As companies transition to a world built on software, the pressure to move quickly is high —but so is the desire to maintain control. LaunchDarkly gives businesses the ability to move at the speed of every deploy so that developers can build, marketing can launch, product can iterate and sales can sell. We recently sat down with the senior director of finance administration for LaunchDarkly, Tim Keohane, to learn more about how the company automated its financial operations with SaaSOptics.
How were LaunchDarkly’s finances managed prior to SaaSOptics?
Before SaaSOptics, we didn’t have the ability to recognize revenue in accordance with Generally Accepted Accounting Principles (GAAP). Annual Recurring Revenue (ARR) was the only revenue statistic we tracked, so there was an opportunity to automate our financial operations and gain access to GAAP financials and metrics that would help grow the business.
What led you to SaaSOptics?
I used SaaSOptics at a previous company. I knew it was what exactly what we needed and didn’t look at other options because I knew SaaSOptics could handle our transaction volume.
How has SaaSOptics changed the way you manage LaunchDarkly’s finances and secure funding?
With SaaSOptics, I’m able to run the entire finance department as a one-person shop. The automation provided by SaaSOptics is incredibly helpful. When I showed our CEO and founder, who does most of our investor relations and laid the groundwork for our Series C, the cohort and retention reports in SaaSOptics, she was thrilled. The reports have become a standard part of our story for investors and showing our success with product, retention and continued upsell.
What have you gotten out of SaaSOptics that you couldn’t have gotten from managing your financial operations using spreadsheets?
SaaSOptics gave us the ability to do so many things we couldn’t do before. We have close to 900 customers with both monthly and annual billing terms. I don’t want to contemplate trying to manage those subscriptions and invoicing with spreadsheets. Given our growth and the customer base we have today, I don’t know that I would ever want to go back to spreadsheets.