Product(s): Prophix One
Overall Comment:"Overall, the application Prophix One Financial Consolidation is extremely user friendly and very easy to learn and use. It offers a variety of useful possibilities and the constant commitment of the development and support teams to always improve it make it an interesting software to watch closely. The product is evolving rapidly, with the subtle ability to evolve without causing confusion to the users. The enhancement of existing functionalities, the improvement of the user experience and the creation of new tools that are intelligently integrated into the software are done frequently, discretely, with a strong majority of positive impacts (instead of disturbances that we can too often experience with a variety of software upgrades). The helpdesk and their development team are always able to provide quick assistance whenever we need it. The possibilities allow our group to mainly easily handle non-controlling interests, the differentiation between Local GAAPs and IFRS, subconsolidations, integration of data from different sources, intercompany reconciliation, financial reporting, consolidation eliminations, and much more. Not only does it reduce the time consumption of our consolidation process, but it also increases the accuracy with the automation of processes, the financial reporting, the audit reporting and the validation rules."
It's fast: The first term that comes to my mind is fast, in the sense that the implementation is fast, the evolution of the product is fast, the assistance from the helpdesk is fast and globally, the features of the software are fast. The software is adapting itself to the needs of its clients, and everyone is benefitting from it. User friendly: Using the software many hours per day, the fact that the software is user friendly is a big strength. It's easy to learn and use and whenever there is an evolution, it is well integrated in the software and documented. The menus, buttons, and logic of the system for any feature have been designed and redesigned over time, optimizing handling. Paying close attention to clients: The software was implemented a long time ago, and we still feel that the company is listening to us, giving very efficient support whenever required.
- The close management has room for improvement. It is less user friendly than other features (it's not adapted to the screen and in my opinion, it is giving confusion instead of clarity about the completion status). Also, it lacks flexibility concerning the configuration of the tasks. - The Excel Add-In provided by Prophix is essential but sometimes the stability of this add-in is fragile. - The 'dimensions' feature is extremely useful for integrating non-financial data into our consolidation process, however the integrated reports in the software are limited and we are consequently very dependent on the Excel Add-In for the reporting on these data.