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How to Keep Billing Simple and Reporting Current Amid Complex Revenue Recognition Requirements

SaaS company CFOs have their work cut out for them:  accommodating varied and flexible subscriptions; executing the billing process accurately and on time; responding to the reporting needs of the CEO and internal clients; and operating according to revenue recognition standards.

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Simplicity for the Customer

Regardless of how complex it is to manage subscriptions behind the scenes, SaaS companies strive to keep subscriptions and billing as simple as possible for their customers. 

Since the beginning of commerce, billing customers is a sensitive process.  Concise, accurate, and understandable bills are necessary to an ideal customer experience.  You do not want confusion over a bill to delay payment. 

 

Maintaining the Pace Necessary for Achieving Strategic Goals

SaaS CFOs have internal customers that they need to keep happy.  Throughout the C-suite, decisions abound regarding new software development, new markets to explore, or maintaining consistent, profitable growth to attract desired funding.  The right decisions require:

  • Accuracy of information
  • Speed of information
  • Clear metrics and forecasting

 

Technology is Required to Deliver Insight into your SaaS Business

Manual processes regularly result in delays and inaccuracies.  Managing by spreadsheet is a recipe for disaster in the fast-paced SaaS world.  That’s why Cordia Partners relies on and recommends Intacct solutions for financial accounting, revenue recognition, and contract management. 

We believe (and see the evidence daily) that AICPA-endorsed Intacct is the best solution for meeting the needs of a SaaS company.  But what do CFOs of SaaS companies think about Intacct?  Click here to watch a video of SaaS company leaders sharing how Intacct has improved their invoicing, contract, and financial management.