Prophix Software Reviews & Product Details

Prophix Software Overview

What is Prophix Software?

Your business is evolving. Your systems should evolve too. Achieve your goals more successfully with Prophix’s innovative Corporate Performance Management (CPM) software. Improve profitability and minimize risk when you automate repetitive tasks and focus on what matters. Budget, plan, consolidate and report automatically. Whether in the cloud or on-premise, Prophix supports your future with a platform that flexes to suit your strategic realities, today and tomorrow.

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

Prophix develops Corporate Performance Management (CPM) software that automates important financial and operational processes, making companies more profitable and reducing their risks. Business leaders use this software to empower their organizations and gain valuable insight into their companies’ performance.

How do you position yourself against your competitors?

We don’t sell our software piecemeal – we sell a complete CPM package. Every time you can purchase Prophix, you implement only the functionality you need. Our solution will grow with you, and will support your future, strategic performance management needs.


Seller Details
Seller
Prophix
Company Website
Year Founded
1987
HQ Location
Ontario, Canada
Twitter
@prophix
2,019 Twitter followers
LinkedIn® Page
www.linkedin.com
301 employees on LinkedIn®
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Financial Analyst
Enterprise(> 1000 emp.)
Validated Reviewer
Review source: Invitation from the seller
Enterprise(> 1000 emp.)
Validated Reviewer
Verified Current User
Review source: Invitation from the seller
What do you like best?

I love the functionality of what it provides. The reports are beautiful and accurate. The system is easy to learn and maintain. The implementation was easy and the system integrates perfectly with many different ERP's . All of our users were also professionally trained by their staff as well. It is user friendly and we find managers owning their numbers more and being proactive looking into what their current numbers are and not reactive. I enjoy all the upgrade we receive being on the cloud as well. These are at no additional charge too! There is also a group of useers that all talk together and help each other with any issues we have. We can simply message each other if we want and get great ideas and new ideas Review collected by and hosted on G2.com.

What do you dislike?

There is nothing I do not like. I think everything is great. Any issues I had were solved with their customer success team and they are always wanting to teach you more and help with any projects you have in the works or want to accomplish. A few years ago I disliked that I couldn't get a simple response via email if I had an issue. Now they respond how ever you like and make sure you are satisfied with their answer. They really go above and beyond to make sure you receive the help you need and are more than willing to walk you through the resolution of any issues you are having. Review collected by and hosted on G2.com.

Recommendations to others considering the product:

Definitely the right decision Review collected by and hosted on G2.com.

What problems are you solving with the product? What benefits have you realized?

They have revolutionized how we do budgets and now its an ease. It makes it super simple to track and know where we are in the process and what areas we need to focus on. It has definitely decreased the time we spend budgeting and also minimized our close process. Report writing is a simple process and creates professional reliable reports. We can easy distribute the reports in a professionally compiled binder at the end of the period as well. You can even automate this process if you would like Review collected by and hosted on G2.com.

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Open Discussions in Prophix Software
Crystal S.
CS
Mid-Market(51-1000 emp.)
Validated Reviewer
Verified Current User
Review source: Invitation from the seller
What do you like best?

Shortened month end process considerably. Fairly intuitive to use once using the system for a while. The customer success team are great at providing advice and providing bespoke support to upskilling admin users. So much potential in the system and enjoy spending time thinking about how the system could solve issues we experience as an organisation. Relatively easy for al users, even outside of 'super users', to get on board with the basics. Review collected by and hosted on G2.com.

What do you dislike?

Takes a little bit of time to get to grips with but worth the investment. Once out of the first 6 months or so, system begins to feel like second nature. Review collected by and hosted on G2.com.

Recommendations to others considering the product:

Ensure you have enough employee resource to get the most out of the system. Can continually be updated to suit your changing requirements but requires some resource behind this. Review collected by and hosted on G2.com.

What problems are you solving with the product? What benefits have you realized?

Shortened month end - more time to spend on adding value.

Really clear visibility of budgets and forecasts for budget holders - able to hold budget holders to account.

Easy to create different scenarios and versions for what if analysis.

Customer success team are always on hand and willing to provide advice on how we can use the system to solve new and existing challenges. Would say that we could be getting a lot more out of the system and have a long list of future developments which is a good position to be in rather than stuck with a system which is limiting. Review collected by and hosted on G2.com.

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Manager Financial Planning and Analysis
Marketing and Advertising
Mid-Market(51-1000 emp.)
Validated Reviewer
Verified Current User
Review source: Invitation from G2 on behalf of the seller
Enterprise(> 1000 emp.)
Validated Reviewer
Verified Current User
Review source: Invitation from the seller
What do you like best?

It turns financial information into easy-to-read reports that even the non-accounting employees have no trouble understanding. It is also easy to "pivot" the data so it can be looked at in a different way. It is also very helpful that our company has its own Administrators and doesn't need Prophix to create reports for us. When we do need help, the Prophix employees are very knowledgeable, and they have a background in Accounting so they understand our needs and our "lingo". Review collected by and hosted on G2.com.

What do you dislike?

There is a complex piece of Prophix that is not easy to use, MDX formulas, but the intention of those is to have Prophix consultants help with them if needed. Review collected by and hosted on G2.com.

Recommendations to others considering the product:

Think of all the processes you use Excel for, such as consolidation, project tracking, budgeting, Business Unit reports, compensation planning, etc. Prophix can do all of those at a very reasonable price. I know they can do much more than that as well. Review collected by and hosted on G2.com.

What problems are you solving with the product? What benefits have you realized?

We can create reports easily, and quickly. We can also use existing reports and/or data to create an ad-hoc view and give to employees without much effort. Prophix has also stream-lined the budget process for our company. Users have even commented on how much easier Prophix makes it for them to create and submit their budgets. With about 150 users, it is critical to have such an excellent budget system with reports. Review collected by and hosted on G2.com.

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Mid-Market(51-1000 emp.)
Validated Reviewer
Verified Current User
Review source: Invitation from G2 on behalf of the seller
What do you like best?

* Dramatically reduces the amount of time it takes to get the info that I need....this is huge!

* Ad-Hoc analysis is an incredible tool to have in your tool box.

* I can have access to financial reports quickly! Review collected by and hosted on G2.com.

What do you dislike?

* Sometimes if a Cube has a lot of data performance could be slowed. Not saying it does not make it unworkable but slowed.

The above is still true but I have started to RETHINK the data that we are pulling into these cubes and are seeing performance gains! Review collected by and hosted on G2.com.

Recommendations to others considering the product:

Connect with others using Prophix....ask questions....see a demo....definitely use RED CARPET! Review collected by and hosted on G2.com.

What problems are you solving with the product? What benefits have you realized?

The request for the WHY behind the numbers is one of the most important responsibilities. Prophix gives me the tools to do my job and do it quickly and accurately. Review collected by and hosted on G2.com.

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Contract Talent
Small-Business(50 or fewer emp.)
Validated Reviewer
Verified Current User
Review source: Invitation from the seller
What do you like best?

The dashboards. They make it easy to see important information quickly. And they are customizable for each audience in the company. My executives can get information that is clear, concise, and valuable in rapid fashion. I'm also a fan of the ability to use "reports" for data entry. With Prophix, my users can see live data and, by making adjustments to certain data points, see (almost immediately) what impact their change will have on the rest of the information. That's very useful when generating our planning and forecasting scenarios. Review collected by and hosted on G2.com.

What do you dislike?

The interface for creating Data Views is sometimes challenging. We have strictly unique combinations of GL and cost center. That means every line of the Data View has to be specified individually and there's no method for choosing multiple items at a time. It has cost me a lot of time in producing reports and I wish there were some way to make it easier to use the unique combinations. Review collected by and hosted on G2.com.

Recommendations to others considering the product:

Be sure to spend time in the sales cycle getting to know the product and which specific features you'll be using. I feel that we didn't spend enough time determining how to use the product and, because of that, we're delaying ourselves in implementing some features that are very valuable and increase our efficiency. Review collected by and hosted on G2.com.

What problems are you solving with the product? What benefits have you realized?

Prophix addresses the need to generate reports for our Accounting Group on a monthly and quarterly basis, in addition to the need for planning budgets and forecasting revenue. All of this has given us an increase in the efficiency of our Accounting Group. They spend much less time building reports. As I mentioned earlier, the executives have a quick view of important data, using the dashboards. That was something we've been missing in our organization and now they don't have to sort through different spreadsheets, where all the information is just numbers on a grid, to get the the data they find most valuable and informative. Review collected by and hosted on G2.com.

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Mid-Market(51-1000 emp.)
Validated Reviewer
Verified Current User
Review source: Invitation from the seller
What do you like best?

My favorite thing about Prophix is the ability to do quick ad hoc analysis. I also like the dashboards that give the executive team an up-to-date view of various KPI's of both financial and production data. It makes budgeting for many different programs dynamic and easy, especially when adding/changing multiple accounts/programs per year. The implementation team at Prophix was very easy to work with and were great thought partners to get the best use of Prophix possible. Review collected by and hosted on G2.com.

What do you dislike?

My least favorite thing about Prophix is that most of their staff is on the East Coast so coordinating schedules can be difficult at first. However the Prophix team will work with your schedule. Review collected by and hosted on G2.com.

What problems are you solving with the product? What benefits have you realized?

We are solving multiple problems with Prophix. First and foremost, Prophix is our budgeting tool and has streamlined our budgeting process. Prophix is connected with multiple databases and pulls the data into one place where executives can quickly identify trends. Prophix has also significantly reduced the time it takes to do ad hoc analysis. Review collected by and hosted on G2.com.

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AP
Enterprise(> 1000 emp.)
Validated Reviewer
Verified Current User
Review source: Invitation from the seller
What do you like best?

I adore the constant improvements. Prophix product development team listens to the customer needs and implements changes as soon as possible. Also, there's a customer forum which allows you to get feedback from other users and see how others are utilizing the tool. Review collected by and hosted on G2.com.

What do you dislike?

Converting over to the Cloud based environment resulted in the lost of features I was accustomed to in Smart Client version. Particularly, the charts. In the latter version, one had graph capabilities similar to excel (eg. Legend visibility, changing chart font size). Such edits are limited now. I realized later such shortcoming is typical when migrating to cloud. Review collected by and hosted on G2.com.

What problems are you solving with the product? What benefits have you realized?

Prophix helps solve consolidation reporting issues by making the process simple. Now, I can focus on the analyzing the data rather than configuring spreadsheets. Review collected by and hosted on G2.com.

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UN
Mid-Market(51-1000 emp.)
Validated Reviewer
Verified Current User
Review source: Invitation from the seller
What do you like best?

The data presentation is clean. The navigation to find my files is manageable once I got the hang of it. Review collected by and hosted on G2.com.

What do you dislike?

Sometimes there are too may files to navigate through, and I think that's done through my organization. I know I have access to many files and that is appreciated, but sometimes it's daunting to see so many! Review collected by and hosted on G2.com.

Recommendations to others considering the product:

Change is a 'c' word that many despise. Prophix is user friendly, and the trainings available are invaluable. I have a great mentor who is well-versed in Prophix and she is so helpful. Having someone devoted to Prophix within your organization, if possible, is a great asset to keeping the software usable. Review collected by and hosted on G2.com.

What problems are you solving with the product? What benefits have you realized?

I love running Ad Hoc's and being able to download the transaction data to excel. Review collected by and hosted on G2.com.

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Financial Analyst
Mid-Market(51-1000 emp.)
Validated Reviewer
Verified Current User
Review source: Organic
What do you like best?

It is really nice to have all of our financial information in one location instead of multiple Excel spreadsheets in multiple places. It is easy to access and easy to compile ad hoc reports as needed. Review collected by and hosted on G2.com.

What do you dislike?

It can be difficult sometimes to translate something that you did in Excel to Prophix. Having said that though the CSP team is a great resource to work through those type situations. Review collected by and hosted on G2.com.

What problems are you solving with the product? What benefits have you realized?

It is a huge help in our budget process. It allows us to oversee, coordinate, build, and review the budgets and the budget process.

It allows us to distribute month end reports in a more timely manner.

It allows us to pull and send information to the Executive team in a much quicker manner.

We have developed Customer Profitability reports that we are beginning to share with our teams Review collected by and hosted on G2.com.

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AP
Enterprise(> 1000 emp.)
Validated Reviewer
Verified Current User
Review source: Invitation from the seller
What do you like best?

Prophix is a solution that is all about the users. The software is extremely user friendly and easy to implement. The customer service team is responsive and motivation to help provide a timely solution. Review collected by and hosted on G2.com.

What do you dislike?

There is very little to dislike about the software, there are minor bugs that pop up with in the system however the support team is continuously fixing them. Review collected by and hosted on G2.com.

What problems are you solving with the product? What benefits have you realized?

Prophix was originally mention to be our budgeting solution. It took us out of a cycle of excel spreadsheets. Over time our use of Prophix has grown greatly. We also use the software for a rolling forecast, statistical analysis, financial reporting and more. Recently we have automated our monthly and annual financial reports. Review collected by and hosted on G2.com.

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AN
Mid-Market(51-1000 emp.)
Validated Reviewer
Verified Current User
Review source: Invitation from the seller
What do you like best?

Prophix budgeting has increased efficiencies, streamlined processes by enabling multiple staff to be inputing and reviewing budgets at the same time, and ensures integrity of the data!

Monthly financials are now produced in Prophix enabling us to review and analyze as well as distribute reports automatically in PDF or Excel. Review collected by and hosted on G2.com.

What do you dislike?

The learning curve...for those of us that use it daily or weekly, it's second nature as if we are using Excel; however, those that only access once a month or annually to prepare budgets need refreshers. Review collected by and hosted on G2.com.

Recommendations to others considering the product:

If you spend the time during implementation to have hands-on training, it will pay off in the long run. They are awesome at teaching, not just doing it for you. Review collected by and hosted on G2.com.

What problems are you solving with the product? What benefits have you realized?

No more broken links in Excel! Financial reports automatically produced without having to format and distribute manual every month! Budgets are more accurate with details and audit trail. Review collected by and hosted on G2.com.

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Enterprise(> 1000 emp.)
Validated Reviewer
Verified Current User
Review source: Invitation from the seller
What do you like best?

Prophix is so versatile. Originally Prophix was acquired to just solve a budgeting need. However the software is so much more powerful than that. It gives the ability to forecast, budget, produce financial reports, cash management, project planning and more. Review collected by and hosted on G2.com.

What do you dislike?

There aren't too many things to dislike about the software. If there are minor things that aren't as flexible or don't have the ability to have the users control them. Review collected by and hosted on G2.com.

What problems are you solving with the product? What benefits have you realized?

Budgeting with in Prophix has removed the human errors that can occur with using excel. It has also eliminated the use of multiple complex spreadsheets that can break when they are all linked together. Review collected by and hosted on G2.com.

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Financial Planning & Analysis Manager
Mid-Market(51-1000 emp.)
Validated Reviewer
Verified Current User
Review source: Invitation from G2 on behalf of the seller
What do you like best?

My favorite part of the program is the Ad Hoc function. Having all of our financial and statistical data available to pull in any format at any given time is extremely helpful. Review collected by and hosted on G2.com.

What do you dislike?

It takes a long time to master all of the functions and quirks of the program. It can be complex and you really need a dedicated administrator/team to learn everything that can be done and how to manage it. Review collected by and hosted on G2.com.

What problems are you solving with the product? What benefits have you realized?

We have used it to streamline our budget process and to build reports for better analysis of our performance. We also use it for monthly financial reporting. Review collected by and hosted on G2.com.

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UI
Enterprise(> 1000 emp.)
Validated Reviewer
Verified Current User
Review source: Invitation from the seller
What do you like best?

It was very easy to be able to pick up the basics of Prophix. Without being an expert I am still able to get everything I currently need from the system. Review collected by and hosted on G2.com.

What do you dislike?

It is a little more challenging trying to master the more complex functions of Prophix. Review collected by and hosted on G2.com.

Recommendations to others considering the product:

In my experience Prophix is a great system for end users because it is fairly simple to pick up. While I think being in an administrator role is much more complex, for a large company with many users I think Prophix functionality has been great. Review collected by and hosted on G2.com.

What problems are you solving with the product? What benefits have you realized?

I use Prophix in my role mainly for financial projection and budget, as well as a way to access general ledger detail. Prophix has simplified all of these processes for me and my team. Review collected by and hosted on G2.com.

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UI
Enterprise(> 1000 emp.)
Validated Reviewer
Verified Current User
Review source: Invitation from the seller
What do you like best?

The ease of use for ad hoc reporting is great. The ability to build and save templates for reports that are pulled on a regular basis. Review collected by and hosted on G2.com.

What do you dislike?

The cloud implementation did not go smoothly. It took multiple attempts and have since run into issue now that we are fully implemented. Review collected by and hosted on G2.com.

Recommendations to others considering the product:

NA Review collected by and hosted on G2.com.

What problems are you solving with the product? What benefits have you realized?

Reporting and analysis is faster with Prophix Review collected by and hosted on G2.com.

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Director of Financial Planning and Analysis
Mid-Market(51-1000 emp.)
Validated Reviewer
Verified Current User
Review source: Invitation from the seller
What do you like best?

The time savings in auto updating data in successive periods after developing exactly what you need. Exponential savings is welcome. Review collected by and hosted on G2.com.

What do you dislike?

Integration was challenging due to an illness in the integration team that slowed the process. Review collected by and hosted on G2.com.

Recommendations to others considering the product:

We are in the early stages still, but I am seeing huge time savings potential. Review collected by and hosted on G2.com.

What problems are you solving with the product? What benefits have you realized?

We are able to integrate data from multiple ERP systems into one report and maintain the flexibility in the data. Review collected by and hosted on G2.com.

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AH
Enterprise(> 1000 emp.)
Validated Reviewer
Review source: Invitation from the seller
What do you like best?

I love the flexibility of the software and being able to design it to meet any need for the company. Review collected by and hosted on G2.com.

What do you dislike?

Motivating my end users to be excited about the product and not revert back to old ways of doing things. At times the reports can take a lot of time to open. Review collected by and hosted on G2.com.

Recommendations to others considering the product:

If you are looking for a dynamic tool to help you with your Budgeting and month end duties, look at Prophix! Review collected by and hosted on G2.com.

What problems are you solving with the product? What benefits have you realized?

Our Finance Department is now able to get accurate information on a timely basis to anyone who asks for data and/or reports. We have realized many benefits including the available for more analysis time and at the same time, working less hours. The biggest benefit has been wage analysis. Salaries are out biggest expense and prior to Prophix, we really did not have an accurate way to really dig into wages in a timely manner. Review collected by and hosted on G2.com.

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Owner/Operator
Mid-Market(51-1000 emp.)
Validated Reviewer
Verified Current User
Review source: Invitation from the seller
What do you like best?

The training and customer service is excellent. They really want customer satisfaction and they are dedicated to creating a long term relationship. Review collected by and hosted on G2.com.

What do you dislike?

To get the full potential of the software, the administrator should have an above average level of technical knowledge and understanding. Review collected by and hosted on G2.com.

What problems are you solving with the product? What benefits have you realized?

Seemless report consolidation. Online reporting of financials. Accurate data quickly and readily available. Review collected by and hosted on G2.com.

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AC
Enterprise(> 1000 emp.)
Validated Reviewer
Verified Current User
Review source: Invitation from the seller
What do you like best?

Being able to pull together transactional data into a model for enhanced reporting and analysis is the best part. Review collected by and hosted on G2.com.

What do you dislike?

There isn't anything that I dislike but will find even more value when they release the Power BI connector that we use for a lot of BI reporting. Review collected by and hosted on G2.com.

What problems are you solving with the product? What benefits have you realized?

All of our financials are automated and no longer in excel spreadsheets which are error prone and not sustainable as we continue to grow. This drove some more standardization in our GL and Jobs so that we can evaluate apples to apples across our many companies. Review collected by and hosted on G2.com.

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AF
Small-Business(50 or fewer emp.)
Validated Reviewer
Verified Current User
Review source: Invitation from the seller
What do you like best?

possibility for multiple users to input data Review collected by and hosted on G2.com.

What do you dislike?

big templates with complex calculations can be slow Review collected by and hosted on G2.com.

Recommendations to others considering the product:

It's a great software for small and mid sized business. Would recommend Review collected by and hosted on G2.com.

What problems are you solving with the product? What benefits have you realized?

revenue forecasting with accountability Review collected by and hosted on G2.com.

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AM
Mid-Market(51-1000 emp.)
Validated Reviewer
Verified Current User
Review source: Invitation from the seller
What do you like best?

Once you get used to it Prophix is a great tool to analyse not just financial information but other data too. Quick to manipulate and drill into details, it has really helped with consolidating our information from a global perspectiv