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

Eine Software in der man sich sehr gut einarbeiten kann und man in kurzer Zeit insbesondere in der Planung das ganze Unternehmen einbinden kann. Das Workflow Modul ist genau was wir benötigt haben.

Inconvénients

Die visuelle Flexibilität fehlt manchmal im Reporting, aber die Roadmap laut Hersteller hat das auf der Agenda.

Alternatives envisagées 

Pourquoi passer à Prophix

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

Budget process streamlining. Ability to easily switch from month to month for reporting purposes.

Inconvénients

Implementation took longer than planned for both implementations I have done.

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

Very Easy to use and user friendly with good customer support

Inconvénients

Some of the advanced functions could be more

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

Prophix made it easy to track and have dynamic numbers for the budget process.

Inconvénients

The loading times have gotten worse - for opening reports, and for the report binders.

Avantages

What I like most about Prophix is the ability to easily create reports.

Inconvénients

The least thing I like about Prophix are some of the minor glitches and slow performance when handling large amounts of data.

Avantages

Ease of use and the capability of the software. You can create Prophix to fit any business.

Inconvénients

No Cons! Prophix has really helped our company streamline our month end closing.

Avantages

Awesome product with Rich features, specially the Detail Planning manager as well as its Calculation Engine is robust and very detail oriented.

Inconvénients

the only bottleneck I find is the process engine as Prophix currently support one process at a time which at times is bothersome and causes time delays.

Avantages

Ease of use, support and customizability

Inconvénients

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

Avantages

It reduced the monthly close cycle. The reporting capabilities are very customizable and easy to setup and UI is very user friendly. Prophix also makes the budgeting process much easier to implement with the use of workflows.

Inconvénients

Creation of templates with multiple data views can be challenging specially when updating after initial design and larger templates with multiple data views sometimes can take a long time to open.

Avantages

The ability to distribute our Income Statement to different users in our hierarchy has saved so much time.

Inconvénients

Not totally intuitive. Need some base understanding and training. Not really mobile optimized.

Avantages

Building reports to display various financial data is by far the best thing about Prophix. The user friendly interface makes it easy to use once you understand what needs to be done.

Inconvénients

We have some issues with our integration processes sometimes, but its great that the support team from Prophix is always willing to help quickly.

Avantages

It is a versatile tool that allows for efficient management of the consolidation process

Inconvénients

In my view, some reports are not very clear.

Alternatives envisagées 

Pourquoi passer à Prophix

Avantages

To start with the easy of implementation and the knowledge of Prophix's internal consultants. It was one of the smoothest implementation we've been through. One of the great features is the ad hoc analysis. It is a quick powerful pivot table like structure that lets you analyze your data very efficiently.

Inconvénients

I would say formatting options for dashboard charts could improve. For example, having option to place labels in more than one location on a chart.

Alternatives envisagées 

Pourquoi passer à 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 import process is seamless and makes reporting easy and fast. User friendly to manipulate reports and create reports for end users.

Inconvénients

Waterfall features not at excel level and some items will have to be exported for formatting, but easily imported back in.

Avantages

Prophix is easy to use and the Customer support is outstanding.

Inconvénients

Sometimes finding information on a topic can be difficult but I use my Customer Support manager to help if I cannot find it.

Avantages

Having workflow for all the budget owners to input budgets

Inconvénients

The dashboards need to be improved in the system

Alternatives envisagées 

Pourquoi passer à Prophix

Avantages

Ease of running/developing an ad-hoc report

Inconvénients

Functionality and features in creating dashboards.

Avantages

The integration was easy and it is fairly easy to create reports.

Inconvénients

Some functionalities works only with the Workflow function which is not useful for us, being only a handful of users. Need to go through the Support team to get the Data Integration to work properly with the format in the file every time we make changes.

Avantages

Functionality and flexibility of the product and the ease of creating reports.

Inconvénients

The biggest con is with the Excel Add-In....it only works with Office 365 and not any of the other versions.

Alternatives envisagées 

Pourquoi choisir Prophix 

Pourquoi passer à Prophix

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

The ease of implementation, to the ease of everyday use. This software has been a game changer for our company.

Inconvénients

Nothing at this time. You have endless possibilities to customize your experience with the software.

Avantages

Prophix is very user friendly and intuitive. It was easy to learn, and the videos and trainings are very helpful.

Inconvénients

It can do more than you think it can, and unless you are trained on it, it can be hard to use Prophix to its full potential.

Avantages

Prophix has been crucial to the organization budget and reporting. The organization can report on any segment of the GL string and at any level and across any time period. The reporting has allowed the organization to review programmatic activity at a new level to help inform business decisions.

Inconvénients

The data integration for closed fiscal years.

Avantages

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.

Inconvénients

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.

Alternatives envisagées 

Pourquoi choisir Prophix 

Pourquoi passer à Prophix

Avantages

Prophix can be leveraged to drive continuous improvement within a company's Finance department as well as provide actionable information to stakeholders in as simple or as complex of a fashion as needed. The flexibility granted with Prophix allowed our organization to start small using the system, for example getting consolidated core financial reporting published. From there, we have been able to build out first reporting sent directly from within Prophix and then onto automated distribution of this reporting.
Next we moved Planning processes to within the system, followed by managing these processes with Workflows.

Inconvénients

The process to set up automated data feeds from multiple ERP systems directly into Prophix is not an easy task.

Alternatives envisagées 

Pourquoi passer à Prophix

Avantages

I like being able to pull an ad-hoc report. It's quick access to expenses, revenues, and employee wages. When questions are asked due to increases/decreases, answers can be quickly procured.

Inconvénients

Reporting is difficult to me, but I don't think this is the feature of the software. There are many facets to creating a report and repetitive reporting will ensure I can continue building this strength.

Avantages

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.

Inconvénients

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.

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

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

Powerful and flexible- report on almost anything! Pull data from multiple sources and compile and present in an almost infinite number of different ways. review variances, budget vs actual, generate your annual financial statements- name your reporting requirement, this program can do it. Great customer support and a community of users with a dedicated forum for questions. They are constantly seeking feedback from their users and adding new improvements to their product.

Inconvénients

Like any other new software, this represents a huge investment in time, training, and supplier relationship. There is a great deal of software specific jargon, although they are always working to simplify this and improve training. Some steps can take a long time for the report to load. Some reports may be very difficult to build. That said they can help you redesign the report to run faster. Almost anything is possible with the right approach though. They are based in Canada with a limited presence and customer base in Europe, and sometimes can feel very North-America specific. I think this is slowly improving though.

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

Prophix was really easy to pick up as and end user and makes it so much cleaner and simpler to access our general ledger detail. I like the capabilities within Process Manager and the Workflow Manager that have improved our projection and budget processes and allowed us to easily compile information from a number of different departments.

Inconvénients

We have some processes that were built years ago that haven't been well updated because no one in our organization has a good enough understanding to update them on our own.

Avantages

As a finance employee, I enjoy the freedom of being able to control and maintain Prophix with minimal IT support. We have an on-premise server and I am able to RDP into the system if needed and reset services, modify tables, and update to the latest Prophix version without having to include our IT department. This allows me to quickly diagnosis issues and work more efficiently.

Inconvénients

Report building can be problematic at times, especially when creating large reports with multiple data views.

Avantages

Daily integration with our general ledger

Inconvénients

Building and customizing reports is not straightforward

Alternatives envisagées 

Pourquoi passer à Prophix

Avantages

Prophix saves our team multiple days of work every month and multiple days during budgeting and planning every year. We have improved reporting and analysis. We can pull data from several sources and consolidate in one place.

Inconvénients

Graphing capabilities, but they have communicated that it is in the product roadmap.

Avantages

The customer service is top-notch! Excellent software and easy to use.

Inconvénients

I don't have anything to say negatively about the software.

Avantages

It is intuitive and easy to use. If you're familiar with excel, most of the functions carry over flawlessly.

Inconvénients

Connecting more than 20 ERP systems to import data was a challenge. It affected the overall performance and ultimately usage as my company has not fully been able to convert to the cloud version. The administrator is still managing the Smart Client.

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

Budgeting/forecasting, reporting, visualizations.

Inconvénients

Performance can be low at times but overall still useful.

Avantages

I really love the ease of use and simplicity of this software.

Inconvénients

We have a few processes and reports that experience lag time since switching to the cloud.

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

The myriad ways in which you can look at your data, the streamlining of reporting and budgeting processes.

Inconvénients

The learning process. Because this software has so many features, it takes dedication to figure out how to use it to it's potential.

Avantages

Prophix is a well rounded software that is easy to use and is well supported by the Prophix team. Prophix has met and exceeded our company needs while continually improving on a daily basis.

Inconvénients

There is some difficulties extracting multiple years of data our of the system.

Avantages

It is dynamic and multidimensional, as someone who uses it regularly with IT experience, I find it to be a good tool. I like that we can add comments and Line item details to our Budgets and flow information through our versions if need be.

Inconvénients

Many of our managers do not use our system regularly since the Product can be a little confusing for end users that are not in the IT or accounting world. Sales Managers find it difficult to remember what steps/versions they should be using. Also, it looks similar to Excel but the screen is smaller and the system has many quirks when trying to build templates, especially when involving formulas.