Upgrading your financial modeling software helps your SaaS enterprise make more informed decisions about income, cash flow, revenue, risk management, and various financial outcomes.
The best way to do this is to create scenario-based forecasts that predict SaaS finances. Baremetrics has developed an in-depth guide to demonstrate how to put financial models into action.
This guide explains how you can incorporate operations, forecasts, reports, and data exports (actuals) into your new SaaS model. It’s well worth a read.
The best financial modeling software can help you to replicate the revolutionary SaaS financial model in the above article. Many subscription businesses still rely on Microsoft Excel for forecasting, but you’ll benefit from one of the more advanced tools below.
Given below is a list that will let you know the details and purpose of each financial modeling solution.
To create a valuable SaaS financial model, you need data about subscriptions and customers. Baremetrics is a SaaS analytics platform that generates unrivaled subscription intelligence and beautiful data visualizations that provide key information for your financial models.
You can enter data manually or export data from a billing system or Microsoft Excel. Baremetrics even has a google sheets add-on that pulls data from your Baremetrics platform directly into Google sheets!
Read more: 7 Best SaaS Billing Systems.
Once up and running, Baremetrics provides accurate analytics about key performance indicators such as Monthly Recurring Revenue so you can track active customers, upgrades, cancelations, and downgrades from one system and use these insights for your financial models.
Here are some benefits of using Baremetrics for modeling:
Baremetrics is the best financial modeling software for 2023. It helps you track cash flow, subscription revenue, lost revenue, and other financials. Check out our pricing page to find a model that works for you.
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Recommended reading: Customer Support for SaaS: How To Do It Right.
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Oracle BI is a business intelligence platform that turns financials into valuable data sets for analytics. Use this tool to create financial models that predict the future commercial success of your subscription business. Here are some other features of Oracle:
Quantrix provides one-click financial forecasting so you can prepare your subscription business for the future. Track KPIs and identify scenarios that could put your enterprise at risk. You can also use this financial modeling software for demand planning and general business intelligence. Here are some other features of Quantrix Modeler:
Operis is a forecasting platform that builds successful SaaS financial models that influence future budgets and operations. The financial modeling software boasts features such as formula optimization, mapping, workbook comparison, and even debt modeling.
Hyperion is another forecasting platform that replaces spreadsheets. It comes with a flexible modeling system for insights into pricing and financial statements. Other features include hybrid data models, workflow capabilities, and Microsoft Office integration.
Business Objects has innovative financial planning capabilities that help SaaS companies prepare for the future. With reliable modelers, templates, and add-ins, Business Objects helps you manage your balance sheet.
IBM Cognos is an AI-based financial modeling platform with drag-and-drop capabilities for greater functionality. You can create models for risk management and scenario analysis and share data insights with stakeholders and team members.
Recommended reading:Price Optimization in SaaS: Customer Retention.
The Best Financial Modeling Software for SaaS in 2023
Creating a new SaaS financial model based on forecasts, instead of just looking at actuals, will provide you the tools you need to improve revenue, profit, cash flow, and your entire bottom line.
But first, you’ll need reliable modeling software that pulls financial data into a separate system for evaluation and real-time metrics. The software above serves this purpose, providing you with lucrative resources for more accurate forecast-based models.
Baremetrics is the No.1 modeling tool for SaaS companies that want to gauge their financial futures. It helps in forecasting data trends such as churn, cancelations, and downgrades from one centralized hub and power subscription intelligence in your enterprise.
This SaaS analytics program takes your financial data and generates insights about subscriptions, customers, cancelations, downgrades, upgrades, and revenue for better decision-making in your enterprise.
With multiple integrations, custom reports, and an easy-to-use API, you can track subscription-based KPIs in minutes. Global SaaS businesses use Baremetrics for financial modeling.
This subscription-centered software transforms financials into valuable data insights for budgeting, cash flow management, profitability, and growth.
Start your free 14-day Baremetrics trial.