How to Become a Smarter and More Efficient SaaS CFO
Everything about the SaaS industry moves quickly. As CFO, it may not be your job to fast-track new product updates or drive new subscription revenue — but you need to be agile too. As your company grows, the manual processes and high-touch workflows you could get away with at the beginning start to impinge on your ability to scale financial operations. To both support and contribute to your company’s growth, you must spend less time working in the business and more time working on the business — and technology can help.
Sage Intacct has a few ideas on how to help you become an even smarter and more efficient SaaS CFO. Download the infographic, How to Become a Smarter and More Efficient SaaS CFO, and read on for the highlights.
Remove manual processes and automate to scale
Manual processes don’t scale well. Rather than hire more employees to support your growth, incorporate the tools that allow you to automate workflows and scale efficiently.
Take the leap from orders to subscriptions
The world is moving toward a subscription economy, and you can move with it with an application that elegantly handles contracts, upgrades, and more.
Eliminate data silos
Turning sales into cash quickly is challenging when invoicing data is held in multiple disparate applications. Look for an integrated application that unites your workflows for rapid-fire processing.
Revenue recognition and ASC 606 compliance can be challenging — and burdensome. An application that streamlines and automates rev rec tasks will allow you to focus more time on strategy and less on compliance.
Demonstrate your success
As your organization looks toward its next steps — perhaps a new round of funding or even an IPO — you’ll want quick, reliable access to the metrics that matter in the form of dashboard KPIs and shareable (audit-worthy) reports.
Modern SaaS companies need modern, high-impact CFOs — just like you. Your SaaS company also needs a modern, complete finance tech stack to grow on. Sage Intacct is an ideal financial management solution for software companies — from seed to IPO and everything in between. Check out the How to Become a Smarter and More Efficient SaaS CFO infographic for more tips and reach out to a member of our Sage Intacct consulting team with your questions.