PlaceCPM is a strategic finance platform that is driving more collaborative and well-informed decision-making within dynamic businesses by connecting finance with stakeholders across the rest of the organization. With today’s release of the integration with NetSuite, more midmarket companies will have access to this transformational potential.
This pre-built, two-way integration completes and automates the lead-to-cash process, without the need for middleware. PlaceCPM also further enhances workflows that create accurate forecasts, consolidates information-sharing, and enables sales, operations, and finance teams to collaborate more effectively.
Mind the Information Sharing Gap
This integration will give finance and accounting teams using NetSuite the ability to produce live financial forecasts and an arsenal of financial reports, dashboards, and analytics, creating reliable predictions for cash flow, profit and loss, hiring plans, and more.
Bring the Finance Team Out of the Backroom and Into the Cockpit
The PlaceCPM platform, which operates inside of the highly secure Salesforce environment, is specifically designed to give finance a strategic seat at the table.
Place Technology Founder & CEO Brandon Metcalf said: “I’ve never understood why just about everything finance does is siloed from the rest of the business. Yes, some things are confidential, but the vast majority of the data is ultimately shared with the business. Unfortunately, this has traditionally come with long delays and a tremendous amount of administrative tasks. With PlaceCPM, the finance team can get out of the backroom and into the cockpit. They come into the operating environment where they are able to have a more strategic role.”
“Instead of searching for the data in a variety of systems, it’s at their fingertips, in real-time. Finance can feel confident and trust the data more because they can see the full picture and not just a limited data export that still leaves them guessing at details. They can spend more time advising the business on what the numbers are saying and less time crunching them.”
Controlling the Flow of Data
Another advantage of PlaceCPM is that it offers a secure and controlled channel for information sharing in both directions. For example, a salesperson may want to know what the average margin is on a certain type of project to inform a proposal or even what the customer’s payment history is. Instead of having to email questions or make phone calls and wait for finance to produce the needed information, they can now have it when and where they need it.
The same goes across the business – for instance, the marketing department can see their typical metrics around lead generation, conversions, traffic, etc, combined with PlaceCPM financial information on budget, vendor spend, financial ROI, and more. All in real-time and all in one place.
Success for the finance team depends on accurate and timely information from the rest of the organization about both revenue and cost. In some organizations, this data is shared in an uncontrolled way across a variety of channels, PlaceCPM consolidates this process.
Equally important, success for the business relies on making the best decisions as quickly and data-driven as possible. This requires financial data that is accurate and current. Without it, leaders are left to make these decisions with out-of-date data, no data, or they delay the decision.
A Solution for Small and Mid-Sized Companies
PlaceCPM is purpose-built to solve these challenges for small and mid-size companies. Previously, this type of solution was only available to enterprise companies due to the enormous cost of integrations, implementations, and ongoing maintenance. Place Technology’s approach is to simplify this and dramatically reduce the cost and effort to make this attainable for companies that range from 10 to 1000 employees.
“We know the challenges SMB companies face because we are one. We also experienced these challenges at my last high-growth software startup,” says Metcalf. “We know the immense value this solution provides both financial and operationally.”
About Place Technology
Founded in 2018 by serial entrepreneurs Brandon Metcalf and Kabe VanderBaan, Place Technology is a leading financial forecasting solution for technology and services companies. Place Technology’s core solution, PlaceCPM, delivers the 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. For more information, visit www.placetechnology.com.