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New integration with Xero brings B2B SaaS businesses support for GAAP/IFRS-compliant revenue recognition and the metrics and analytics needed for growth
ATLANTA, Jan. 23, 2020 /PRNewswire/ — SaaSOptics, the only subscription management platform designed for emerging and growing B2B SaaS and subscription-based businesses, announced today its integration with cloud-based accounting platform Xero. The integration allows B2B SaaS businesses to seamlessly use SaaSOptics alongside Xero to mature their financial operations, manage the entire order-to-cash and renewal process, and gain the metrics, analytics and reporting needed to get funded, stay funded and grow. This news comes on the heels of SaaSOptics’ $12 million Series B announcement, an investment that validates the company’s industry-leading solution and will fuel its product development to meet increased market demand for automated financial operations at scale.
As SaaS businesses grow, the need for sophisticated metrics and analytics, GAAP/IFRS-compliant revenue recognition and deferred revenue management often leads to supplementing accounting software with spreadsheets. Eventually, this process breaks down as overreliance on spreadsheets leads to errors, tedious reporting and a lack of reliable analytics. Through its integration with Xero, SaaSOptics fills this gap, giving SaaS businesses freedom from spreadsheets and a trusted platform for automating their financial operations with:
- GAAP/IFRS-compliant revenue recognition
- Efficient invoice scheduling and highly customizable e-invoicing
- Flexible and efficient accounts receivables and collections management
- Milestone-based revenue and invoice management
- Out-of-the-box SaaS metrics and analytics
- Automatic application of a payment to multiple invoices
- The ability to sync important records and reconcile Stripe payments to Xero
“B2B SaaS businesses using Xero can now take advantage of SaaSOptics’ award-winning subscription management platform with a seamless experience,” said Tim McCormick, CEO of SaaSOptics. “We look forward to our customers, current and future, being able to further automate their financial processes and deliver a greater level of efficiency, control and insight to their business. This is another great step forward for our team, our customers and Xero users.”
SaaSOptics’ latest integration with Xero joins the ranks of its other 10+ best-in-class integrations including QuickBooks Online & Desktop, NetSuite and Intacct. SaaS businesses can realize workflow efficiencies and automation of subscription revenue recognition, regardless of their preferred general ledger. For more information about the Xero integration visit SaaSOptics.
About SaaSOptics
SaaSOptics is a subscription management platform that automates financial operations for growing B2B SaaS businesses. A cloud-based solution, the SaaSOptics platform allows businesses to pull accurate SaaS metrics and analytics quickly, scale billing and payments smoothly and automate GAAP/IFRS-compliant revenue recognition. Businesses built on SaaSOptics eliminate their risky dependency on spreadsheets and streamline financial operations. SaaSOptics is easy to use, trusted by investors, within reach for early-stage startups and provides a streamlined implementation process. SaaSOptics serves more than 650 customers worldwide and manages $6 billion in revenue.
Media Contact:
Jenn Pratt
Carabiner Communications
404.655.2273
jpratt@carabinercomms.com