If you’re a VP of Sales, you’ve likely heard of SalesForce. Head of Marketing? You should learn about HubSpot. CTO? Check out Zendesk.
But what if you are managing a company’s financials? Meet Profitably, a New York City startup that specializes in the next generation of business analytics and financial optimization software for small businesses, not the mom and pop kind, but the kind with 30-40 full-time employees. Profitably is a software as a service business that looks at five areas of a company’s finances- cash flow, budgeting and forecasting, benchmarks, balance sheets and debt ratios and as the name suggests, profitability.
Looking at the three-month “chunks” of May-Aug and Aug-today, Profitably has seen more return visits (2.4% to 24%) and a lower bounce rate in its app (42% to 0.6%). “We’re pretty psyched,” says Profitably CEO, Adam Neary. And it all makes sense. In mid-August it launched the Planning tool, which is a forever free, barrier-free feature that helps entrepreneurs put some math behind their narrative business plan. In just 14 days from the launch of Planning, Profitably saw more traffic in the app than it did in the 10 months leading up.
Profitably has just pushed out a new Scenario Comparison feature that is particularly useful in helping entrepreneurs rationalize a new product offering. It’s very useful to see what a new product would do to your P&L statement.
Check out the new feature here (click to enlarge).
“So basically August-today have been pretty awesome,” Neary says. “Our interactions with over 4,000 small business owners has helped us figure out what to put into the product (Planning and Scenario Comparison are good examples).”
For more on Profitably, check out our full story “For CFOs, Profitably is your virtual life partner.”