Last Updated on 7 years by RichBohn
This CRM Review examines Prophix Performance Management.
In-Depth CRM Review
Prophix Performance Management
Prophix Software Inc.
350 Burnhamthorpe Road West
Mississauga, Ontario L5B 3J1
CRM Category: Sales Management Support – Cloud
Sub-Category: Performance Management
Seats: Small Enterprise
About the Company:
Prophix Software is a leading developer of solutions designed to automate financial processes including budgeting, planning, reporting, analysis, and performance management for the mid-market. Thousands of finance leaders around the world use Prophix to empower their organization and gain greater insight into business performance. Prophix and its partners deliver the best value by combining high end functionality, low total cost of ownership, and the fastest implementations in its class.
About the Product:
Create measurable targets against your business strategies
An integrated performance management application that empowers organizations with budgeting, planning, forecasting, reporting, consolidations, and personnel planning capabilities. Prophix enables organizations to create measurable targets against their business strategies ensuring that corporate objectives are met.
Eliminate spreadsheet frustration
Prophix makes data entry simple for contributors and allows for the automatic consolidation of data, eliminating the task of gathering and linking multiple workbooks or cutting and pasting data. Create budgets using a familiar spreadsheet interface, with control and without the hassle of verifying accuracy. Prophix leverages a controlled workflow cycle to manage the budgeting process, which incorporates optional due dates and reminders for tasks, such as data entry, approvals, processes, or journal entry adjustments.
Allow users to add line item schedules and user comments and budget using a top-down or bottom-up budgeting approach. Prophix streamlines budgeting by automatically consolidating data from different departments to the corporate plan and provides access to users anytime and anywhere –on the local area network, remotely connected over the Internet, or offline using data entry templates.
Forecast with speed and react to market conditions
Prophix gives you the tools that ensure forecasts are reflective of changing market conditions and makes data readily available to forecast on the fly. Create expense or sales forecasts and other projections with easy-to-use Wizards, using account budgets or actual data–or a calculated projection using various formulas. By linking models behind the scenes, Prophix makes it simple to create frequent forecasts with accurate data.
Create a single source of truth
Prophix saves time and ensures data is accurate by creating a centralized data source. Consolidated financial reporting is made easier–create adjusting journal entries, allocate revenues or expenses, and perform intercompany eliminations easily within the integrated Financial Controller module. Consolidate data from any ODBC-compliant source at a click of a button, or completely free the finance staff from consolidation tasks by automating imports to run on schedule. Easily manage multiple currencies without handling broken spreadsheet links or formula errors.
Quickly create and analyze multiple planning scenarios
Whether creating short-term operational plans or long-term strategic plans, scenario management with Prophix has never been more flexible. Using the interactive, graphical Delta Analysisâ„¢ tool or InfoFlexâ„¢, create different business scenarios based on actual or budget data–or based on other scenarios. From resource usage or capital expense planning to revenue planning, Prophix offers the ability to test business assumptions and proactively plan scenarios. With Prophix, take strategic plans even further; generate measurable KPIs and monitor changes in dashboards or scorecards.
Give users the power to analyze data
Eliminate the dependence on finance personnel and allow them to spend more time on decision making rather than data processing and validation. With specified roles and permissions, allow users to securely perform their own data analyses. Give other departments the ability to work with reports interactively to jump straight into analysis. Users can slice and dice data or drill up, drill down, and drill through to source data systems using a simple drag-and-drop interface. Prophix also provides visuals to make it easy to analyze data and identify variances at a glance.
For complete pricing details, please contact the company directly.
For a proper demo of this CRM solution:
For a proper demo of this CRM solution, please contact the company directly.
Rich’s View of Prophix Performance Management:
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