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About Prophix
Prophix is a financial management solution used for financial consolidation, budgeting, analysis, planning and management reporting. The solution provides a spreadsheet-style interface that helps users to analyze financial data and organize information. Prophix can be deployed both cloud and on-premises and is suitable for a range of industries such as financial services, construction, government, and utilities.
Prophix lets users manage information such as budgeting requirements, cash flow, balance sheets and income statements. Data analysis tools are also available. The solution supports both non-financial and financial budgeting, including top down, bottom up, zero-based and activity-based methodologies.
The solution offers multiple modeling options for forecasting such as inter-period forecasts, "‘what-if" analysis and rolling forecasts. It also provides modules for saving personnel records, such as salary, medical expenses and tax calculations.
Support is offered via phone and email.
Prophix pricing
Prophix does not have a free version but does offer a free trial. Prophix paid version starts at US$1.00.
Starting Price:
US$1.00
Free Version:
No
Free trial:
Yes
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Prophix Reviews
Feature rating
5 reviews of 100
View all reviews
Philip
- Industry: Nonprofit Organisation Management
- Company size: 201–500 Employees
- Used Daily for 6-12 months
-
Review Source
Value for Money
5
Features
4
Ease of Use
4
Customer Support
5
5
Reviewed on 27/09/2020
Great Customer Service
Overall it has gone very well. I have learned a lot. The customer service has been sincere and helpful. Data integration is daily and report consolidation is easy to do.
Pros
The consultation and training was excellent. The data management is simple and effective. Easy to browse from different modules and pages. The knowledge bank is large and there is a large customer resource pool.
Cons
Some of the graphs and charts have limited accessories and capabilities. Learning curve was high, but this may be the nature of the software.
Reasons for Switching to Prophix
Larger customer reference pool. Confidence based on size and history of the company.
Luke
- Industry: Law Practice
- Company size: 1,001–5,000 Employees
- Used Daily for 1+ year
-
Review Source
Value for Money
4
Features
4
Ease of Use
4
Customer Support
4
4
Reviewed on 31/01/2023
Solid product requiring ongoing time commitment
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.
Verified Reviewer
- Industry: Oil & Energy
- Company size: 51–200 Employees
- Used Daily for 2+ years
-
Review Source
Value for Money
4
Features
5
Ease of Use
4
Customer Support
4
5
Reviewed on 23/08/2024
The best Financial Performance Platform!
Pros
Budget process streamlining. Ability to easily switch from month to month for reporting purposes.
Cons
Implementation took longer than planned for both implementations I have done.
Aaron
- Industry: Consumer Goods
- Company size: 201–500 Employees
- Used Daily for 1+ year
-
Review Source
Value for Money
4
Features
3
Ease of Use
4
Customer Support
5
3
Reviewed on 1/09/2024
Prophix is great for getting started with budgeting!
Prophix was a solid program, just had a few big issues and were tough to work through during a growing time in our company
Pros
Prophix was very user friendly for budget holders, and had a great line item schedule that allowed budget holders to put in necessary details to remind them where they left off in quarterly cycles
Cons
Prophix would break a lot and fail pulling in data from the erp. Refreshing the data would take up to 12 hours sometimes, making it very hard to make updates and see the impact quickly
Amanda
- Industry: Insurance
- Company size: 1,001–5,000 Employees
- Used Daily for 1+ year
-
Review Source
Value for Money
5
Features
5
Ease of Use
4
Customer Support
5
5
Reviewed on 30/12/2019
Plethora of Options
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.
