Prophix Software Reviews & Product Details

I find Prophix Software really easy to update and user-friendly. It's great that we can manage it ourselves in-house instead of constantly referring to a support group, which is really beneficial. The software is very flexible, allowing us to add most of our finance team's work into it. It serves as a central location for all of our finance data, presented in a friendly, easy-to-see format, giving us an accurate view of our financial standing. Review collected by and hosted on G2.com.

I can't comment as we are yet to find anything negative to say. Review collected by and hosted on G2.com.

I like the ability of Prophix Software to connect to multiple data points and then cross-section data as appropriate. This feature is great because all of the disjointed data can be brought into one place, allowing me to see the full view of financials or projects without having to go to multiple places. Additionally, the ongoing setup of Prophix Software has been easy and intuitive. Review collected by and hosted on G2.com.

Nothing so far Review collected by and hosted on G2.com.

I find Prophix Software great for easier consolidation, which saves time and cost. I like the low risk of errors it offers and appreciate the quick output. The error reports are useful for highlighting issues, and I appreciate the speed at which reports come out. Review collected by and hosted on G2.com.

Maybe the foreign currency features could be improved. Review collected by and hosted on G2.com.

Prophix is great for budgeting, forecasting and planning. Review collected by and hosted on G2.com.

Some of the charting features in reports could use more custom tools Review collected by and hosted on G2.com.

What I like best about Prophix is how it streamlines all core FP&A processes into an intuitive, automated, and integrated platform. For finance teams—especially in large organizations—it significantly improves both the speed and quality of planning, budgeting, and reporting. Review collected by and hosted on G2.com.

Analysts point out that Prophix’s pricing structure may be a barrier for small organizations or teams with limited budgets. Review collected by and hosted on G2.com.

allows for quick variance analysis and multiple budget scenarios Review collected by and hosted on G2.com.

sometimes difficult to integrate with erp and causes problems 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.

The customer service team at Prophix is wonderful. We have been able to schedule recurring appointments to track and manage our problems over time. We have been given numerous resources to help make the best decisions when it comes to building a cube, creating groups, building a new template, etc. This software has been a great addition to our month end closing process and helps us cut down on closing times. Review collected by and hosted on G2.com.

Initially when utilizing Prophix Software, understanding how the software works and implementing our data can be challenging. One problem that we have run into with our processes is bringing in new data from another platform that we use to track our financials and transactions. Differences in integration can make the ease of using this software harder than it has to be. Some of the formulas that work to pull this data together can be challenging to resolve at times. Review collected by and hosted on G2.com.

You can run adhoc reports any way you like Review collected by and hosted on G2.com.

I can't think if anything at this time. I don't have any. Review collected by and hosted on G2.com.

The flexibility of the software is great. You have the ability to build the system in a way that is flexible to your business needs. The models can be as granular or high-level as you want. Once it is setup, it does an excellent job of allowing you to automate reporting and modeling and maintain various scenarios. Review collected by and hosted on G2.com.

While the flexibility is great, my experience has been that it requires quite a bit of technical/consultancy time to get the integration setup and maintain the software due to the complexity of the implementation. The customer support has also, in my experience, been a bit slow to respond. Review collected by and hosted on G2.com.