How can your financial planning firm use SaaS solutions?

Transcript: Hey guys my name is John founder/ceo Sandberg today I'm to talk a little bit about financial modeling for SAS companies it's going to be a very basic version but a lot of my friends in the industry have been asking me about how to build financial models so this is something that I've used to build sort of like the initial government structure of the financial model or sender and I'll hopefully you'll find this bubble so when we get started let me share and people will sheet so so you can see here let's start with financial model let's call it projection or than one this is gonna be in one take no edits last update being with this 15 Sunday I'm gonna start out with some assumptions salt the key values and those here I'm sure for my typos I do like to color code them as I build them so that I'm a little bit happy while making them so and here we'll have you know periods say um one we're going to do eerily cuz I'm you can of course use this to build orderly or whatever and then have a target AR here see... See more →

Transcript: One of the greatest things about startups is start up equity start up equity is one of the big reasons why taking a risk around a start-up or on an unproven idea is worth it it's also one of the greatest sources of true wealth creation even if you're not an entrepreneur however if you're a founder it can be really hard to actually figure out how to divvy up this equity not even just with early employees or investors but also your co-founders so in this episode I'm gonna walk you through the three principles you actually need to know to divvy up startup equity in the right way so that everyone gets an equitable amount of the upside intro everybody welcome to unstoppable I'm tkn on this channel I hope SAS Stara founders like you navigate the path to the next stage of growth navigate the path to product market fit a millionaire are and beyond so if you're new to our community welcome be sure to hit the subscribe button and that bell icon because I bring you an episode like this every Sunday Wednesday and Friday with the TK energy now if you're a startup founder... See more →

Transcript: Hi I'm Dan Martell serial entrepreneur investor and creator of SAS ketamine in this video I'm gonna share with you the five steps to running an incredible board meeting so that you don't have to feel overwhelmed nervous or feel like they're not gonna be productive at all and be sure to stay at the end where I'm going to share with you an exclusive video an interview a fireside chat really with Jason Cohen the co-founder of WP engine they just raised 250 million they're at a hundred million dollar annual reoccurring revenue after eight years trust me you don't want to miss that interview so maybe you've got your first board meeting coming or you've been running them and just don't feel like they're very productive or efficient trust me I know how you feel I've been running board meetings now for my past two venture-backed companies flowtown comm and Clare diaphragm I've even had the pleasure of inviting my little baby he's five now but when he was little he actually came to a couple of our early board meetings just to get him used to the environment of business and one of the things that we... See more →

Key quotes:

• "SaaS (software as a service), acts as a software delivery method configured by a third party that hosts multiple business applications on the cloud, like content management systems (CMS), customer relationship management (CRM) and human resource management services (HRM)."
• "Businesses require customers to grow, If your SaaS product is up and running you should look at getting customers for your business."
• "It is always a good idea to price your product carefully in order to be able to scale your business quickly, we have formulated a guide to help you work out your pricing strategy."
• "You should, therefore, make sure you design effective business performance models on top of the financial accounts and data that you work with your accountant to keep, having a SaaS Accountant that understands the industry can be quite useful when trying to monitor your business performance."
• "Our in-house SaaS specialists have curated a guide explaining in much more detail the various metrics for a SaaS business and how to measure them."

Key quotes:

• "Today’s finance leaders need to be equipped with a strong understanding of technology to enable them to scale their team and the rest of the organization."
• "A revolution is coming — one where innovative solutions will redefine not only the way finance teams will manage company financials, but their very roles within the organization."
• "Winner: Ramp (credit card) + Mercury (bank) Businesses need a way to make payments easily for goods and services (e.g."
• "Previously, finance teams leaned towards putting everything in invoices they managed manually, uploaded to their accounting software and manually sent payment files through their bank."
• "With VCC solutions like Ramp, finance teams can issue virtual cards with 1 click and pay vendors on the fly."
• "Today, leaders issue corporate cards (physical + virtual) via advanced spend management platforms like Ramp."

Key quotes:

• "Your accounting software could be perfectly fine, but if it lacks some of the features necessary for subscription businesses, your financial statements and decision making could suffer."
• "Without the proper setup of your chart of accounts, P&L, and revenue recognition, your financials cannot guide you through critical decision-making processes."
• "The first step is assessing the state of your current financial statements and accounting processes."
• "This might mean that your current accounting software is acceptable, but you require a revenue recognition “bolt on” solution."
• "Revenue Recognition Commission Amortization per ASC 606 / IFRS 15 Payment Integration Sales Tax Fixed Assets Travel and Expense CRM Integration Of course, there are many accounting software solutions out there."
• "When asked what’s the most fun with helping businesses with their accounting, David Appel, the head of the SaaS vertical at Sage states that, “helping finance grow their companies by giving them immediate visibility to make data-driven decisions on what investors want to see and freeing 80% of their time to use that visibility strategically.” It offers the following features."

Transcript: Everyone sim ovens here and today I have Nik Cosman on with us and Nick is one of our consulting accelerator customers he's also an uplevel consulting member as well and Nick's got an awesome story so he joined Consulting accelerator in January this year so he's pretty new in 2018 and at that point he was selling well he was helping our SAS businesses reach their first million dollars in sales by helping them with their sales funnels and inbound marketing and lead generation and all of that stuff but back then he was doing done-for-you and what I mean by that is he's actually in the trenches with them doing all of the work and actually like you know implementing everything for them and he was making around $20,000 a month and since then through the program he's been able to move from done-for-you to training programs we are now instead of doing the work for these SAS companies he's still helping them with the exact same thing but instead he's telling them what to do and then they're doing it themselves and by doing that he's been able to free up a lot of his time and... See more →

Key quotes:

• "Product The company’s main solution is called The Adaptive Insights Business Planning Cloud and enables companies to monitor, analyze, and report on financial and operational performance and more recently sales."
• "While the main use cases are for finance, the company calls out a few customers using the product in other ways including route profitability analysis by a major airline, marketing contract analysis by a large consumer goods manufacturer, and store level profitability by a restaurant chain."
• "Outputs of other financials and metrics are below; Historical P&L & Metrics (000's) Quarterly Subscription Revenue ($M) Implied Ending ARR ($M) Adaptive has added $28.9M of net new ARR over the past year and $8.4M in the last quarter."

Key quotes:

• "In the backdrop of constant technological innovation, wealth management companies are looking to speed up the transformation of their advisory platforms as well as enhance products and service offerings across client-advisor touchpoints."
• "They initially intended Hearsay to be used to help larger companies to promote their local branches via social media platform but ended up being described as a more general “social selling platform” InvestEdge is a leading technology partner that provides innovative advisor solutions to support asset consolidation and simplify complicated wealth management processes while reducing overall operational risk."
• "With this strategy, investors can smartly allocate assets to attain different investment targets that will change dynamically over time Orion Advisor Solutions provides a personalized financial management continuum, including best-in-class consulting technology and investment strategies, to help fiduciary consultants realize their unique vision for success."