Parsons: Active financial planning accelerates business growth by 30%
Sabrina Parsons · 1661 How Palo Alto Software Broke $14m in ARR Serving SMB's · Feb 10, 2020 · at 7:38
Sabrina Parsons, CEO of Palo Alto Software, explains how financial planning tools improve business performance and reduce churn.
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“So anyone, whether they use our tools or not, if you actively engage in planning and financial management, you will grow 30% faster, according to a research report by a Cranfield University professor who did a ten-year cohort.”
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More from Sabrina Parsons
Parsons: LivePlan has over 100,000 active paying subscribers
“So in a given time, in say, live plan, we'll have over a 100,000 paying subscribers”
Parsons: LivePlan has served over two million cumulative customers historically
“We've had over two million customers In the live plan product. They're not all actively paying us right now.”
Parsons: Palo Alto Software targets $50M ARR within five years
“So, 50 but that, it's not just live plan, that's adding this outpost product to it, and that's, you know, the five-year goal, my big stretch goal, that's where I would like us to be.”
Parsons: Bplans.com attracts two million unique monthly small business visitors
“We serve two million unique small businesses every month on bplans.com.”
LivePlan churn drops to 3% when users connect an accounting integration
“If you connect an accounting solution, then that turn is getting down there. It's not quite two, but it will hover somewhere between three and four.”
LivePlan LTV reaches thousands when users connect accounting and invite accountants
“Oh yeah, absolutely. When somebody is in there, they've connected an accounting solution. Another indicator of long lifetime values, if you've connected an accounting solution and you've invited your accountant into live plan.”