117 Prophix Software Testimonials

"Using Prophix's software to automate the creation of our annual budget has been a real game-changer - and we have improved our forecasting, too. We also generate reports on-demand that compare actuals, budgets, projections, previous year data, and variances."

“Prophix has improved every single aspect of our budgeting process. Instead of spending time setting up the budgeting process, we are instead able to better analyze and understand the budget/product that we are producing in conjunction with the program managers.”

"The Prophix PowerPoint add-in will improve the effectiveness of meetings where CPM data is presented. The “live” link to the software is the next step in the evolution of the way finance teams present, analyze, and even modify data in meetings."

"From a budgeting perspective, we record revenue and expenses on a very detailed level, the ability that we can set up alternate assumptions for our projections down to the category level and through lines of services allowed us to save months during our budgeting cycle."

"It is a strategic imperative that Finance departments evolve, and yet many such efforts fail. Why? I think the main reason is lack of support from leadership."

"The days of simply setting budget targets once a year and then executing that plan are over. Now, Finance leaders need the ability to continuously plan as we get new information, run what-if scenarios, and accurately model out the impact of changes in business strategies."

"Even though startups or small companies can be more agile, they still must track and correlate unique KPIs to their industry. Larger firms could borrow some of these practices."

"We are in the era of big data, which in the context of finance means that the quality and quantity of data to analyze has increased materially. Digitally transformed finance teams are those that one, are actively automating low value, transactional activity or repetitive tasks with software, bots or ai, and two, are implementing tools that aggregate and analyze data in new and meaningful ways."

"We were bidding on jobs in one system, scheduling in another and didn’t have any supporting data on whether or not we were actually going to be able to resource the work on time. We’re now able to project that type of information with Prophix and service our customer better."

"Prophix gives you a great ability to use your current financial data and forecast future revenues and expenses. The additional level of data analysis ability pushes it over the edge. If the data is in your ERP and you want to know something about it, Prophix gives you a way to get that answer."

"With Prophix, they conduct variance analysis of how many beds they are licensed to occupy and how many beds are currently occupied. As a result, Senior Living Group is able to maintain a 98.5% occupancy rate."

"With a single source of the truth, the accuracy of reported numbers was increased, and MHC can track real-time KPIs to assess performance."

"The implementation of Prophix has resulted in considerable advantages in terms of the quality of data and time savings.”

"It's all about the future. You can't change the past. A rolling forecast and budget are an integral part of digital transformation. All businesses, regardless of size are impacted by cash flow. More businesses fail due to cash flow issues than profitability and financial reporting. The tools and skill sets are available, mindset is the biggest challenge. The future is about predictability and prescription while the past is focused on accuracy and reporting. Both are important, but predictability and prescription is the differentiator in sustaining success and remaining future ready."

"If your business is growing and evolving, your method for projecting your business finances needs to keep up with it. This is when using rolling forecasting can be beneficial to help you gain a more accurate picture of your business. Three tips to make this approach more effective are to: 1) align it with your key business goals; 2) identify the revenue drivers for each objective which relate to your end goals; and 3) use these data points to create better-focused financial plans."