Prophix Software Reports Another Record Setting Year of Growth in 2021

Mar 31, 2022

MISSISSAUGA, ONTARIO – Prophix Software, a global leader in Corporate Performance Management (CPM) software, today released its business summary for Q4 2021 and its overall fiscal year which ended on December 31, 2021. The company saw its Q4 cloud billings grow by more than 47 percent from the same quarter last year and its cloud customer base increase by 63 percent over 2020.

The fourth quarter was highlighted by Prophix’s acquisition of Belgium-based Sigma Conso, which adds important financial close management capabilities to the Prophix solution and expands its international presence further in North America, Europe, Asia and Latin America.

“The Sigma Conso acquisition and integration of its technology and resources fueled another outstanding business year for our company as more organizations turn to Prophix to enable the kind of nimble and modern financial planning and analysis capabilities needed to grow and drive competitive advantage,” said Alok Ajmera, President & CEO of Prophix.

Other Q4 Achievements

  • In construction, one of Prophix’s top vertical markets, the company was named as one of Construction Executive Magazine’s Top Construction Technology Firms for its contributions to innovating the construction industry through advanced technology
  • Prophix’s focus on the customer helped it continue to enjoy an industry-leading Net Promoter Score (NPS) of 60
  • Prophix ended 2021 with 450 employees, a 65 percent increase over 2020. High employee satisfaction continues to be a Prophix hallmark, with the company reporting a 92 percent satisfaction rating.
  • Prophix also continued to emphasize its commitment to CSR through its “Quarterly Purpose Projects,” through which employees select a worthy non-profit to receive a $50,000 donation. Prophix’s CSR program is dedicated to creating a lasting impact on the global community through financial support, and Prophix has contributed to a range of worthy charitable organizations since the program’s inception more than 30 years ago.

Prophix was recognized as a leading CPM solution during 2021 by several third-party industry organizations. For example, Prophix was recognized by TrustRadius for being Transparent, Responsive, Unbiased, and Ethical (“TRUE”) in sourcing and using customer  reviews across its product portfolio. The company was also named both a 2021 Stratus Award Winner and an Overall Credibility and Experience Leader for the seventh consecutive year in the Dresner Wisdom of Crowds Study. Dresner also recognized Prophix as “Best in Class” across a wide range of EPM measures.

Prophix was also named Gartner Peer Insights Customers’ Choice for Cloud Financial Planning & Analysis Solutions, an award that recognizes vendors that have been verified by end-user professionals, considering both the number of reviews and the overall user ratings. These recognitions are in addition to more than 17 other awards received from third party review sites, including accolades from G2 and Capterra.

Prophix executives were also recognized as thought leaders in their fields in 2021: Ajmera was named one of The Software Report’s Top 50 SaaS CEOs of 2021 and Susan Gershman, Prophix’s chief customer innovation officer, was named one of the Top 50 Women Leaders in SaaS by The Software Report.

“These industry honors are further validation of Prophix’s commitment to product innovation and market leadership. The advances we’ve made in recent years, including launching the industry’s first AI-powered Virtual Financial Analyst, have ushered in a new era of financial planning and analysis that delivers better insights, reduces risk, and drives efficiency, all of which are necessary components of digital transformation in FP&A,” said Ajmera.