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Planful’s New Product Innovations Enable Finance Automation, Collaboration, and Innovation

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Planful’s New Product Innovations Enable Finance Automation, Collaboration, and Innovation

New Technology, Ideas, and Strategies Shared at Perform24 Support Finance, Accounting, Marketing, and HR Leaders Go Beyond to Drive Peak Financial Performance

SAN FRANCISCO, May 15, 2024 /PRNewswire/ — Planful Inc., the pioneer of financial performance management cloud software, announced today, as part of the Perform24 theme to “Go Beyond,” an array of product advancements tied to three key pillars: Automate, Collaborate, and Innovate. The company unveiled the future of Planful AI, new Planful for Workforce and Planful for Marketing capabilities, connectors with Snowflake and Microsoft Power BI, and more. The company also debuted the Solution Hub, an all-new searchable collection of pre-built solutions, open for anyone to explore, and for customers to configure. With these advancements, Planful is bringing increased value to large and fast-growing organizations and supporting their business leaders in driving peak financial performance.

“Achieving successful financial performance management requires a highly-collaborative effort and organizations who treat it as a team sport will thrive and outperform their competitors,” said Steve Welsh, Chief Product Officer, Planful. “Planful’s purpose-built product delivery and vision is an intentional result of working with our customers to make that team effort easier, faster, and more connected by unlocking the data teams need to make confident decisions.”

Innovate: The Future of Planful AI

The company announced the extended vision for Planful AI and significant investments that will bring its first generative AI experience to customers later this year. Finance and business leaders will have access to a unified suite of Planful AI solutions that include:

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  • Operational automation that anticipates tasks and processes, recommends next steps, and gathers insights into how a process is running and if a reminder is needed to complete data inputs for a forecast
  • Analytics and decision support for both simple and complex, time-consuming scenario analysis that anticipates tasks to uncover variances and the meaning behind the numbers, while also suggesting next steps to further the analysis when business leaders are evaluating key business decisions

These new generative AI capabilities will complement the company’s existing, industry-leading Planful Predict AI/ML suite of solutions, which have been foundational in automating forecasting, error detection, and manual processes for businesses worldwide.

Collaborate: New Capabilities for Planning as a Team Sport 

At Perform24 the company introduced new solution advancements, including Planful for Workforce capabilities and Planful for Marketing features, that improve business outcomes by facilitating collaboration and unlocking access to data across teams.

The new Planful for Workforce capabilities announced at Perform will enable Finance and People leaders to collaborate directly in the platform to generate actionable insights. These capabilities include advanced analytics, actuals data loading at the most granular level, multi-currency capabilities for employee and compensation item planning, and more. With almost 90% of Planful customers using Planful for Workforce, users will be able to leverage their existing data to rapidly conduct complex scenario analysis in managing their most valuable asset–people.

The latest Planful for Marketing advancements include a new integration with Coupa; further reporting enhancements, including custom fields and attributes; and new forecasting capabilities.

Automate: Frictionless Access to Data

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Planful introduced several new connectors that will further support customers with their overall data strategy. A new connector with Snowflake, a data-cloud company, enables governed access to limitless volumes of financial performance and other business data. This integration will meet the growing need of enterprises to share data, build AI/ML applications, and power business growth using a modern data infrastructure. It will also reduce friction, speed data access, and enable highly-complex financial modeling and calculations. The new connector with Microsoft Power BI, an interactive data visualization software product, accommodates the consumption of Planful data to augment with other data sources natively in Power BI.

Protective Industrial Products, a global leader in personal protective equipment that offers an extensive range of over 20,000 products, leverages the Planful platform for agile and efficient planning as it continues to expand its market reach and diversify its offerings through many strategic acquisitions. “Planful’s automation capabilities have greatly streamlined our acquisition processes,” said Mark Smith, Director, Corporate FP&A at Protective Industrial Products, and a speaker at Planful Perform24. “Planful has become a must-have tool for our team and we integrate it into each of our newly acquired entities. Its automation capabilities not only help to simplify acquisition processes, but also enhance our consolidation and workforce planning in a very dynamic M&A environment.”

New Early Adopter Program

Customers can now join an early adopter program with Planful to gain access to a range of unreleased product advancements and find opportunities to co-innovate and trial Planful AI. With this new program, Planful continues to prioritize product development that is closely attuned to practical customer needs and top feedback.

Watch Perform24 live today or on demand later this week to hear what Planful customers and industry thought leaders are saying about driving peak financial performance.

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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 1,400 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 planful.com.

Additional Resources
Hear from Planful customers.
Learn what Planful can do for finance, marketing, HR, and other teams.
Join the conversation on 
LinkedIn, Twitter, or Facebook.

SOURCE Planful, Inc.

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Finance

SRG Housing Finance Q4 Results Live : profit rise by 45.65% YOY

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SRG Housing Finance Q4 Results Live : profit rise by 45.65% YOY

SRG Housing Finance Q4 Results Live : SRG Housing Finance announced their Q4 results on 23 May, 2024, showcasing a significant growth in their financial performance.

The company reported a 38.64% increase in revenue and a 45.65% rise in profit year-over-year.

Quarter-on-quarter comparison also revealed positive growth, with revenue growing by 13.89% and profit increasing by 14.46%.

However, the Selling, general & administrative expenses saw a noticeable increase, rising by 8.82% sequentially and 43.86% year-on-year.

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Similarly, the operating income also showed a positive trend, with an 18.1% increase quarter-on-quarter and a 42.73% rise year-on-year.

The Earnings Per Share (EPS) for Q4 stood at 4.72, marking a 29.67% increase year-on-year.

In terms of market performance, SRG Housing Finance delivered a 2.84% return in the last week, 0.87% return in the last 6 months, and a 1.99% year-to-date return.

The company currently holds a market cap of 378.12 Cr, with a 52-week high/low of 336.75 and 230 respectively.

SRG Housing Finance Financials
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Period Q4 Q3 Q-o-Q Growth Q4 Y-o-Y Growth
Total Revenue 36.15 31.74 +13.89% 26.07 +38.64%
Selling/ General/ Admin Expenses Total 7.64 7.02 +8.82% 5.31 +43.86%
Depreciation/ Amortization 1.71 1.58 +7.86% 0.97 +76.31%
Total Operating Expense 28.79 25.51 +12.86% 20.92 +37.63%
Operating Income 7.35 6.23 +18.1% 5.15 +42.73%
Net Income Before Taxes 7.61 6.7 +13.64% 5.37 +41.65%
Net Income 6.09 5.32 +14.46% 4.18 +45.65%
Diluted Normalized EPS 4.72 4.09 +15.33% 3.64 +29.67%

FAQs

Question : What is the Q4 profit/Loss as per company?

Ans : ₹6.09Cr

Question : What is Q4 revenue?

Ans : ₹36.15Cr

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Published: 26 May 2024, 02:27 AM IST

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G7 finance ministers back plan to use Russian assets for Ukraine funding – the FT

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G7 finance ministers back plan to use Russian assets for Ukraine funding – the FT

Stock photo: Getty Images

The G7 finance ministers supported the idea of providing Ukraine with a loan secured by profits from frozen Russian assets to ensure funding for Kyiv after 2024.

Source: Financial Times, citing the draft communiqué of the ministers’ meeting, as reported by European Pravda 

The ministers’ discussions were based on a US proposal, which was circulated before the meeting in the Italian city of Stresa, to issue Ukraine a loan of about US$50 billion, to be repaid from the profits of the Russian central bank’s assets amounting to around €190 billion. 

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The ministers stated that they were “making progress” in working out options to “bring forward” the profits, according to the draft communiqué. They added that options for structuring the loan would be presented to the G7 leaders before the June summit.

They also promised to continue pressuring China to reduce industrial subsidies that they believe are driving Western competitors out of business, and stated that implementing the most significant global tax agreement in more than a century is a “top priority”.

The G7, a group of advanced economies that includes all major Western allies of Ukraine, aims to ensure funding for Kyiv in the long term, even after this year when crucial elections will take place on both sides of the Atlantic. 

According to people familiar with the negotiations, many details of the loan are yet to be agreed upon, including the amount, who will issue it, and how it will be guaranteed in case of Ukraine’s default or if the profits do not materialise. 

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One official mentioned that Europeans are particularly concerned about “fair-risk sharing”, fearing that Europe will bear the brunt of the financial and legal risks and potential retaliatory actions from Russia, as most of the assets are located on the continent.

This week, the EU officially approved a plan to use interest from frozen Russian assets, which, according to estimates, could bring up to three billion euros per year to Ukraine.

Background:

  • In February, the United States argued that G7 countries should fully seize frozen assets, but later abandoned this idea due to concerns from allies that it could set a dangerous legal precedent and prompt retaliatory measures from Russia.
  • Earlier, Minister of Foreign Affairs Dmytro Kuleba stated that Ukraine insists on the confiscation and transfer to Ukraine of all frozen assets of the Russian Federation held in the West.

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Finance

Big Players Maneuver In Global Finance And Industry

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Big Players Maneuver In Global Finance And Industry

What’s going on here?

From hostile takeovers to strategic acquisitions, major financial and industrial players are making bold moves to bolster their market positions. Spanish bank BBVA, Swiss private bank Julius Baer, and British IT services group Redcentric are all in high-stakes negotiations for potential mergers.

What does this mean?

BBVA’s €12.23 billion hostile takeover bid for Sabadell marks a major potential consolidation in the Spanish banking sector, despite opposition from Madrid. Julius Baer’s talks with EFG International highlighted competition in Swiss private banking, though discussions have ceased. In IT services, Redcentric’s negotiations with Milan-listed Wiit SpA could lead to a substantial acquisition. Additionally, private equity firm Carlyle is preparing to sell aerospace manufacturer Forgital, signaling increased activity in the aerospace sector. Also, Deutsche Bahn is advancing in the bidding process for its logistics subsidiary Schenker, with four contenders still vying for it.

Why should I care?

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For markets: Strategic consolidations and divestments.

These moves reflect broader trends of consolidation and strategic realignment across industries. BBVA’s bold bid for Sabadell and Criteria’s acquisition of a 9.4% stake in ACS for €983 million signify aggressive strategies to capitalize on market opportunities. Carlyle’s plan to sell Forgital and Saudi Aramco’s in Repsol’s renewable energy division highlight the growing focus on portfolio diversification and sustainability.

The bigger picture: Global shifts in financial and industrial landscapes.

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These developments indicate profound changes in the global financial and industrial sectors. KKR’s likely approval to acquire Telecom Italia’s fixed-line network without EU antitrust conditions signals a favorable regulatory climate for strategic deals. On the flip side, the Italian government’s decree for state broadcaster RAI to possibly merge its tower unit, RaiWay, with EI Towers shows the fluidity of managing national strategic assets. Meanwhile, Coventry Building Society’s £780 million purchase of Co-operative Bank underscores ongoing consolidation in the British banking sector.

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