Company Results Driven by Exceptional North America Demand, Expansion in Key International Markets and Partner Channels, Product Innovation, Customer Retention, and Increased Recognition from Analysts and Awards Groups
REDWOOD CITY, Calif., Feb. 8, 2023 /PRNewswire/ -- Planful Inc., the pioneer of financial performance management cloud software, today announced strong recurring revenue growth in fiscal 2022, while increasing profitability for the second consecutive year.
The company sustained its growth trajectory in FY22 with several record-breaking milestones, resulting from a multi-year transformation strategy and consistent, global demand for its Financial Performance Management (FPM) technology from new customers, such as the American Diabetes Association; Chosen Foods; Otter Products, LLC; Sisense; Wise; Healthcare Australia; and Volta.
2022 highlights include:
- Profitable, high growth for two consecutive years, with operating margins up 75% year-over-year
- Subscription bookings growth up 25% year-over-year overall, with 30% year-over-year growth in North America
- Acquired Plannuh, a leading marketing performance management SaaS vendor, leading to 35% year-over year growth in the Planful for Marketing line of business with new customers, such as BloomReach, Persado Inc., and RevenueBase
- 50% year-over-year increase in overall customer expansion bookings, including expansion booking increases of 80% in channel customers and 113% in Planful for Marketing customers
- Global expansion continued with international customer growth up 50% year-over-year, adding new brands, such as Mayfield Group Holdings Limited, Sandbox & Co, and more. The company also opened new offices in Toronto and the U.K.
- Strengthened Planful's global partner ecosystem: signed a new strategic, global partnership with Cognizant, a leading expert in digital transformation; executed a new reseller agreement with Forpoint Solutions, extending Planful's presence in APAC; expanded its existing strategic partnership with Trintech to a global agreement; and introduced a new native integration with Workiva, enabling a seamless flow of financial data and extending reporting capabilities
- Extended product innovation: delivered consistent customer experience improvements via more than 125 new product features; announced the availability of Predict: Projections; introduced a suite of CONNECT integrations for its Planful for Marketing solution; filed 4 new patents; and more
- Earned analyst recognition, including being named an Experience Leader in Dresner Advisory Services' Wisdom of Clouds® study, the Constellation Research ShortList for Cloud-Based Planning Platforms for the 10th consecutive time, and being named a Challenger in the European BARC Score Reports for Financial Performance Management and Integrated Planning and Analytics
- Received numerous top awards recognizing multiple aspects of its operations, including the BIG Innovation Award product award for Planful Predict; BIG Award for Marketing Department of the Year; Great Place to Work certifications in the U.S., Canada, U.K., and India; and the Globee Awards, recognizing Planful's People Team as the HR Department of the Year
TogetherWork, who partnered with Planful to support its forecasting efforts and eliminate manual work, is a leader in software and payments for groups and organizations of all kinds with more than 700 employees. "Planful has transformed our forecasts from an excel-based process where we had to collect feedback from multiple parties and stitch several files together, to a seamless process where changes are real-time and have a higher degree of accuracy," said Talyon Perry, Senior FP&A Analyst at TogetherWork. "We've found that Planful is very adaptable and customizable for the unique use-cases that our business requires."
Grant Halloran, Planful Chief Executive Officer, said: "I'm proud of our team's successes and rapid growth in 2022. This is a direct result of the winning culture we've established, built on a core value of striving to do what is right for our customers. As businesses continue to face uncertainty and volatility, our solutions are very well positioned to navigate change faster than ever, driving peak financial performance regardless of conditions."
Requests for a demo can be made here: www.planful.com.
About Planful
Planful is the pioneer of financial performance management cloud software. The Planful platform, which helps businesses drive peak financial performance, 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.
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