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Prophix Software

Vendor Information

Background

A short history. An Impressive track record of success.

Prophix began as a software distributor. After years of implementing financial applications, the company’s founders, Paul Barber and Bob Walker, recognized the market’s need for innovative planning and reporting systems. In the year 2000, the organization developed and sold its first product, Budget 2000.

Today, Prophix develops Corporate Performance Management (CPM) software that automates important financial and operational processes, making companies more profitable and reducing their risks. Business leaders use this software to empower their organizations and gain valuable insight into their companies’ performance.

Prophix and its partners across the globe deliver superior value by combining high-end functionality with low cost-of-ownership and fast implementations. With a product built entirely on the Microsoft SQL Server stack, Prophix streamlines budgeting, planning, reporting, consolidation, and more.

Serving more than 2,000 customer companies in 92 countries, Prophix specializes in the mid-market. Most of our customer companies have annual revenues between $25MM and $1B, or operate as divisions of larger organizations. The company is headquartered in Mississauga, just west of Toronto in Canada, and hosts satellite offices in the UK, Europe, and Brazil. 

Prophix is covered by leading industry analysts, such as the Gartner Group. We have won awards, including the Microsoft Impact Award for Independent Software Vendor of the Year in 2011 and the Bronze International Stevie Award for Customer Service Department of the Year in 2013. Prophix has also received recognition on the Deloitte Technology Fast 500 list, the Branham300, and elsewhere.

Products

 

Prophix by Prophix Software

Corporate Performance Management (or CPM) is an umbrella term used to describe software applications that automate your business’s non-transactional processes – specifically picking up where your ERP system leaves off. Typically, organizations start by using personal productivity tools like spreadsheets to manage processes like budgeting, forecasting and reporting. But unlike spreadsheets, Prophix’s software combines these processes and gives you the ability to develop and implement a broader vision of your company’s performance.

Prophix is an industry leader in corporate performance management

At Prophix, we believe that a single platform for all your CPM requirements is essential. We used our extensive domain experience to develop a single software product that addresses multiple CPM capabilities through a common user interface. We’ve also productized the functionality that in more expensive enterprise systems requires time consuming and expensive customization.

As you can see here, our unified solution supports the complete spectrum of CPM functionality including:

  • Budgeting, planning and forecasting
  • Financial, statutory and management reporting
  • Financial consolidation
  • Profitability modeling and optimization
  • Strategic planning

Prophix provides a foundation to realize your CPM vision

Implementing a CPM solution may seem like a daunting task. But very few of our customers do everything at once. With Prophix you can grow. Start by replacing spreadsheets for your annual budgeting exercise and then use Prophix for the specific needs of your business. Needs that cannot be met by spreadsheets alone.

Ask yourself: does your finance department…

  • use a combination of spreadsheets or homegrown products to manage the budgeting process, consolidate results or provide rudimentary analytics?
  • spend a great deal of time developing, copying and formulating data into spreadsheets?
  • scramble to provide information – often having to switch between a number of different applications – with the reports lacking consistency and accuracy?
  • struggle to respond quickly to new regulatory or statutory requirements? 

If you have answered ‘yes’ to any of these questions, it is very likely that your finance department would find immediate business value with a CPM implementation. But the business value of a performance management deployment can be felt far beyond the office of finance.

With a CPM solution like Prophix, you can develop a system that will differentiate you from your competition: 

  • Link your corporate financial and operational planning processes
  • Enable any number of users to consume and contribute information – without adding complexity
  • Identify areas where increased collaboration can improve business analytics and manage performance more effectively
  • Plan at the required level of detail you need – no matter how granular or how frequent

Without question, we are moving towards a more data-driven culture. Expanded participation and more sophisticated analysis of data results in valuable business insight and increased organizational ability.