Prophix

Avantages

This product makes our monthly reporting so easy. You can create so many monthly reports to quickly conduct analysis and reporting to end users

Inconvénients

The only negative that is just takes time to fully know the capabilities of this product. They have a lot of training, are willing to help with what you want to do but just difficult sometimes with having your regular duties as well

Avantages

The end product/reports that are produced.

Inconvénients

The process of implementing and creating report templates.

Avantages

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

Inconvénients

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

Avantages

Cloud Based - don't have to send out P&Ls to all departments anymore
Budget - everyone is using the same template and it auto consolidates it all. no more manual work in spreadsheets
One central source of data, no longer worrying about different spreadsheets saying different things and having to link or update the data in all of them.

Inconvénients

Report Binder requies duplicate versions of reports

Alternatives envisagées 

Pourquoi passer à Prophix

Avantages

Ease of use, simple to learn and to share with budget holders, saves time at month end and improves accuracy.

Inconvénients

Nothing, even the time difference if we had to have a call with Canada is not an issue

Avantages

I really liked the way the data integrates, its easy-to-use interface, and the robust data security measures.

Inconvénients

I find the visual options, such as graphs and dashboards, quite archaic compared to specialized software dedicated to these features.

Avantages

The flexibility and availability of having several users at the same time.

Inconvénients

It can get slow when many users are writing to it

Avantages

I found Prophix to be very intuitive FP&A software with average maintenance requirement.

Inconvénients

Manual updates (attaching templates one by one, instead of mass update) on budget workflows.

Avantages

The system is easy to use. Using ad-hocs can be easy to find data quickly. The reporting feature is good, you can throw a report together fairly quick.

Inconvénients

Charting capabilities and dashboard creating is lackluster.

Avantages

Ease of use, support and customizability

Inconvénients

Sometimes can be slow processing times when working with large amounts of data

Avantages

Prophix is very easy to use. As someone who has never used it before, I was able to quickly pick up on how to use it, functionality, etc.

Inconvénients

Data imports from other systems are slow and clunky

Avantages

The detailed levels of reporting and the ability to combine many different levels for analysis.

Inconvénients

The price, it is an expensive product. Also it does require some technical knowledge to navigate new reports. Luckily customer support was very helpful when designing new reports.

Avantages

Ease of use by non-accounting users. Also like the customizability of reports

Inconvénients

Sometimes (especially this year), there have been issues with integrating to our G/L.

Avantages

Prophix software makes budgeting and reforecasting a breeze.

Inconvénients

It can sometimes be hard for a user to understand/learn.

Avantages

The product is simple to use, to is mostly intuitive.

Inconvénients

There are some bugs still to be worked out and I wish certain features did not require the more complex MDX function in order to work properly.

Avantages

With Prophix it is easier to group data and financial reports. The interface is very practical with very good features

Inconvénients

prophix works very well for me I haven't had any complications yet

Avantages

The ability to be able to forecast and slice and dice data is key in financial and program review. Also, the ability to report on both financial and non financial metrics in one Report and dashboard is an amazing feature.

Inconvénients

I would like to see the reporting be more enhanced like Dynamics management Reporter.

Avantages

- the customizability of each report and section allows the user to really feel like they're in control. There is a clear step by step process that you can follow and get whatever report you'd like out of it.

Inconvénients

There is often delays that take place during busy hours. This can be frustrating, but it is very limited to select parts of the business day.

Avantages

User friendly, able to input all levels of detail and multiple drill across options to see all details. Able to easily build complex processes and allocations.

Inconvénients

We've found that when we run into issues, we aren't always given detailed reasons as to why the issue occurred. The issue is always resolved eventually, but we'd like to know more in order to troubleshoot better ourselves. This often happens with our month-end data loads (actuals & budget).

Avantages

I love how powerful Prophix is as a reporting, analytics, and planning tool. It helps us to speed up our monthly close process, get accurate and timely reports to decision makers within the organization, and helps us prove value to our clients as well with dashboards. It is also a powerful tool for what-if scenario analysis.

Inconvénients

It is a little difficult to learn and implement at the front end, but once you get up to speed it is a very powerful tool.

Avantages

We love the ease of creating the month end financial statements, ad hoc statements, and yearly budgeting process.

Inconvénients

The process of moving from the on prem to cloud version was rough but Prophix was there to answer all our questions and resolve all issues so we are up and running now.

Avantages

Its ability to adapt and handle our non financial data without feeling like we were compromising , its logic and the transparency of the system

(I am seperate to those within our organisation who have completed the implementation of our financial data-my focus is on the non financial operational data and measures)

Inconvénients

For the operational data we opted for a flat file approach to integrating our data onto this platform so there was a lot of importing and exporting, however this was the best solution for us based on the format of our source data. We have spent a lot of time working on the structure, bringing in of data and creating the appropriate reports but I strongly believe the system is as good as the time you invest into its development for your organisation. It will be as good as what you put into it.

Avantages

Robust framework for Detailed Planning of HR, CAPEX, etc. plus ability to define workflows to support custom business processes in these areas. Also it is built on Microsoft SQL Server stack, which is ideal for our org as our other systems are based on the same and we can set up highly customized integrations using familiar technology.

Inconvénients

Updates for the on-prem deployment are a little cumbersome and involve an uninstall/reinstall, plus editing web config files if you're deploying the web client.

Avantages

I like the flexibility of this product. You can build any type of report, forecast, calculation, etc. that you want as long as you can feed data to it. I also really like the customer support - they are very helpful and responsive when their's a problem.

Inconvénients

There are some manual activities maintenance activities you need to do. I can navigate it fairly well with the documentations provided.

Avantages

As long as all the cubes, modules and formulas are set up in Prophix, there is no worries about someone will accidently changes them. Those accidents easily happens for Excel models.

Inconvénients

Some formulas are not flexible as Excel. For instance, it is hard to apply seasonality for sales forecast.