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Financial Planning and Analysis
Prophix versus Datarails: a side-by-side comparison
Compare Prophix vs Datarails to discover why Prophix One delivers superior data integration, security and consolidation for your finance team.
May 13, 2025- Share:
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The financial landscape continues to grow and evolve – and organizations are looking for solutions that can help them keep up with the pace. It’s not just about streamlining processes and improving efficiency – it's getting real-time insights at the right time to help make decisions that impact the bottom line.
This comparison between Prophix versus Datarails dives into the key factors that each platform offers – from data integration to security and advanced features that will help finance leaders drive value for their teams and their organizations.
Data integration and workflow automation
Budget owners need to be able to aggregate data from multiple sources into one place. Juggling multiple sources is not only time-consuming but leaves room for errors too. Many finance leaders find themselves comparing the difference between Excel and automated solutions and the benefits of improved data integration and financial workflow automation. Let’s compare Prophix versus Datarails.
Prophix
Prophix offers pre-built connectors and APIs so finance teams can easily bring in their data from ERP, CRM, BI, and HRIS systems.
Prophix’s financial data integration is shared across applications within the Prophix One platform, so decision-making is always based off the same up-to-date data.
Data integration is simplified – no reliance on IT or third-party solutions either. Popular integrations include SAP, Salesforce, Dynamics 365, and Quickbooks.
Datarails
Datarails is built around Excel and adds structure via a workflow layer. Users benefit from the familiarity of Excel, but it does require linking spreadsheets to a central data model.
Datarails offers 200+ connectors and a centralized database but still relies on well-built templates and Excel power users. It’s best suited for teams who want to remain with the familiarity of Excel but improve their control and automation.
Security and compliance
Data security and compliance standards are a priority for finance teams, to meet both internal and external requirements. Non-compliance and data breaches pose significant risks to reputations and stakeholder trust, so it’s no wonder finance teams put this as a top priority when evaluating financial performance management solutions.
Prophix
Security is a top priority for Prophix. Certifications include ISO/IEC 27001, SOC 2, TRUSTe, and HITRUST.
Prophix also offers 256-bit encryption, so sensitive data is protected against unauthorized access.
These measures combined with features like role-based access control and MFA ensure that your data is protected around the clock.
Datarails
Datarails provides some security assurances, but it’s worth noting that the reliance on Excel-based solutions poses version-control risks and potential unauthorized access points.
Financial consolidation and advanced features
Financial consolidation is a critical process for teams that need to unify data and provide timely statements. And financial consolidation can be particularly stressful when there are multiple departments, spreadsheet versions, and late data submissions involved.
Prophix
Prophix offers a purpose-built financial consolidation solution that manages complex consolidations across multiple legal entities, including intercompany transaction matching and eliminations.
Prophix supports compliance with US GAAP, IFRS, and local statutory requirements, making it an ideal choice for multinational organizations with diverse regulatory requirements. Prophix also enables sub-consolidations, which allows for transparency and alignment across all levels of a corporate structure.
Datarails
Datarails provides partially automated consolidation but still remains dependent on Excel-based workflows.
This approach is good for smaller teams but may become cumbersome as consolidation needs grow. Datarails lacks some of the advanced functionalities offered by Prophix, particularly in terms of scalability.
Choosing between Prophix and Datarails: Which solution is right for you?
Prophix and Datarails offer similar functionality, but it’s clear that Prophix emerges as the leading choice for finance teams.
Prophix stands out for its scalability. Prophix offers an entire suite of financial performance management solutions – from financial planning and analysis to consolidation, close, and account reconciliation – in a single, unified platform. Robust automation, shared data integration, AI-powered insights, and strong security are available in one platform through a single point of entry, making it an accessible, scalable solution for growing finance teams.
But don’t just take our word for it. Here are real success stories from Prophix customers:
- Rent-A-Port implemented Prophix One Financial Consolidation for multi-dimensional analysis, improving the speed and agility of their internal processes and saving costs.
- Jamul Casino improved their month-end close processes by 30%, going from a 10-day close to a 7-day close, resulting in more than $15K in labor efficiency savings.
- Boulay Group can project their cash flow to better anticipate project timelines and completion, improving their contribution margin accuracy by 7.8%.
Ready to see what you can accomplish with Prophix One, a Financial Performance Platform?
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