According to reports, SaaS sales have skyrocketed this year. In fact, this rapid growth caught many executives by surprise. When software companies are equipped with the right accounting solution, it’s a lot easier to capitalize on growth and get ahead of the competition.
An innovative accounting solution, like Accounting Seed, can support your business by providing real-time data when split-second decisions need to be made. Don’t let an opportunity pass your company by. Invest in a secure, cloud-based accounting solution today.
SaaS Sales Team Benefits with Accounting Seed
For starters, here are the revenue channels for a SaaS business:
- Direct sales representatives (either field sales representatives or telesales)
- Value-Added Resellers/Integrator Referral Partners
- Application marketplaces of complementary SaaS solutions
- Self-service customers who proactively subscribe for your paid or freemium services
Accounting Seed lets SaaS sales teams keep track of these revenue streams while also creating campaigns to generate leads. But that’s not all. Our collaborative features also help teams nurture the leads through the sales funnel all in the same instant. Consequently, all of this takes careful financial reporting, planning, and analysis. An effective accounting solution can really make an impact with these processes for any SaaS business. Accounting Seed provides a full complement of financial reports and let’s you develop custom reports to really drill down into data that is particularly relevant to your business.
Additionally, SaaS sales teams can utilize Accounting Seed to:
- Track revenue streams across various channels
- Research pricing and value-added service offerings
- Define commissions for direct/partner sales and referral fees
- Report on sales funnel metrics, such as numbers of days from lead capture to sales
- Establish discounts on a promotional, volume, and/or contract pre-pay basis
- Track subscription renewals and add-on services for configuration, training, and premium support
SaaS Sales Teams with Salesforce
To establish a successful SaaS business, communication between your marketing, sales, and customer support teams is critical.
A typical business cycle looks something like this. Marketing, operations, and customer service teams all provide insights about which revenue channels are performing best. Support and customer service communicate what they are learning from existing customers. Sales members provide insight into the prospects they are speaking with. But, SaaS businesses have a different set of key objectives that need to be top of mind for SaaS operations:
- Profitability – Influenced by Monthly or Annual Recurring Revenue (MRR/ARR)
- Cash – Known as the Customer Acquisition Cost (CAC) and is a vital metric in determining Profitability. CAC should be less than twelve months. A customer’s Long Term Value (LTV) should be greater than three times the CAC for startup SaaS companies. (For startups, customer acquisition is costly from a marketing and sales resource perspective, as revenue is paid back in monthly increments through subscription payments.)
- Growth – Revenue, market, and share growth, and market awareness/coverage growth are all important.
- Market share – Capturing a significant portion of a SaaS domain is also important.
Rest assured, your SaaS sales team will feel supported when they utilize a cloud-based accounting solution that provides one single source of truth. Our application provides metrics that can track all of this data, and more.
Specific Reporting for SaaS Sales
With Accounting Seed, a SaaS Sales team can be measured and reported on by the following:
Focus on retention, renewals, and subscription utilization
Monitor customer support escalations and other customer satisfaction anomalies
Establish programs such as Customer Success Management and customer reference programs
Define the highest performing routes to market, and manage budget allocation for each
In order to be successful, we know a SaaS business needs to focus on acquiring new customers and retaining them. Financial reporting with Accounting Seed eases the burden of this never-ending cycle. Also, it splits the responsibility not just between marketing and sales but also customer success, support, and finance.
Why SaaS Sales Teams Choose Accounting Seed
No matter if your SaaS business is a mature, successful corporation or just a start-up, your SaaS sales team can benefit from Accounting Seed. When SaaS companies choose a robust accounting solution, their growth issues and financial reporting woes are immediately squashed. Our customers are ready for growth and our platform is ready to grow with them.
See Accounting Seed in action
Get a close-up view of how accounting on Salesforce can eliminate the need for costly integrations—and silos of mismatched information—by sharing the same database as your CRM.