Prophix

Founded in Canada in 1987, Prophix began as a software distributor implementing financial applications. In the year 2000, the organization released its own performance management software, also called Prophix, recognizing the market’s need for innovative planning and reporting systems. Today, Prophix has more than 230 employees worldwide and over 3,000 customers in more than 100 countries, covering all company sizes and industries. Prophix customers mainly come from North America, while approximately 350 are located in Europe.

Prophix is a unified Corporate Performance Management solution that delivers insight into finance, operations and business performance with a focus on business user experience and ease of use to streamline model and process management. The product is focused on budgeting, forecasting, reporting and analysis, operational planning, personnel planning, revenue planning, project planning and financial consolidations.

Reports, plans, budgets, forecasts can also be pushed to PDF through a scheduled process or on demand.  Prophix offers a Microsoft Office connection allowing the export of data to excel and the ability to embed live & interactive Prophix within a PowerPoint slide. Data and metadata in Prophix is stored in Microsoft SQL Server as well as the database’s multidimensional component Analysis Services.

The vendor has a strong focus on business departments in mid-size companies with typically 50-100 users per implementation. However, there are much larger implementations as well. Prophix is available on-premises as well as in the cloud leveraging AWS.

Prophix does not confine itself to any one single planning topic (financials, sales, HR etc.). The product can be used to create individual planning applications with capabilities for top-down and bottom-up planning including workflow functions to control planning processes. It contains little predefined business content (e.g. for financial planning). However, partners do offer predefined business content with Prophix for specific topics or industries. Planning forms, like reports, are created in an Excel-like environment in Prophix. An installed Windows client, an HTML5 web client and an Excel add-in are available as front ends to enter plan data or to work with reports, analyses and dashboards.

Besides planning, Prophix also provides comprehensive capabilities for BI and analytics. Standard reporting in a formatted and if required print-oriented way is equally supported like ad-hoc queries based on OLAP methodologies (drill functionality, slice & dice, pivoting etc.). For visualizing data, e.g. in management cockpits or dashboards, standard business graphics as well as more advanced chart types are available.

User & Use Cases

Besides planning, customers mainly use Prophix today for ad hoc query and reporting (91 percent), standard/enterprise reporting (84 percent) and basic data analysis (53 percent). 57 percent of respondents plan to use it for advanced analysis and 50 percent for dashboards/scorecards in the future. Prophix targets mid-sized companies across all industries. 79 percent of our sample of Prophix customers come from mid-sized companies (100-2,500 employees) with a median of 30 users (with 25 of them using planning functionality), but the mean of 58 users (45 for planning) indicates there are also some larger implementations. 79 percent of Prophix users are planning users – well above the survey average of 63 percent – reflecting the fact that Prophix is essentially a planning tool rather than a BI tool.

Current vs. planned use (besides planning)

N=32

Percentage of employees using Prophix

N=33

Planning users (as a percentage of all users)

N=33

Total number of users per compan<

N=33

Planning users per company

N=33

Company size (number of employees)

N=33

Summary of Prophix highlights

With 23 top ranks and 27 leading ranks in three different peer groups, Prophix once again achieves an excellent set of results in this year’s Planning Survey. Convincing ratings in numerous important KPIs help to consolidate its position as an effective CPM vendor that delivers considerable benefits to its customers. Companies can benefit from using Prophix in terms of reduced planning complexity, improved employee satisfaction and more precise/detailed planning. An impressive 94 percent of respondents are ‘somewhat satisfied’ or ‘very satisfied’ with Prophix, a major reason behind its high recommendation rate of 94 percent. Prophix offers a comprehensive CPM solution focused on budgeting, forecasting, reporting, analysis and financial consolidation, which customers appear to be very satisfied with.

Business benefits – Top-ranked

Peer Group: North American Vendors

Customer satisfaction – Top-ranked

Peer Group: BI-focused Products

Reporting & analysis – Top-ranked

Peer Group: Flexible Planning Platforms

Vendor support – Top-ranked

Peer Group: BI-focused Products

Workflow – Top-ranked

Peer Group: Flexible Planning Platforms

Want to see the whole picture?

BARC’s Vendor Performance Summary contains an overview of The Planning Survey results based on feedback from Prophix users, accompanied by expert analyst commentary.

Purchase the Vendor Performance Summary

Planning Survey 19 Awards

Prophix

Peer Groups BI-focused products, Flexible planning platforms, North American Vendors
VendorProphix
Number of responses37
ProductProphix
Offices7 offices worldwide in Canada (HQ), United States, Denmark, the United Kingdom, Germany and Brazil
Employees> 230
Customers> 3,000
Revenues (2018)n/s
Websitewww.prophix.com

Product Video

Screenshots from Prophix

Quotes from the Planning Survey 19

Great application. Has streamlined the budgeting and forecasting processes. Has also improved our reporting substantially.
Head of business department, manufacturing, 101- 2,500 employees
Amazing tool, great value for the price, and the company really takes the user‘s requests into consideration when updating their product. I have never seen a software so focused on the user experience, and that makes for a great tool.
Head of business department, manufacturing, 101-2,500 employees
Very favorable. It is a flexible, robust and cost effective application that doesn‘t require dedicated IT resources. Our finance team administers the application.
Line of business employee, marketing, 101- 2,500 employees