This is powerful and flexible software that can report on almost anything! It can pull data from multiple sources and compile, present, and analyse it in an almost infinite number of different ways. Use it for reviewing variances year on year, or any other period(e.g. quarter, month) or budget vs actual, or generate your annual financial statements- name your reporting requirement, this program can do it. There's also lots of options for creating graphs and charts. Interactive dashboards and workflows can be set up to formalise and streamline processes. They have 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. Review collected by and hosted on G2.com.
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 constantly working to simplify this, and improve the training available to users. 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. They are based in Canada with a limited presence and customer base in Europe, and sometimes can feel very North-America specific. That said, this aspect is improving and they are increasing their global reach. and remain very responsive to feedback and suggestions for improvement. Review collected by and hosted on G2.com.
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Friendly tool and easy to learn
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Prophix has helped our finance organization get to the next level!
191 out of 192 Total Reviews for Prophix Software
Overall Review Sentiment for Prophix Software
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Prophix is very easy to use (both for those that work in finance and outside of finance), the company offers great customer support and is always available when we have issues, and we are excited that Prophix is continuing to invest in additional features (such as AI). We look forward to all the great things we will continue to do with this tool! Review collected by and hosted on G2.com.
I think the dashboards could use some improvement (we do most of our graphs in Excel due to the limitations in Prophix), some reports are not very usable right when they are downloaded and require manipulation in Excel, and it would be great if we were able to access invoices/other support directly in Prophix rather than having to go outside of the tool. Review collected by and hosted on G2.com.
Prophix does a really good job at allowing for dynamic reporting from the cube. You can slice and dice the data in any way you need to see it, and the user interface is very clean, modern, and easy to use. I also really enjoy the support that comes with the Continuous Success Package (CSP). I feel that I can reach out at any time and I will have a knowledgeable consultant to answer my questions. It keeps up with our daily use for 10 active users and rarely do we run into functionality issues with servers going down or anything like that. Review collected by and hosted on G2.com.
A downside that I have with using Prophix is that the reporting can take a while to load if you have many different unique member combinations. We have to limit the filters in certain reports or create duplicate reports with slightly different filters to get to certain reports if we don't want to wait 10 minutes for a report to load. My other complaint is that the integration with O365 isn't very intuitive in Excel (getvalue formulas rather than being able to click and connect like some other products) and there is not a streamlined powerpoint integration that doesn't show the full web-interface within the PowerPoint deck (which causes deck building to take many hours each month rather than a simple click and refresh). Review collected by and hosted on G2.com.
Ability to set up your company structure (legal entities, sectors, etc.) in a way that makes the consolidation process pain-free and automated each month. It is easy to add/remove/alter the structure you have built as a result of corporate reorganizations or acquisitions/divestitures. Review collected by and hosted on G2.com.
The product struggles with processing assumptions entered to build forecast or budgeted balance sheets and cash flow statements. Users are required to find creative ways to reduce the processing time, which can lead to increased manual work required. Review collected by and hosted on G2.com.
I would say that the version control and the amount of features are the biggest pros to this software. Prophix customer support is always available and helpful. The software is also used by managers to check the status of their budgets on their time. Review collected by and hosted on G2.com.
I don't believe that Prophix is the easiest software to use. The UI of this system could use some work. Implementation was a long process and I don't believe it was handled correctly with my team, as most team members were not involved in the implementation. Review collected by and hosted on G2.com.
Easy to set up and use, importing and transferring data is simple and there is no manual intervention needed in producing monthly reports.
Monthly reports are available on the dashboards for budget holders who can then open their report from a chart and drill down into the details.
Being able to update the reports and then get feedback using the workflow speeds up the review process.
We have cut our month end reporting to 5 working days from close to producing the board reports, saving time and making the reports more accurate. Review collected by and hosted on G2.com.
I have been using Prophix for nearly 3 years now and struggle to find anything that I don't like, now that we have set up all of the reports and can just roll them forward each quarter or year we save hours of hard work. Review collected by and hosted on G2.com.
I really appreciate how intuitive Prophix is for financial planning and reporting. The interface is clean and user-friendly, which makes it easy to build and manage budgets or forecasts. Plus, the automation features save a ton of time, especially when it comes to consolidating data across multiple departments or business units. It’s also flexible enough to tailor to specific needs, which is great for companies of different sizes and industries. Review collected by and hosted on G2.com.
One thing I’d say could be improved is the initial learning curve. While the interface is user-friendly, some of the more advanced features can be a bit tricky to get the hang of without proper training. The setup process can also be a bit time-consuming, especially if you’re trying to integrate it with other systems. Once you’re past that, though, it works really smoothly! Review collected by and hosted on G2.com.
The most important part about Prophix, is that it has become a one stop shop for our Actuals and Plan data. The cohesiveness of the system along with the ability to collaborate with department leads allows for the data to be more accessible, and accurate. Review collected by and hosted on G2.com.
While Prophix is a very robust tool, that is it's same pitfall. Users who are not constantly utilizing Prophix, will find it difficult to navigate and burden falls on the administrator or other advanced users to assist less frequent users. Essentially, like any other software, practice makes perfect. Review collected by and hosted on G2.com.
Prophix is really good at allowing its users to build reports quickly, or take currently existing reports and turn them into a different view in a short time. Distributing reports to end users is really easy through the Report Binder tool. The management of changes in accounts and business units are easy to make. Review collected by and hosted on G2.com.
The administration and process side of prophix can be a headache when things break or wipes the cube of all data, it can be hard to audit what went wrong and why. Review collected by and hosted on G2.com.
Prophix has allowed us to streamline and improve our processes not only within the finance function but also within the wider business Review collected by and hosted on G2.com.
Sometimes the MDX coding can be complex. Review collected by and hosted on G2.com.
My client had 7-10 different budget processes going on across the company, each with their own excel templates and timeframes. Melding them into a single forecast was impossible. Codes, objectives, times, and even the base entities were different from each other. Maintaining the templates was difficult, we were constrained in updating them to meet changing requirements if the original authors were no longer with the company, and many of them required manual data updates on a monthly basis from the client's 3 different ERPs.
Prophix has changed all of this for us. For those excel templates that were already meeting our needs but required manual updates, we converted them into Prophix templates based on it's centralized cube data structure. Multi-user updates, automated imports from our ERPs, and the ease of which we can pivot the data into alternate views has been a game-changer. The ability for Prophix to have different data sets for different planning needs, then being able to merge them into a consolidated data set using their Data Integration Studio, is another game changer. All excel formulas are supported in Prophix templates, so it was easy for our excel super-users to convert to Prophix; but the template structure is organized and defined enough that it's easy to pick up for even moderate or entry level users.
Since differnet deparments have their own planning schedules, we now have users in the system daily from different parts of the organization.
We use their workflow feature to alert parties of their outstanding planning and/or reporting tasks, track task completion, collect approvals, and publish "binders" as attachments to emails for executive distribution.
We don't need to use customer support very often, but when we do, they are always quick to reply and thorough in their help. Review collected by and hosted on G2.com.
The biggest downside is not being able to change a cube's dimensional structure once it's establish. Members and hierarchies within the structure are easily modifed; it's the names and number of dimensions that remains static.
Second is that all "automation" in Prophix must be internal; prophix processes cannot be invoked by external orchestration. Automation does have some limitations.
Finally, the ad-hoc flxibility for end users working with data in templates is limited. For example, filtering or sorting is part of the template definition, not adjustable by the user at runtime. Review collected by and hosted on G2.com.
