Prophix Reviews

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.

Pros

We love the flexibility of Prophix. We have been able to analyze all aspects of our financials at a finer details and much easier than just with Excel. Salaries are our largest expense and before Prophix, analysis was cumbersome and time consuming. Now, with Prophix, we are able to easily explain budget vs actual variances in a very timely manner. We are also more easily able to analyze unit and rate variances for our programmatic revenues.

Cons

I cannot think of anything at this time.

Pros

This software is easy to use and administer and provides all the functionality that we needed for a fraction of the price of some of the other systems. Offers on-prem (with cloud access) or cloud only. Great for planning and consolidating across a distributed organization. Handles multiple locations/currencies/ERP's seamlessly. Ability to establish connection to other systems and run regular imports. We have been able to use this system for our consolidated financial reporting. The DPM module allows us to build out HR Cost projection at a very granular level to increase accuracy and quality of our forecasting and budgeting. It is very flexible and the customer success team is always looking for ways to improve the product and help you utilize it to its full potential.

Cons

The formatting of templates and reports can be a little quirky and there are some limitations with using Excel based formulas but nothing insurmountable.

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.

Pros

I like the ease of this software. I started my position at a time where I did not get much, if any, training in Prophix. I found it very easy to use and felt like an expert after about a month of teaching myself the functions. It has been great.

Cons

I do not like the detailed planning model. It is very easy to use but unfortunately it does not integrate well with our financials system. We cannot split out salary, taxes, merit increase, etc when running an ad hoc which makes it a little complicated at times when trying to explain increases to department heads.

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.

Pros

This software provides a million+ ways to look at data due to it's "cube" design, which means endless possibilities for analysis. It has also streamlined our budgeting and reporting processes tremendously.

Cons

Because there are endless ways to look configure data and reports, it takes a ton of dedicated time to learn all of the tricks of the software. It also takes time for end users to learn and get used to it.

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.

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.

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.

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.

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.

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.

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.

Pros

Prophix allowed us to have all of our Financial data in one location instead of having it in multiple spreadsheet in multiple departments.

Cons

The one challenge that we have had is adding data connections to pull in data. Having said that though, Prophix is very good at offering assistance in this area.

Pros

Great reporting functionality
Great customer support
Developers listen to users and are great about introducing new, helpful features regularly

Cons

Difficult to learn
Mastery is difficult to achieve

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.

Pros

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

Cons

Sometimes the software is slow in generating reports

Pros

The ease of use and customer service staff.

Cons

Constant changes with out the reminder to update

Pros

The ease of use for ad hoc reporting and forecasting

Cons

Cloud implementation has not been smooth

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.

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.

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.

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.

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.