Q&A with Marcel Petitpas, Co-founder and CEO at Parakeeto



Marcel Petitpas, Co-founder and CEO at Parakeeto,  is specialized in helping agencies to get a handle on their gains along with being a respected keynote/virtual speaker and podcaster. You can expect to see more from him over the coming weeks, as he shares important insights for agency owners who want to earn more while working less.

Our marketing should add more value to the world than our product ever does. Our focus is on being genuinely helpful with the content we create and being specific about the problems we can help them solve.



MEDIA 7: Could you please take us through your professional journey?
MARCEL PETITPAS:
I started my “real” career working for Apple as an Account Manager. From there, I went on to attempt to start several businesses and like most entrepreneurs had mixed results and mostly a lot of failures. I started an agency doing virtual reality services for real estate agents, experimented with several SaaS ideas, spent a year of my life as a professional speaker traveling around North America delivering keynotes, and eventually co-founded Parakeeto with the help of a few investors including Dan Martell and Jarod Ferguson.


M7: How does Parakeeto help digital and creative agencies to accurately scope projects quickly?
MP:
As a product, Parakeeto helps agencies use real data about past projects to create more realistic estimates for future projects. It also helps them easily model financials on top of those estimates to ensure they are setting themselves up for profitability. As a consultancy, we also help agencies with many of the challenges they face around their operations and data. From designing the right dashboards and metrics, complete with tailor-made benchmarks and targets for their agency to evaluating the data schemas and tooling that makes the business run and generates insight. We also educate and advise agencies on how to measure, interpret and act on the feedback they get from their data and reporting, in order to build a more scalable and profitable business. At the core of everything is our Agency Profitability Flywheel framework. It is our thesis on how to build profitable and scalable operations into the DNA of any professional services business.


One of the biggest challenges for any professional services business is being able to have forward-visibility and getting actual insights from all their operations data.



M7: How does The Agency Profit podcast by Parakeeto help digital agencies make better operational decisions?
MP:
When we started the podcast, we were filling a need we had ourselves. We found that there were a ton of experts in the industry talking about how to get clients, but not enough talking about what to do after you get clients in order to actually turn a profit. It was hard to find clear information about the benchmarks and KPIs that should be used to run an agency. Very few people got into the details and nuances of how those things should be measured, benchmarked, calculated, etc. We decided to create a podcast focused exclusively on those topics. Today, we have thousands of listeners all over the world, tuning in to learn how to master the art of operating and scaling a professional services business.


M7: What are some of the biggest challenges in the industry today and how does Parakeeto help their clients overcome them?
MP:
One of the biggest challenges for any professional services business is being able to have forward-visibility and getting actual insights from all their operations data. Planning for the future is hard because it requires them to be able to make accurate projections about their client work, and connect that to their financial and resourcing plans. In order to do that, they need great systems for estimating client work, backed by historical data. They also need well-organized and consistent data across their operations tooling (project management, time tracking, finance, etc.) that allows them to answer their most important questions about profitability and capacity. Unfortunately, most agencies struggle with inconsistent data, poor inputs from their teams, different schemas across their tools, and many other issues that make answering simple questions burdensome and sometimes impossible. We’re out to solve this problem and help any agency improve their visibility and data cleanliness regardless of what tools and systems they’re using.


Planning for the future is hard because it requires them to be able to make accurate projections about their client work, and connect that to their financial and resourcing plans.



M7: What are some of the features offered by Parakeeto that help your clients build accurate estimates for their projects?
MP:
Our product helps you do three important things:

-   Import data
-   Bring data from your operational tools into one place

-   Clean and Normalize Data
-   Parakeeto helps you clean and normalize data quickly and easily without changing the way your team uses their tools, and without affecting source data - this makes it easier to compare past projects to one another and get an insight about your agency.

-   Get Insights
-   While today our product focuses on estimation, we’re working on many other applications for clean operations data, like historical analysis, forecasting, real-time monitoring and alerting, and more.


M7: What is your marketing mantra to stand out in an overly saturated MarTech space?
MP:
Our marketing should add more value to the world than our product ever does. Our focus is on being genuinely helpful with the content we create and being specific about the problems we can help them solve.

ABOUT PARAKEETO

Parakeeto is an agency profitability platform that combines software and consulting to help agencies measure their most important metrics and make the right decisions to improve their scalability and profitability.

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And this can only happen with simplicity at the core,” said Raj Verma, CEO, SingleStore. “This isn’t just a product update, it’s a quantum leap… SingleStore is offering truly transformative capabilities in a single platform for customers to build all kinds of real-time applications, AI or otherwise.” “At Adobe, we aim to change the world through digital experiences,” said Matt Newman, Principal Data Architect, Adobe. “SingleStore’s latest release is exciting as it pushes what is possible when it comes to database technology, real-time analytics and building modern applications that support AI workloads. We’re looking forward to these new features as more and more of our customers are seeking ways to take full advantage of generative Al capabilities.” Key new features launched include: Indexed vector search. SingleStore has announced support for vector search using Approximate Nearest Neighbor (ANN) vector indexing algorithms, leading to 800-1,000x faster vector search performance than precise methods (KNN). With both full-text and indexed vector search capabilities, SingleStore offers developers true hybrid search that takes advantage of the full power of SQL for queries, joins, filters and aggregations. These capabilities firmly place SingleStore above vector-only databases that require niche query languages and are not designed to meet enterprise security and resiliency needs. Free shared tier. SingleStore has announced a new cloud-based Free Shared Tier that’s designed for startups and developers to quickly bring their ideas to life — without the need to commit to a paid plan. On-demand compute service for GPUs and CPUs. SingleStore announces a compute service that works alongside SingleStore’s native Notebooks to let developers spin up GPUs and CPUs to run database-adjacent workloads including data preparation, ETL, third-party native application frameworks, etc. This capability brings compute to algorithms, rather than the other way around, enabling developers to build highly performant AI applications safely and securely using SingleStore — without unnecessary data movement. New CDC capabilities for data ingest and egress. To ease the burden and costs of moving data in and out of SingleStore, SingleStore is adding native capabilities for real-time Change Data Capture (CDC) in for MongoDB®, MySQL and ingestion from Apache Iceberg without requiring other third party CDC tools. SingleStore will also support CDC out capabilities that ease migrations and enable the use of SingleStore as a source for other applications and databases like data warehouses and lakehouses. SingleStore Kai™. Now generally available, and ready for both analytical and transactional processing for apps originally built on MongoDB. Announced in public preview in early 2023, SingleStore Kai is an API to deliver over 100x faster analytics on MongoDB® with no query changes or data transformations required. Today, SingleStore Kai supports BSON data format natively, has improved transactional performance, increased performance for arrays and offers industry-leading compatibility with MongoDB query language. Projections: To further advance as the world’s fastest HTAP database, SingleStore has added Projections. Projections allow developers to greatly speed up range filters and group by operations by introducing secondary sort and shard keys. Query performance improvements range from 2-3x or more, depending on the size of the table. With this latest release, SingleStore becomes the industry’s first and only real-time data platform designed for all applications, analytics and AI. SingleStore supports high-throughput ingest performance, ACID transactions and low-latency analytics; and structured, semi-structured (JSON, BSON, text) and unstructured data (vector embeddings of audio, video, images, PDFs, etc.). Finally, SingleStore’s data platform is designed not just with developers in mind, but also ML engineers, data engineers and data scientists. “Our new features and capabilities advance SingleStore’s mission of offering a real-time data platform for the next wave of gen AI and data applications,” said Nadeem Asghar, SVP, Product Management + Strategy at SingleStore. “New features, including vector search, Projections, Apache Iceberg, Scheduled Notebooks, autoscaling, GPU compute services, SingleStore Kai™, and the Free Shared Tier allow startups — as well as global enterprises — to quickly build and scale enterprise-grade real-time AI applications. We make data integration with third-party databases easy with both CDC in and CDC out support.” "Although generative AI, LLM, and vector search capabilities are early stage, they promise to deliver a richer data experience with translytical architecture," states the 2023 report, “Translytical Architecture 2.0 Evolves To Support Distributed, Multimodel, And AI Capabilities,” authored by Noel Yuhanna, Vice President and Principal Analyst at Forrester Research. "Generative AI and LLM can help democratize data through natural language query (NLQ), offering a ChatGPT-like interface. Also, vector storage and index can be leveraged to perform similarity searches to support data intelligence." SingleStore has been on a fast track leading innovation around generative AI. The company’s product evolution has been accompanied by high-momentum growth in customers and surpassing $100M in ARR late last year. SingleStore also recently ranked #2 in the emerging category of vector databases, and was recognized by TrustRadius as a top vector database in 2023. Finally, SingleStore was a winner of InfoWorld’s Technology of the year in the database category. To learn more about SingleStore visit here. About SingleStore SingleStore empowers the world’s leading organizations to build and scale modern applications using the only database that allows you to transact, analyze and contextualize data in real time. With streaming data ingestion, support for both transactions and analytics, horizontal scalability and hybrid vector search capabilities, SingleStore helps deliver 10-100x better performance at 1/3 the costs compared to legacy architectures. Hundreds of customers worldwide — including Fortune 500 companies and global data leaders — use SingleStore to power real-time applications and analytics. Learn more at singlestore.com. Follow us @SingleStoreDB on Twitter or visit www.singlestore.com.

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