119 Prophix Software Testimonials

“This pandemic has heightened the need for contingency planning as few were prepared for the size and scope of this crisis. The most common contingencies revolve around all of the core areas of the business and especially the financial statements - balance sheet, income statement and cashflows.”

"The expense allocation process is the crown jewel (in my opinion) in our Prophix toolkit. There are many intricate subprocesses and calculations that aren’t tied to our general ledger accounts. That was the trick in building it out, but it really is a strategic advantage for SFG in how we accurately and transparently allocate expenses to business units and product lines."

“It is very helpful to have possible Excel templates for people who refuse change and are not into learning new software. With Prophix, data is housed efficiently and it’s easy to do ad hoc analysis. Prophix is very easy to use and it has a nice interface.”

"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."

“The best CFOs know what they know best, and they know who knows what they don’t. Being a leader at that scale, you need to know how to delegate, work well with others and you must know who to turn to in terms of specific expertise.”

"We were able to put together a report in Prophix that we have scheduled to run every month. That report has been transformative for so many people because they now have insight into something that was veiled or hidden. With Prophix, I can get the right information to the right people so they can act."

"Prophix perfectly meets the quick close goals and need for frequent reporting of international groups like ours. Prophix’s quality support ensures the project will be completed on time.”

“Prophix has given us better control of our budgeting, planning, and analysis than we ever had before. We also reduced the time required for our data consolidation from one week to just a few minutes each month.”

“We’re convinced our consolidation process has already improved by acquiring Prophix. The new functionality will help us further automate and perfect our group consolidation and reporting process.”

“Prophix allows us to carry out our consolidations very quickly. One of our objectives for this year is to implement a monthly consolidation and setup KPIs for certain entities in the group. Because of the autonomy we have, we can adjust parameter settings according to the evolution of the group. It also gives us the flexibility to answer new requests from the management team.”

"Financial Consolidation perfectly meets our needs in a context of strong growth: quick production of quarterly consolidated accounts which are easy to audit. It provides us with excellent autonomy to manage changes in scope, prepare reports and notes, and more.”

"With Financial Consolidation, we get the correct figures in the most straightforward way possible. The reporting tools provided in the software offer the freedom of Excel combined with the power and reliability of an excellent consolidation reporting software package.”

"Financial Consolidation brings clarity, accuracy, and confidence to our entire group reporting. This is one of the most user-friendly solutions we have ever used.”

The migration from our consolidation in Excel to Prophix’s automated solution has provided us with numerous benefits. Our data is now more reliable, both at entity and group level, processes are more streamlined, and we are better in control. Financial Consolidation has made it possible for me to produce a monthly consolidation and elimination for balance sheet, P&L, cashflows, budgets and forecasts, and I now have a complete overview of the figures with all the necessary details, instead of one time a year at the closing period.”

"What I like most about Prophix is its flexibility. We have complete control of the software. The flexibility and performance of the application allows us to deliver a high value-added service to our customers, whether it is consolidation outsourcing or support and consulting.”