SaaSOptics to offer financial analytics tool under open API
SaaSOptics, a subscription management platform for growing B2B SaaS and subscription-based businesses, plans to introduce SaaSOptics Open API for Analytics to support billing, financial and ERP systems.
Open API is a publicly available application programming interface that gives developers access to a proprietary software application.
With SaaSOptics Open API for Analytics, the company aims to give SaaS businesses access to financial views and visibility in real time. The goal is to link popular financial systems to the open API tool so SaaS businesses can begin leveraging SaaS reporting in executive and role-based dashboards for one, holistic view of the business.
Some capabilities the Analytics tool offers are a view of monthly and annual recurring revenue momentum, a view of the predicted value of any particular customer, churn and retention analysis and projections.
“Traditional financial systems are general purpose systems designed for management of GAAP financials, while most subscription billing systems were designed around invoicing,” said David Ryan, founder and COO of SaaSOptics, in a statement. “Neither of these produce mission critical, accurate subscription metrics around retention rates, churn and customer lifetime value. SaaS businesses need specialized data and calculations that don’t appear on an invoice nor in the income statement or balance sheet, but are critical to produce key subscription metrics. We generate this data from core financials and invoices, and have a wide range of fine-tuned, highly specialized subscription reports that produce all the information needed to make pricing and packaging decisions, and to communicate to boards and investors.”
SaaSOptics is using a one-question survey to learn which integrated financial or ERP solutions are most used by B2B SaaS businesses. The survey is open to any SaaS business.
SaaSOptics Open API for Analytics will be available in the second quarter of 2017. For more information, click here.