Prophix is the best corporate performance management tool for Crystal & Company
Updated December 07, 2017
Prophix is the best corporate performance management tool for Crystal & Company
Score 8 out of 10
Vetted Review
Verified User
Software Version
Prophix 11
Modules Used
- Performance Management
Overall Satisfaction with Prophix
We use Prophix as our primary financial reporting tool. This includes all aspects of the financial reporting and management; budgeting, forecasting and performance management. In addition, we rely on Prophix as a substitiution tool for general ledger journal entries to allocate revenues and expenses throughout our oragizational divisional and departmental structure.
Pros
- Prophix software is a unified solution for our financial reporting needs. It is relatively easy solution to implement, cost effective and requires little upkeep maintenance.
- Prophix has an excellent detailed planning management tool that allows us to easily account for our personnel budget and forecasting needs, fixed assets, and other balance sheet items.
- Prophix has a line item detail feature that enables us to analyze down to the lowest detail level for our ease of financial and account reporting.
- We are able to easily create multiple templates for financial reporting and answer the needs for our many individual business units.
- Excellent tool to manage the workflow for the budget process.
Cons
- Prophix has done an excellent job of continuous improvement of their product. They have addressed almost all of our concerns and issues over the 6+ years we have been on the product. Prophix can still improve performance when using large sets of data dimensions and multiple shared dimensions.
- Enhancement to system to manage the complete accounting close workflow process.
- We have gained incredible efficiences utilizing Prophix for all of our financial reporting, budgeting and forecasting processes.
- We are able to more quickly and accurately complete our month end financial reporting requirements, which allows us to spend more time analyizing the details and do a deeper dive into our key performance issues.
- Our whole organization is better served with quick and easy access to their individual profit center results.
- Adaptive Insights, SAP Business Objects and IBM Cognos
Easier to implement, cost effective and user friendly.
Prophix Feature Ratings
Using Prophix
60 - They cross multi business functions within Crystal & Company; from operations to business units.
3 - Licensed administrators of the system and subject matter experts within the variuos financial models established within the program.
- Financial reporting
- Budgeting and forecasting
- Personnel management
- Integrating our personnel planning with budgeting and forecasting
- Creating entity financial package in lieu of general ledger coding
- Allocation of revenues and expenses across 400+ profit centers.
- multi year financial forecast modeling for balance sheet and income statements
- KPI modeling and dashboard reporting
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