Is the cloud right for your business?
Cloud is no longer the exception – it’s the mainstream choice for most businesses today.
As a Prophix customer, moving to the cloud is a competitive advantage that provides you access to the latest and greatest product innovations, such as our growing list of artificial intelligence capabilities and future add-ons. These new capabilities enable the finance team to improve key financial processes like budgeting and reporting, speed up month-end close, and gain deeper insights to your data. The cloud provides the platform to do this more efficiently and affordably than ever before, regardless of how big or complex your company gets.
Prophix Cloud will help your business remain resilient and competitive in future market trends with these exciting features:
Latest and Greatest: Get the most value out of Prophix by having the latest features and innovations available to you instantly through automatic updates
Improved Performance: As your computing and storage requirements increase, cloud resources can quickly and easily scale to meet your changing needs for optimal performance
Easy Access: Access Prophix from anywhere, anytime, on any device without additional software required like VPN or RDP
Higher ROI: Achieve a better ROI with Prophix when compared with loaded on-premise IT infrastructure and maintenance costs
Reliability: Rest assured that your models stay up and running while we keep your business data safe with our data backup and disaster recovery
Security: Keep your data secure in our globally recognized cloud-compliant encrypted environment
Read: Five easy steps to migrateWhy consider migrating to the cloud?
Many organizations are turning to cloud-based platforms for their digital transformation strategy to stay innovative, competitive, and relevant in today’s market. Cloud security standards allow companies to have the assurance of the integrity of their software. Additionally, the requirement for remote work has greatly accelerated the shift in migrating to easily accessible Cloud-based systems.
For many companies, there is a belief that cloud solutions are easier and more accessible. While this is true, other elements of cloud technology can benefit you and your organization.
Here are some key drivers for other customers who migrated to the Prophix Cloud:
- Optimized performance
- Future-proof your Prophix solution
- Stay current on Prophix platform quarterly releases
- Reduce dependency on internal IT
- Reduce dependency on 3rd party IT and 3rd party hosting providers
- Ability to securely access Prophix without a VPN
- Expansion of Prophix use
- Prior adoption of an ERP needing API connectivity such as Dynamics 365 or Sage Intacct
- Provide access to users in all geographies
- Corporate cloud-first strategy requiring all business systems to be cloud hosted
- New cloud-exclusive Prophix functionalities such as Prophix for Microsoft 365 (Prophix Contributor, Prophix Analyzer, Prophix for PowerPoint 365) and artificial intelligence features like Insights, Anomaly Detection, and Task Assistant
Lower cost of ownership
Prophix Cloud also allows for a lower total cost of ownership. The total cost of ownership is a financial estimate of all the costs, both upfront and hidden, that are associated with your financial performance platform. These generally include:
- Software licensing fee
- Implementation costs (which include training and customization)
- Operating costs for 3 to 5 years
For on-premises solutions, you will also need to factor in ongoing costs, such as infrastructure expenses, ongoing IT support, and yearly maintenance fees. For the total cost of ownership of Prophix Cloud, consider monthly or annual platform fees and costs associated with additional users and storage. Your company should assess your total cost of ownership for each option and compare the two before your decision to migrate.
Prophix Cloud is powered by AWS which offers:
- 31% average infrastructure cost savings vs on-premises
- 62% more efficient IT infrastructure management vs on-premises
Innovation is in the cloud
Cloud technology is pushing the limits of innovation, making our financial performance platform smarter and easier to use. Transform the way you work and keep your attention on the things that matter.
Prophix AI research and development
There is also a multitude of cloud-exclusive offerings such as Prophix Contributor which extends the planning power of Prophix with Microsoft® Excel®, and the Virtual Financial Analyst powered by artificial intelligence and machine learning. The Virtual Financial Analyst helps financial controllers with features such as Anomaly Detection, AI Insights, and Task Assistant.
Frequently asked questions
The migration process has an average duration of 4-6 weeks* from the kickoff meeting to when you have fully migrated to Prophix Cloud and are no longer using your on-premise Prophix.
*All Prophix Cloud migration timelines are based on estimates. Factors that can affect how long the cloud migration takes are complexity of data integration, the complexity of the Prophix model, and the speed of access to on-premise environments.
As mentioned above, cloud software allows for a lower total cost of ownership. For detailed information regarding specific pricing for your migration, please contact our customer team for more information.
Yes, customers can still access their on-premise Prophix during the migration. However, we recommend migrating to Prophix Cloud outside of quarter/year-end closes as to not disrupt any major business processes.
Yes, Prophix Cloud has a robust data integration platform and can still maintain the connection to your various ERP, CRM, HR and payroll software.
Security is in the cloud
Prophix Cloud offers strong encryption for all customer data with a dedicated environment that protects your data from unauthorized access and limits connection to only approved users.
You may worry that using a solution that you access via the internet could expose your data to greater risk. However, Prophix Cloud security standards provide protection that is not just adequate but is above industry standards.
Prophix Cloud Security Certifications
Here is a comprehensive list of our Cloud Security Certifications.
