Global Expansion and Continued Innovation Drive Planful's Growth in First Half of 2024

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Aug 13, 2024, 11:55 ET

Company's AI Advancements and Purpose-built Solutions Empower Businesses Worldwide, Driving Strong Growth

SAN FRANCISCO, Aug. 13, 2024 /PRNewswire/ -- Planful Inc., the pioneer of financial performance management cloud software, today announced record-breaking new bookings for a first half of the year, propelled by product innovations, widespread industry recognition, and increased investments in the company's innovation and growth strategies.

Grant Halloran, Planful Chief Executive Officer, said: "We've had a strong first half of the year at Planful. Our global growth was driven by high customer satisfaction, which was evident as customers of all sizes, and notably, large enterprises, expanded their use of our platform and adopted more of our solutions. With continued investments in Planful AI and an expanding team in Europe, we are poised to build on this growth and continue our momentum in the second half of the year. I am very proud of our team's hard work and dedication, which has been instrumental in all that we've achieved thus far."

In the first half of the year, Enterprise expansion bookings were up 136% year-over-year, as customers such as Del Monte Fresh Produce Company, La-Z-Boy, Five Guys Enterprises, and Grafton Plc scaled their use of Planful. Internationally, the company's momentum continued with new bookings up 43% year-over-year. New customers signed in the first half of the year include ThredUP, UpWork, Chemical Guys, and many others.

Additionally, Planful appointed former Blackline sales leader, Andy Bottrill, as SVP EMEA to lead an accelerated expansion in the region.

Customers are increasingly adopting additional solutions from Planful, bringing greater detail, rigor, and speed to other operational planning and forecasting areas such as Workforce, IT, and Marketing.

"At La-Z-Boy, our FP&A team has been using Planful for financial performance management for nearly a decade and we are excited to expand its capabilities to drive financial performance within our marketing department," said Nelly Martinez Garza, Sr. Director of Consumer Marketing at La-Z-Boy Incorporated. "Bringing the planning and execution of our marketing spend for multiple segments of the business into one unified platform will be a game changer for us. As we begin our implementation, we are confident in our selection of Planful for Marketing to help us save time spent tracking and reconciling budgets so that we can put even greater focus on building and optimizing consumer-first strategies that expand La-Z-Boy brand reach, ultimately contributing to better financial outcomes for La-Z-Boy as a whole."

In May the company held Perform24, its annual user conference, where Planful celebrated its customers' achievements by welcoming new members to the esteemed Champions Club and recognizing others through its Customer Awards program. Significant product enhancements and new innovations were unveiled at the event, including:

Solution Hub: A searchable collection of pre-built, customizable solutions that support crucial financial performance management use cases across a wide range of functions and industries.
An extended vision for Planful AI: Generative-AI experiences are launching this year, offering finance and business leaders a unified suite of solutions that include operational automation to anticipate tasks, recommend next steps, and gather process insights, along with analytics and decision support for scenario analysis, variance detection, and key business decision guidance.
New Planful for Workforce capabilities: Finance and People leaders will be able to collaborate directly in the platform to generate actionable insights. New capabilities include advanced analytics, actuals data loading at the most granular level, multi-currency capabilities for employee and compensation item planning, and more.

In the first half of 2024, Planful continued to earn recognition as a market leader from top industry analysts and through customer reviews including:

Analyst recognition on the Constellation Research ShortList™ for Cloud-Based Planning and Performance Management Platforms, as a "Key Competitor" in the BPM Partners Vendor Landscape Matrix for Performance Management Solutions, and as a "Leader" in the IDC MarketScape for Worldwide Enterprise Planning, Budgeting, and Forecasting Applications for Midmarket Organizations.
Customer satisfaction recognition across multiple categories in G2's Spring and Winter Crowd Reports, placement in the G2 Spring 2024 Grid® for Budgeting and Forecasting Software as a leader with a strong market presence, and 2024 TrustRadius awards as a Most Loved and Top Rated company.
Employee accolades with Great Place to Work® Certifications in the U.S., Canada, U.K., and India; recognition as a Fortune Best Workplaces in the Bay Area™; and ranked in the top 25 of Glassdoor's Best Places to Work 2024: Small & Medium Businesses.
Global leadership momentum with Planful Chief Marketing Officer Rowan Tonkin named as one of Pavilion's 50 CMOs to Watch in 2024 and the promotion of Steve Welsh to Chief Product Officer.

For more information about Planful, its customer success stories, and its latest innovations, visit 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 1,500 customers, including 23andMe, Bose, Boston Red Sox, Five Guys, Grafton Plc, Gousto, 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 planful.com.

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