Prophix One Financial Performance Platform
Prophix SoftwareReviews from AWS customer
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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.
Prophix helps build reports efficiently
What do you like best about the product?
Prophix allows us to pull data quickly and efficiently in an organized manner so that it may assist us in our close process. We recommend the use of the software.
What do you dislike about the product?
Prophix doesn't provide everything that we need to build reports, so we need to use the data from prophix to build the report elsewhere. Very little to dislike.
What problems is the product solving and how is that benefiting you?
Prophix proves to be a good use of data storage and data extraction. We use it to accurately build our reports outside of the software with confidence in the underlying data and the way that it is organized.
Consolidations made easy with Prophix
What do you like best about the product?
Ability to set up your company structure (legal entities, sectors, etc.) in a way that makes the consolidation process pain-free and automated each month. It is easy to add/remove/alter the structure you have built as a result of corporate reorganizations or acquisitions/divestitures.
What do you dislike about the product?
The product struggles with processing assumptions entered to build forecast or budgeted balance sheets and cash flow statements. Users are required to find creative ways to reduce the processing time, which can lead to increased manual work required.
What problems is the product solving and how is that benefiting you?
Prophix helps us with the time crunch of month-end and the budgeting process, as well as with data integrity. In the past, our company used massive excel spreadsheets, which were manual and prone to error.
User friendly
What do you like best about the product?
I find Prophix to be much more user-friendly then previous software I have used.
What do you dislike about the product?
My only complaint is how long it takes to load Prophix using our GL software. I believe that is an issue on our end with our current process however, so we are working to correct that with the help of Prophix support
What problems is the product solving and how is that benefiting you?
Prophix makes retrieving large amounts of data and generating reports much easier than other software I have used
Excellent reporting system!
What do you like best about the product?
Prophix is very user-friendly and ideal for Construction Material Companies looking to produce sleek reports. I would recommend this software.
What do you dislike about the product?
Cannot comment on a dislike at this time.
What problems is the product solving and how is that benefiting you?
Prophix software has allowed us to produce timely reports with data we can trust. We use the software for budgeting and forecasting as well.
Efficient & Effective
What do you like best about the product?
Prophix is helpful because it is efficient and effective.
What do you dislike about the product?
The only issues are that it tends to run slow when many users are in the system.
What problems is the product solving and how is that benefiting you?
It helps with budgeting.
Prophix is recommended for Financial Reporting and Budgeting
What do you like best about the product?
The Prophix organization is excellent. Great people to work with.
What do you dislike about the product?
They are expanding so fast that it is becoming harder to get as fast response of a response time on support tickets as we used to get.
What problems is the product solving and how is that benefiting you?
Greatly improved our Financial Consolidations, budgeting and forecasting.
Great software, easy to use, powerful
What do you like best about the product?
Budgeting is easy to use. Forecasting is easy to use and set up new scenarios. Consolidation works flawlessly.
What do you dislike about the product?
Nothing, really like the software. No issues using or implementing.
What problems is the product solving and how is that benefiting you?
Prophix helped us to become better and more efficient at budgeting and forecasting.
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