Everywhere you look, eCommerce is booming—loudly. 64 cents of every dollar spent in retail stores are now influenced by digital interactions. Yet, for all the growth—and all the tools available to retailers and brands for managing the digital shelf—there are precious few ways to generate the strategic insights that drive decisive, successful actions.
Founded in 2012, Profitero is filling that gap as a provider of real- time eCommerce analytics and the only SaaS provider that will capture and analyze both a brand’s sales and share of sales in its Amazon category, all in one platform.
For years, Profitero’s financial operations were managed with spreadsheets and accounting software. As is the case with many SaaS businesses, spreadsheets had become a fill-the-gap financial tool that the company eventually would outgrow. When Erik Lepke joined Profitero as vice president of Finance in 2017, Profitero was beginning to feel the pains and the need for something more. “When I joined, we were around $6 million in annual recurring revenue (ARR). The spreadsheets were still feasible, but I quickly realized they weren’t going to be sustainable as we continued to grow,” he said.
Tasked with managing the financial aspects of the growing business, Lepke began looking at enterprise resource planning (ERP) systems. “We were ready to go all in, and it was costly, but we figured it would be our last investment in a financial system,” Lepke said. “Thankfully, we discovered SaaSOptics instead.”