HONEST Review of Pigment (Better Than a Sales Demo)

Summary

In this video, the speaker reviews Pigment, a planning platform used by companies like Airtable and Figma. The platform connects and visualizes data, streamlines forecasting, and supports collaborative workflows. Despite its powerful features, including scenario planning and data integration, Pigment's complexity makes it more suitable for larger businesses with mature data processes. The implementation process is lengthy and requires significant time and resources to master. Smaller companies or startups may find Excel or Google Sheets more fitting due to their flexibility and lower learning curve. Overall, Pigment is ideal for companies with advanced planning needs.

Takeaways

• 😀 Pigment is a planning platform used by companies like Airtable, Brax, and Figma to help businesses create forecasts and track progress toward their goals.
• 😀 Planning platforms like Pigment aim to solve the limitations of Excel and spreadsheets, particularly as companies scale and data becomes more complex.
• 😀 Pigment allows businesses to consolidate data from various systems into a single source of truth, making the forecasting and planning process more automated and less error-prone.
• 😀 Pigment supports two main ways of importing data: via native connectors to other systems or through CSV uploads, though the latter is more manual.
• 😀 The platform uses an OLAP database, which allows businesses to analyze data across multiple dimensions and slice it as needed, but setting up this structure requires careful planning.
• 😀 Pigment's user interface is centered around dashboards, allowing users to view data, apply filters, and interact with visualizations without needing multiple workbooks or spreadsheets.
• 😀 Pigment enables users to model and forecast future scenarios with formulas, though writing formulas can be complex and requires careful setup, including defining data structures and dimensions.
• 😀 Scenario planning in Pigment allows teams to create different forecasts and compare their impacts on business outcomes. However, the scenario feature is still evolving and requires setup for comparison.
• 😀 Pigment’s workflow and collaboration features streamline business processes like employee headcount management and vendor approval, with integration into systems like payroll and HR.
• 😀 The standard implementation for Pigment takes around 12 weeks but can vary based on company complexity. However, learning the platform and becoming self-sufficient may take longer than expected, especially for technical teams.
• 😀 Pigment is best suited for larger companies with more complex processes and data. Smaller companies (with fewer than 200 employees) may find it less suitable due to its complexity and required resources.

Q & A

What is Pigment, and what problem does it aim to solve?

Pigment is a planning platform designed to help businesses with forecasting, budgeting, and performance management. It addresses the limitations of Excel and spreadsheets, especially for growing companies, by automating data integration from different systems and providing a central source of truth for better analysis and planning.

What are the two main ways to connect data to Pigment?

The two main ways to connect data to Pigment are through native pre-built connectors or via CSV uploads. The pre-built connectors are quick to set up and automate the process, while CSV uploads allow users to bring in data from any system that can export data in CSV format.

What are the limitations of the native connectors in Pigment?

Pigment currently has only 18 native connectors available, which means it may not support every system out-of-the-box. For unsupported systems, users can rely on the CSV upload method, but this process is more manual.

How does Pigment help in visualizing data and making decisions?

Pigment enables users to create customizable dashboards where they can visualize data through various charts and tables. These dashboards allow users to interact with data, apply filters, and share cross-sections of data with specific teams, improving collaboration and decision-making.

What makes Pigment's workflow and collaboration features unique?

Pigment’s workflow and collaboration features allow teams to manage processes like hiring, approval requests, and scenario planning. It integrates directly with systems like payroll and HR, automating many aspects of the workflow and enabling easier collaboration and approval tracking.

What is the significance of Pigment's OLAP database?

The OLAP (Online Analytical Processing) database in Pigment enables the storage and querying of large, multi-dimensional data sets. This structure allows for complex analysis, enabling users to slice and dice data across various dimensions for deeper insights.

How does modeling work in Pigment compared to Excel?

Modeling in Pigment differs from Excel as it requires defining data structures and dimensions upfront. Unlike Excel, Pigment does not use cell references in formulas; instead, users reference objects and their dimensions. The system also enforces consistency in data structures before calculations can be performed.

How does Pigment handle scenario planning and comparison?

Pigment allows users to create scenarios by duplicating the base model, changing inputs, and comparing the impacts of different strategies. Scenarios can be compared side-by-side using pre-built charts and tables, making it easier to assess the effects of various options.

What are the challenges of implementing Pigment?

Pigment’s implementation process is complex and can take up to 12 weeks, depending on the company’s needs. The process involves a significant amount of time from the team, including setting up data structures, learning the platform, and integrating with other systems. After the initial implementation, ongoing adjustments and customizations are often needed.

Why might Pigment not be suitable for small companies or startups?

Pigment might not be suitable for small companies or startups because it requires significant resources to implement and maintain. Smaller companies with fewer than 200 employees might not have the technical expertise or time to fully leverage Pigment's features, making simpler tools like Excel or Google Sheets a more natural fit.