Prophix One
3 Reviews 4/5 ★ ★ ★ ★ ★A financial performance platform for medium-sized companies to large enterprises.
Product Overview
Prophix is a financial software application that provides a holistic approach to financial planning, budgeting, accounting, compliance, and reporting for mid-sized and large enterprises. Key features include advanced data processing using in-memory technology, streamlined workflow and user management, monthly account reconciliation and validation tools, and strategic cash flow forecasting capabilities.Pros
- Cloud and on-premise implementation
- Spreadsheet-style interface
- Supports all types of financial and non-financial budgeting
Cons
- Could be more user-friendly for non-admins
- Free trial is limited
- Pricing details not readily available
Target Market
Medium-sized companies with over 200 employees to large enterprises that require comprehensive financial management, budgeting, and reporting tools for consolidating complex financial structures and providing detailed financial analysis.Video Overview
Key Features
- In-Memory Technology: Utilizes in-memory cube technology to enhance performance, allowing teams to manage complex plans and large datasets with increased speed and accuracy.
- Comprehensive Suite: Includes applications for account reconciliation, intercompany management, financial consolidation, disclosure management, financial planning, and analysis.
- Budgeting and Planning: Provides tools for collaborative budgeting, forecasting, and variance reporting.
- User Management and Security: Provides a secure, single login system with centralized user management, making it adaptable to various finance department structures.
- Account Reconciliation: Includes tools for monthly account reconciliation and validation, ensuring financial accuracy.
Popular Industries That Use Prophix One
- Construction
- Healthcare
- Higher Education
- Manufacturing
- Professional Services
- Utilities
Product Overview
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User Reviews of Prophix One
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Built to Fully Optimize Financial Reporting
It is built do streamline and automate functions such financial planning, reporting, consolidations, account reconcilliation, ESG reporting etc. It is built to put more of a structure and controls around the process for the office of finance and give them more optimized solutions over excel based processes.
Pros
Truly a software the FP&A functions in the system compared to other similar tools that are either just an excel add-ins or with limited functionality.
Cons
Can have bit of a learning curve since it is a fully productized tool but that is understandable because this is not just an add-in, it is built to fully optimize the financial reporting and planning processes.
- Specialty Retail
- 251-1K employees
- Annual revenue $50M-$100M
Prophix One Review
It is very difficult aside from the administrator to do anything in the system and there is no place to see all the information and run consolidated reports
- Real Estate
- 11-50 employees
- Annual revenue $1M-$10M
Prophix One Review
Pros
Simplifies the budgeting process. Allows collaboration when creating budgets.
Cons
Could be a little more user-friendly.
