OnPlan, an FP&A and forecasting softare, reportedly notified customers that they are discontinuing support for their clients, sources from the company have confirmed.
The Florida based FP&A software solution, which has raised $6.8 million according to Crunchbase, has run out of money and will continue operations going as long as possible, the source said.
OnPlan was founded in 2016 by David Greenbaum and reached $1.5 million in revenue in 2023.
OnPlan is unique in that it’s a “financial forecasting platform built on Google Sheets,” their website says. While other FP&A software such as Datarails and Vena are Excel native, OnPlan is Google Sheets native.
OnPlan was built for companies between $0-20 million in revenue, CEO David Greenbaum explained in an interview in June, 2022. “Most companies have to get to around $20 million in revenue before they can access a tool other than Excel for their forecasting and projections,” Greenbaum said. “But there’s a lot of pain that people experience between $0 – $20 million. I wanted to build a tool that could fill that gap.”
Many of its customers will now be looking for a new financial planning solution that will cover their automation, budgeting, and reporting needs.
Here is a list of 3 software solutions that are similar to OnPlan which former customers can switch to easily:
Clockwork is a great FP&A starter option for small and medium sized businesses. It is a cheaper ($299-799 per month) option than others on the list, and therefore slightly less robust, but it is great for small businesses. In addition their website claims that “Clockwork is the only purpose-built tool focused on QuickBooks Online and Xero companies.”
Datarails is a native Excel FP&A solution that specifically caters to small and medium sized businesses. Its complete budgeting and forecasting solution along with its new AI chatbot and automated visual features helps save finance teams lots of time every month. Datarails’ implementation time is also one of the shortest on the market (2 weeks) making it an easy transition from other tools.
Their website even has a special offer for OnPlan customers looking to switch.
Prophix is a CPM (corporate performance management) software that is meant for midsize or larger businesses. Prophix focuses on deep financial insights (in addition to the standard budgeting and forecasting solutions). Due to the size of some of their customers, Prophix also emphasizes data protection and compliance standards.