Flexible CPM software that provides excellent variance analysis

Prophix has helped us to save time in our budgeting and month end.

Pros

We love the budgeting aspect of Prophix. We are able to have more cross functional support and accountability.

Cons

The thing that I like least about the software is end user engagement. It's always difficult to get them interested in the software beyond budgeting.

Plethora of Options

Prophix is the best planning and expense analysis software I have seen. It has allowed me to streamline so many processes. This company also provides excellent training so that we have the ability to control the software and create whatever is needed. The consultants are knowledgeable and have helped us to customize the system to our company.

Pros

The Prophix Software is very versatile, starting with it creating a web-based platform. This was important for our company and allows the software to be updated quarterly without issue. We are able to use Prophix for Expense tracking, Expense and Capital planning, reforecasting, Compensation planning, Project tracking, Expense allocation, GAAP PLOB reporting, and still have several more tasks to implement through Prophix. The data can be sliced and diced many ways, and each user is able to do it however they like. It is easy to create or run existing reports. We have made many of our processes more efficient, and Prophix has allowed us to save more time than you can imagine. The software is easy to use and visually outstanding. The Prophix consultants were patient and supremely knowledgeable, personalizing and customizing the software to our company’s needs.

Cons

There are so many options within Prophix that at times, it can be overwhelming. I think it’s necessary to have a few Admin to create reports and assist users, so that the users do not have to know how to use everything.

Construction review

it met all of our needs and is a great software

Pros

its very flexible and provided what we needed

Cons

sometimes it can be a little slow and has crashed in the past

Flexible and easy to adminster CPM

Budgeting, forecasting, reporting and consolidation across global user base. We have several systems across multiple entities and we utilize Prophix to consolidate and report out of at the global level.

Pros

Our experience with Prophix has been very favorable. We were looking for a tool to centralize our global financial reporting and planning functions and Prophix allowed us to accomplish this at a very reasonable cost vs other applications that were under consideration. The interface is intuitive and easy for end users to complete the required tasks. The web client satisfied our need for a solution that could be implemented globally.We are also able to administer and maintain the tool within the finance function which increased our flexibility and reduced our reliance on IT. The reporting capabilities met our needs and allows us to easily consolidate and present our data in a multi currency environment. We use Prophix for reporting at all levels, from individual business unit data to Board and Executive level reports. We have several connections to other systems to import data and plan on adding more. The drill through capability to this data is also a nice feature.

Cons

Template/Report formatting can be tedious at times

Great Customer Service

Overall it has gone very well. I have learned a lot. The customer service has been sincere and helpful. Data integration is daily and report consolidation is easy to do.

Pros

The consultation and training was excellent. The data management is simple and effective. Easy to browse from different modules and pages. The knowledge bank is large and there is a large customer resource pool.

Cons

Some of the graphs and charts have limited accessories and capabilities. Learning curve was high, but this may be the nature of the software.

Powerful, flexible reporting tool

Capex planning and project management including variance analysis budget vs actual, internal reporting (formal quarterly reports, ad hoc management reports, with variance analysis year-on-year), consolidated external reporting (several entities across multiple countries and currencies), other external reporting

Pros

Powerful and flexible- report on almost anything! Pull data from multiple sources and compile and present in an almost infinite number of different ways. review variances, budget vs actual, generate your annual financial statements- name your reporting requirement, this program can do it. Great customer support and a community of users with a dedicated forum for questions. They are constantly seeking feedback from their users and adding new improvements to their product.

Cons

Like any other new software, this represents a huge investment in time, training, and supplier relationship. There is a great deal of software specific jargon, although they are always working to simplify this and improve training. Some steps can take a long time for the report to load. Some reports may be very difficult to build. That said they can help you redesign the report to run faster. Almost anything is possible with the right approach though. They are based in Canada with a limited presence and customer base in Europe, and sometimes can feel very North-America specific. I think this is slowly improving though.

End User

Change is hard, we all know that. If you give this software a chance you will find yourself using it on a daily basis. The data is spot on, can be organized into charts/graphs and then sent to individuals who would find the information useful.

Pros

The software provides quick access to data and can be formatted into reports to be sent to others within the organization. There is a drilldown function that is amazing for looking further into the information provided. For budget purposes, there are line item details, these are get as a reference point when review questions come into play.

Cons

The software uses dimensions, and that was confusing to me. When creating reports those dimensions need put into various columns or rows. If you don't have it just right, it won't return any information. Plus side is there are videos and help available to walk you through any aspect.

Great Product for

Pros

It is intuitive and easy to use. If you're familiar with excel, most of the functions carry over flawlessly.

Cons

Connecting more than 20 ERP systems to import data was a challenge. It affected the overall performance and ultimately usage as my company has not fully been able to convert to the cloud version. The administrator is still managing the Smart Client.

Prophix helps us solve business problems!

Pros

I love how powerful Prophix is as a reporting, analytics, and planning tool. It helps us to speed up our monthly close process, get accurate and timely reports to decision makers within the organization, and helps us prove value to our clients as well with dashboards. It is also a powerful tool for what-if scenario analysis.

Cons

It is a little difficult to learn and implement at the front end, but once you get up to speed it is a very powerful tool.

Power User Review

overall it is a good reporting and budgeting tool

Pros

automate business process such as global royalty allocations

Cons

performance issue with MDX or other complicate calculating

One Source of Truth

We have had a very good experience with Prophix. We were very reliant on Excel spreadsheets for Financial reports and budgeting. That is not the case now. Prophix has freed us from that. As we have learned more about the system we are able to develop other ways to use it besides reporting and budgeting.

Pros

Prophix has allowed us to have one source of truth for our Financial reports, our budget and forecast process. It has allowed us to get more people involved in the budget and forecast process while making it easier share information among participates.

Cons

I am not an IT guy so understanding the data connections has been a bit challenging. We get IT involved but I know they have other projects so getting it completed in a timely manner can be a challenge.

CPM Made Easy

We used to consolidate all of our financials for 20+ agencies using excel and it was a nightmare. After using Prophix we have been able to reduce errors, improve reporting, and be more analytical. The latest commentary functionality allows us to exclusively use Prophix for our forecasting and analytics.

Pros

As a finance employee, I enjoy the freedom of being able to control and maintain Prophix with minimal IT support. We have an on-premise server and I am able to RDP into the system if needed and reset services, modify tables, and update to the latest Prophix version without having to include our IT department. This allows me to quickly diagnosis issues and work more efficiently.

Cons

Report building can be problematic at times, especially when creating large reports with multiple data views.

Prophix Review from a non Financial user

I've had a fantastic experience with Prophix. Their engagement with the organisation, the structure to their implementation process and the online and offline support has been impressive. They empower the organisation to skill up to manage their own development and ability to evolve the platform so I feel excited about taking it forward. I also find their roadmap impressive, in that they are already thinking and planning some great developments for the future

Pros

Its ability to adapt and handle our non financial data without feeling like we were compromising , its logic and the transparency of the system (I am seperate to those within our organisation who have completed the implementation of our financial data-my focus is on the non financial operational data and measures)

Cons

For the operational data we opted for a flat file approach to integrating our data onto this platform so there was a lot of importing and exporting, however this was the best solution for us based on the format of our source data. We have spent a lot of time working on the structure, bringing in of data and creating the appropriate reports but I strongly believe the system is as good as the time you invest into its development for your organisation. It will be as good as what you put into it.

Great Product with Excellent Customer Support

My overall experience has been great. They support customers through their Prophix Academy and annual user conference. The monthly webinars are very informative. The staff is always very friendly and easy to work with. We are hoping to bring more processes into Prophix in the future.

Pros

I like the flexibility of this product. You can build any type of report, forecast, calculation, etc. that you want as long as you can feed data to it. I also really like the customer support - they are very helpful and responsive when their's a problem.

Cons

There are some manual activities maintenance activities you need to do. I can navigate it fairly well with the documentations provided.

Friendly and easy to use tool

Currently we do Financial planning and consolidation of our budget, Internal operational reporting and analysis and personnel budgeting within Prophix. Prophix has help us with better business partner during our budgeting process through there workflow and template process, which are great and easy to use.

Pros

The tool is very flexible for customizing the software to our business needs and even if we need to rebuild the structures and data cubes. The experienced Prophix consultants are a pleasure to work with and very knowledgeable.

Cons

Dashboard aspects is still a little weak

Propohix

Overall experience and support is generally average, but we did have a poor experience with customer support throughout our migration to the cloud.

Pros

Ability for multiple users (owners of each product line) to submit budgets and forecasts within Prophix. The work flow process allows my team to then analyze all submissions in consolidation, all within Prophix. Drill across capabilities are used constantly by the finance teams within our organization.

Cons

The excel add-in is not as good as others that I've used. Our migration to the Cloud environment was also very difficult for our team.

Completely Satisfied

My experience has been so much better than expected. We have reduced our budget cycle by 2 1/2 months, that’s just one example!

Pros

The time savings we’ve been able to achieve as well as the consistency of reporting.

Cons

That I can’t have one report workbook (like an excel file with tabs) to work in. You have to create a workbook process to combine it.

Robust and flexible with on-premise deployment option

Pros

Robust framework for Detailed Planning of HR, CAPEX, etc. plus ability to define workflows to support custom business processes in these areas. Also it is built on Microsoft SQL Server stack, which is ideal for our org as our other systems are based on the same and we can set up highly customized integrations using familiar technology.

Cons

Updates for the on-prem deployment are a little cumbersome and involve an uninstall/reinstall, plus editing web config files if you're deploying the web client.

Prophix Fan

Prophix has improved our monthly and annual processes with one true source; the Prophix support team has been instrumental in teaching every step of the way with professionalism and patience.

Pros

We primarily needed a budget that didn't require Excel spreadsheets being sent and complied in hopes nobody added a column or row! Not only are we able to all share the input of budget data, but we have comments, details, and a history of who did what! As a bonus, we were able to create all of our monthly financial reports in Prophix and automatically generate them into a PDF or in Excel! A nightly process that can also be run on-demand imports the GL details from GP, so we can review within minutes!

Cons

There is definitely a learning curve, but once you understand it, creating reports and viewing ad hoc details gets easier.

Prophix Saves us Time and Money

It is far superior than any other software I have used for reporting. Prophix makes everything we use it for easier and faster. The support team is easy to work with.

Pros

Prophix saves our team multiple days of work every month and multiple days during budgeting and planning every year. We have improved reporting and analysis. We can pull data from several sources and consolidate in one place.

Cons

Graphing capabilities, but they have communicated that it is in the product roadmap.

Help your users help themselves!

Pros

Prophix is a great software that is very multifunctional. You can use it for many different applications and design it to be as complicated or simple as your needs dictate. Our installation uses a function labeled Relational Data Views and allows users to drill into a total on a P&L and view the transactions from the GL system that make up the balance. This frees up Accounting from answering simple questions and allows the users to contact us less frequently.

Cons

Prophix does a great job on listening to users. We have located minor issues\bugs in the past but they are receptive to feedback. They also have a feedback forum for enhancement requests and users get to vote on each other’s ideas.

Dynamic and Easy to Use

Pros

It is a very intuitive software. It is easy to learn (and to teach). I especially like the Excel add-in functionality, which we use for financial consolidation, managerial reporting, budgeting and monthly forecasting. It is also a great tool for ad hoc reporting.

Cons

Like any software, it can be sluggish sometimes - especially when dealing with large amounts of data.

Intuitive and Insightful

Prophix has been great for budgeting and projection financials. It allows for easy insight into the general ledger data which has reduced my time spent piecing together information from multiple systems/sources.

Pros

I like how easy it was to grasp the basics of this software. Without being an expert I still feel that I am capable of getting the information I need and continuing to learn the system intuitively.

Cons

Some features of the software are a little more challenging to pick up and understand without adequate training.

User friendly, multi-purpose software with great support

Prophix has been the perfect solutions to our company's need.

Pros

Prophix is a well rounded software that is easy to use and is well supported by the Prophix team. Prophix has met and exceeded our company needs while continually improving on a daily basis.

Cons

There is some difficulties extracting multiple years of data our of the system.

Prophix Power User

Pros

Great for budgeting and forecasting. You can set up different templates to budget and forecast and other users can enter their values. Limits user access to certain areas. Has a personnel planning feature that eases the budgeting process for all wages, taxes, and benefits. Has a good reporting feature and interacts with your accounting software to import info with ease.

Cons

If you need to upgrade or make a large change you have to ask for support from Prophix and they aren't always easy to work with or quick to fix major issues. The reporting feature requires a lot of manual steps to set up new reports. It isn't super user friendly if you don't use it on a regular basis.

Great Product - Enhancements Galore!

Pros

Accessibility on web and and smart client, continued improvement and great customer support. Reporting and budgeting capabilities are limitless.

Cons

Dashboards have few updated features. However, feedback has been heard and enhancements will soon be released based on latest news.

Awesome CPM tool!

Pros

I like the simplicity that Prophix brings to its software. Building on OLAP cube technology, data can be sliced and diced as much as you like. They have an outstanding product feedback function, where users can request enhancements to the tool. In fact, many of the enhancements are customer driven. Total cost of ownership is low, including initial price point.

Cons

There isn't much I don't like about the software - the full control that the Finance team exhibits on the software keeps frustrations to a minimum.

Dyanmic and User Friendly

Great product - I've been very happy with it.

Pros

It's easy to use. It's a great tool for budgeting and monthly projections. It consolidates data from multiple sources and is more flexible than other softwares that we have utilized.

Cons

Switching from desktop application to online version is time intensive. This would not be an issue for new users - all new users receive the online version.

Great Product

Pros

I really like the ease of use of this product. Makes it easy to train a new user on how to get information.

Cons

There are many limitations to using this product as far as formatting and amount of info used in a single report.

Prophix Review

One-source place for data. Budgeting/forecasting and financial statements

Pros

The software is flexible. Allows you to have multiple versions and multiple cubes

Cons

Sometimes the software is slow in generating reports

Solid, time saving software

Pros

Personnel planing was the biggest win so far. Just completed the first month of Financial Reporting and it will save us 2 days a month going forward.

Cons

Integration was painful, but you learn more when you do it yourself right?

Prophix Review

Exciting

Pros

The ease of use and customer service staff.

Cons

Constant changes with out the reminder to update

Prophix

So far Prophix has been great and easy to use.

Pros

The ease of use of ad hoc reporting is great. I also like that you can build templates and reports that are frequently used to save time

Cons

The cloud implementation was not as smooth as expected

Easy to use budgeting tool

Pros

I do like how easy it is to use. I had very little training but was able to learn very quickly on my own and run the software as the admin all on my own. I also love how easy it is to create an ad hoc report.

Cons

The only thing I do not like is the fact it does not integrate easily with our financial system so we cannot get actuals into Prophix. This could be our own fault though as we have not switched over to the cloud.

Complex, but valuable

It's been instrumental in changing the way we look at our business.

Pros

The myriad ways in which you can look at your data, the streamlining of reporting and budgeting processes.

Cons

The learning process. Because this software has so many features, it takes dedication to figure out how to use it to it's potential.

Prophix for Budgeting

Great price and the Helpdesk has been prompt and wonderful every time I have needed them. Dynamic information and ability to drill to specified levels of information. I think if we had a full team or at least an employee who's full time job was to manage and maintain this system it would be great.

Pros

It is dynamic and multidimensional, as someone who uses it regularly with IT experience, I find it to be a good tool. I like that we can add comments and Line item details to our Budgets and flow information through our versions if need be.

Cons

Many of our managers do not use our system regularly since the Product can be a little confusing for end users that are not in the IT or accounting world. Sales Managers find it difficult to remember what steps/versions they should be using. Also, it looks similar to Excel but the screen is smaller and the system has many quirks when trying to build templates, especially when involving formulas.

Reports

Pros

The software is user friendly and allows you to generate amazing reports with accuracy

Cons

Nothing the support team instantly helps

Easy to use, easy to administer, easy to configure

Easy administration of Income Statement mapping from an otherwise onerous GL system.

Pros

Software is great to work with - very user friendly administration portal. Templates make for great re-use of information, with easy changes to named-sets (variables).

Cons

Nothing - great system - the more you maintain it, the more you can get out of it.

Prophix Review

Pros

The user friendly interface and ad hoc reporting capabilities

Cons

The onboarding process was tough and was not always the most straight forward

Prophix Review

Their consultants / client service team are very knowledgeable and always provide timely support!

Pros

As long as all the cubes, modules and formulas are set up in Prophix, there is no worries about someone will accidently changes them. Those accidents easily happens for Excel models.

Cons

Some formulas are not flexible as Excel. For instance, it is hard to apply seasonality for sales forecast.

Prophix Review

Overall experience so far has been outstanding. The team is supportive and very knowledgeable. Always thinking outside the box to find a solution.

Pros

It's transformational. Our process was completely manual utilizing Excel. The power, flexibility and intuitiveness will change the way we budget, forecast, re-forecast and plan for the future

Cons

Reporting - need to add functionality that easily allows you to take an existing report and replicate the model without having to re-select each account or group.

Budget your Expenses and Revnue with Prophix Software

Prophix Software is very detailed, allowing you to budget month by month. I have been using it for my budgets for 2 years now, and it has worked for me and my company in detailing several rounds of budgets each year.

Pros

Prophix Software enables our finance team to enter and coordinate budgets for the entire company. We all can go into it at any time to see how much we have budgeted for a given project or department in a given time frame.

Cons

When you have a lot of different people entering and approving budgets, it is hard to know when your budget was changed and by whom. So, you may go into the software thinking your budget is one number and another number shows up, without really knowing why.

Early implementer but so far the Prophix team has been there every step of the way.

This was a welcome replacement of two separate unsupported software packages.

Pros

I really like the flexibility and ability to get all of our financial reporting, budgeting, KPI data on one platform.

Cons

Still new to the software, so i have no major issues yet that aren't attributable to end user error.

12YearProphix User_Review

Budget Planning and Analysis

Pros

Ease of use. Little learning curve. Stable and reliable.

Cons

Licensing and User Roles is confusing for users.

Viewpoint One and Prophix

friendly and very helpful staff

Pros

functionality and flexibility, multiple cubes and user specific access and security

Cons

integration can have issues from time to time

Very Powerful Tool!

Pros

There is a ton of power in Prophix and the data models. We are moving away from excel in our finance team and will hope to become much more analytical rather than just producing reports.

Cons

Can be a little complicated to run and administer processes but they are improving that as well.

Great Software for a small or mid size company

Pros

Ease of use. Looks very nice. Data integration is easy. Formulas are easy to use as they are very excel like.

Cons

Complex statistical analysis is difficult and you would still need sql or R to do the heavy lifting. However, the end results can be displayed in Prophix which was ok for my company

Good analytical software

Pros

compatible with microsoft sql & analytical products like Excel, PPT Capable of running high frequency ratios/metrics

Cons

on sql server or flat files data can be integrated into the software for analytical purposes Small scale system, still needs to be enhanced further

Good product, room for improvement

Product concepts are great. Detailed planning module is separate from budget module which creates good security for segregation of duties. I have been using Prophix for budgeting since Priphix Enterprise. However, software displays are not very user friendly. It's difficult for users who take part in budget once or twice a year to remember the icond that lead to different views and functionality. I have got too many user requests to be re-trained every year. So I decided to distribute template in Excel then upload back to Prophix.

Great Customer Service

Pros

The interface is very user friendly. It has a ton of options but is not overwhelming and it's easy for someone with minimal training to use.

Cons

There are no cons with Prophix Software.