What is most valuable?
From a planning perspective, the budget templates were the most valuable. From a data analytics perspective, the ad hoc reporting features, the Prophix for Excel enhancements, and the ability to link data within different cubes were the most valuable features.
How has it helped my organization?
It completely revitalized the way my company did its reporting and analysis. Before Prophix, we completed all of our annual budgets using Excel templates. We struggled with version control issues and lacked a central place for our most accurate data to be housed. After implementing Prophix, we could automatically refresh all budget templates with current information.
What needs improvement?
I think the mobile capabilities could be improved. This was the one area that still needed enhancement.
For how long have I used the solution?
I used this product for two years.
What was my experience with deployment of the solution?
What do I think about the stability of the solution?
What do I think about the scalability of the solution?
How are customer service and technical support?
We got timely responses to our help tickets and questions. Reps were usually happy to take control of our screen and really dive into the problems in real time. Technical Support
Which solution did I use previously and why did I switch?
No previous solution used.
How was the initial setup?
It was straightforward. We were told upfront what they would need from us (Chart of Account Mapping, Department Structure, IT Requirements, etc.) and within six weeks we were up and running.
What about the implementation team?
We used a vendor team. Our vendor team was very reliable and knowledgeable, it was a good team.
What was our ROI?
Words can’t express how much our company benefited from using this product.
- We saved hours from a reporting standpoint
- We greatly increased efficiency
- We enhanced our ability to do analysis and research
And I’m sure that these all resulted in numerous dollars saved.
What's my experience with pricing, setup cost, and licensing?
Original setup costs were around $70K. Outside of regular maintenance, our day-to-day cost was almost zero.
Which other solutions did I evaluate?
Yes, we also looked at Budget Maestro and Adaptive Planning. We liked the presentation and sales pitch from Prophix the most.
What other advice do I have?
If you are still using Excel for budgeting and reporting, this product will change your life and that of your company. Prophix is great software that is constantly improving. The company really seems to value customer feedback when deciding on enhancements for future versions as well.
Which version of this solution are you currently using?
Find out what your peers are saying about PROPHIX, Adaptive Insights, Oracle and others in Business Performance Management. Updated: May 2021.
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