Search
Close this search box.
Customer Satisfaction
6.9/10
6.9
User Experience
6.3/10
6.3
Functionality
6.9/10
6.9
Business Value
5.9/10
5.9

Prophix

What is Prophix?

Integrated, cloud-based performance management platform for mid-sized companies focused on planning, budgeting and forecasting, reporting and analysis. Comprehensive functionality for financial consolidation and close, management reporting, intercompany reconciliation as well as specialty solutions for IFRS 16 and iXBRL are available with the integration of Sigma Conso.

BI, Analytics & CPM
● Reporting / Dashboards
● Analysis
– Advanced Analytics
●● Planning
●● Financial Consolidation

= Function covered, ●● = Functional focus

= Function covered
●●
= Functional focus

About Prophix

Self-description of the vendor

No vendor self-description available
References
No data available
Partners
No data available

Prophix User Reviews & Experiences

The information contained in this section is based on user feedback and actual experience with Prophix.

The information and figures are largely drawn from BARC’s The BI & Analytics Survey, The Planning Survey, The Financial Consolidation Survey and The Data Management Survey. You can find out more about these surveys by clicking on the relevant links.

Why users buy Prophix and what problems they have using it

Premium content. Unlock with BARC+.
For just €79 per month (€948 per year) you can access all the paid content on www.barc.com.
Your benefits:

Full user reviews and KPI results for Prophix

All key figures for Prophix at a glance.

Premium content. Unlock with BARC+.
For just €79 per month (€948 per year) you can access all the paid content on www.barc.com.
Your benefits:

Individual user reviews for Prophix

Role
Head of business department
Number of employees
Less than 100
Industry
Media
Source
BARC Marketing, The Planning Survey 24, 04/2024
What do you like best?

It is very flexible in that you can set it up to handle almost any type of analysis that you normally do. You can make design different financial statements, build budgets, forecasts, and cash flow forecasts.

What do you like least/what could be improved?

The structure is very complex. It takes a great deal of training to understand how to set up the models just to get the base information structure in place. Building reports also requires training. It would save a lot of time if there were out of box reports that the user could then modify for use.

What key advice would you give to other companies looking to introduce/use the product?

It is fine if there is a dedicated FP&A function that will work in the system.

How would you sum up your experience?

It is very rich, but very complex to learn.

Role
Chief Operating Officer
Number of employees
Less than 100
Industry
Consulting
Source
BARC Panel, The Planning Survey 24, 04/2024
What do you like best?

Its modern and easy to use interface.

What do you like least/what could be improved?

Some of the terminology they use was unfamiliar to me.

What key advice would you give to other companies looking to introduce/use the product?

Make sure you know your requirements well before you begin the implementation.

How would you sum up your experience?

I'm a big fan of the company and of the software.

Role
Member of a cross-departmental BI team
Number of employees
100 - 2.500
Industry
Construction
Source
BARC Marketing, The Planning Survey 24, 04/2024
What do you like best?

Relationships built. Their CSP program. Best source of money.

What do you like least/what could be improved?

Issue of large users using one report and the slowdown of the system. Limitations on overall system. They don't want you to have too many versions/cubes but yet in order to do what you need, you need more than recommend.

What key advice would you give to other companies looking to introduce/use the product?

Great product for forecasting or simple business uses. If you're looking for more integrated and leading-edge reporting, give others a closer look.

How would you sum up your experience?

Overall, good product. Great CSP program for its price. Still has room for improvement. Could create new licensing structure that allows editing but not as much admin functionality.

Role
Project manager for planning from business department
Number of employees
100 - 2.500
Industry
Real Estate
Source
Invited by the vendor, The Planning Survey 24, 04/2024
What do you like best?

Small size of the company resulting in good relationship with the team (vendors, technical consultants but also management). Flexible product and user-oriented functionalities.

What do you like least/what could be improved?

Prices increased significantly since the acquisition by Prophix. Move to cloud was forced.

What key advice would you give to other companies looking to introduce/use the product?

To be well prepared internally before the implementation starts and have enough resources available internally.

How would you sum up your experience?

Good.

Role
Project manager for planning from business department
Number of employees
100 - 2.500
Industry
Media/Publishing
Source
BARC Marketing, The Planning Survey 24, 04/2024
What do you like best?

Ease of use, smart but different design, service consistency, and built-in support team.

What do you like least/what could be improved?

Rising costs, slightly inconvenient ticketing system, and expensive annual support program with little flexibility.

What key advice would you give to other companies looking to introduce/use the product?

Have a decent lead time to implement the product properly with the accounting department.

How would you sum up your experience?

Very good program that shines the more time you put into it.

Role
Project manager for planning from business department
Number of employees
100 - 2.500
Industry
Non profit organization
Source
BARC Marketing, The Planning Survey 24, 04/2024
What do you like best?

Cloud-based data allow real-time access to our financial results, which was a problem for our budget mangers in the past. Workflow allows us to roll out budget and forecast updates more efficiently.

What do you like least/what could be improved?

Template gets extremely slow when pulling a report with 4 dimensions on the columns. This is somewhat not acceptable since even Excel can handle that much data on a pivot table. We cannot filter on the columns, this is very inconvenient.

What key advice would you give to other companies looking to introduce/use the product?

Potential buyers should assess how much data they want Prophix to display as this has a direct relationship with the performance speed of the software.

How would you sum up your experience?

It helps us a lot in our budgeting and forecasting. However, in terms of report building, there are a lot of limitations especially when we have complicated business structure and require lots of data to display.

Role
Head of business department
Number of employees
100 - 2.500
Industry
Entertainment
Source
BARC Marketing, The Planning Survey 24, 04/2024
What do you like best?

Prophix saves me time and increases the integrity of data.

What do you like least/what could be improved?

Not much.

What key advice would you give to other companies looking to introduce/use the product?

Get is sooner rather than later.

How would you sum up your experience?

Excellent. I love Prophix!

Role
Line of business employee
Number of employees
100 - 2.500
Industry
Media/Publishing
Source
Invited by the vendor, The Planning Survey 24, 04/2024
What do you like best?

User-interface is very reasonable once you understand how it works.

What do you like least/what could be improved?

When building reports and dashboards, I would like to have more options for creativity.

What key advice would you give to other companies looking to introduce/use the product?

Be sure to understand all of the processes in detail before moving forward on your own.

How would you sum up your experience?

I really enjoy using this software, it is very intuitive and makes reporting easier.

Role
Head of business department
Number of employees
100 - 2.500
Industry
Insurance
Source
BARC Marketing, The Planning Survey 24, 04/2024
What do you like best?

Power users on the FP&A team (non-IT) can manage almost every aspect of the product use and maintenance. No more long waits and expense related to internal IT or Consultant support. Very easy to train and keep non-financial users engaged. Customer Success Package is very cost efficient - access to a Prophix consultant for a monthly fee to help with new build and best practice. Company personnel are very customer centric. Good culture at the company.

What do you like least/what could be improved?

Once in a while, there is a wait to get to a Prophix consultant with very specific technical skills that we need to consult with.

What key advice would you give to other companies looking to introduce/use the product?

Ask their sales team to do mock-ups in Prophix - that really sealed the deal for us. Seeing our data in Prophix was a game changer. Their sales teams and consultants are accountants, so that makes everything more reliable and believable during the sales process. With any new application, having your data organized before you get to the consultant stage is a must.

How would you sum up your experience?

10 out of 10 - very satisfied.

Role
Director of Business Intelligence
Number of employees
100 - 2.500
Industry
Banking and finance
Source
BARC Marketing, The Planning Survey 24, 04/2024
What do you like best?

Seamless integration with our ERP system completely changed how we plan at our organization. Prior to Prophix, the manual re-keying of data took up most of our time spent on the budget process. Now we can have more insightful conversation and analysis around the budget, increase our frequency of touchpoints with business unit leaders, and decrease the amount of time it takes to produce thoughtful forecast models. Additionally, the ease and standardization of reporting with Prophix has enhanced the quality of our financial reports.

What do you like least/what could be improved?

I don't feel that I have tapped into its full potential. There is some functionality that takes specialty knowledge or extra time to explore the possibilities and then the administration of setting it up. Also, with how customizable the software is, sometimes I don't know if I've built the most efficient model.

What key advice would you give to other companies looking to introduce/use the product?

Put a lot of thought in about reimagining your budget process before going into implementation. The sky is the limit, and we didn't understand exactly how this tool could transform our processes. By simply replacing your current Excel process, you may be losing value that the system is designed to provide easily.

How would you sum up your experience?

It has been a great tool for our organization. It has transformed us from a budget centric organization to a forecast centric organization. It allows us to better predict our resource needs, making us proactive instead of reactive.

Role
Project manager for planning from business department
Number of employees
100 - 2.500
Industry
Not for profit
Source
Invited by the vendor, The Planning Survey 24, 04/2024
What do you like best?

We've switched operating systems and our chart of accounts 3 times in 6 years. Prophix continues to provide us confidence in our data and the ability to do solid historical analysis regardless of various changes is exceptional.

What do you like least/what could be improved?

Moving from on-prem to the cloud was forced. The cloud version has certain deficiencies with page views, lack of pinning open menus, etc. That make ease of use diminished and I believe they have a lot of opportunity for improvement.

What key advice would you give to other companies looking to introduce/use the product?

Overall, it's a good product, there is a high learning curve and taking time to explore the Prophix Academy will be exceptionally beneficial for any new users.

How would you sum up your experience?

Overall, positive. I'd rate the tool & additional resources a 8/10.

Role
CIO
Number of employees
100 - 2.500
Industry
Non-profit
Source
Invited by the vendor, The Planning Survey 24, 04/2024
What do you like best?

Ease of use for end users has been the biggest satisfaction and goal for us with Prophix. Ability to do ad hoc reports and analysis with ease. Vast number of tutorials and learning resources.

What do you like least/what could be improved?

More functionality in Dashboards charts. Lacks the flexibility to move amounts around in charts.

What key advice would you give to other companies looking to introduce/use the product?

Take as much of the learning Academy courses as you can and buy the consulting package.

How would you sum up your experience?

Prophix is a great innovative tool that is easy to use and is packed with great features and functionality.

Role
Project manager for planning from business department
Number of employees
100 - 2.500
Industry
Banking and finance
Source
BARC Marketing, The Planning Survey 24, 04/2024
What do you like best?

Prophix is flexible and I've never encountered a situation where we couldn't achieve something we were looking to do. During implementation, you build your cubes and entire system from scratch, giving the administrators hands on knowledge which has helped tremendously. Customer support is quick and helpful. Overall Prophix is a great tool to use and an amazing vendor to work with.

What do you like least/what could be improved?

I wish you could pin a report to your favorites in data entry mode instead of report mode only.

What key advice would you give to other companies looking to introduce/use the product?

Really take advantage of the hands-on training during implementation. This is the foundation of your Prophix knowledge. If you plan to have multiple administrators, it's important to take turns so everyone gets the experience.

How would you sum up your experience?

Overall, I enjoy using Prophix and it has alleviated our budgeting pain points.

Role
Project manager for planning from business department
Number of employees
100 - 2.500
Industry
Retail
Source
BARC Marketing, The Planning Survey 24, 04/2024
What do you like best?

Cloud based with end user access. Quick access to information.

What do you like least/what could be improved?

Can be slow. Doesn't work well with alternate.

What key advice would you give to other companies looking to introduce/use the product?

Has a learning curve, but powerful once mastered.

How would you sum up your experience?

Good for workflow planning and reporting feel like I could setup more dynamic forecasting in Excel.

Role
Project manager for planning from business department
Number of employees
100 - 2.500
Industry
Education
Source
BARC Marketing, The Planning Survey 24, 04/2024
What do you like best?

The ability to consolidate and quickly draft reports through ad hoc analysis. It is linked directly to our ERP system so the data flows seamlessly along with the details of each transaction. The customer support team is extremely helpful and responsive.

What do you like least/what could be improved?

What key advice would you give to other companies looking to introduce/use the product?

It is great consolidation tool and more user-friendly than the ERP system we have. It is a powerful tool with the ability to do even more than what we are using it for.

How would you sum up your experience?

I would recommend Prophix as I have not had a bad experience with any aspect of business relationship.

Role
Project manager for planning from business department
Number of employees
100 - 2.500
Industry
Not-for-profit
Source
Invited by the vendor, The Planning Survey 24, 04/2024
What do you like best?

Ease of implementation, integration, and use.

What do you like least/what could be improved?

What key advice would you give to other companies looking to introduce/use the product?

Ensure if Prophix integrates with the ERP company is using.

How would you sum up your experience?

It is great software for budgeting, forecasting, reporting, and labor accounting.

Role
Head of business department
Number of employees
100 - 2.500
Industry
Construction
Source
BARC Marketing, The Planning Survey 24, 04/2024
What do you like best?

Adaptability, speed, accuracy, dashboarding, reduced budgeting time from 1 month to 1 week.

What do you like least/what could be improved?

Speed, ability to add members after implementation.

What key advice would you give to other companies looking to introduce/use the product?

It's expensive but completely worth the price point.

How would you sum up your experience?

I think it's a great tool, it's user friendly once you go through implementation, and provides robust reporting, and data analytics. It cut our budgeting time from one month to approximately a little over a week.

Role
Project manager for planning from IT
Number of employees
100 - 2.500
Industry
Banking and finance
Source
BARC Marketing, The Planning Survey 24, 04/2024
What do you like best?

Ease of use for non-financial users. Very flexible tool.

What do you like least/what could be improved?

The Excel Add-In is only available for Office 365 users.

What key advice would you give to other companies looking to introduce/use the product?

Evaluate this product. It will probably meet your needs!

How would you sum up your experience?

Very favorable.

Role