Prophix - Great budgeting tool
August 18, 2017

Prophix - Great budgeting tool

Neal Bayless | TrustRadius Reviewer
Score 8 out of 10
Vetted Review
Verified User

Overall Satisfaction with Prophix

Prophix is great, and the customer service is impeccable. The only issues we have is how long it takes sometimes. 10-15 minutes to maneuver to a different budget version seems a bit long.
Prophix is being used in our organization mainly for budgeting, but also for monthly managerial ad-hoc reports. It is used mainly by finance, but also by HR during budget season for data input. It addresses many of our budget issues.

Pros

  • In the analytics aspect, the ad-hoc analysis allows us to drill down and really allows for specific general ledger budgeting.
  • The template designer/template studio is very helpful when doing monthly reports.

Cons

  • It takes a really long time to switch versions within the ad-hoc analysis, the time it takes is extremely annoying. Sometimes it can be 10-15 minutes to open different parts, depending on how large the version is.
  • The "help" tab is not the most user-friendly when trying to learn the different commands.
  • Our budgeting process is definitely more streamlined with Prophix. It has had an extremely positive impact during the budget, especially with the capital expenditure budgeting.
It's been 7 or 8 years since we used a similar product to Prophix, we switched to Prophix due to the overall budget capability and have not been disappointed.
It's the best option we have used for budgeting; you just have to get used to how long it takes to open different areas of the data.

Prophix Feature Ratings

8.2
Long-term financial planning
8
Financial budgeting
8
Forecasting
8
Scenario modeling
8
Management reporting
9
7.0
Financial data consolidation
7
Journal entries and reports
Not Rated
Multi-currency management
Not Rated
Intercompany Eliminations
Not Rated
Minority Ownership
Not Rated
Local and consolidated reporting
Not Rated
Detailed Audit Trails
Not Rated
8.3
Financial Statement Reporting
8
Management Reporting
8
Excel-based Reporting
9
Automated board and financial reporting
Not Rated
7.0
Personalized dashboards
7
Color-coded scorecards
7
KPIs
Not Rated
Cost and profitability analysis
7
Key Performance Indicator setting
Not Rated
Benchmarking with external data
Not Rated
8.0
Flat file integration
Not Rated
Excel data integration
7
Direct links to 3rd-party data sources
9
BI Standard Reporting ()
Not Rated
Ad-hoc Reporting ()
Not Rated
Report Output and Scheduling ()
Not Rated
Data Discovery and Visualization ()
Not Rated
Access Control and Security ()
Not Rated
Mobile Capabilities ()
Not Rated

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