Automate & streamline corporate performance management
4.5/5 (33 reviews)Prophix is a corporate performance management (CPM) software which allows organizations to automate and integrate their planning, budgeting, forecasting, financial consolidation, and reporting activities on a single platform. The platform harnesses data for richer, more relevant analysis, while improving operational efficiencies and providing visibility into all levels of the organization.
Prophix enables organizations to automate their budget submission and review process with improved accuracy by pulling data directly from the G/L (general ledger). Users can get a true depiction of personnel costs by employee and by department for planning purposes and automate important calculations. Prophix helps identify revenue trends and enables users to create alternative scenarios to determine the best courses of action. Additional planning capabilities include cash flow planning, capital expense planning, and integrated financial planning.
The solution includes self-serve dashboards and visualizations that integrate directly into data. Users can measure and monitor performance, as well as create reports and charts to drill into detailed data. Visual and tabular navigation features allow users to surface key data and insights more intuitively. Profitability analysis helps organizations discover which products, channels, services, or customers should be maintained, adjusted or discontinued.
Prophix automates repetitive business processes such as allocations, data imports, consolidation, and currency conversion and ensures that organizations adhere to applicable standards and policies. The platform integrates with data directly from multiple sources using built-in account mapping features. Workflow and collaboration features allow users to assign tasks and facilitate approvals from stakeholders.
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.
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.
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.
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.
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.
Contact Prophix for detailed pricing information.
Below are some frequently asked questions for Prophix.
Prophix offers the following pricing plans:
Pricing model: Subscription
Free Trial: Not Available
Contact Prophix for detailed pricing information.
Prophix offers the following features:
Prophix has the following typical customers:
Large Enterprises, Mid Size Business, Small Business
Prophix supports the following languages:
English
Prophix has the following pricing plans:
Subscription
We do not have any information about what devices Prophix supports
We do not have any information about what integrations Prophix has
Prophix offers the following support options:
Forum, Knowledge Base, Online Support, Phone Support
