Compare Enterprise Budgeting и Prophecy

Benefits:

Can budget items or categories based on description - not account codes, aimed specifically at the end-user rather than accountants. Set-up allows ... Read more

Can budget items or categories based on description - not account codes, aimed specifically at the end-user rather than accountants. Set-up allows for mapping back to account code and reporting by roll-up to parent hierarchy, division, activities, etc. Uses same capabilities as all financials (AP, AR, GL, Billing, AM, etc.) where attributes of account components (up to 32 places) are definable and mapped between primary and sub ledgers including (then) addition of 20 user fields and 20 selection types (since expanded) per code segment. Fully work-flowed enabled for budget approvals. Budget working at a user level have a familiar spread-sheet 'look and feel' Can be fully maintained by in-house user resources once configured. Can be integrated to other (non-TechnologyOne) on-premise FMIS/ERP relatively easily. Full forecasting and budget 'versioning' capable. Powerful reporting options where coupled with native BI tools and financials (Act vs. Bud/Frcst). Is available via cloud provisioning or in-house. Fully integrated with TechnologyOne BI reporting, projects, all financials, CRM, etc. as a TechnologyOne ERP module.

Drawbacks:

1. Requires use of TechnologyOne consultant to initially fully exploit the possibilities of the module due to some complexity in the configuration ... Read more

1. Requires use of TechnologyOne consultant to initially fully exploit the possibilities of the module due to some complexity in the configuration and set-up (dependent on use, organisational structure, modules in play, etc.). 2. Continually being updated to meet evolving related ERP modules so nuances change over time which may require some reconfiguration. 3. Can be expensive if purchased separately from initial general ERP capability 4. Integration to other (non-TechnologyOne) cloud-based FMIS/ERP can (not unusually) be complex 5. Customer support can require product specialists rather than general consultants from TechnologyOne where requests or requirements are not common.

Summary:

Ability to forecast into five and ten year plans the expected revenue, expenditure and investment of the organisation based as a whole, by subsidia... Read more

Ability to forecast into five and ten year plans the expected revenue, expenditure and investment of the organisation based as a whole, by subsidiaries, by division, by business unit, activities, and by accounting segments. The ability to push the responsibility for completing the budgets to managers was beneficial as it ensured accountability, coupled with the ability to lock down specific codes and activities due to their nature (e.g. distributed cost overheads). The ability to check in and out budget cycles and centrally manage these enhanced the ability to support and drive the budget and forecasting reporting cycles It tightly integrated to the other ERP modules for all financial, project and other components enhancing the return on and use of native ERP BI tools It coupled well with existing TechnologyOne ERP investments as it used the same database, platforms, logic processing, user accesses and authorities, user and organisation hierarchies, account code structures.

Benefits:

Drawbacks:

Summary:

Too many clicks & not very user-friendly at all. I would not recommend this system to anyone. There are some useful parts but overall this system s... Read more

Too many clicks & not very user-friendly at all. I would not recommend this system to anyone. There are some useful parts but overall this system seems to have been created by an IT person, not a Finance person ie- the user.

Benefits:

What the sales team like the most is the fact that you can see the effect of any changes you make instantly. Prophecy is so quick that it allows yo... Read more

What the sales team like the most is the fact that you can see the effect of any changes you make instantly. Prophecy is so quick that it allows you to enter a scenario and see what this means to your business instantly. As an analyst, I love the fact that it is so compatible with Excel.

Drawbacks:

I can't think of anything that I or the sales team don't like about this product.

Summary:

We have recently made a big change to Prophecy that allows us to view products broken down into their component parts. The support team at Prophecy... Read more

We have recently made a big change to Prophecy that allows us to view products broken down into their component parts. The support team at Prophecy knew exactly what we wanted to do and helped us achieve it - They didn't rest until it was working! This change has saved us hours and hours of work.

Benefits:

Easy to use, integrates well with excel, flexible product which can be set up to suit your needs.

Drawbacks:

Initial set up is daunting if your are not IT literate - however the support for this is fantastic

Summary:

Prophecy is a user friendly tool for forecasting. We have been using it for many years now and the representative is constantly working to improve... Read more

Prophecy is a user friendly tool for forecasting. We have been using it for many years now and the representative is constantly working to improve the system, he is always happy to try and incorporate any ideas/requirements you have where possible. A great tool for forecasting 400+skus with multiple customers.

Benefits:

Before Prophecy our business was using an Excel spreadsheets as its forecasting tool, Prophecy allowed us to collate all the forecast into one plac... Read more

Before Prophecy our business was using an Excel spreadsheets as its forecasting tool, Prophecy allowed us to collate all the forecast into one place, this not only aided us in running our S&OP cycle but information was clearer & we had a greater control over the forecast than ever before.

Drawbacks:

At the time when we first implemented Prophecy there was no system generated forecast this has since been updated in later versions.

Summary:

The work flow tool has been integrated with our Business cycle, everyone in the business knows when forecasts are due & when Prophecy will be locke... Read more

The work flow tool has been integrated with our Business cycle, everyone in the business knows when forecasts are due & when Prophecy will be locked. This has allowed us to taker control of the forecast to ensure we have the right information at the right time.

Benefits:

Easy to use / straight forward screen layouts on day to day work. Can be easily connected to other invoicing systems.

Drawbacks:

Can be slightly complicated to initially setup - however, the support from Customer services will assist all the way

Summary:

Have used Prophecy for a number of years now - which we have connected to our invoicing/ stock system accordingly - with the assistance of Peter. T... Read more

Have used Prophecy for a number of years now - which we have connected to our invoicing/ stock system accordingly - with the assistance of Peter. This system is certainly a positive tool for our company, when forecasting nearly 100+ SKUs of finished products - all of which have different lead times. Would certainly recommend a serious look and demonstration of this forecasting system. Customer service is without doubt, second to none !