating processes and reducing manual work
What do you dislike about the product?
There are couple of areas where there is a scope for improvement. Like display and flexibility of templates
What problems is the product solving and how is that benefiting you?
Prophix helps reduce manual Excel work, improves accuracy in budgeting and forecasting, and makes it easier to analyze data. This saves time and supports better decision-making.
Extremely useful and powerful
What do you like best about the product?
Prophix is powerful and intuitive. Which is not always something you see in one software. It makes finding data super easy with the slice and dice feature and you can build powerful templates to keep other stakeholders in the business informed about important financial data.
What do you dislike about the product?
I have no real complaints about Prophix, still relatively a new user. I would like to see better sorting options on the document explorer for files but that is minor.
What problems is the product solving and how is that benefiting you?
Getting budget data from budget holders was a huge problem with multiple spreadsheets going around and versions getting mixed up. Prophix contributor has been a life saver where budget holders can enter into excel so they are familiar with it but directly upload their budget numbers to Prophix.
Great software for financial reporting, and very user friendly.
What do you like best about the product?
The fact that we can have a connect between our accounting software (SAP) and Prophix is amazing.
What do you dislike about the product?
When it comes to building dashboards, there are some issues with graphics and filtering options.
What problems is the product solving and how is that benefiting you?
Report distribution, and consolidation between multiple entities.
Prophix
What do you like best about the product?
Prophix is collabrative and intuitive an easy to pick up
What do you dislike about the product?
There is a wait time when other are updating things
What problems is the product solving and how is that benefiting you?
Prophix helps with reporting, allocations, budgeting and forecasting
Strong Reporting Capabilities, Might not be great for large complex orgs.
What do you like best about the product?
Prophix does a really good job at allowing for dynamic reporting from the cube. You can slice and dice the data in any way you need to see it, and the user interface is very clean, modern, and easy to use. I also really enjoy the support that comes with the Continuous Success Package (CSP). I feel that I can reach out at any time and I will have a knowledgeable consultant to answer my questions. It keeps up with our daily use for 10 active users and rarely do we run into functionality issues with servers going down or anything like that.
What do you dislike about the product?
A downside that I have with using Prophix is that the reporting can take a while to load if you have many different unique member combinations. We have to limit the filters in certain reports or create duplicate reports with slightly different filters to get to certain reports if we don't want to wait 10 minutes for a report to load. My other complaint is that the integration with O365 isn't very intuitive in Excel (getvalue formulas rather than being able to click and connect like some other products) and there is not a streamlined powerpoint integration that doesn't show the full web-interface within the PowerPoint deck (which causes deck building to take many hours each month rather than a simple click and refresh).
What problems is the product solving and how is that benefiting you?
Prophix is solving the need to create manual excel reports and rather lets you automate those by building them in Prophix and being able to pull those on a Monthly basis. It is also allowing us to run an allocation process to push enterprise cost from a select number of departments to a bunch of geographix areas. We had a long complicated excel process that was doing this originally, but we were able to build it in Prophix and make it much more dynamic. We can create many different slices of reporting that fits our management and board level needs.
Innovative Product with Useful Reporting
What do you like best about the product?
Prophix is really good at allowing its users to build reports quickly, or take currently existing reports and turn them into a different view in a short time. Distributing reports to end users is really easy through the Report Binder tool. The management of changes in accounts and business units are easy to make.
What do you dislike about the product?
The administration and process side of prophix can be a headache when things break or wipes the cube of all data, it can be hard to audit what went wrong and why.
What problems is the product solving and how is that benefiting you?
Prophix allows us to put together forecasts and budgets for the company and useful reporting for our management level directors. It also allows us to easily send out reporting packets to end users, managers, etc.
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