Estiaan Schoombie, Finance Manager at Cue Technology
Company: Cue Technology
Industry: Software as a Service
Location: UK and South Africa
Before ScaleXP:
Deferred revenue was tracked in long, tedious spreadsheets
SaaS metric tracking was complex; data could not be easily shared
Finance team worked long hours, struggling with added stress during fundraisings
With ScaleXP:
Finance team saves 3 – 5 days per month
All SaaS metrics are consolidated moments after the month end close and shared in online dashboards
Finance has time and capacity to improve business outcomes, rather than just compiling data
Before ScaleXP
Finance team at Cue was on a hamster wheel. They would work long hours each month end, tracking invoices in long and complex revenue recognition spreadsheets. Data required hours of checking, across the UK and South African subsidiary. SaaS metrics were virtually impossible to compile and share.
Benefits Delivered by ScaleXP
Estiaan explains, “ScaleXP has allowed us to save between 3 and 5 days a month… There were a few platforms we looked at that are similar to ScaleXP, but they lacked some features and customisation, or came in at a much higher price point. I could not be happier with ScaleXP.
Revenue Recognition Automation
Estiaan was particularly keen to highlight how useful ScaleXP’s revenue recognition capabilities are. As a SaaS company, most of their revenue follows a predictable monthly pattern. However, some of their legacy offerings are a bit more varied and are unsuited to a one-size-fits-all approach. ScaleXP’s sophisticated natural language algorithms read and process all data and text on invoices, meaning that despite these variations in invoice duration, amounts and products, revenue recognition schedules are a breeze to prepare.
Automating SaaS Metrics
Since starting with ScaleXP, Estiaan has been impressed by the customisable nature of the 30+ SaaS metrics available. This has been helpful for when senior stakeholders in the wider business need accurate, up-to-date information, but also for potential new investment.
“Being able to rely on the information that we’ve got in ScaleXP speeds up the impact on the wider business. It’s allowed me to provide our directors and potential investors with real-time information on our SaaS metrics which makes discussion and understanding of where we are, and where we’re headed as a company much easier.”
