When Gidi Fisher joined QA test automation company Testim in 2018 as Director of Finance & Operations, he had a tall task at hand: untangle the complicated jumble of spreadsheets where his predecessors had managed financial operations and position Testim for long-term FinOps scalability.
Upon joining Testim, Fisher’s first task was to research subscription management platforms to help automate basic financial operations. At the time, the term subscription management understandably sounded vague and buzz-y, but Fisher soon learned that subscription management platforms could entail a lot more than just simple invoicing and collections.
When Fisher first discovered SaaSOptics, he found the array of capabilities a little overwhelming at first glance. Here was a solution that could automate rev rec, generate SaaS metrics and GAAP/IFRS compliant financials, manage AR, and integrate with other mission-critical systems, like CRMs and GLs? It almost seemed like too much.
What Fisher quickly realized though, was that Testim’s B2B model required specific, B2B capabilities that only SaaSOptics could offer, so he decided to give it another shot.
Today, Fisher primarily uses SaaSOptics to generate billing schedules, track overdue invoices, and automate Testim’s month-end close process, but he is actively transitioning more of his workflow to SaaSOptics.
“I consider myself a pretty technical finance person. I have a background in computer science, so it was refreshing to work with people who could answer technical questions for me during the sales cycle.”
Fisher had been burned in the past trying to work with companies that didn’t have the breadth of accounting expertise needed to get properly up and running on a subscription management platform. Working with SaaSOptics was so easy, in fact, that Fisher was able to get fully implemented within a few short weeks working hand-in-hand with a SaaSOptics implementation consultant.
Speed of implementation was a core purchasing criterion for Fisher in choosing a vendor to partner with. Testim leverages an external bookkeeper for more day-to-day accounting tasks.
“I didn’t even ask the external accountant to get on a call once,” explained Fisher of the implementation process.
For Fisher, the biggest value drivers for SaaSOptics are the time saved by automating month-end close processes and the ability to recover “lost ARR,” or invoices that were never sent due to clunky billing schedules managed in spreadsheets. For Testim, recovering just one lost invoice paid for their SaaSOptics subscription.
Another important capability Fisher highlighted in our chat is SaaSOptics’ ability to integrate with multiple ledgers. Testim operates primarily in San Francisco, but has an office in Tel Aviv, Israel as well. The ability for SaaSOptics to integrate with multiple ledgers is crucial.
Having recently closed a Series B, Testim certainly has an eye turned toward the future. In fact, an important capability when searching for a subscription management platform was the ability to integrate with both Xero and a larger future-planned ERP, like Netsuite. Thankfully, Fisher found the best of both worlds with SaaSOptics: a purpose-built subscription management platform that’s designed to scale alongside you as your business grows.
To learn more about how SaaSOptics can help automate your financial operations, talk to an expert today.
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