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MISSISSAUGA, ONTARIO -- (Marketwire) -- 03/27/12 -- Prophix Software, a leading developer of solutions designed to automate financial processes, today announced it has been positioned by Gartner Inc. in the Magic Quadrant for Corporate Performance Management Suites report.(1)

According to Gartner, "Corporate performance management supports cost optimization and growth initiatives. CPM is a suitable fit for nearly all organizations, and should be a priority initiative for CFOs to enable the finance functions necessary to deliver short- and long-term strategic benefits to the business."

Prophix enables companies to align their strategic business objectives with tactical plans to allow for daily monitoring, as well as financial, and variance reporting. A unified solution, Prophix fully integrates budgeting, forecasting, planning, reporting, financial consolidations, scenario management, dashboards and in-depth analysis capabilities, providing a forward-looking view of company performance to stakeholders.

"We believe our position is a reflection of our commitment to innovation, our customer-centric approach, and the increasing need by companies for CPM solutions that support both cost optimization and strategic growth," said Paul Barber, Prophix's CEO and President. "As a result of our ability to deliver high-end CPM functionality, low total cost of ownership, and fast implementation times, we have a rapidly growing set of both domestic and international satisfied customers." Barber further outlined how Prophix continues to build out its customer support infrastructure in order to maintain their customers' quality experience.

With more than 1,850 customers worldwide, Prophix's current generation CPM solution, PROPHIX 10, is built on a Microsoft platform to leverage Microsoft Analysis Services, Reporting Services, and Office and SharePoint Services. PROPHIX 10 automates budgeting, planning and consolidation at half the cost of traditional CPM solutions and serves organizations of all sizes and industries.

(1)Gartner "Magic Quadrant for Corporate Performance Management (CPM) Suites" by Neil Chandler, John E. Van Decker and Christopher Iervolino, March 19, 2012

About Prophix Software Inc.

Prophix is a leading developer of innovative performance management solutions designed to automate financial and operational processes. Thousands of finance leaders in nearly one hundred countries use Prophix to empower their organizations and gain valuable insight into business performance. Prophix and its partners deliver superior value by combining high-end functionality with low cost-of-ownership and fast implementations. For more information, visit www.prophix.com.

About the Magic Quadrant

Gartner does not endorse any vendor, product or service depicted in its research publications, and does not advise technology users to select only those vendors with the highest ratings. Gartner research publications consist of the opinions of Gartner's research organization and should not be construed as statements of fact. Gartner disclaims all warranties, expressed or implied, with respect to this research, including any warranties of merchantability or fitness for a particular purpose.