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Parallel

By Parallel

4.9 out of 5 stars
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Parallel Pros and Cons: Top Advantages and Disadvantages

Quick AI Summary Based on G2 Reviews

Generated from real user reviews

Users value the ease of use in Parallel, appreciating quick setup and intuitive features for business modeling. (3 mentions)
Users love the easy setup of Parallel, allowing quick decision-making and scenario testing for their business needs. (3 mentions)
Users value the accurate forecasting capabilities of Parallel, which enhance decision-making confidence and strategic planning. (3 mentions)
Users find the customer support great, facilitating easy communication and enhancing their experience with the product. (2 mentions)
Users love the decisionmaking financials of Parallel, enabling confident, data-driven choices for business growth. (2 mentions)
Users value the customization options of Parallel, allowing easy sharing and scenario management for business models. (1 mentions)
Users find the Dashboards in Parallel time-saving, providing clear insights into finances and simplifying decision-making. (1 mentions)
Users note occasional software bugs with Parallel, especially early on, but recent updates have improved stability. (2 mentions)
Users report download issues with financial views, but the team is responsive to feedback and improvements. (1 mentions)
Users desire more features in Parallel to enhance its functionality as a comprehensive accounting system. (1 mentions)
Users note a steep learning curve in migrating from manual spreadsheets to Parallel, requiring significant time investment. (1 mentions)

Top Pros or Advantages of Parallel

1. Ease of Use
Users value the ease of use in Parallel, appreciating quick setup and intuitive features for business modeling.
See 3 mentions

See Related User Reviews

TM

Tyler M.

5.0/5

"Clarity and Ease with Parallel's Financial Modeling"

What do you like about Parallel?

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.

Cory M.
CM

Cory M.

Small-Business (50 or fewer emp.)

5.0/5

"Great for startup projections and runway"

What do you like about Parallel?

Quick setup Easy to run different scenarios of your business model Easy to contact customer support Can share a custom view of your model with inve

2. Easy Setup
Users love the easy setup of Parallel, allowing quick decision-making and scenario testing for their business needs.
See 3 mentions

See Related User Reviews

Caleb H.
CH

Caleb H.

Small-Business (50 or fewer emp.)

4.5/5

"We use Parallel to make smart bets instead of budgets"

What do you like about Parallel?

Early stage venture-backed companies don't need to make budgets, they need to make smart bets. Instead of GAAP financials, Parallel gives us 'deci

TM

Tyler M.

5.0/5

"Clarity and Ease with Parallel's Financial Modeling"

What do you like about Parallel?

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.

3. Forecasting
Users value the accurate forecasting capabilities of Parallel, which enhance decision-making confidence and strategic planning.
See 3 mentions

See Related User Reviews

Chase M.
CM

Chase M.

Small-Business (50 or fewer emp.)

5.0/5

"Changed how we run our business"

What do you like about Parallel?

Before using Parallel, we made alot of decisions in our business off of "feeling" or what our customers said that day. Since using Parallel, we've mad

Jonathan G.
JG

Jonathan G.

Small-Business (50 or fewer emp.)

5.0/5

"I made my most important decisions as a founder with Parallel open on a screen."

What do you like about Parallel?

Parallel allows me to understand how much time I have to hit specific milestones before I have to raise again.

4. Customer Support
Users find the customer support great, facilitating easy communication and enhancing their experience with the product.
See 2 mentions

See Related User Reviews

Stephanie G.
SG

Stephanie G.

Small-Business (50 or fewer emp.)

4.0/5

"Amazing for scenario building when fundraising and hiring"

What do you like about Parallel?

Customer service is great and it is a great tool to manage forecasting and impacts on your business when building scenarios and hiring plans.

Cory M.
CM

Cory M.

Small-Business (50 or fewer emp.)

5.0/5

"Great for startup projections and runway"

What do you like about Parallel?

Quick setup Easy to run different scenarios of your business model Easy to contact customer support Can share a custom view of your model with inve

5. Insights
Users love the decisionmaking financials of Parallel, enabling confident, data-driven choices for business growth.
See 2 mentions

See Related User Reviews

Caleb H.
CH

Caleb H.

Small-Business (50 or fewer emp.)

4.5/5

"We use Parallel to make smart bets instead of budgets"

What do you like about Parallel?

Early stage venture-backed companies don't need to make budgets, they need to make smart bets. Instead of GAAP financials, Parallel gives us 'deci

Chase M.
CM

Chase M.

Small-Business (50 or fewer emp.)

5.0/5

"Changed how we run our business"

What do you like about Parallel?

Before using Parallel, we made alot of decisions in our business off of "feeling" or what our customers said that day. Since using Parallel, we've mad

6. Customization
Users value the customization options of Parallel, allowing easy sharing and scenario management for business models.
See 1 mentions

See Related User Reviews

Cory M.
CM

Cory M.

Small-Business (50 or fewer emp.)

5.0/5

"Great for startup projections and runway"

What do you like about Parallel?

Quick setup Easy to run different scenarios of your business model Easy to contact customer support Can share a custom view of your model with inve

7. Dashboards
Users find the Dashboards in Parallel time-saving, providing clear insights into finances and simplifying decision-making.
See 1 mentions

See Related User Reviews

Verified User
U

Verified User

Small-Business (50 or fewer emp.)

5.0/5

"Game changing for startup finance"

What do you like about Parallel?

It's turned hours (and hours) or excel modeling into a few minutes of work every month. I know exactly what my burn is, how a new bet will impact that

Top Cons or Disadvantages of Parallel

1. Software Bugs
Users note occasional software bugs with Parallel, especially early on, but recent updates have improved stability.
See 2 mentions

See Related User Reviews

Stephanie G.
SG

Stephanie G.

Small-Business (50 or fewer emp.)

4.0/5

"Amazing for scenario building when fundraising and hiring"

What do you dislike about Parallel?

As all companies experience, there is the occasional bug.

Chase M.
CM

Chase M.

Small-Business (50 or fewer emp.)

5.0/5

"Changed how we run our business"

What do you dislike about Parallel?

I was one of the earlier customers of Parallel, so I had some bugs in the beginning, but haven't had issues in the last six months.

2. Download Issues
Users report download issues with financial views, but the team is responsive to feedback and improvements.
See 1 mentions

See Related User Reviews

Verified User
A

Verified User

Mid-Market (51-1000 emp.)

5.0/5

"Quick intuitive FPA"

What do you dislike about Parallel?

My biggest issue was not being able to export a view of the financials that included actuals and the forecast. However, i provided that feedback and t

3. Missing Features
Users desire more features in Parallel to enhance its functionality as a comprehensive accounting system.
See 1 mentions

See Related User Reviews

TM

Tyler M.

5.0/5

"Clarity and Ease with Parallel's Financial Modeling"

What do you dislike about Parallel?

I wish Parallel had more features to function as a complete accounting system in the future.

4. Steep Learning Curve
Users note a steep learning curve in migrating from manual spreadsheets to Parallel, requiring significant time investment.
See 1 mentions

See Related User Reviews

Cory M.
CM

Cory M.

Small-Business (50 or fewer emp.)

5.0/5

"Great for startup projections and runway"

What do you dislike about Parallel?

It's built as a tool to fully replace my manual spreadsheet - which can be a good thing, but has taken some time to migrate off of my sheet

Parallel Reviews (22)

Reviews

Parallel Reviews (22)

4.9
22 reviews
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G2 reviews are authentic and verified.
TM
"Clarity and Ease with Parallel's Financial Modeling"
What do you like best about Parallel?

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.

What do you dislike about Parallel?

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

Roshan K.
RK
Founder & CEo
Small-Business (50 or fewer emp.)
"Board ready in days!"
What do you like best about Parallel?

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.

What do you dislike about Parallel?

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

Cory M.
CM
CEO
Small-Business (50 or fewer emp.)
"Easiest Scenario Modeling Experience"
What do you like best about Parallel?

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.

What do you dislike about Parallel?

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.

Danny O.
DO
Founder & CEO
Small-Business (50 or fewer emp.)
"Fast Onboarding with Instant Scenario Modeling"
What do you like best about Parallel?

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.

What do you dislike about Parallel?

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.

Brice D.
BD
Founder & CEO
Small-Business (50 or fewer emp.)
"Best for founder-led finance"
What do you like best about Parallel?

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.

What do you dislike about Parallel?

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.

Ahmed E.
AE
Co-founder & CEO
Small-Business (50 or fewer emp.)
"Amazing product that gave me a vision for my finances as an early stage startup"
What do you like best about Parallel?

We are a small team, early stage and don't have an accountant in-house who will prepare dynamic reports for cashflow and budgeting, Parallel does that, I can confidently predict the next months and mitigate any risks. In addition to it's ease of use, amazing support from the team and they keep on top of the quality. Review collected by and hosted on G2.com.

What do you dislike about Parallel?

I would want to see more features that recommend personalized actions to be taken based on my financials but I believe they are working on that. Review collected by and hosted on G2.com.

HG
Chief of Staff
Mid-Market (51-1000 emp.)
"Very intuitive- Even with no finance background"
What do you like best about Parallel?

Set up took 30 minutes.. we connected to puzzle, created the expenses, pulled our headcount and we had all the data we needed to run scenarios... Our CSM jumps on calls, and shares tips before I ask. Parallel replaced my monster spreadsheets and stress. Review collected by and hosted on G2.com.

What do you dislike about Parallel?

No CRM integration yet but I know they’re working on it. Review collected by and hosted on G2.com.

Riley O.
RO
Chief Sales Officer
Small-Business (50 or fewer emp.)
"Parallel provides so much more clarity"
What do you like best about Parallel?

I've been living in spreadsheets trying to forecast and spreadsheets can only get you so far. Parallel solves that problem and more. The analytics are very clean and I can clearly see where we are heading as a business. Review collected by and hosted on G2.com.

What do you dislike about Parallel?

There is not anything specific I dislike, this is lightyears ahead of my old spreadsheets. Review collected by and hosted on G2.com.

Garrett F.
GF
CTO
Small-Business (50 or fewer emp.)
"Excellent product"
What do you like best about Parallel?

Parallel really helped us to dial in our model for raising. What would've taken us weeks in spreadsheets was made extremely easy with Parallel's tools, and it gave us something that we felt confident giving to investors. It's an awesome product! Review collected by and hosted on G2.com.

What do you dislike about Parallel?

There are a few features that would be nice to have, but completely understandable that they don't have them given their stage of business. Review collected by and hosted on G2.com.

James P.
JP
COO, Co-Founder
Small-Business (50 or fewer emp.)
"FP&A at the Speed we Need!"
What do you like best about Parallel?

I'm finally able to interact with my data in an intelligent real time way straight out of quickbooks with ease. Customer support and hands on CEO is awesome. Was super easy to integrate into our tech stack. Review collected by and hosted on G2.com.

What do you dislike about Parallel?

New software always has a learning curve but getting better each day. Review collected by and hosted on G2.com.

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