Optimizes financial controls and extends platform functionality for target industries
AUSTIN, Texas–(BUSINESS WIRE)–Place Technology (Place), a leading financial forecasting solutions provider for SaaS and professional services companies, today announced a series of product enhancements for its core solution, PlaceCPM. Its new capabilities are designed to improve workflows for finance and increase collaboration among business operations teams.
The following are available for Place Technology customers in January 2021:
- Cost controls: Spend approvals can be managed within the PlaceCPM platform, including approval workflows and automated notifications. Users can submit and manage approvals for new hires, increased employee compensations and new purchasing decisions, among other use cases.
- Audit trail and accountability: All user-made changes are tracked, allowing for complete visibility into forecast adjustments and historical data.
- Rate cards: Professional services companies can build out the revenue and cost for individual projects, including resource allocation, hourly billing rates and record any pre-payments or project deposits for accounting.
- Month-end workflows: Enables finance teams to streamline forecast variance analysis and easily manage predicted or unpredicted cash flow month-to-month to continually improve the quality of forecasts on a rolling basis.
- Enhanced SaaS dashboards: SaaS customers can measure churn, Rule of 40, sales efficiency (Magic Number), customer lifetime value (LTV) projections and overall business health. This adds to the dashboard’s existing functionality of cash burn, bookings and renewals, recurring revenue, and growth rates.
“Static, annual financial planning is no longer viable for today’s businesses,” said Brandon Metcalf, CEO of Place Technology. “Continual forecasting can support companies through fast-growth stages and help adapt to ever-changing market conditions, but this approach can be near-impossible with the amount of data and upkeep it requires. Our solution makes it possible by creating workflows for finance teams, driving collaboration with operations and breaking down data silos for instant reporting.”
These platform enhancements reflect the market’s transition from static annual budgeting to dynamic, real-time financial forecasting and planning. With Place Technology, SaaS and professional services companies have the flexibility and visibility to build on-demand financial models that accurately reflect day-to-day operational changes.
Additional product features are scheduled to be announced at the end of Q1 2021. For more information, click here.
About Place Technology
Founded in 2018 by serial entrepreneurs Brandon Metcalf and Kabe VanderBaan, Place Technology is a leading financial forecasting solution for SaaS and professional services companies. Place Technology’s core solution, PlaceCPM, delivers flexibility and accuracy that finance teams need to generate more models with greater business impact in less time. Armed with an arsenal of accurate, on-demand financial models and dashboards, companies can improve their business preparedness and enhance profitability. Headquartered in Austin, Texas, Place Technology has raised more than $4 million in funding to date led by Geekdom Fund. For more information, visit www.placetechnology.com.