TruePlan Brings Data to Workforce and Company Hiring Plans

0

Hear from CIOs, CTOs, and other senior executives and leaders on data and AI strategies at the Future of Work Summit on January 12, 2022. Learn more


TruePlan, a so-called “workforce management” platform that helps businesses plan and forecast all the budgeting and resource needs of their entire workforce, officially launched to the public today. The company also announced a $ 17 million Series A financing round led by General Catalyst.

The term “workforce,” at least for TruePlan purposes, refers to a company’s current employees, approved hires, and any roles it is currently hiring for. Users connect TruePlan to their Human Resources Information System (HRIS) of their choice (for example, BambooHR, Gusto, or Zenefits) to generate real-time feeds of all their current teams and associated costs, and then to Integrate with Applicant Tracking Systems (ATS) (eg Workable, Greenhouse or Lever) to leverage data regarding a company’s hiring efforts.

“TruePlan plays a distinct role in bringing this information together to create an accurate workforce forecast ranging from active employees to ideas for future teams,” TruePlan co-founder and CEO Dan Green told VentureBeat.

In doing so, TruePlan becomes what it calls a “single source of truth” for all of a company’s current and (potential) future workforce, avoiding the need to manually reconcile countless spreadsheets. calculation, documents and Slack emails or threads to understand their current and future workforce outlook. . This type of data can be useful in determining budgets and which roles or departments take priority over others.

“As a leader or executive, the workforce will represent on average 70% of your operating expenses. In a world that is changing as rapidly as the past few years, your visibility and control over this process can determine the success or failure of your business, ”Green explained.

Above: a flowchart in TruePlan

Land rental

Founded in 2020, TruePlan launched its beta product in March ahead of today’s official launch, and while Green was not given the freedom to disclose specific customer names, it noted that the ultimate target customers are high growth companies with more than 200 employees.

“TruePlan is currently working in industries ranging from manufacturing to SaaS with some of the fastest growing companies in the world,” Green added.

It should be noted that TruePlan serves different purposes for different departments. Finance teams, for example, can use TruePlan to track headcount spending and adjust their broader financial forecasts for the year, while recruiting can use TruePlan to glean information on currently approved hires to determine capacity. to respond to requests for new hires.

“Finance, HR, hiring, and service managers all need the same precise workforce information to fulfill their very different roles,” Green said. “Today’s fragmented world of spreadsheets leads to different sets of data across all of these areas that often conflict with each other, leading to a constant flow of alignment meetings. Many executives we work with ranked workforce management as the area of ​​the business over which they thought they had the least visibility and control, for these reasons. TruePlan’s platform solves these problems once and for all.

Alongside lead investor General Catalyst, Series A of TruePlan saw participation from Defy Partners and Peter Thiel’s Founders Fund, as well as numerous angel investors, including Flexport co-founder and CEO Ryan Petersen.

VentureBeat

VentureBeat’s mission is to be a digital public place for technical decision-makers to learn about transformative technology and conduct transactions. Our site provides essential information on data technologies and strategies to guide you in managing your organizations. We invite you to become a member of our community, to access:

  • up-to-date information on the topics that interest you
  • our newsletters
  • Closed thought leader content and discounted access to our popular events, such as Transform 2021: Learn more
  • networking features, and more

Become a member

Share.

Comments are closed.