Prophix One Financial Performance Platform
Prophix SoftwareReviews from AWS customer
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Prophix a tool that supports
What do you like best about the product?
What I like most about Prophix is, how user friendly it is. The user interface is very easy to nagivate and the help section is very informative even for non financial people.
What do you dislike about the product?
There is not much I do not dislike about Prophix but if I had to pick something would be not having a place to export with keys and names. This has been a challenge.
What problems is the product solving and how is that benefiting you?
Prophix is doing a great job with comparing budget to actuals in one view. It also helps with the forecast process by bringing in employees with calculation. The automation has been helpful.
Prophix - User Friendly Budgeting/Forecasting/Organizational Profitability Software
What do you like best about the product?
Easy to use. Very similar to Excel so learning curve is muted.
What do you dislike about the product?
The Excel Add-In is only available via Office 365....should be available to other versions of Excel (at least the newer versions)...
What problems is the product solving and how is that benefiting you?
Information distribution
Prophix
What do you like best about the product?
Centralized Data that all reports pull from so don't have to worry about updating multiple reports when an assumption or input changes.
Ease of accessing infomration in a user friendly way.
Cloud based for users to be able to access their financial reports. No more emailing out several different files to different users.
Ease of accessing infomration in a user friendly way.
Cloud based for users to be able to access their financial reports. No more emailing out several different files to different users.
What do you dislike about the product?
Limited Customization for Visuals
Support can be slow
Support can be slow
What problems is the product solving and how is that benefiting you?
Gets us out of Excel and eliminates the risk of version control or multiple reports needing to be updated. Also manages our budget workflow for us.
Mostly building reports and distribution.
What do you like best about the product?
Building reports, support, and service....
What do you dislike about the product?
Cloud version can be slow at times......
What problems is the product solving and how is that benefiting you?
Financial management.
Solid Software, Medium Learning Curve
What do you like best about the product?
The software is robust and simply crushes a lot of data quickly. Once you become familiar with the child/parent relationships, hierarchies and reporting functions, it's actual easy to use, but I'll say the learning curve can be steep. I also love that it's easy to export data to excel, schedule report distributions and change settings on the fly.
What do you dislike about the product?
Sometimes the cloud version feels clunky and I wish there were more customizations available in the menu. The menu in the on-prem version was much better and it's disappointing it didn't transfer over as nicely.
What problems is the product solving and how is that benefiting you?
I wouldn't necessarily call it a "problem" - Prophix is our primary financial management tool and we've used it for nearly a decade. It's benefitted us immensely by giving us confidence in our reporting regardless of our data source.
Flexible Reporting and Analysis
What do you like best about the product?
The ease of creating simple or complex reports and then a simple process to run/print/analyze monthly. All the processes you configure are very similar so as you set up your instance you are leaning the tools you will use across all modules.
What do you dislike about the product?
I don't think there is any downside to using Prophix, we have this distributed to many users and quite a few are non-accounting people that are able to provide data for forecasting without relying on a central team.
What problems is the product solving and how is that benefiting you?
We are able to get new users up and running quickly. The ability to analyze accounts and retrieve detail quickly allows us to respond quickly. The forecasting we are able to do was not possible in Excel spreadhseets and the quality of the data is much better as it comes directly from the stakeholders.
Prophix Gives Us a Significant Advantage!
What do you like best about the product?
Prophix is incredibly flexible, and we are limited only by our imagination. It also allows us to overcome our ERP's financial and budgeting deficiencies.
What do you dislike about the product?
"Dislike" feels a little strong, but I wish the platform's report and dashboard format options were as strong as Excel's.
What problems is the product solving and how is that benefiting you?
Our ERP makes it challenging to pull financial information on an ad hoc basis, and there are some things it is unable to report. Prophix solved that for us.
Unlocked Potential
What do you like best about the product?
The most important part about Prophix, is that it has become a one stop shop for our Actuals and Plan data. The cohesiveness of the system along with the ability to collaborate with department leads allows for the data to be more accessible, and accurate.
What do you dislike about the product?
While Prophix is a very robust tool, that is it's same pitfall. Users who are not constantly utilizing Prophix, will find it difficult to navigate and burden falls on the administrator or other advanced users to assist less frequent users. Essentially, like any other software, practice makes perfect.
What problems is the product solving and how is that benefiting you?
Real-time reporting. Budgeting and planning. Version control. Year-over-year comparatives. Collaboration between accounting and departments. Rollup of financials at month-end.
Flexible Product Requires Plenty of Maintenance
What do you like best about the product?
Flexible nature of product and fully customizable. Customer Service is solid and everyone is friendly. User Interface is intuitive and modern.
What do you dislike about the product?
There is a lot of maintenance required from Administrators.
What problems is the product solving and how is that benefiting you?
Very detailed personnel planning, customizable input templates, automated reporting
Innovative Budget and Forecasting Tool
What do you like best about the product?
As a finance manager I can own and control the software whereas larger enterprise systems typically require advanced knowledge of SQL or IT personnel to assist with any updates or new developments to a report. The software is cloud based and relatively easy to use. Prophix provides excellent training and support through their academy as well as a responsive support group one can file help tickets with. I especially like the Detailed Planning Manager module which I use to budget staff at the employee level and feed both the budget and the projection. I've budgeted in other areas of my organization and Prophix really makes the overall experience faster and easier. Additionally, pulling ad hoc views of financial data couldn't be simpler. You move your dimensions around and you have exactly what you need. There is no need to run queries, it's all right there.
What do you dislike about the product?
Here are a few things that I dislike: When key updates are rolled out, I think the account manager should directly reach to global administrators because these auto emails can get lost in all the other email updates. I also believe modifications to the front-end experience in process manager would be helpful for organizations that use complex and lengthy processes. When larger projects or integrations with new data are taking place, its challenging to get time with developers that is not months away. Lastly, dashboard features in Prophix are not quite as advanced as Power BI. However, this is made up for with its superb scenario planning and integration performance.
What problems is the product solving and how is that benefiting you?
Prophix has solved three problems for us. First, it enables us to run a complex forecast process with many different expense allocations. These allocations are fueled not only by percentages, but by the operational data we upload into the system. Second, it makes budgeting a lot easier and less time consuming. We set up a model in DPM and can calculate our staffing budgets with minimal effort and once it is set up, you can update a couple of things and its ready for next year. Lastly, it helps us generate P&L statements using operational data at a lower level, which is something that is extremely time consuming and tedious to do in excel.
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