As companies scale, especially in this SaaS-dominated economy, management teams will sooner or later be confronted with a build vs buy decision. All companies large or small, tend towards wanting to control everything they can. Compounding this natural inclination, if something is painful but “working,” they push making hard choices down the road. It's difficult to uncover what an organization is best suited to own fully, and what is worthy to hand off to external partners.
In the last episode, we covered everything you’d want to know about Monthly Recurring Revenue. In this episode, we dive into methods to identify and recover lost revenue. It’s not as hard as finding the Lost Ark in Indiana Jones and the Raiders of the Lost Ark, but as the viewer found out in the Last Crusade, one must choose their method “wisely.”
In this episode of Pain in the GAAP, we dive into MRR, or monthly recurring revenue — a metric critical to SaaS businesses that can be a little tricky if you deal with real customers and not just spreadsheets.
We talk about how MRR is a useful metric for businesses to understand their future prospects as well as provide a business’ board and investors information to determine valuations.
The first 24 months of a startup lay the foundation for its future success. Young companies redesign the wheel, disrupt an industry, or identify a way to plan an ICO to raise funds off cyrpto-tailwinds. These grand plans don’t need to be bogged down by also reinventing business operations and controls.
Prior to my time at Ordway, I built a checklist of controls, used with my companies, that I feel every startup needs to accomplish during their first two years of operation.
It was straightforward to do revenue calculations when we had 5 customers.
Growing companies oftentimes build manual processes by utilizing Microsoft Excel or Google sheets spreadsheets because it is the easiest, most affordable process to implement at the time.
WASHINGTON, DC — June 20, 2018 — Ordway, a billing and revenue automation platform for growing companies, today announced that Lerer Hippeau, Founder Collective, Middleland Capital, and Revolution’s Rise of the Rest Seed Fund are investing $2.5 million in the company to scale its operations. Led by Sameer Gulati, a SaaS veteran at the epicenter of billing and ERP systems’ evolution for the past 18 years, Ordway is transforming how organizations can more efficiently handle billing for their most complex customers.