With the huge popularity of software-as-a-service (SaaS), a growing number of companies are selling their software on a subscription basis. They face challenges in measuring and predicting revenue and other factors. Cloud business intelligence provider Birst hopes to address this challenge with its new Recurring Revenue Solution Accelerator, which it says offers fast, accurate and meaningful BI and data analysis capabilities for businesses offering SaaS, ongoing maintenance contracts and other subscription-based products and services.
The new solution automatically captures data from NetSuite, Salesforce.com and other information systems within organizations, then analyzes it against pre-configured industry-standard key performance indicators (KPIs) like product sales and renewal status to give businesses a view of current and historical performance. This enables them to proactively spot patterns and trends with rich visualizations, customizable data dashboards and automated reports.
"As a rapidly growing SaaS company, we well understand the key metrics that CEOs and CFOs require to measure the success of their organizations. The Recurring Revenue Solution Accelerator gives other SaaS companies that insight; they can simply turn on Birst, connect to cloud ERP and CRM applications and instantly get a dashboard with their organization’s Magic Number, churn, customer acquisition cost (CAC) and bookings growth," said Brad Peters, CEO and co-founder of Birst.
The Birst Solution Accelerator for Recurring Revenue extracts live and historical data from NetSuite and Salesforce.com, using pre-configured Extract, Transform and Load (ETL) scripts and star-schemas alongside built-in operational metrics and attributes, to analyze and add contextual meaning to the data. A library of pre-built visualizations, dashboards and reports display the data in an easy-to-digest format and give users the ability to customize parameters, attributes and metrics to their specific business.