Parallel Reviews & Product Details

Speed to insight. Parallel keeps modeling simple. This allows for quickly stress-testing decisions before making them which is game changer when scaling a venture backed company. Review collected by and hosted on G2.com.

Requires an initial investment of time to onboard, but Parallel's support team is top notch and really helps you understand the most important things to focus on at each stage of the startup journey. Review collected by and hosted on G2.com.

I have had a great experience on Parallel. It's insightful and helps me think through building a forecast and model starting with the basics. The tool helps me build a budget for my startup tech business and offers a budget vs actual report. It aids in building out my headcount forecast, driving my budget from both an expense and revenue perspective, especially if the headcount is sales-related. The customer success team is fantastic, knowledgeable about FP&A for tech businesses, and assists with setting up my budget and any questions about using the tool. They also help with financial reporting and preparing for equity raises. I love how seamlessly the system integrates with my accounting system, pulling historical data and making life easier. It's easy to create different scenarios on top of my standard budget and compare them to my main forecast. It's designed so that even a non-technical finance person like an operating founder can use it, making it very insightful. The scenarios are useful for deciding on hiring, revenue changes, product adjustments, and sales team planning. The initial setup was very easy, with the team onboarding me quickly and great training. I no longer have to manage spreadsheets and formulas as I did before using Excel and Google Sheets. Review collected by and hosted on G2.com.

I would like to see revenue by customer in the system, so I can think through how each customer when I am reviewing my model. They are working on adding this feature here shortly, however. Review collected by and hosted on G2.com.

Honestly, one of the best things about Parallel is the level of support and attention to detail. The team REALLY cares and works so hard to help us make sure that Parallel was actually useful to me and our business. I love being able to see multiple scenarios so I can plan for different business situations, whether it's doing well or struggling. It helps me understand the impact of headcount and other factors. I like that it connects my expenses with my revenue model, helping me understand how spend impacts revenue growth and whether we should hire more or wait. I like that it's built around helping me make faster decisions as a founder, which is really critical. That's something I would never take the time to do without Parallel. Review collected by and hosted on G2.com.

I found there was a bit of a learning curve coming into Parallel simply because I didn't have a strong finance background. It was a little hard at first to wrap my head around how I should be thinking about my finances, but the customer success team was incredibly helpful and made it way easier to get up to speed. Review collected by and hosted on G2.com.

I love the scenarios feature in Parallel because it allows me to test out different assumptions and see how they would affect our business as a whole. This feature provides me with a logical and quantitative approach to evaluating various business decisions, enhancing our strategic planning process. It was incredibly easy to set up our full financial model with Parallel, taking less than an hour, which has been efficient and has worked reliably for months. The integration with QuickBooks is seamless, enabling a more cohesive workflow. Overall, Parallel has significantly improved the clarity and understanding of our financial model, which was not achievable with our previous approach of using a fractional CFO. The ease of use and valuable features make me very likely to recommend Parallel to others. Review collected by and hosted on G2.com.

I wish Parallel had more features to function as a complete accounting system in the future. Review collected by and hosted on G2.com.

I love how financial forecasting and accounting is centrally located on one dashboard. It's easy to navigate for someone who doesn't have tons of finance experience. Customer support is always quick and efficient. Review collected by and hosted on G2.com.

Small bugs from time to time that prevent me from using all of the products features. That being said they get fixed pretty quickly. Review collected by and hosted on G2.com.

Finance is this black box that as a founder I need the answers from, but don't want to waste hours learning. I love how easy they break it down and fast they were able to show me how my business is operating and give me the ability to run the what-ifs. Not to mention how fast it was to get onboarded and how responses their team has been. With a few clicks we were connected to our system and are able to pull our expenses daily! Review collected by and hosted on G2.com.

Nothing right now, it's really lived up to the hype! Review collected by and hosted on G2.com.

Parallel is so easy to use. They've created it in a way that is tailored to founders and the way they think. I've used other forecasting and scenario modeling tools and no matter how hard I tried to use them, my work always needed to be changed by their internal teams because I never did it the way they intended me to. So there was always so much friction in the past. Parallel is easy to use, implement, and get started with. I was up and running immediately and I haven't needed much hand holding. Parallel's team is so good too. We have a dedicated slack channel with their team and they are so responsive. They are very open to feedback as well. What I love most about their team is most of the time when I have feedback or suggestions on things they can change, it's like they read my mind because they have already implemented those changes before I bring them up. They are constantly shipping new features and working hard to release helpful things. I use Parallel consistently as things are always changing in our business. Parallel has also become part of my closing the books process. Whenever I close the books, Parallel is a huge aspect of that process where I input my actuals and adjust my modeling for the future based on my actuals. I love the team and product over at Parallel. Review collected by and hosted on G2.com.

Even though I love the simplicity of how they built the platform, there are scenarios where I wish they had more advanced functionality. Review collected by and hosted on G2.com.

Being able to easily and quickly model out the impact of spend. I feel like as a founder I'm always hesitant to spend money on growth when I think extra work on my part could do it instead (which almost always is way slow), and this has helped me to recognize when I should be spending money to speed things up. Review collected by and hosted on G2.com.

There are always tradeoffs when using software to provide what traditionally a hire would (finance hire), but it's been well worth it. Review collected by and hosted on G2.com.

Parallel easily integrated into our QuickBooks in under 1 hour had our entire business modeled, auto-refreshing forecasts and giving us insight for runway, burn, revenue and more. Chargebee doesn't provide much out of the box when it comes to forecasts, so Parallel took it upon themselves to export the data monthly and provide updated revenue forecasts based on all the subscription data. They also give you the attention you need with their support team! Review collected by and hosted on G2.com.

Nothing I dislike. For a non-finance founder, can't wait to see what they come up with AI coaching:) Review collected by and hosted on G2.com.

My alternatives are long spreadsheets or no finance. With Parallel, I can easily model out future scenarios with very little finance background.

Basic & intermediate financial modeling advice is baked into the product, and the AI calls out when I do something that may be incorrect.

The support/success is unparalleled as well! Review collected by and hosted on G2.com.

I don't find myself using it extremely often. I'm not sure it's connected to quite enough data sources to be a live source of truth.

Even though the Quickbooks integration is great, I would love to pass other data in there as well: Headcount, MRR, etc. Review collected by and hosted on G2.com.