Planful Streamlines Financial Forecasts For UK Meal Kit Retailer Gousto, Cutting Prep Time from Weeks to Days
UK Company Increased Frequency of Forecasts from Quarterly to Monthly; Massively Improved Reporting Offers Gousto a Strong Recipe for Growth
REDWOOD CITY, Calif., September 27, 2022 /PRNewswire/ -- Planful Inc., the pioneer of financial performance management cloud software, today announced that it has helped cut down financial forecasting times for Gousto, one of the UK's leading meal kit retailers.
Since its conception in 2012, Gousto has grown into a profitable unicorn business, selling 90 million meals with a record £315 million in net revenue last year. As a result of its rapid growth, it became even more crucial for Gousto's finance teams to have an efficient and modern solution in place for their budgeting and financial planning activities.
Implementing Planful has positively impacted Gousto in numerous ways—but perhaps nowhere more than in time savings for critical FP&A tasks. Rolling forecasts, previously a quarterly activity that took a team of 30 people two weeks, now can be done in two days. The savings have allowed Gousto to now generate monthly forecasts and still save significant hours of labor each month. Gousto estimates that with Planful they have given each teammate nine days back for other key priorities every quarter.
"In the past, budgeting was difficult because so many spreadsheets were involved. Information was disconnected and the right numbers weren't always getting to the right people," noted Stephan Burow, VP Finance at Gousto. "Planful lets us collaborate with team members much more effectively. We aren't so preoccupied with putting numbers together, which means we can spend more time analysing."
Burow also commented on the resulting improvement in business reporting. "Our level of reporting, when compared to the past, is much more detailed. We're getting a much better understanding of what's happening with our numbers, which means we're able to act with far greater agility."
Kimberly Simms, Chief Customer Officer at Planful, said: "We're thrilled that Gousto chose to partner with Planful for their financial forecasting needs. At Planful, our number one value is our customers, and nothing makes us happier than hearing that Gousto is able to save a tremendous amount of hours per month using our platform. We look forward to our continued partnership with Gousto as they continue on the path of significant growth."
To learn more about Planful, visit www.planful.com.
About Planful
Planful is the pioneer of financial performance management cloud software. The Planful platform 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 1,300 customers, including Boston Red Sox, Bose, 23andMe, Zappos, and Five Guys rely on Planful to accelerate their 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 www.planful.com.
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