PROPHIX

Posted by admin on July 1, 2011 under Budgeting and Business Intelligence | Be the First to Comment

We recently completed a budgeting/reporting software selection project and PROPHIX made it to the Short List, so we decided to highlight them in this post.

Here are a few facts about PROPHIX:

• Formed 1987, privately held. Headquartered in Missaugua Ontario, Canada. 150 employees. 85% of 2,000 customers are U.S. based
• Wizard driven tool, with many graphical queues to assist infrequent users in budget preparation
• Graphical User Interface and navigation, with drill down/out to source data and systems
• Allows document attachment to budget line items
• Provides Business Intelligence reporting including financials, consolidations, roll-up’s, Dashboarding, etc. in addition to budget functions
• Business models are created with Microsoft SQL Server and Analysis Services 2008.
• Built-in Data Warehouse for reporting and storage of financial data/metrics
• Fully flexible capabilities and detailed budget algorithms out of the box

PROPHIX Software is a budgeting, planning, reporting, analysis, and performance management tool for the mid-market. The product allows for the automatic consolidation of data, eliminating the task of gathering and linking multiple workbooks or cutting and pasting data. It uses a spreadsheet interface, and has a 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.

The system allows users to add line item schedules and user comments and budget using a top-down or bottom-up budgeting approach. PROPHIX automatically consolidates data from different departments to the corporate plan and provides access to users on the local area network, remotely connected over the Internet, or offline using data entry templates.

If you are a mid-market organization looking for a budgeting/planning/reporting solution – PROPHIX should be one of the vendors on your list for consideration.