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Parallel description
Parallel is a financial tool designed for young companies. It helps you understand important financial aspects of your business such as your company's spending, income, and how long you can operate before needing more funding. This software simplifies financial planning by removing the need for complicated spreadsheets.
Who is Parallel best for
Parallel simplifies financial planning for young, venture-backed companies. It helps track spending, income, and runway without complex spreadsheets. This tool is ideal for small to medium-sized businesses, especially in the tech industry looking to understand their financial health.
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Ideal for small businesses (1-100 employees), a good fit for medium businesses (101-1000 employees).
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Well-suited for venture-backed companies, particularly in the technology sector.
Parallel alternatives
Octopus AIBetter fit for founders without financial backgrounds. Has website traffic growth momentum and caters to a wider range of industries including software companies. Offers reporting and dashboard features. A Parallel competitor and alternative.Read more
Pro-FormaMore focused on securing funding and investor relations. Geared towards startups seeking investment, a Parallel alternative.Read more
MAUS HubBetter for achieving business goals, including exit planning. Caters to mid-sized companies. Integrates with accounting software.Read more
PowerExcelBetter for larger enterprises and integrates with tools like SAP. A strong PowerExcel alternative for startups seeking simpler financial planning.Read more
FinmapBetter for established SMBs and freelancers needing cash flow management features like bank integration, multicurrency support, and automated reporting. A Parallel competitor and alternative, Finmap has less momentum.Read more
Parallel FAQ
What is Parallel and what does Parallel do?
Parallel is financial software designed for startups to understand their finances, including spending, income, and runway. It simplifies financial planning, eliminating complex spreadsheets, and is ideal for young, venture-backed tech companies.
How does Parallel integrate with other tools?
There is no information available regarding Parallel's integrations with other tools. However, it's designed to simplify financial planning for young, venture-backed companies, particularly in the technology sector.
What the main competitors of Parallel?
Top Parallel competitors include Octopus AI, Pro-Forma, and MAUS Hub. These alternatives offer similar financial planning and analysis tools for startups and small to medium-sized businesses. They focus on simplifying financial management, forecasting, and investor relations.
Is Parallel legit?
Parallel appears to be a legitimate financial tool for startups, judging by its website traffic growth and employee growth. It helps young companies understand their finances and plan for the future, removing the need for complex spreadsheets.
How much does Parallel cost?
I couldn't find pricing details for Parallel. For the most current pricing information, it's best to check their official website or contact their sales team.
Is Parallel customer service good?
Parallel's customer service is described as "incredible" at filling the gaps while the software is still under development. Users appreciate the support they receive from the success team, even though the AI component of the product is still being improved.
Reviewed by
Michal has worked at startups for many years and writes about topics relating to software selection and IT management. As a former consultant for Bain, a business advisory company, he also knows how to understand needs of any business and find solutions to its problems.
Tymon is a seasoned CTO who loves finding the perfect tools for any task. He recently headed up the tech department at Batmaid, a well-known Swiss company, where he managed about 60 software purchases, including CX, HR, Payroll, Marketing automation and various developer tools.