By David Appel, Sage Intacct
Our software community is facing uncertain times from the COVID-19 pandemic. So, we created a virtual Sage Intacct Modern SaaS Finance Summit to help you navigate cash management, churn, expenses, and forecasting. For our first session on April 2, we gathered a panel of experts to discuss how they are staying ahead of the curve in this rapidly changing business environment caused by the Coronavirus. You can access all content from the summit here.
- Mike Etheridge, VP Finance, Arena Solutions, a SaaS provider of Product Lifecycle Management solutions
- Vinny Prajka, Partner at JMI Equity, Growth Equity investor in leading Software Companies, including Arena Solutions
- Stuart Langer, Director of Product Management, Sage Intacct
Our panelists shared these four tips for forecasting billings, cash, and revenue.
Tip 1: It is all about forecasting cash, churn, and expenses right now
Forecasting helps bring about rapid change in your organization—it’s the toolset you need to make the right changes to help manage and grow the business. Mike Etheridge, VP of Finance at Arena Solutions, recommends that you “put in place a tool and set cadence with budget owners to create visibility and accountability into strategic plans for where to invest to grow the business.” Given the rapid change and economic certainty that we’re all experiencing today, you’re likely adjusting your business to this “new normal.” Plans may be shifting to survival instead of growth for the moment. Either way, visibility and accountability are even more important.