If you’re the CFO of a subscription billing company, you want to bring clarity to decisions, understand where to invest, and track cash-flow and SaaS metrics, in the chaos of dynamic, competitive markets. The best CFO’s balance out this equation by giving their departments clarity and direction with SaaS metrics and role-based financial dashboards.
It’s a common saying that if you don’t know where you’re going, any road will get you there. But in the SaaS world, if you don’t know where you’re going, you won’t go anywhere because you’ll never generate any traction.
Key performance indicators (KPI’s) and financial dashboards will help pave the way to your success. KPI’s give you a real-time snapshot of your business’s performance at different points: monthly, quarterly, annually, etc.
They also allow you to analyse your revenue and cash flow patterns, identify where you’re wasting money, and more.
Financial dashboards are just as important. They give every person on your team a customised one-page view of all the financial information they need. With modern software tools, you can say goodbye to the headache of hunting down five different manual folders to gather data for an upcoming board presentation.
But before we get deeper into dashboards, let’s break down the major KPI’s and look at why they matter so much.
Tracking KPI’s is one of the most critical essential responsibilities of any CFO and the broader finance team behind them. Identifying and charting your most valuable SaaS metrics enables your entire company to understand its position in the broader marketplace.
KPI’s offer insight into where you’re succeeding, so you can double down on those strategies. And just as significantly, they raise red flags about what’s failing, so you can alter or abandon bad ideas.
Some of the most important metrics for you to watch and report on include your:
Keep your SaaS metrics at the top of your hierarchy of business values. Treat them like your guiding lights in the rough seas of a competitive market because that’s precisely what they are.
Financial dashboards are an incredible organisational tool for finance teams. They help every member of your team stay organised by condensing all the information that a particular person needs into one convenient screen.
These single-glance screens are known as role-based dashboards in the SaaS community. They allow your team to accomplish more in less time by eliminating manual accounting processes and reliance on outdated spreadsheet-based tech.
With financial dashboards from SaaS accounting automation solutions, all it takes is a single glance for different members of your team:
If you’re sensing a common theme between SaaS metrics and financial dashboards, you’re right on the money. It’s all about staying organised and the quantum leap in results you can access by analysing where you are, and where you’d like to go.
Investing in the power of automation is one of the greatest gifts any CFO can give their finance team and their broader company.
The organisation, clarity, and heightened effectiveness that accompany an investment in high-quality accounting software speak for themselves.
The Akuna Solutions Team