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Prophix Software Reviews & Product Details - Page 4

Prophix Software Overview

What is Prophix Software?

Prophix is a type of financial performance platform designed to help organizations enhance their decision-making processes through improved speed and accuracy. This software solution caters to the needs of finance leaders who seek to navigate the complexities of financial management while ensuring a seamless user experience. By leveraging Prophix One, finance teams can harness the power of automation and data analytics to drive significant progress in their financial operations. Targeted primarily at finance professionals and organizations of all sizes, Prophix addresses a variety of use cases, including planning, budgeting, forecasting, reporting, and consolidation. The platform is particularly beneficial for global finance teams that require a unified approach to managing financial data across multiple regions and departments. By providing a centralized solution, Prophix helps eliminate silos and fosters collaboration among team members, enabling them to work more efficiently and effectively. One of the key features of Prophix is its ability to automate complex financial processes. This automation not only reduces the time spent on manual tasks but also minimizes the risk of human error, leading to more accurate financial insights. Users can access best-in-class functionalities that illuminate data and provide actionable insights, allowing finance leaders to make informed decisions with confidence. The platform's intuitive interface ensures that users can navigate through various functionalities without extensive training, making it accessible to a wide range of users. Additionally, Prophix offers robust reporting and analytics capabilities that empower organizations to visualize their financial data in meaningful ways. By transforming raw data into comprehensive reports and dashboards, finance teams can quickly identify trends, assess performance, and uncover opportunities for improvement. This level of insight is crucial for organizations looking to adapt to changing market conditions and drive long-term success. With a strong backing from Hg Capital and a growing customer base of over 3,000 active users worldwide, Prophix stands out as a reliable partner for organizations aiming to elevate their financial performance. By embracing the next generation of finance through Prophix, finance leaders can crush complexity, reduce uncertainty, and ultimately achieve their organizational goals with greater ease and precision.

Prophix Software Details
Product Website
Languages Supported
Danish, German, English, French, Italian, Polish, Portuguese, Russian, Spanish
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Product Description

Your business is evolving. And the way you plan your business activities and report on them should evolve too. To empower mid-market companies to achieve their goals, Prophix provides an integrated, cloud-based platform to the Office of Finance; one that delivers planning, budgeting, reporting, forecasting and consolidation solutions. With Prophix, finance leaders improve profitability and minimize risk and puts the focus back on what matters most – uncovering business opportunities. Prophix supports your future with AI innovations that adapts to meet your strategic realities, today and tomorrow. Over 2,500 active customers around the globe rely on Prophix to transform the way they work.


Seller Details
Seller
Prophix
Company Website
Year Founded
1987
HQ Location
Ontario, Canada
Twitter
@prophix
2,002 Twitter followers
LinkedIn® Page
www.linkedin.com
499 employees on LinkedIn®
Description

Ambitious finance leaders engage with Prophix to drive progress and do their best work. Leveraging Prophix One, a Financial Performance Platform, to improve the speed and accuracy of decision-making within a harmonized user experience, global finance teams are empowered to step into the next generation of finance with no reservation.    Crush complexity, reduce uncertainty, and illuminate data with access to best-in-class automated insights and planning, budgeting, forecasting, reporting, and consolidation functionalities. Prophix is a private company, backed by Hg Capital, a leading investor in software and services businesses. More than 3,000 active customers across the globe rely on Prophix to achieve organizational success. Additional information at www.prophix.com.  


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Overview Provided by:
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Prophix Software Integrations

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Recent Prophix Software Reviews

MW
Mayur W.Enterprise (> 1000 emp.)
4.5 out of 5
"Prophix for FP&A"
Good Application for Financial Reporting planning and analysis, Prodct, Support
Verified User
A
Verified UserEnterprise (> 1000 emp.)
5.0 out of 5
"Prophix: Do it all financial software"
I really enjoy how user-friendly the system is. Onboarding new users is faster than some other software I've used in the past because of how intuit...
AB
Alexandra B.Enterprise (> 1000 emp.)
4.5 out of 5
"User friendly"
I find Prophix to be much more user-friendly then previous software I have used.
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194 Prophix Software Reviews

4.4 out of 5
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194 Prophix Software Reviews
4.4 out of 5
194 Prophix Software Reviews
4.4 out of 5

Prophix Software Pros and Cons

How are these determined?Information
Pros and Cons are compiled from review feedback and grouped into themes to provide an easy-to-understand summary of user reviews.
Pros
Cons

Overall Review Sentiment for Prophix SoftwareQuestion

Time to Implement
<1 day
>12 months
Return on Investment
<6 months
48+ months
Ease of Setup
0 (Difficult)
10 (Easy)
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G2 reviews are authentic and verified.
CZ
Enterprise(> 1000 emp.)
Validated Reviewer
Verified Current User
Review source: G2 invite on behalf of seller
Incentivized Review
(Original )Information
What do you like best about Prophix Software?

How dynamic the system is. It's very easy to access. Review collected by and hosted on G2.com.

What do you dislike about Prophix Software?

Nothing! The system works great and has changed the way we analyze our busines Review collected by and hosted on G2.com.

What problems is Prophix Software solving and how is that benefiting you?

Budgeting and forecasting has been the biggest one. We streamlined several processes and cut the budgeting timeline in more than half. Review collected by and hosted on G2.com.

LW
Senior Financial Plan Analyst
Mid-Market(51-1000 emp.)
Validated Reviewer
Verified Current User
Review source: Seller invite
Incentivized Review
What do you like best about Prophix Software?

Prophix is a great tool and making things easier on the end user. We have struggled with excel during budgeting process but with Prohix we have increased the end user experience.

Robust product with many features. It is great at analyzing data that is in your database.

We have reduced the time to provide reports to managemnt and the Board with Prophix reporting as we are able to generate results right after close of the month.

It was great experience during implementation. Their team is very knowledgable and will make the process smoother.

We went Prophix due to the ease of integration with our ERP.

If you purchae the CSP package from Prohix you will have great support from their knowlegable team.

This is a product that we use very frequently almost on a daily basis. Review collected by and hosted on G2.com.

What do you dislike about Prophix Software?

For the most part it is a great tool and it does not have any disadvantateges. There are few things that could be improved like dashboard editing functionality. It lacks formatting feature that of excel. Review collected by and hosted on G2.com.

What problems is Prophix Software solving and how is that benefiting you?

Solved the problems of not having data in excel that needed to be manually consolided and then turned around to provide reports to management and executive teams. It also improved our end user satisfaction as it is very easy to use. Management was super happy after we implemented Prophix.

It is also solving our problem of providing results at a much faster rate. We can generate and distribute reprots that same day we close the period, where in the past it took few extra days.

It is also providing ways to be able to analyze and review data much more diligently. Much more data can be reviewed by fewer people with Prophix. Review collected by and hosted on G2.com.

DY
Mid-Market(51-1000 emp.)
Validated Reviewer
Review source: Seller invite
Incentivized Review
What do you like best about Prophix Software?

An easy to use cloud based environment, that is very intuitive in the ability to aggregate and report data. Review collected by and hosted on G2.com.

What do you dislike about Prophix Software?

There does pose some challenge in the overall setup and deployment to users, however once the models/cubes are setup the software remains pretty seamless. Review collected by and hosted on G2.com.

What problems is Prophix Software solving and how is that benefiting you?

As we have various users and stakeholders the ability to aggregate user input was a key requirement, as using excel to consolidate the various data points generally is more error prone. Review collected by and hosted on G2.com.

Verified User in Financial Services
EF
Enterprise(> 1000 emp.)
Validated Reviewer
Verified Current User
Review source: G2 invite on behalf of seller
Incentivized Review
(Original )Information
What do you like best about Prophix Software?

Prophix is very much a Finance-Administered application without an Excel front-end (but easily exported to Excel). There is a M365 Add-in that allows push and pull data movement to and from Prophix for Excel and PPT. We are much less dependent on IT and more efficient. The application is point and click intuitive for non-financial users. Staging data from SAP and other sources has been fairly straightforward to implement. Working directly with Prophix for implementation consulting is fantastic and a welcome change from working with 3rd party implementation firms. The ability to continue to grow our platform footprint without large financial outlays was a big win. Review collected by and hosted on G2.com.

What do you dislike about Prophix Software?

As each customer implementation is custom built to a certain point, we found the ability for new consultants to enter the process mid to late stream hasn't proven to be as efficient as staying with the original team. Review collected by and hosted on G2.com.

Recommendations to others considering Prophix Software:

Talk to other users and utilize the very competent pre-Sales technical team who can do some great mock-up's with your data to show you what your data will look like in Prophix. Don't be afraid to ask hard questions. The Sales team was very knowledgeable and responsive. They speak CPA and can answer tough questions as many of their consultants and Sales team are CPA's. Review collected by and hosted on G2.com.

What problems is Prophix Software solving and how is that benefiting you?

Improved staff efficiency. Staging data from multiple sources creates a one-source-of truth application and significantly reduces staff time manually assembling reports and analysis from varied sources. Improved user ease-of-use and increased accountability especially from the non-financial users and time-crunched executives. Lower cost implementation model with internal Administrator and lower technical resource cost (internal and external) to support the application. Review collected by and hosted on G2.com.

SD
Senior Act
Mid-Market(51-1000 emp.)
Validated Reviewer
Verified Current User
Review source: Seller invite
Incentivized Review
(Original )Information
What do you like best about Prophix Software?

Prophix has a fantastic customer support team and a learning hub allowing further advancements within the software training module. Review collected by and hosted on G2.com.

What do you dislike about Prophix Software?

Prophix has SO many features that we are not using them to their full potential. Review collected by and hosted on G2.com.

What problems is Prophix Software solving and how is that benefiting you?

Prophix's budgeting and AI software allow for us to better plan and predict sales within various business units Review collected by and hosted on G2.com.

BS
Financial Analyst
Mid-Market(51-1000 emp.)
Validated Reviewer
Review source: Seller invite
Incentivized Review
What do you like best about Prophix Software?

The fact that we can have a connect between our accounting software (SAP) and Prophix is amazing. Review collected by and hosted on G2.com.

What do you dislike about Prophix Software?

When it comes to building dashboards, there are some issues with graphics and filtering options. Review collected by and hosted on G2.com.

What problems is Prophix Software solving and how is that benefiting you?

Report distribution, and consolidation between multiple entities. Review collected by and hosted on G2.com.

AS
Assistant Controller
Mid-Market(51-1000 emp.)
Validated Reviewer
Review source: Seller invite
Incentivized Review
What do you like best about Prophix Software?

Prophix has changed how we create and present financials. It's been a huge help in automating our budget process! We are looking forward transfering more processes into Prophix. Review collected by and hosted on G2.com.

What do you dislike about Prophix Software?

Prophix has been great overall but it's a huge time commitment. Review collected by and hosted on G2.com.

What problems is Prophix Software solving and how is that benefiting you?

Budgeting, Monthly Financial Reporting - Saving time and providing detailed and accurate data. Review collected by and hosted on G2.com.

Verified User in Education Management
AE
Mid-Market(51-1000 emp.)
Validated Reviewer
Verified Current User
Review source: Seller invite
Incentivized Review
What do you like best about Prophix Software?

I like that through the implementation process, we had very knowledgeable consultants who took the time to listen and understand our user stories. The product pulls in data from various sources in various ways, and provides many learning opportunities through their active use group. Review collected by and hosted on G2.com.

What do you dislike about Prophix Software?

The work that needs to be done on the front end can be a LOT depending on how complex your planning and reporting processes are. Review collected by and hosted on G2.com.

What problems is Prophix Software solving and how is that benefiting you?

We had a very outdated report distribution process that involved printing multiple different reports and delivering those reports to various stakeholders manually. We also had a very manual planning process that took months. With Prophix, we have a workflow that distributes the various reports that are now automatically generated. Our planning process is now mostly in the cloud, and there is greater transparency in our completion rate. Review collected by and hosted on G2.com.

RR
Director of US Accounting
Enterprise(> 1000 emp.)
Validated Reviewer
Verified Current User
Review source: Seller invite
Incentivized Review
What do you like best about Prophix Software?

The ease of creating simple or complex reports and then a simple process to run/print/analyze monthly. All the processes you configure are very similar so as you set up your instance you are leaning the tools you will use across all modules. Review collected by and hosted on G2.com.

What do you dislike about Prophix Software?

I don't think there is any downside to using Prophix, we have this distributed to many users and quite a few are non-accounting people that are able to provide data for forecasting without relying on a central team. Review collected by and hosted on G2.com.

What problems is Prophix Software solving and how is that benefiting you?

We are able to get new users up and running quickly. The ability to analyze accounts and retrieve detail quickly allows us to respond quickly. The forecasting we are able to do was not possible in Excel spreadhseets and the quality of the data is much better as it comes directly from the stakeholders. Review collected by and hosted on G2.com.

CL
Senior Financial Analyst
Enterprise(> 1000 emp.)
Validated Reviewer
Review source: Seller invite
Incentivized Review
What do you like best about Prophix Software?

Prophix is collabrative and intuitive an easy to pick up Review collected by and hosted on G2.com.

What do you dislike about Prophix Software?

There is a wait time when other are updating things Review collected by and hosted on G2.com.

What problems is Prophix Software solving and how is that benefiting you?

Prophix helps with reporting, allocations, budgeting and forecasting Review collected by and hosted on G2.com.