Planful Inc. Achieves Strong Growth and Profitability in First Half of 2023

Planful Inc. Achieves Strong Growth and Profitability in First Half of 2023

Original Press Release Aug 23, 2023

Financial Performance Management Cloud Software Leader Continues to Excel, Reports Record Expansion and Innovation

SAN FRANCISCO, Calif., August 23, 2023Planful Inc., the pioneering force behind financial performance management cloud software, proudly announces exceptional growth in revenue and profitability for the first half of 2023. This outstanding achievement is attributed to the continued expansion of the customer base and increased adoption of Planful’s versatile solutions.

Throughout the first half of the year, Planful experienced remarkable growth across numerous critical metrics, exemplified by a 26% year-over-year surge in customer expansion bookings. The company’s international presence also flourished with an astonishing 71% year-over-year increase in international customer expansion bookings, fueled by the escalating global demand for Planful’s Financial Performance Management platform.

One of the remarkable highlights of this growth was the adoption and expansion of Planful’s solutions across diverse business functions. Notably, the company’s marketing budgeting and planning solution, which became possible due to the strategic acquisition of Plannuh in 2022, experienced substantial growth. Among Planful’s new clientele in the first half of 2023 are industry leaders such as World Business Council for Sustainable Development, Collingwood Lighting, Steiner Electric Company, and Envision Radiology LLC.

In May, Planful successfully hosted Perform23, its renowned annual user conference, attracting over 1,500 attendees, both in-person and virtually. The event celebrated the induction of new members into the esteemed Champions Club, while also recognizing the outstanding accomplishments of several customers with awards. During Perform23, Planful unveiled an array of product innovations, expanding the capabilities of Predict, the company’s proprietary embedded AI and ML solution.

Luis Martinez Luna, Senior Manager FP&A at Rocket Software, praised the transformative impact of Planful Predict, stating, “Because the technology is embedded in the platform, there aren’t any additional technical skills required to use it. I’m excited for budget managers across the company to take advantage of these AI capabilities and make financial decisions with greater speed and accuracy.”

Further bolstering its success, Planful’s partner network has expanded to include Novus Proximus, Blue Noda, Kloo, Postal, Elevate IQ and in the APAC regions of Australia and New Zealand, Forpoint Solutions.

“We are thrilled to be part of the Planful partner network, delivering budgeting and forecast solutions across Australia and New Zealand. We are also excited to now be deploying Planful software for our own internal use at Forpoint. We’re really excited to jump in and use the software first-hand”  Micheal McGindle- Solution Director, Forpoint Solutions, Australia.

The company acknowledged the invaluable contributions of its partners through its annual Partner Award program, recognizing excellence in sales, implementation quality, and exceptional value delivery to mutual customers. The 2022 Partner Award winners included Workiva, Bakerfield Solutions, CFO Solutions, KeenVision, and Wipfli, LLP.

During the first half of 2023, Planful received numerous accolades from top industry analysts, solidifying its position as a market leader:

  • Named to the Constellation Research ShortList™ for Cloud-Based Planning and Performance Management Platforms for the 11th consecutive year.
  • Earned a Dresner Advisory Services 2022 Technology Innovation Award in the “Financial Consolidation, Close Management, and Reporting” category.
  • Received the Business Intelligence Group’s 2023 Excellence in Customer Service Awards.
  • Garnered high rankings in G2’s Best Accounting and Finance Products for 2023 report and the G2 2023 Spring Report across multiple categories.
  • Achieved Great Place to Work certification in the US, UK, Canada, and India for the second consecutive year.
  • Included in Fortune’s Best Workplaces in the Bay Area 2023 list.
  • Recognized as a leader in the BPM Vendor Landscape Matrix for Performance Management Solutions.
  • Awarded a Bronze Stevie® Award for Customer Service Department of the Year, with Planful CEO Grant Halloran earning a Gold Stevie® Award for Maverick of the Year.
  • Named a finalist in the 2023 Lattice People Success Awards and the CHRO of the Year Awards.

Grant Halloran, Chief Executive Officer of Planful, expressed his enthusiasm, stating, “Global demand remains high for our software, as companies seek greater automation of their financial performance processes, not only to make them more productive but also to make faster course corrections as they navigate dynamic business conditions.”

For more information about planful solutions in Australia and New Zealand please contact us.

About Planful Inc. Planful Inc. is the vanguard in financial performance management cloud software, enabling companies to automate and accelerate budgeting, planning, and reporting. With an unwavering commitment to innovation and customer success, Planful empowers both finance and business teams to generate insights, drive efficiencies, and adapt to change with agility.

Want to see how Planful’s award-winning planning and forecasting software works? Speak to our team and organise a demo today

 

What Every Human Resources and FP&A Department Can Do To Strengthen Their Working Relationship

What Every Human Resources and FP&A Department Can Do To Strengthen Their Working Relationship

Melissa Dreuth, Senior Vice President of People and Culture at Planful, talks to her counterparts in the Finance team every day… and looks forward to it.

“Human Resources – also referred to as People Operations – tends to either love or hate the Finance department. Personally, I absolutely love my Finance colleagues.”

And while the Planful HR team might have an unfair advantage by virtue of working at a financial planning software provider, Dreuth has several thoughts on how to improve HR-and-Finance relationships in every company.

Finance and Human Resources Have A Universal Interdependence: Payroll

“Collaboration between every company’s Finance and HR departments sprouts from a bedrock foundation: payroll,” explains Dreuth.

The fact of the matter, she says, is that neither department can function without the other. “I can’t make any org changes without Finance’s blessing, and Finance can’t do the number one thing that all employees care about the most – paying them – without making sure they have the correct information from HR.”

From this inherent touchpoint, Dreuth recommends, start building a cadence where both sides are often communicating, erring on the side of “over-communicating” and prioritizing this constant flow of information.

“It’ll be readily clear, early on, how interdependent both sides are with this critical responsibility. Use that as a springboard and you’ll see that relationship further evolve when it’s time for workforce planning.”

What Matters More: People Or Numbers?

“In environments where there are challenging dynamics between Finance and HR, I’ve noticed there’s a battle for control: is it the financial numbers or is it the people that matter more to the business? The healthy partnerships understand that it’s both — the right people in place will generate better numbers, and those better numbers will put those people in a better position for success.”

Workforce planning is the perfect example of when Finance and HR need to be speaking the same language — because the impact of those decisions has huge ripple effects on the entire business.

“Having the right people in the right place at the right time is critical to hitting revenue targets. Add salespeople to the wrong territory too early, for example, and you just wasted resources on areas that aren’t ready to generate enough revenue… which inevitably leads to the poor performance management data pointing toward performance management plans, when in fact they may have been the right person, at the wrong time.”

And that’s where Continuous Planning comes into play.

Continuous Planning Elevates The Conversation Between HR and Finance

“We use Continuous Planning to forecast our headcount, and then as hiring rates change, we update our models so Finance can seamlessly adjust their operating plan and course-correct,” Dreuth explains.

This numbers-driven dialogue helps Dreuth get on the same page much faster with her Finance colleagues. A Continuous Planning platform — which allows for real-time collaboration and dynamic collaboration — makes it much easier for Dreuth’s team to utilize financial insights in their own decision-making.

“When we have those financial insights at our fingertips, we’re able to start those conversations at a higher level. Finance doesn’t have to push back and explain the numbers because we’ve already factored that in, and we can think much more strategically and long-term about our organization and where it’s going.”

Dreuth continued: “Ultimately, all of our goals have less to do with making better sense of the numbers and more to do with making the numbers better so we can make financially smarter decisions. Continuous planning allows us to minimize the former and maximize the latter.”

With consistent communication habits in place, a mutual understanding of each other’s perspective, and a Continuous Planning platform elevating their conversations… it’s no wonder that Planful’s HR and Finance teams have nothing but love for each other.

 

Article originally posted by Planful.com 
Forpoint are Planful partners and represent Planful in the APAC region.

Accounts Payable in Property & Construction

Accounts Payable in Property & Construction

Simplifying Accounts Payable in Property & Construction: A Game-Changer in the Industry

In the fast-paced property & construction industry, staying organized and efficient with expense management can be a daunting task. Commercial construction through to property development companies often find themselves grappling with enormous amounts of receipts, invoices, and expenses, making it challenging to keep track of financial data accurately, especially when it comes to multi-entity and multi-currency assets. Forpoint have solutions encompassing all financial aspects and automation but today, we’ll talk about AP Automation, a machine learning, expense management software designed specifically for accounts payable. We’ll explore how our softwares are  revolutionising expense management and streamlining financial processes, making it an indispensable tool for property industry professionals.

What is Ap Automation?

Accounts Payable Automation comes as a cloud-based expense management software tailor-made to cater to the complex needs of property & construction finance management. Its cutting-edge features provide a seamless solution for recording, categorizing, and analyzing expenses, helping property & construction CFO’s stay on top of their financial game.

The Power of Automation

One of the most significant advantages of Forpoint’s software solutions are our automation capabilities. In the case of AP Automation, Traditional expense management methods often involve manual data entry, leading to errors and wasted time. With our software, tasks such as scanning receipts, extracting information, and categorizing expenses are automated using advanced machine learning algorithms. This not only minimizes the risk of human errors but also allows CFOs to focus on more strategic aspects of their work.

Integration with Existing Systems

Forpoint Solutions understands that property & Construction CFO’s may already be using various software for different aspects of their business, such as project management, CRM, or property management systems. To ensure a smooth experience, Forpoint seamlessly integrates with popular platforms, avoiding duplication of data and reducing the chances of discrepancies. The software acts as a centralized hub for expense management, making financial data easily accessible and facilitating informed decision-making.

Real-Time Insights and Analytics

In the property & construction industry, making informed financial decisions is crucial. Our solution’s analytics and reporting features provide real-time insights into expense patterns, cash flow, and budget utilization. With comprehensive data visualization, CFOs can easily identify trends, monitor spending, and optimize their financial strategies accordingly. This level of transparency and control helps businesses become more agile and adaptable, a vital advantage in the ever-changing property landscape.

Personable Customer Support

In an increasingly digital world, customer support can sometimes feel distant and impersonal. Forpoint has always led with exceptional customer service. The Forpoint team understands the specific needs of CFOs and goes the extra mile to provide support throughout the entire transformation process. We partner with you for the long term as a trusted advisor to your finance department.

Data Security and Compliance

The property & construction industry often deals with sensitive financial information, making data security a top priority. Forpoint takes data protection seriously, implementing robust security measures to safeguard user data from unauthorized access. Additionally, all our software complies with industry standards and regulations, ensuring that all financial data is handled with utmost confidentiality and in accordance with the law.

Forpoint has helped a number of commercial property developers & construction companies automate and streamline their financial teams processes. We’ve been implementing financial software for more than 20 years and our team is built on financial acumen – we know accountants because we are accountants ourselves.

If you are looking for a team to partner with you that can guide you with experience, talk to our team today and see what’s possible.