Company Experiences Significant New Customer Growth, Earns Industry Awards and Analyst Recognition as Growth Trajectory Continues
REDWOOD CITY, Calif., Oct. 28, 2022 /PRNewswire/ — Planful Inc., the pioneer of financial performance management cloud software, today announced that the company’s accelerated growth trend continued in the third quarter of 2022, marking another period of records across the board, including a 70% year-over-year increase in customer expansion bookings and a record number of new customers, adding Zappos, Igloo, Cloud Staff, Otto Car Limited, Flynn Group of Companies, and more.
Also in Q3, Planful acquired Plannuh, a leading Marketing Performance Management (MPM) SaaS vendor, to give trailblazing CFOs and CMOs tools to drive more opportunities for business growth. Planful now provides marketers with deep financial intelligence for all marketing activities and the ability to better support finance’s needs for accurate spend, accruals, and results data. Marketers are able to course-correct campaign and activity investments in real-time to maximize ROI, while increasing visibility and collaboration with their finance colleagues.
This quarter, Planful experienced record subscription bookings, upsell bookings, customers added, and customer retention rates, in addition to recognition from awards organizations and analyst firms. Highlights from Q3 include:
- Set three quarterly customer growth records year-over-year: customer expansion bookings are up 70%, total customers grew 30%, and subscription bookings increased 30%
- Expanded Planful’s global partnership ecosystem, adding CFO Alliance, PRYZM, Bridging Business Technology Solutions, and more
- Promoted Pier Barattolo to Chief Sales Officer to support rapid sales expansion globally and drive increased growth in Planful’s partner channel
- Accelerated product innovation aimed at upgrading platform performance with the filing of two patents: High Scale Processing of Ingested General Ledger data with “Delta Detection” and “Fast Aggregation and Ingestion of Multidimensional Data.” These patents will enable Planful to better serve customers with large, complex data sets without compromising speed as they scale
- Released a free Marketing Funnel Builder to help marketers understand the true business outcomes of their marketing plans in collaboration with finance
- Earned an Industry Excellence Award from Dresner Advisory Services and was recognized as an Experience Leader and a Trust Leader in Enterprise Performance Management
- Planful and Plannuh were both ranked in the G2 Fall Reports for Budget and Forecasting, Corporate Performance Management, Enterprise Budgeting and Forecasting (Mid-Market), Marketing Resource Management, and more
Record customer growth is fueled by companies around the globe turning to Planful to modernize business-wide planning and extend financial performance into more areas of the business.
Ten Lifestyle Group, who partnered with Planful to eliminate the burden of slow, manual financial processes, is a global travel and lifestyle concierge company with 1,000 employees that runs more than 50 corporate client- and employee-loyalty programs and private services for millions of members worldwide. James Muscat, Commercial Finance & FP&A Director, Ten Lifestyle Group, said: “Life before Planful was just Excel city. If you don’t have the right finance technology in place, you end up building spreadsheet models that all link to each other, everything goes wrong, and it gets frustrating. Now, we can ensure departments in the business, including Product, Technology, and Operations can plan their budget and quarterly forecasts with greater ease and accuracy and see their monthly results in more meaningful formats, quicker.”
Grant Halloran, Planful Chief Executive Officer, said: “CFOs, and business leaders across the whole C-suite, acutely recognize that planning and agile, data-driven course-correcting are essential to survive and thrive in this economy. Modernizing systems, to drive better financial performance, is seen today as a must-do priority and this is fueling increasing demand for our solutions. I’m proud of the Planful team and partners for continuing to execute at such a high level to meet this demand, and make customers successful, quickly.”
Requests for a demo can be made here: www.planful.com.
Planful is the pioneer of financial performance management cloud software. The Planful platform is used around the globe to streamline business-wide planning, budgeting, consolidations, reporting, and analytics. Planful empowers finance, accounting, and business users to plan confidently, close faster, and report accurately. More than 1,300 customers, including 23andMe, Bose, Boston Red Sox, Five Guys, and Zappos, rely on Planful to accelerate cycle times, increase productivity, and improve accuracy. Planful is a private company backed by Vector Capital, a leading global private equity firm. Learn more at www.planful.com.