Easy to use/implement. Great training tools.
May 27, 2024

Easy to use/implement. Great training tools.

Anonymous | TrustRadius Reviewer
Score 10 out of 10
Vetted Review
Verified User

Overall Satisfaction with Prophix

We use Prophix for our consolidation and financial reporting. We have the Capex cube and a currency conversion process. We are looking to upgrade to the actual financial consolidation tool as we have grown significantly since implementation and need to have the foreign currency conversion processes that the next step up has.

Pros

  • Consolidation
  • Workflow tracking.
  • Self administration.

Cons

  • It allows you to set up named sets, but updating them each period is a chore.
  • So MUCH self training for new users.
  • We have to run one process and then run two more to update our data.
  • Saved days on close to reporting process.
  • Improved accuracy of reporting.
  • One source of the truth with numbers.
  • Allows for different reporting based on what is needed (pre/post acquisition numbers).
NA. We don't utilize the budgeting process as much as we could.
I didn't select Prophix for our company, but it does some things very well. It is way easier to set up and maintain than Hyperion and BPC, which require ongoing support from our IT department. Prophix only requires us to involve IT when we need to map new external data or update our external data sources.

Do you think Prophix delivers good value for the price?

Yes

Are you happy with Prophix's feature set?

Yes

Did Prophix live up to sales and marketing promises?

Yes

Did implementation of Prophix go as expected?

Yes

Would you buy Prophix again?

Yes

Prophix is constantly improving. They just introduced Account reconciliation, which plays to the system's strengths with workflows and audit trails. I think they could benefit from further development of the account reconciliation module, where you can import bank details to do ALL of the processes in one place.

Prophix Feature Ratings

9.8
Long-term financial planning
9
Financial budgeting
10
Forecasting
10
Scenario modeling
10
Management reporting
10
7.8
Financial data consolidation
10
Journal entries and reports
8
Multi-currency management
8
Intercompany Eliminations
8
Minority Ownership
Not Rated
Local and consolidated reporting
7
Detailed Audit Trails
6
9.0
Financial Statement Reporting
9
Management Reporting
10
Excel-based Reporting
9
Automated board and financial reporting
8
XBRL support for regulatory filing
Not Rated
10.0
Personalized dashboards
10
Color-coded scorecards
10
KPIs
10
Cost and profitability analysis
10
Key Performance Indicator setting
10
Benchmarking with external data
Not Rated
9.0
Flat file integration
9
Excel data integration
9
Direct links to 3rd-party data sources
Not Rated
Not Rated
Pixel Perfect reports
Not Rated
Customizable dashboards
Not Rated
Report Formatting Templates
Not Rated
7.7
Drill-down analysis
7
Formatting capabilities
8
Report sharing and collaboration
8
10.0
Publish to PDF
10
Report Versioning
10
Report Delivery Scheduling
10
Not Rated
Predictive Analytics
Not Rated
8.8
Multi-User Support (named login)
9
Role-Based Security Model
9
Multiple Access Permission Levels (Create, Read, Delete)
9
Report-Level Access Control
8
Not Rated
Responsive Design for Web Access
Not Rated

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