Prophix

Great Customer Service

Commentaires : 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.

Avantages :

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.

Inconvénients :

Some of the graphs and charts have limited accessories and capabilities. Learning curve was high, but this may be the nature of the software.

Great all around tool

Commentaires : We solved a great problem that we had and that was to provide a workable, easy to use and robust product to our end user for budgeting purposes. It has surpassed our expectations.We also heavy rely on monthly management reports and board financials. We are also exploring the forecasting capabilities which we have high hopes for as well.

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.

Prophix: a good companion

Commentaires : Overall, we have managed to achieve greater reliability of the consolidated financial data and better formalisation of the adjustments

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.

Good Product

Avantages :

Ease of running/developing an ad-hoc report

Inconvénients :

Functionality and features in creating dashboards.

Prophix Product Review

Commentaires : Very happy with the product. We use the product for budgeting, forecasting and organizational profitability. Looking forward to rolling it out for other uses..

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.

The best Financial Performance Platform!

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.

Prophix - Rich Features

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.

Flexible Reporting Tool

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.

CFO User Perspective

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.

Construction

Commentaires : IT has been a great experience

Avantages :

Having workflow for all the budget owners to input budgets

Inconvénients :

The dashboards need to be improved in the system

Financial Reporting from Great Plains

Commentaires : We use a third party company for training but upgraded to the cloud and find it user friendly or a lot online to learn from.

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.

Prophix

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.

Finance Friendly To Administer And Feels Like Excel From A Reporting Standpoint

Commentaires : Prophix gives us an easy-to-administer product that the finance team can control. This allows us to avoid consuming IT resources, and we can resolve issues faster and move quicker when we want to make updates or enhancements to our model or processes.

Avantages :

The Prophix Analyzer is an Excel Ad In feature that gives users easy access to the financial data through Excel which makes reporting and analysis at month end quicker and easier since Excel is natural for most users. The Continuous Success Program also helps us stay engaged with continuous development for things like maintenance, building additional cubes to track Capex or Personnel, etc.

Inconvénients :

Support tickets are generally addresses after we are already resolved a case internally. Critical tickets are often not addressed until the next day, particularly if they are submitted in the afternoon. The support through the Continuous Success Program is extremely good for development support. This team is easy to access and very knowledgeable to help with new project, audits on current models, etc.

Intuitive and Insightful

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.

Prophix

Avantages :

The customizability of prophix is great.

Inconvénients :

It can be a little overwhelming to understand in the beginning, but give it some time and you will get there.

Prophix Does Data Manipulation Well!

Commentaires : great! I would use this software as much as I can.

Avantages :

Prophix is easy to use and easy to manipulate data into a useable Excel-like pivot tables.

Inconvénients :

Prophix uses strange naming conventions to sort/filter the data that you need, but it is easy to get used to after some time.

Powerful, flexible reporting tool

Commentaires : Capex planning and project management including variance analysis budget vs actual, internal reporting (formal quarterly reports, ad hoc management reports, with variance analysis year-on-year), consolidated external reporting (several entities across multiple countries and currencies), other external reporting

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.

CPM Made Easy

Commentaires : We used to consolidate all of our financials for 20+ agencies using excel and it was a nightmare. After using Prophix we have been able to reduce errors, improve reporting, and be more analytical. The latest commentary functionality allows us to exclusively use Prophix for our forecasting and analytics.

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.

Love Prophix

Commentaires : I have been using Prophix for a little under a year and have enjoyed it more than other systems I have used in the past.

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.

Prophix Review from a non Financial user

Commentaires : I've had a fantastic experience with Prophix. Their engagement with the organisation, the structure to their implementation process and the online and offline support has been impressive. They empower the organisation to skill up to manage their own development and ability to evolve the platform so I feel excited about taking it forward. I also find their roadmap impressive, in that they are already thinking and planning some great developments for the future

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.

Robust and flexible with on-premise deployment option

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.

Great Product with Excellent Customer Support

Commentaires : My overall experience has been great. They support customers through their Prophix Academy and annual user conference. The monthly webinars are very informative. The staff is always very friendly and easy to work with. We are hoping to bring more processes into Prophix in the future.

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.

Prophix Review

Commentaires : Their consultants / client service team are very knowledgeable and always provide timely support!

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.

Completely Satisfied

Commentaires : My experience has been so much better than expected. We have reduced our budget cycle by 2 1/2 months, that’s just one example!

Avantages :

The time savings we’ve been able to achieve as well as the consistency of reporting.

Inconvénients :

That I can’t have one report workbook (like an excel file with tabs) to work in. You have to create a workbook process to combine it.

Prophix is Great

Commentaires : Overall, it is good and a huge upgrade on Excel.

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