By David Appel, Head of Software & SaaS at Sage Intacct
Companies are continually striving to improve their performance and it is important to know how you stack up to your peers. As FinOps takes a bigger role in charting the growth of a SaaS company, what are the benchmarks for what to do, and when? Sage Intacct, The SaaS CFO, and RevOps Squared conducted research throughout Summer 2021 to benchmark how recurring revenue companies managed the financial reporting process.
More than 250 companies participated across a wide spectrum of company sizes, annual contract values, industry segments and geographic locations. Participant profiles included C-Level executives, Senior Vice Presidents, Vice Presidents, and Director level roles. Further, the research covered a wide variety of financial process responsibilities and activities including reporting, financial close, performance metrics calculations, and their related resource utilization – primarily time based. Our goal was to identify process optimization to scale a company that you could leverage in building your people, processes, and technology.