2017 0413 webinar_financial_reporting
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Real-Time Financial Reporting for Software Companies
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2017 0413 webinar_financial_reporting
- 1. Real-Time Financial Reporting FOR SOFTWARE COMPANIES
- 2. 2 Preferred Provider Business Solutions Topics • Why real-time visibility is critical for high-growth companies • Regulatory changes impacting financial reporting • 4 steps to achieving real-time visibility • Demonstration of Intacct’s visibility capabilities • Summary and additional resources
- 3. 3 Preferred Provider Business Solutions 3 Burning Questions for CFOs, Regardless of Stage Public Growth Early Stage Seed Stage Company Stage Time
- 4. 4 Preferred Provider Business Solutions 3 Burning Questions for CFOs, Regardless of Stage Public Growth Early Stage Seed Stage Company Stage Time How do I grow revenues and get to the next stage?
- 5. 5 Preferred Provider Business Solutions 3 Burning Questions for CFOs, Regardless of Stage Public Growth Early Stage Seed Stage Company Stage Time How do I grow revenues and get to the next stage? How do I make my financial future predictable?
- 6. 6 Preferred Provider Business Solutions 3 Burning Questions for CFOs, Regardless of Stage Public Growth Early Stage Seed Stage Company Stage Time How do I grow revenues and get to the next stage? How do I make my financial future predictable? How do I keep my financials GAAP-compliant?
- 7. 7 Preferred Provider Business Solutions ASC 606: The Most Significant Change in Decades …and pressing The changes are sweeping… Significant management judgment on accounting for revenue recognition will now be required, and the changes will have pervasive impacts on people, policies, processes and systems. - “New Rules Impact Financial Statements and Reporting,” PwC ”“ The time necessary to achieve a successful implementation should not be underestimated. - James Schnurr, Staff Accountant, SEC ”“
- 8. 8 Preferred Provider Business Solutions ASC 606 Summary • Replaces all industry specific guidance • No more VSOE for software companies • 5 step principle-based process Changing Guidelines: • New rules increase amount of judgement • Need for systematic approach to performance obligations Impact on Internal Controls: • Periods on or after December 15, 2017 (public) and 2018 (private) • Applied retrospective or as cumulative catch up Effective Dates:
- 9. 9 Preferred Provider Business Solutions ASC 606: Changing Guidelines Accounting Similarities • Expense amortization • Revenue amortization • Revenue reallocation Accounting Differences • No more recognizing revenue on cash receipt • Focus on single customer contract • More frequent reallocation • More frequent expense deferral All active contracts must be stated under existing recognition guidelines until transition, then under new guidelines after transition.
- 10. 10 Preferred Provider Business Solutions 2017 2018 2019 Effective Dates for Companies 12/15/2018 private Proposed Guidance—Annual Periods
- 11. 11 Preferred Provider Business Solutions 2017 2018 2019 Effective Dates for Companies 12/15/2018 private Proposed Guidance—Annual Periods 12/15/2017 public
- 12. 12 Preferred Provider Business Solutions 2017 2018 2019 Effective Dates: Current Contracts Are Impacted 12/15/2018 private Proposed Guidance—Annual Periods 12/15/2017 public Subscription Term Dual Reporting (Private)
- 13. 13 Preferred Provider Business Solutions 4 Steps to Achieving Real-time Visibility Monitor the fundamentals3 Automate processes to capture data1 Think beyond financial metrics2 Dig deeper to flag opportunities, risks4 !
- 14. 14 Preferred Provider Business Solutions A Automate Processes to Capture Data Public Growth Early Stage Seed Stage Company Stage Time Financial Reporting Rev Rec SAAS Metrics Compliance Payroll Order Entry Billing Quote to Cash A/P, A/R CRM Expenses PSA Closing FP&A XRBL Reporting Customer Success 1
- 15. 15 Preferred Provider Business Solutions Public Companies Growth Stage Companies Early Stage Companies Super Early Stage Companies CompanyStage Metric Complexity Segment & Exploratory Analysis Market Penetration Deferred Revenue YoY, MoM Customer Growth Forecasted Sales & Quota Cohort Analysis Up-sell, Cross-sell LTV.CAC Ratio Avg. Revenue per Account Customer Lifetime Value Up-front Invoicing Customer Count Customer Acquisition Cost Gross Churn Monthly & Annual Recurring Revenue BookingsWebsite visits, Leads, & Conversions Customer EngagementQualitative Feedback Net Churn Think Beyond Financial Metrics2
- 16. 16 Preferred Provider Business Solutions Monitor the Fundamentals Snapshot of key financial and operational data is the first step Revenue Analysis Customer Analysis Key Metrics Deferred Revenue 3
- 17. 17 Preferred Provider Business Solutions Dig Deeper and Flag Opportunities, Risks Uncover the true drivers of your business to fuel growth Churn by Subscriber Count “ ”− David Skok Matrix Partners An incremental 2% increase in retention leads to a 20% higher (valuation) multiple. Net Change CMRR by Channel Churn and Margin by Product 4
- 18. 18 Preferred Provider Business Solutions Revenue Visibility Imagine a world where you can see… Revenue transactions, automated and setup (once) at invoice processing Deferred revenue reconciliation by customer Dual reporting: current and new guidelines (ASC 606, IFRS 15) Recognized revenue by customer
- 19. 19 Preferred Provider Business Solutions Global View Imagine a world where you can see… In-depth global visibility for all your entities Interim period consolidations at any time and ability to change Multiple consolidation books
- 20. 20 Preferred Provider Business Solutions Operational View Imagine a world where you can see… Role specific dashboards for KPI monitoring Operational and financial information reported from your financial system Understand what’s driving your financial and operational performance
- 21. 21 Preferred Provider Business Solutions Interested in Learning More? • Try Intacct with a free 30-day trial http://www.intacct.com/trial • Attend an upcoming webinar http://www.intacct.com/webinars • Follow us on Twitter @intacct • Connect with us on Facebook http://www.facebook.com/Intacct • Contact us directly info@intacct.com | 877-437-7765
- 22. Thank you! info@intacct.com | www.intacct.com | 877-437-7765
- 23. 23 Preferred Provider Business Solutions Key Terms • nonprofit accounting software • cloud erp • finance software • cloud erp software • cloud financial software • saas accounting software • erp accounting • financial software • cloud erp solutions • online accounting • cloud financials • cloud erp systems • saas metrics • cloud-based erp solutions • simply accounting • saas financial software • asc 606 • online erp software • best financial software • best-in-class erp • online finance software • erp accounting software • business financial software • subscription billing • ifrs 15 software • erp software • financial management software • cloud accounting software