Prophix Software Reviews & Product Details

The FP&A platform has significantly improved the efficiency of our monthly reporting and made managing the close process much easier. As our organisation has grown, Prophix has played a crucial role in helping us onboard new entities smoothly. Implementation process is great as they have a consultant show you how to do all the setup and configuration meaning you can update or create new models with ease in the future. Review collected by and hosted on G2.com.

Prophix has grown rapidly by introducing new modules, and I find it challenging to keep up with all the changes. However, this also shows that they are making significant investments in the platform. 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.

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.

We've been using Prophix for several years now, and the experience has been overwhelmingly positive. As a corporate performance management (CPM) solution, Prophix has transformed how our finance team handles budgeting, forecasting, reporting, and analysis.

Prophix truly shines in automation and data integration. We were able to connect it to multiple data sources, streamlining our month-end close and enabling real-time insights. The time we’ve saved on manual processes alone has been a game changer. Plus, the version control and audit trails help us maintain data integrity and comply with internal controls.

Another standout feature is the scenario planning capability. We can easily run what-if analyses, which has helped us make more confident, data-driven decisions in a volatile business environment. The ability to quickly pivot and model different outcomes is invaluable. Review collected by and hosted on G2.com.

While Prophix offers a powerful suite of features for financial planning and analysis, one of the main challenges we encountered was its steep learning curve. Despite the intuitive interface, the software’s depth and flexibility require a significant time investment to fully master, especially for users who are new to CPM tools or lack a background in data modeling. Initial setup, including building data models and configuring integrations, can be complex and overwhelming without strong training or support. While Prophix does offer helpful resources and responsive customer support, organizations should be prepared to allocate time and training to ensure users become comfortable and can leverage the platform's full capabilities. Review collected by and hosted on G2.com.

The process of data consolidation gas been automated by Prophix

All financial data is well centralized with accurate classification for multiple users to access

The tool successfully collaborates with multiple budgeting extensions, making it more convenient

We predict multiple scenarios using this app Review collected by and hosted on G2.com.

The reporting designs are limited, which is a huge challenge and concerns

The format of this tool needs some customization for efficient reporting Review collected by and hosted on G2.com.

We’ve been using Prophix for a few budget cycles now, and it’s made a big difference in how we manage forecasting and reporting. The main benefit is getting out of manual spreadsheet work.Prophix lets us consolidate data in one place, build reports that are repeatable and distributable, and give division leads better visibility into their numbers. Review collected by and hosted on G2.com.

Some quirks with the template studio are annoying. Review collected by and hosted on G2.com.

Prophix is great tool for reporting and presenting financials. We have several branches that require separate reports, and Prophix is the perfect program to help prepare and present financials. Review collected by and hosted on G2.com.

Prophix can be tricky to get a hang of at the start, but they have a great support staff to answer any questions you may have. They also provide great training and learning videos to help. Review collected by and hosted on G2.com.

Prophix is a user friendly software, both admin and end user experience. The best thing about Prophix is there Customer Success Program (CSP). The CSP has outstanding support and resources. In addition, we have built great relationships with many individuals at Prophix. They are eager to solve problems and want you to succeed. Review collected by and hosted on G2.com.

Due to the nature of our business, our transaction count is extremely large. The one continued hiccup we've experienced is performance. That has been the only dislike about Prophix. Review collected by and hosted on G2.com.

You can have everything in one place no matter if it's budgeting, forecasting or reporting. It can seamlessly integrates with your identity provider for SSO needs. Review collected by and hosted on G2.com.

Sometimes it feels slow but maybe it's just the network or something related to cloud. User may find it difficult initially if they weren't trained. Review collected by and hosted on G2.com.