planful press release

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

August 24, 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

 

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