Prophix Software Ranked as a “Leader” in New Nucleus Research CPM Technology Value Matrix for Second Consecutive YearFebruary 23, 2021
Nucleus Highlights Prophix’s Strengths in Usability, Intelligence, and Integration
MISSISSAUGA, ONTARIO – Prophix Software, a global leader in Corporate Performance Management (CPM) software, today announced it has been ranked as a “Leader” for the second consecutive year in Nucleus Research’s “CPM Technology Value Matrix.” In its 2021 report, Nucleus Research evaluated CPM vendors based on their usability and functionality, as well as the value customers realized from each vendors’ product capabilities. The research serves as a snapshot of the CPM technology market, helping to inform customers about how vendors are delivering value, and taking stock of what can be expected in the future based on present investments.
“As the Nucleus report highlights, ‘Demand for CPM solutions has reached a fever-pitch. Planning with antiquated spreadsheet and email processes is no longer possible in modern business environments,’” said Alok Ajmera, President and CEO of Prophix. “Prophix’s continued hyper growth not only in North America but globally reflects that reality, as more midsize organizations turn to our advanced cloud-based CPM software to deliver the business agility they need. The Prophix team wakes up every day thinking about how we can continue driving financial planning and analysis innovation for our 90,000 global users and we’re proud of this recognition from Nucleus that we’re doing it right.”
According to the Nucleus report, Prophix’s “investments in task automation and usability supports its value proposition, which translates to strong brand loyalty and long-lasting deployments.” The report underscores enhancements Prophix has made over the past year to extend usability, intelligence, and integration. Nucleus specifically calls out:
- Updated dashboards that feature a new look and feel and a “notification” feature to provide users with relevant updates from the product and other Prophix u The Dashboards include a new “slicer” feature to allow users the flexibility to modify the data content of dashboard components, allowing them to perform analysis directly on the dashboard.
- New AI components that perform analysis on data and provide text-based narrative analysis to complement charts and template reports.
- An expanded library of applications via Prophix Data Integration Services with pre-built connectors to import/export data.
- Expanded Microsoft Excel integration including “Contributor” (Excel-based data collection) and “Analyzer” (Excel-based data modeling and reporting), allowing more end users to contribute to plans and forecasts in a familiar software application.
The report also recognizes customer value from Prophix partnerships, including:
- Prophix’s partnership with Sage Construction and Real Estate, which provides construction companies access to financial data for automated forecasting, planning, and budgeting. The construction vertical continues to be among Prophix’s fastest-growing industry sectors.
- Prophix also partnered with PwC Canada to improve tax processes by providing users with automated reporting for multiple allocation scenarios across the businesses, geographies, currencies, and tax codes.
To download the full Nucleus Research “CPM Technology Value Matrix” report, click here.
About Prophix Software
Your business is evolving. And the way you plan and report on your business should evolve too. Prophix helps mid-market companies achieve their goals more successfully with innovative, cloud-based Corporate Performance Management (CPM) software. With Prophix, finance leaders improve profitability and minimize risk by automating budgeting, forecasting, and reporting and puts the focus back on what matters most – uncovering business opportunities. Prophix supports your future with AI innovation that flexes to meet your strategic realities, today and tomorrow. Over 1,500 global companies rely on Prophix to transform the way they work. For more information, visit libraryprophix.wpengine.com.
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