Prophix Mining, Quarrying, and Oil and Gas Extraction Reviews & Insights

Score8.3 out of 10

308 Reviews and Ratings

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Prophix

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Overview

Synthesised from 6 reviews | Last Published May 26, 2026

Prophix is primarily used by organizations for core financial planning, budgeting, and forecasting, addressing business problems related to streamlining annual financial cycles and providing accurate projections. In TrustRadius reviews, users highlight its effectiveness in data consolidation, particularly across multiple ERP systems, enabling a unified financial view and automating report generation. It supports both strategic planning and operational financial management, with capabilities extending to detailed variance analysis for department leaders.

Reviewers also noted positive impacts such as faster month-end close processes and improved forecasting, contributing to better decision-making and strategic agility. However, some users encountered challenges with reporting and design flexibility, while others reported performance and speed issues. Data integration difficulties and formula limitations were also cited. Overall, Prophix is seen as a valuable tool for enhancing financial processes and transitioning from Excel-based systems, despite areas for improvement in usability and technical performance.

Pros

Streamlines budgeting and forecasting processes effectively
Consolidates financial data from multiple ERP systems
Provides comprehensive reporting and dashboarding capabilities
Facilitates transition from Excel-based planning to web-based
Reduces errors and improves data accuracy in financial planning

Cons

Challenges with reporting flexibility and design tools
Performance and speed issues reported during certain processes
Difficulties with data integration and granular access
Limitations in formula functionality
Steep initial learning curve for some users

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Prophix Reviews

5 Reviews

Mining, Quarrying, and Oil and Gas ExtractionMining & Metals3Oil & Energy2

Prophix review

Rating: 9 out of 10

Incentivized

July 3, 2025

Use Cases and Deployment Scope

Prophix is used as budget planning and consolidation tool within our organization. It is aimed to provide smooth budgeting process through different rounds of submission while ensuring robust data accuracy. We have used the tool at our team as a consolidation point and that can run our consolidation model and potentially connect to all of our other site's team Prophix model in the future

Pros

able to create automation process that allows uploading data in a fast manner
have a large "how to" library that is very helpful for beginners
the support team is always on point to provide real time answers

Cons

would be great to edit/add dimensions to cubes after they have been published
would be nice to have options to edit multiple dimension attributes at once
ability to connect to powerBI

Likelihood to Recommend

the Prophix is well suited for any budget related exercises, however, may not be best suited for building costing models where it would involve many ad hoc changes on rolling basis. For ad hoc changes, excel is still more flexible than Prophix models due to its less restrictions in nature

Verified User

Employee in Finance and Accounting (Mining & Metals company, 5001-10,000 employees)

Vetted Review

1 year of experience

Prophix for Forecasting and Budgeting

Rating: 7 out of 10

Incentivized

June 12, 2025

Use Cases and Deployment Scope

We use Prophix in our organization for consolidation purposes (multiple ERP systems). This allows us to consolidate results from multiple ERP systems/account structures into a single chart of accounts. We also utilize Prophix for sales forecasting and budgeting purposes. This allows us to streamline the forecasting and budgeting process and compare multiple versions (vs budget, vs prior forecast, vs actual, etc.).

Pros

Consolidations
Forecasting
Budgeting

Cons

Ease of Integration
Customer / Technical Support
Ease of report building

Likelihood to Recommend

Prophix is well suited for companies that want the flexibility to build reporting and or forecasting/budgeting from scratch, as there is a lot of flexibility with the tool in ad-hoc reporting and analysis. However, the initial setup has been difficult in my experience, and there are not much "out of the box" functionality - it must be built and customized to your specific needs.

Verified User

Director in Finance and Accounting (Mining & Metals company, 1001-5000 employees)

Vetted Review

5 years of experience

ROI - Rate of Irritation?

Rating: 9 out of 10

Incentivized

August 11, 2017

Use Cases and Deployment Scope

In the past we have used Prophix for end of month and budget reporting. Currently, I am not using it because of industry-related staff reductions. Finance has been the sole user of Prophix. 2/1/19 Update I plan to dust off Prophix and get back into the Personnel Planning module in 1Q19. Lots of features that I want to explore and use for forecasting purposes.

Pros

The various dimensions allow you to "slice and dice" your data with great efficiency.
The modeling functions are very helpful, whether planning for personnel or CAPEX.
The Ad hoc reporting has been especially useful for quick reports.
The functionality seems limitless. If you able to allocate resources to maximize Prophix you will not be disappointed; however, it does require some formula prowess to achieve results.

Cons

Part of the reason I am not currently using Prophix is the process to import the data from my ERP.
Mastering the functionality of the software takes time.
For me, I need to be in Prophix almost daily to build proficiency.
Update- this still holds true.

Likelihood to Recommend

Prophix shines with its Personnel Planning Model. Once setup, the manipulation of parameters are excellent for evaluating the cost of personnel in unlimited scenarios. The budgeting and forecasting are particularly helpful.

Danny Jordan

Vice President Finance/Chief Financial Officer in Finance and Accounting at K&B Industries (Oil & Energy, 201-500 employees)

Vetted Review

3 years of experience

View profile

Insight into Prophix

Rating: 9 out of 10

Incentivized

August 11, 2017

Use Cases and Deployment Scope

The main users of Prophix are in the Financial Planning & Analysis department with little to no access from across the business. We mainly use Prophix to publish our month end reports for actual results as well as use it for forecasting and budgeting on a driver / KPI basis, up to a certain extent.

Pros

Almost no IT interference is needed except for the initial setup.
Ease of use with drop down menus
Great customer support.
Product constantly improving.

Cons

The Excel add-on could be improved to be able to pull multiple views into one tab as currently, it can only pull one view to one tab.
There could be more flexibility with the formulas in the accounts dimension to be able to only point to specific members in another dimension instead of all the members.,

Likelihood to Recommend

It is a flexible tool for consolidation that can introduce lots of efficiencies and help drastically decrease the errors vs Excel based budgeting.

It helps to slice and dice the information to help with the needed analysis.

Sometimes the communication between departments may not be at the optimal level and Prophix helps increase the integrity of the results by calculating numbers that different departments feed the variables into. So even though one department may be unaware of a change in a number, Prophix may perform the calculation having those both accounts and preserve the integrity of the data.

Verified User

Manager in Finance and Accounting (Oil & Energy company, 1001-5000 employees)

Vetted Review

3 years of experience

Prophix - An awesome solution for reporting and budgeting

Rating: 10 out of 10

Incentivized

July 23, 2014

Use Cases and Deployment Scope

We began using a former Prophix product Enterprise, in 2007. We then implemented the SQL version of their product, Prophix 10 in 2010. We upgraded to Prophix 11 in April 2014 as well as previous minor updates as they were released. We utilize this product for Budgeting, Forecasting, Financial Reporting, Reporting of Sales detail information, and personnel planning. We import statistical information such as unit volume data related to production and sales. We have incorporated calculations with statistical and financial information and incorporated it in our reports.

Prophix is utilized by all areas of our company including key operational employees. We have 35 users who have varied levels of security access and who review their financial results consistently. We utilize a workflow process within Prophix for our budgeting and forecasting processes. This is an excellent software application that has worked very well for our company. Because of the flexibility of the product, you can create any report that you require. Set up properly, they will update with changing variables such and new reporting periods. I highly recommend Prophix.

Pros

Financial Reporting, Reports are easily accessed by users. We have drill down capability with the account balances so users can view transaction detail. We recently added the ability to view AP invoice images with this view so users can access these images from the transaction view. Users can also add and view comments added to balances.
Report binders or groups of reports can be set up and distributed with ease. This is useful when reports are distributed on a monthly basis such as monthly Financial Reports.
The workflow process allows a Financial Budget organizer to assign tasks to specific users and manage their participation in the budgeting process.
We have data set up in multiple cubes based on the structure of the data. We can create reports for a specific cube or pull data from multiple cubes into reports.
Alternate hierarchies can be set up for the organization dimension to provide enhanced flexibility for reporting.
Data is easily imported. We have processes set up and scheduled for automatic updating as well as less frequent imports from excel files.

Cons

Prophix does a very good job of utilizing customer suggestions for future upgrades and improvements.

Likelihood to Recommend

The ability for Prophix to be solely managed in the Finance department was a key factor when selecting this product. Our IT department was only minimally required during the implementation which allowed Finance to set the pace. Additionally, the cost of this product as compared to competitors and compared to the quality of this application vs. the others, Prophix was a clear winner. We evaluated 3 other applications initially in 2007 and 4 others in 2010.

Janet Thomas

Controller in Finance and Accounting at Consolidated Systems, Inc. (Mining & Metals, 201-500 employees)

Vetted Review

7 years of experience

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Prophix - An awesome solution for reporting and budgeting

Rating: 10 out of 10

Incentivized

July 23, 2014

Use Cases and Deployment Scope

Pros

Financial Reporting, Reports are easily accessed by users. We have drill down capability with the account balances so users can view transaction detail. We recently added the ability to view AP invoice images with this view so users can access these images from the transaction view. Users can also add and view comments added to balances.
Report binders or groups of reports can be set up and distributed with ease. This is useful when reports are distributed on a monthly basis such as monthly Financial Reports.
The workflow process allows a Financial Budget organizer to assign tasks to specific users and manage their participation in the budgeting process.
We have data set up in multiple cubes based on the structure of the data. We can create reports for a specific cube or pull data from multiple cubes into reports.
Alternate hierarchies can be set up for the organization dimension to provide enhanced flexibility for reporting.
Data is easily imported. We have processes set up and scheduled for automatic updating as well as less frequent imports from excel files.

Cons

Prophix does a very good job of utilizing customer suggestions for future upgrades and improvements.

Likelihood to Recommend

Janet Thomas

Controller in Finance and Accounting at Consolidated Systems, Inc. (Mining & Metals, 201-500 employees)

Vetted Review

7 years of experience