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About Prophix
Prophix is a financial management solution used for financial consolidation, budgeting, analysis, planning and management reporting. The solution provides a spreadsheet-style interface that helps users to analyze financial data and organize information. Prophix can be deployed both cloud and on-premises and is suitable for a range of industries such as financial services, construction, government, and utilities.
Prophix lets users manage information such as budgeting requirements, cash flow, balance sheets and income statements. Data analysis tools are also available. The solution supports both non-financial and financial budgeting, including top down, bottom up, zero-based and activity-based methodologies.
The solution offers multiple modeling options for forecasting such as inter-period forecasts, "‘what-if" analysis and rolling forecasts. It also provides modules for saving personnel records, such as salary, medical expenses and tax calculations.
Support is offered via phone and email.
Prophix pricing
Prophix does not have a free version but does offer a free trial. Prophix paid version starts at US$1.00.
Starting Price:
US$1.00
Free Version:
No
Free trial:
Yes
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Prophix Reviews for UK Users
Feature rating
5 reviews of 101
View all reviews
Justin
- Industry: Insurance
- Company size: 1,001–5,000 Employees
- Used Daily for 1+ year
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Review Source
5
Reviewed on 27/07/2023
Prophix, An easy to Use Product
Overall, this product has been great for our organization. It really sped up our month end reporting and we are able to verify the data in which oracle is giving us every month with regards to allocation spreading as well.
Pros
This product makes our monthly reporting so easy. You can create so many monthly reports to quickly conduct analysis and reporting to end users
Cons
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
Geoff
- Industry: Retail
- Company size: 1,001–5,000 Employees
- Used Daily for 2+ years
-
Review Source
4
Reviewed on 14/11/2024
Prophix is Great
Overall, it is good and a huge upgrade on Excel.
Pros
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.
Cons
Report Binder requies duplicate versions of reports
Alternatives Considered
Workday Adaptive PlanningReasons for Switching to Prophix
Better cost and better fit our needs. Staff were friendlier and had a local Canadian prescence.
Aaron
- Industry: Consumer Goods
- Company size: 201–500 Employees
- Used Daily for 1+ year
-
Review Source
3
Reviewed on 01/09/2024
Prophix is great for getting started with budgeting!
Prophix was a solid program, just had a few big issues and were tough to work through during a growing time in our company
Pros
Prophix was very user friendly for budget holders, and had a great line item schedule that allowed budget holders to put in necessary details to remind them where they left off in quarterly cycles
Cons
Prophix would break a lot and fail pulling in data from the erp. Refreshing the data would take up to 12 hours sometimes, making it very hard to make updates and see the impact quickly
Les
- Industry: Nonprofit Organization Management
- Company size: 201–500 Employees
- Used Daily for 2+ years
-
Review Source
5
Reviewed on 27/07/2023
Great all around tool
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.
Pros
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.
Cons
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.
Reasons for Switching to Prophix
We chose it because of the relationship and integration capabilities they had with our ERP.
Joshua
- Industry: Banking
- Company size: 501–1,000 Employees
- Used Weekly for 2+ years
-
Review Source
5
Reviewed on 07/08/2023
Prophix Product Review
Very happy with the product. We use the product for budgeting, forecasting and organizational profitability. Looking forward to rolling it out for other uses..
Pros
Functionality and flexibility of the product and the ease of creating reports.
Cons
The biggest con is with the Excel Add-In....it only works with Office 365 and not any of the other versions.
