Prophix
About Prophix
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.
Key benefits of Prophix
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- Industry: Machinery
- Company size: 201–500 Employees
- Used Daily for 6-12 months
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Review Source
Overall rating
- Value for Money
- Ease of Use
- Customer Support
- Likelihood to recommend 9.0 /10
Prophix can be a game changer.
Reviewed on 2022/05/26
Overall experience with Prophix has been very favorable. This tool has been a game changer for not...
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.
Reasons for Switching to Prophix
Service, features and price.- Industry: Law Practice
- Company size: 1,001–5,000 Employees
- Used Daily for 1+ year
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Overall rating
- Value for Money
- Ease of Use
- Customer Support
- Likelihood to recommend 7.0 /10
Solid product requiring ongoing time commitment
Reviewed on 2023/01/31
Overall, Prophix has been an upgrade over our last planning tool. It's very flexible and if you...
Overall, Prophix has been an upgrade over our last planning tool. It's very flexible and if you devote the time, it can create great value. You have to devote the time though, both at the outset and throughout the use of the tool. This is a hands on tool, requiring updates for when new members (accounts, offices, departments, etc) are added and for when periods change. Sometimes I feel overwhelmed, partly because we didn't set up various reports correctly and our 80+ users are using a myriad of reports. In other words, I find myself redoing things often. I think there could have been better guidance up front and throughout the implementation. Budgeting in the tool is easy for our team and users outside of finance. Forecasting can be challenging as it's hard to marry up actual YTD detail and forecast YTG detail. Reporting is solid and once you get the hang of templates, they are customizable and easy to crank out.Performance is good and we haven't experienced any extended periods of the product being down.
Pros
I like that the tool is easy to use once you get it set up. It's flexible and very customizable.The consultants and our current CSM are friendly and genuinely seem to care about our success, whether the product works properly or not. They try to find workarounds and are good communicators. Budgeting and forecasting are easy and effective once you get the hang of it. The personnel planning aspect is very valuable. Reporting is great once you figure out templates, which can take a while.
Cons
We've had consultants provide bad guidance; how to set up and input currency, how to build personnel planning, how to set up versions, etc.Line item detail (LID) for budget input leaves a lot to be desired; it's hard to retrieve and/or view a detail report, there are reconciling lines that populate automatically, adding a line item one year adds it to prior years for the same version. They have supposedly been working on LID improvements but I have yet to see it in 1.5 years with the product.
Reasons for Choosing Prophix
existing tool failing and limited supportReasons for Switching to Prophix
Friendly people and believable pitch. They weren't pushy and didn't rush us into anything like some of the others.- Industry: Apparel & Fashion
- Company size: 1,001–5,000 Employees
- Used Daily for 2+ years
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Overall rating
- Value for Money
- Ease of Use
- Customer Support
- Likelihood to recommend 7.0 /10
User friendly
Reviewed on 2023/09/11
Our experience is good overall
Our experience is good overall
Pros
The integration was easy and it is fairly easy to create reports.
Cons
Some functionalities works only with the Workflow function which is not useful for us, being only a handful of users. Need to go through the Support team to get the Data Integration to work properly with the format in the file every time we make changes.
- Industry: Insurance
- Company size: 1,001–5,000 Employees
- Used Daily for 1+ year
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Review Source
Overall rating
- Value for Money
- Ease of Use
- Customer Support
- Likelihood to recommend 10.0 /10
Plethora of Options
Reviewed on 2019/12/30
Prophix is the best planning and expense analysis software I have seen. It has allowed me to...
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.
- Industry: Banking
- Company size: 51–200 Employees
- Used Daily for 2+ years
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Review Source
Overall rating
- Value for Money
- Ease of Use
- Customer Support
- Likelihood to recommend 7.0 /10
Prophix is a Good Value for a Ad Hoc and Reporting Engine
Reviewed on 2022/12/26
Prophix gives us a single source database for our financial results with powerful, flexible query...
Prophix gives us a single source database for our financial results with powerful, flexible query capability
Pros
Daily integration with our general ledger
Cons
Building and customizing reports is not straightforward
Reasons for Switching to Prophix
It was a better value and the team seemed more engaged and innovativeProphix FAQs
Below are some frequently asked questions for Prophix.Q. What type of pricing plans does Prophix offer?
Prophix offers the following pricing plans:
- Starting from: US$1.00
- Free Trial: Available
Contact Prophix for detailed pricing information.
Q. Who are the typical users of Prophix?
Prophix has the following typical customers:
2–10, 11–50, 51–200, 201–500, 501–1,000, 1,001–5,000
Q. What languages does Prophix support?
Prophix supports the following languages:
English
Q. Does Prophix support mobile devices?
Prophix supports the following devices:
Android (Mobile), iPhone (Mobile), iPad (Mobile)
Q. What other apps does Prophix integrate with?
We do not have any information about what integrations Prophix has
Q. What level of support does Prophix offer?
Prophix offers the following support options:
Email/Help Desk, FAQs/Forum, Knowledge Base, Phone Support, 24/7 (Live rep), Chat
Related categories
See all software categories found for Prophix.
- Business Budgeting Software
- Business Performance Management Software
- Strategic Planning Software
- Financial Reporting Software
- Sales Forecasting Software
- Analytics Reporting Software
- Accounting Software
- Project Accounting Software
- Financial Close Software
- Medical Accounting Software
- General Ledger Software
