What are Prophix users saying about the software?

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.

Useful Software at a Great Price

We have automated and standardized our management and board reporting as well as our forecasting and budgeting. The Prophix system has helped us save employee time, reduce reporting cycle time, and improve our reporting accuracy.

Pros

I like how the software keeps one database of our financial results so there isn't any uncertainty about the correct numbers. The implementation process and team was great. It is really helpful that an integration was set up that loads our numbers daily from our general ledger system. Prophix has a lot of functionality for reporting. It can be customized in many ways.

Cons

Something that could improve the software is to have more standard reporting and forecasting templates pre-built so everything doesn't have to be created from scratch. The formatting when building reports is more work than I wished it would be. One thing I wished Prophix did better is to provide responsive customer service when an emergency need occurs. Their service model is built on scheduling resources and can involve a day or more wait to get help when an immediate need arises.

Prophix can be a game changer.

Overall experience with Prophix has been very favorable. This tool has been a game changer for not only the Finance department but for the organization as a whole.

Pros

Prophix can be leveraged to drive continuous improvement within a company's Finance department as well as provide actionable information to stakeholders in as simple or as complex of a fashion as needed. The flexibility granted with Prophix allowed our organization to start small using the system, for example getting consolidated core financial reporting published. From there, we have been able to build out first reporting sent directly from within Prophix and then onto automated distribution of this reporting. Next we moved Planning processes to within the system, followed by managing these processes with Workflows.

Cons

The process to set up automated data feeds from multiple ERP systems directly into Prophix is not an easy task.

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

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.

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.

Prophix - a great piece of software you need to check out!

Tremendously helpful and easy to implement

Pros

This software is so easy to configure and use. The RedCarpet online community is there to help you succeed! Other customers are there to help you out if you need it - what other software package does that?

Cons

Just that we didn't know about it sooner

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.

One Source of Truth

The Forecasting/Budgeting tool has become super important to us. Before Prophix everything was done on Excel spreadsheets by one person or at best the Accounting department. Now with Prophix we are able to get feedback from every department and in turn they have input and buy in to their Forecast/Budget.

Pros

We have come such a low way since we started with Prophix 3 years ago. It is our one source of truth for all of our reporting, forecasting and budgeting. It allows us to have at your finger tip reporting for anyone on the system. It also allows us to set up security for users so they only see what is needed.

Cons

Really cannot think of anything bad at this point. Prophix is very good about taking suggestion from their customers on how to improve the system.

Everyday user

Pros

I like being able to pull an ad-hoc report. It's quick access to expenses, revenues, and employee wages. When questions are asked due to increases/decreases, answers can be quickly procured.

Cons

Reporting is difficult to me, but I don't think this is the feature of the software. There are many facets to creating a report and repetitive reporting will ensure I can continue building this strength.

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.

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

Prophix

We use Prophix for all of our financial reporting as well as our forecast/budgeting process. We've been able to streamline our forecast and budgeting process using templates and workflows that we release to owners of each of our products and lines of business. This simplifies the process for our team to consolidate all submissions and easily report on the totals. We utilize the allocation process to allocate administrative expenses down to a product/line of business and are able to build complex processes to do so. Additionally, we use the DPM functionality for our headcount budgeting for 5000+ employees.

Pros

User friendly, able to input all levels of detail and multiple drill across options to see all details. Able to easily build complex processes and allocations.

Cons

We've found that when we run into issues, we aren't always given detailed reasons as to why the issue occurred. The issue is always resolved eventually, but we'd like to know more in order to troubleshoot better ourselves. This often happens with our month-end data loads (actuals & budget).

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

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.

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 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.

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.

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.

Flexible Reporting Tool

Pros

Prophix is user friendly and reduces the amount of time it takes to get the info needed. Reporting capabilities (reports/adhoc) allows for quick analysis and we are able to use it in a multi-currency environment. Great for reviewing variances year over year or budget vs actual.

Cons

Creation of templates with multiple data views can be challenging and larger templates with multiple data views sometimes can take a long time to open.

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.

FP&A Guide to Complete Effectiveness

Overall, I would say that the FP&A team will be completely revolutionized in the upcoming 2-3 years as we implement Prophix methodology to all our external reports and can add value for all stakeholders in and out of the organization.

Pros

- the customizability of each report and section allows the user to really feel like they're in control. There is a clear step by step process that you can follow and get whatever report you'd like out of it.

Cons

There is often delays that take place during busy hours. This can be frustrating, but it is very limited to select parts of the business day.

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.