Powerful tool for short and long-term financial planning and real-time financial and operational analysis.
December 14, 2023
Powerful tool for short and long-term financial planning and real-time financial and operational analysis.
Score 10 out of 10
Vetted Review
Verified User
Modules Used
- Structured Planning
- Reporting
Overall Satisfaction with Planful
We leverage Planful to support our financial planning and analysis function, as well as to provide operators in the business with real-time insights throughout the year. Planful enables our annual budget preparation as well as our five-year long-range plan. The integration of the software with our payroll platform as well as our ERP is critical and a key part of the value proposition for the software.
- Integration with other platforms - payroll, ERP, etc.
- Real-time scenario analysis
- Live data from the ERP allows for quick response to business changes
- Data quality and repeatability
- Ease of use for report writing
- Behind the scenes interface is somewhat clunky for a first-time user
- The login process is not streamlined. I have to go through the company's website vs. just going to a favorite in my browser
- Has allowed users to view a real-time P&L in a way they weren't able to do with Qlik.
- Budget to Actual analysis has become much more streamlined and actionable
- Long-range plan process has been significantly streamlined and a lot of time has been cut out of the process.
It has allowed me to have access to much more data at my fingertips, rather than having to ask others in the organization to pull together reports for me, or spending a lot of time piecing them together on my own. The integration of Payroll information, with appropriate controls and visibility limitations, has made a significant difference in the ability to do real-time scenario planning.
The integration of payroll and fully-fledged P&L data into one location has allowed me to run more detailed scenario analyses and provide more relevant, actionable data to the CFO and others within the organization. One noticeable area is in COGS and margin analysis and planning, where the ability to run scenarios and look at detailed costs has been very beneficial.
Planful seems to do a better job of pulling things in a format that is more understandable to an accounting-minded person, whereas the other platforms seem more focused on operations. From a detail perspective, Planful provides more powerful and complete data, in my experience. When using a platform for financial planning and budgeting, the details are critical and the ability to match the GL structure and pull full P&L data has been a big improvement from Qlik, which we used previously.
Do you think Planful delivers good value for the price?
Yes
Are you happy with Planful's feature set?
Yes
Did Planful live up to sales and marketing promises?
I wasn't involved with the selection/purchase process
Did implementation of Planful go as expected?
I wasn't involved with the implementation phase
Would you buy Planful again?
Yes