With automation from AcctTwo’s SaaS Intelligence, Quest Analytics can now trust their data and easily see actionable insights that Excel wasn’t showing them to support their recent shift to a business model more akin to a Software as a Service company. Their team now has data-driven conversations at the executive and department level about subscription finance metrics, such as Customer Acquisition Cost and Customer Lifetime Value, and decide confidently where they need to focus their efforts to drive more growth.
Helping people across America receive the information and care they deserve is what Quest Analytics does best. They are a technology company dedicated to improving healthcare provider network management. Their Provider Network Management platform brings transparency, trust, and confidence in the process of monitoring, measuring, and managing provider networks. Quest Analytics partners with both healthcare organizations and providers to address two significant issues facing the healthcare industry today: accurate provider directories and accessible networks.
While moving more of its products and services to the cloud, it became clear that Quest Analytics should be measuring itself against subscription business model metrics and evaluating its business as a Software-as-a-Service company. The first major step in that direction was upgrading their financials from QuickBooks and spreadsheets; and the company chose Sage Intacct over NetSuite for that job. The best solution for the organization was Sage Intacct’s contract management capabilities, subscription billing, and its native integration with Salesforce.
Originally, Quest Analytics looked at Sage Intacct’s Digital Board Book application as a SaaS and subscription metrics tracking solution but ultimately decided on SaaS Intelligence from AcctTwo to provide the KPIs that matter most in an automated way. AcctTwo’s SaaS Intelligence is built on the Sage Intacct development platform, so it is native to Sage Intacct, so it automatically categorizes transactions in real-time using a sophisticated intelligence engine, providing metrics that are insightful, reliable, and automatic.
We asked Sam Robertson, Corporate Controller at Quest Analytics, about how AcctTwo was able to help his company transition and transform.
“The company has been in business since 2003 and had historically been a desktop software provider,” Robertson says. “As we moved more of our solutions to the cloud, we knew we needed to think in terms of more complex multi-year, multi-element contracts, and that managing those contracts with QuickBooks and spreadsheets wasn’t going to work long term.” Robertson knew they needed an ERP system, Sage Intacct, that could manage their revenue recognition requirements and increasingly complex billing, while also automating the tracking of crucial SaaS KPIs for the organization – for this, he turned to SaaS Intelligence.
The implementation was straightforward according to Robertson. Chris Price, AcctTwo’s Head of SaaS Vertical, and the product team, helped Robertson understand exactly how the metrics were being calculated. “The AcctTwo team was super responsive and always provided me with a lot of detail whenever I had questions,” Robertson says. “The product works exactly as it was sold to us.”
Spreadsheets Aren’t Intelligent
“Spreadsheets aren’t systems,” he says, explaining that it’s too easy to make mistakes, judgement calls, and manual interventions when you are using spreadsheets, making it difficult to trust the data and even more difficult to surface insights about your business.
“When you keep everything in Excel and split your data by year, it can make trailing twelve-month analysis difficult and it’s less likely that you’ll discover actionable insights and trends,” says Robertson. “With AcctTwo’s SaaS Intelligence, we can do that kind of analysis easily.”
AcctTwo’s SaaS Intelligence provides an accurate representation of customer subscription activity and the impact on ARR or CMRR by automatically identifying different SaaS metric scenarios. The intelligent engine of the application can tell the difference between factors driving changes in CMRR, removing the need for additional analysis of transactions or manual intervention, giving the finance teams a single source of truth.
Processing Data Gaps and Uncovering Insights
According to Robertson, SaaS Intelligence became a check on previous policies to make sure KPIs are being calculated properly. “We found ourselves often saying ‘What does the spreadsheet say?’ and then ‘But what does SaaS Intelligence say?’ and that process has taught us a lot about our assumptions and our policies around SaaS metrics,” says Robertson. “It gives you the flexibility to look at things differently, to challenge your assumptions, and to look at true KPIs. It spurs conversations we didn’t use to have around things like Customer Acquisition Cost (CAC) and Customer Lifetime Value (CLTV).”
Reshaping Finance and Accounting
SaaS Intelligence is helping Robertson communicate key metrics and have these conversations at the executive team level.
“Going in front of the Executive Team to present these metrics is spurring conversations about where to focus our efforts,” says Robertson. “Having these insights that are actionable and strategic come out of the finance department is really cool,” he adds.
Simplify the Complexity
Let AcctTwo help you get a deep understanding of your financial growth metrics so you can present them in a confident, concise way. If your spreadsheets and manual processes aren’t getting you what you need, it’s time to consider automating your SaaS dashboards and key SaaS metrics with AcctTwo SaaS Intelligence. Please download our White Paper, “How the Right B2B SaaS & Subscription Metrics Tools Accelerate Growth & Attract Investors” to find out the roadmap to achieve automated SaaS metrics.
Please contact AcctTwo with questions or for guidance about how AcctTwo can help propel the growth of your SaaS or subscription business. If you're ready to leave Excel behind and clearly see your subscription and CMRR growth drivers, use this button to find a time to talk to us about getting started.