Panda Doc

Disclosure: We are a student owned and operated review site that receives compensation from the companies whose products we review. We have researched products online and give high marks based on this research to only the very best. We are independently owned and the opinions expressed here are our own.

PandaDoc’s platform for business plans helps companies create, manage, and present their business proposals, financial projections, and strategic documentation. It stands out in the market by providing both dynamic document creation and e-signature capabilities, allowing teams to streamline not just proposals but full-fledged business plans. Here’s an in-depth look at PandaDoc’s business planning capabilities, with a breakdown of features, pricing, and comparisons.

Pricing
PandaDoc offers a range of pricing tiers that can fit various needs, from startups to enterprises:

1. Essentials Plan: Priced at $19 per user per month when billed annually, this plan includes the core document creation and customization features necessary for basic business plan documents, such as templates and document tracking
2. Business Plan: At $49 per user per month (billed annually), this plan provides advanced features, including CRM integrations, custom branding, and approval workflows. These are particularly useful for teams collaborating on business plans and pitching investors
3. Enterprise Plan: Custom pricing is available for large businesses or those with specialized requirements, offering the full range of features, including API access and more extensive integration options

Key Features for Business Planning

• Template Library for Proposals and Plans: PandaDoc offers a selection of templates that can be tailored for business plans, strategic proposals, and investment pitches. These templates include fields for financial data, revenue projections, and key performance indicators (KPIs)
• Collaboration and Approval Workflows: Multiple team members can collaborate on a business plan, with commenting options and structured approval workflows that ensure only finalized content is shared externally
• Dynamic Content and Fields: Users can add interactive elements, such as video embeds and live pricing tables, making business plans more engaging and easy to update without extensive redesigns
• Analytics and Document Tracking: Real-time tracking of document views, time spent on each section, and interaction points help teams understand potential investors’ or stakeholders’ interest and engagement
• E-signature Capability: Built-in e-signature support allows for quick approvals, whether from team members or external stakeholders
• Integrations with CRM and Financial Tools: PandaDoc integrates with popular CRMs like Salesforce and HubSpot, as well as financial tools, providing easy import of customer data and financials directly into business plan documents

Pros

• User-Friendly Interface: The drag-and-drop editor and template library simplify business plan creation, even for users without extensive design experience
• Time-Saving Templates: Templates and custom fields save time, especially for repeat documents like quarterly financial updates or updated business strategies
• Real-Time Collaboration and Approvals: Teams working on a business plan can easily assign sections, comment, and finalize the plan, avoiding back-and-forth email chains
• Insightful Analytics: Document tracking provides insights on where stakeholders focus most, which can help shape future iterations of a business plan
• E-signature Integration: For teams pitching investors, the ability to secure immediate signatures within the business plan document is a valuable feature

Cons

• Higher Pricing for Full Feature Set: While the Essentials plan is cost-effective, the advanced features that fully support business plan needs (analytics, branding, and approvals) are available only on higher-tier plans, making it costly for small startups
• Limited Customization in Templates: Some users report that PandaDoc’s templates are challenging to customize to the specific look and feel of their brand, which might limit branding flexibility in a business plan
• Learning Curve with Advanced Features: New users may find it takes time to explore and master PandaDoc’s more complex functionalities, such as interactive fields and API integrations

Comparison with Competitors for Business Plan Needs
1. LivePlan

• Pricing: $20/month (monthly) or $15/month (annual billing)
• Features: Strong focus on business planning, financial forecasting, and strategy
• Pros: Simplifies financial projections with built-in formulas, making it ideal for financial-heavy business plans
• Cons: Less customization and flexibility for interactive or design-driven documents compared to PandaDoc

2. Proposify

• Pricing: Starts at $19/user per month
• Features: Provides document creation with CRM integration and analytics, but with more emphasis on sales proposals than business plans
• Pros: Known for great sales proposal templates and analytics
• Cons: Limited for detailed financial forecasting and strategic documentation

3. Qwilr

• Pricing: Starts at $75 per month.
• Features: Offers interactive, web-based documents with an emphasis on design
• Pros: Strong visual and interactive document customization, good for visually compelling business plans
• Cons: Higher cost and lacks detailed financial planning tools

Conclusion
Who Should Use PandaDoc for Business Plans? PandaDoc is a solid option for teams that need to streamline the business plan creation process, especially those frequently collaborating on documents or updating investors. With analytics, real-time collaboration, and CRM integration, it’s ideal for growth-focused companies looking to enhance their proposals’ interactivity and engagement.

Consider Alternatives If: If your primary need is financial forecasting or if you require a lower-cost, single-user tool, consider LivePlan or Qwilr. Likewise, for startups prioritizing budget over collaboration features, a more streamlined tool like Proposify may suffice.

PandaDoc’s blend of document automation, interactive features, and robust analytics makes it a comprehensive choice for business plans aimed at engaging investors and facilitating team collaboration.

Disclosure: We are a student owned and operated review site that receives compensation from the companies whose products we review. We have researched products online and give high marks based on this research to only the very best. We are independently owned and the opinions expressed here are our own.