Understanding value-added services in the finance landscape

According to G2's 2023 Software Buyer Behavior Report, value, scalability, and ease are top concerns for software buyers, with a strong emphasis on value over cost.

This highlights the importance of value-added services, as buyers are scrutinizing every dollar spent to ensure they receive maximum return on their investment in FP&A software.

Today, we’ll dive into value-added services, what types of services you can expect from FP&A software vendors, and why Prophix’s value-added services stand out.

What are value-added services?

FP&A software vendors frequently include value-added services in contracts to enhance both your initial and ongoing investment in their product. Value-added services can include access to customer support, events, learning resources, implementation guidance, customization options, consulting hours, and peer groups.

What type of value-added services are offered by FP&A software vendors?

FP&A software vendors often provide a range of value-added services during implementation and throughout your ongoing partnership. These services are designed to enhance your software investment and can include:

• Extended customer support: This service adds value by offering direct access to expert support, additional consulting hours, and specialized training. It helps ensure that you have the necessary resources to resolve issues effectively, reducing downtime and stress.
• Self-serve implementation: Vendors may offer a self-guided setup process, providing step-by-step instructions to facilitate software deployment. This can improve user adoption rates, enabling you to realize the benefits of your investment more quickly.
• Continuous learning: Gain access to extensive course libraries that teach you how to maximize the software's potential. This ongoing education ensures you continue to derive value and adapt to new features as they become available.

While these value-added services might increase the initial cost of FP&A software, it's important to weigh this against potential long-term savings. Enhanced support and effective implementation can lead to quicker returns on investment and improved operational efficiency.

An in-depth look at Prophix’s value-added services

Like other software vendors, Prophix offers a wide variety of value-added services, including:

Continuous Success Package (CSP & CSP Plus) – Offers access to a dedicated Customer Success team, extended learning opportunities, new administrator onboarding, and a sandbox environment, all designed to enhance product adoption and optimize your Prophix One investment.

Prophix Academy membership – Provides access to a full course library, featuring self-directed online training, live sessions with hands-on practice, and knowledge assessments. With the flexibility to train new staff anytime, refresh knowledge post-implementation, and stay updated on the latest Prophix One capabilities, members can earn CPE credits while mastering the solutions they need most.

Pathways – Combines self-paced online learning with structured coaching to empower users with Prophix One expertise. By reducing the learning curve and consulting costs, Pathways helps develop in-house subject matter experts equipped to independently build and evolve business models.

Prophix Live! – Our must-attend event for finance and accounting leaders, professionals, and subject matter experts looking for an exclusive opportunity to explore the top priorities and trends impacting the Office of the CFO.

Success Factors Program – Track and celebrate your achievements with Prophix One through detailed qualitative and quantitative metrics. Work with us to create your Success Factors Impact Report, which clearly demonstrates the return on investment you’ve received, making it easier to communicate your successes internally. You’ll also receive recommendations on solutions to explore as you create your growth roadmap.

Industry Peer Groups – Connect and share strategies with peers in your industry on how to use Prophix One to solve your unique challenges. Prophix subject matter experts also participate as regular contributors, sharing industry-specific insights on how best to use the latest features in Prophix One to drive a greater return on your investment.

Red Carpet – Our online advocacy program allows you to connect with next-gen finance leaders, access exclusive experiences, shape the future of Prophix, and earn points for gift cards, premium merch, and more.

How Prophix customers are using value-added services to their advantage

Here’s what some of our customers had to say about the benefits they’ve realized from Prophix’s value-added services:

“It has been a very easy journey with all the support that we’ve received. Prophix Academy and Red Carpet are excellent sources of information, and I would recommend that anyone who is looking for new software take on board the amount of support that you will receive from the supplier, as it is invaluable.” – TrustRadius reviewer

“Our experience has been very good from the sales process, through implementation and all the way through to today. The implementation process was very well organized. We are a part of their Customer Success Program so if we have questions that we cannot answer in Prophix on data integration, report set up or anything else, we can set up a 25- or 45-minute call with one of the Customer Success personnel to answer our questions.” – Tom Samuelson, Financial Analyst, Milo’s Tea Company

“One of the reasons we chose Prophix is its commitment to teaching its clients how to use the product and maintain it themselves through multiple education mediums. They offer Prophix Academy with online courses, an extensive online help manual, product webinars that include demos and Q&A sessions, an annual summit, quarterly product updates, and a Customer Success package. Prophix actively solicits feedback for product improvement through their Feedback Forum and Prophix Red Carpet.” – TrustRadius reviewer

“Prophix has a great user community, and they provide a mechanism to provide customer feedback—many of their new product ideas come right from the users. Their customer support team is very responsive and are willing to do quite a bit of help without charging. This is very well received, as we have seen other software (like our ERP) charge for exploring issues in our system.” – Steve A., Director of Finance

Conclusion: Achieve more with Prophix’s value-added services

Take advantage of value-added services to get the most out of your investment in FP&A software. These services can help with implementation, provide ongoing support and learning opportunities, and connect you with other finance leaders, allowing you to continue benefiting from your FP&A software.

Prophix stands out among FP&A software vendors for its extensive list of value-added services, like the Continuous Success Package and Prophix Academy—giving you the support and knowledge you need to reach your goals.

Choosing Prophix means partnering with a vendor who’s dedicated to your success, offering great resources and a supportive community.