Get the information you need when you need it. Say goodbye to errors and boost your growth with Bluefort’s cutting-edge automation solutions. Learn how our end-to-end system streamlines product offerings and maximizes long-term customer value.
Forecasting in the Dark: Why Guesswork Doesn’t Work for SaaS CFOs
Ever walked alone through a creepy underground labyrinth while you were blindfolded?
If you’re trying to navigate analytics and financial forecasting without any clear data to power it, that’s essentially what you’re doing.
Maybe there’s a little less of a musty smell and fewer spiders dropping on you, but it’s still pretty close.
It’s no fun being in the dark if that’s not where you want to be. SaaS CFOs know this all too well. You might be drowning under tons of data, but it is often unclear, unreliable, siloed, or just plain wrong.
That means that it’s impossible for you to access the good analytics and forecasting needed for strategizing and good decision-making.
The problem of unclear data
In the SaaS landscape, data is the foundation for decision-making. Data analysis allows you as the CFO to spot opportunities, create strategies that will give you the edge over your competitors and future-proof your company.
But when your data is clouded, you can’t get the insights that you need to figure out where you are and where you should be going.
You’re in the labyrinth, too scared to feel what’s in front of you, because it’s going to be…gross.
Where does it come from?
Here are some of the main causes of unclear data. They’ll probably sound very familiar to you:
Manual revenue recognition: This is a recipe for disaster. Not only does it make your finance team want to run for the hills and join the circus, but it creates issues with the sales and ops teams, like invoicing, onboarding, and contract processing errors and delays. Then all the teams have unclear data which clouds your company’s overall financial picture.
Change-averse staff: We’re not pointing accusatory fingers here – we’re all human and resist change. It’s built into our nature. And teams that are resistant to newer, more cutting-edge ways of doing things can really throw a monkey wrench into your chances of success. Whether it’s fear of new tech or not understanding the benefits, teams can hold on to outdated, time-wasting processes and inaccurate data, even though it makes their lives harder. Poor data quality: When your data is incorrect thanks to manual data entry, or it’s outdated, or you’re your reconciliation and verification processes are lacking you can get into real trouble. You know that without the clear data you need, you’re stabbing in the dark.
Economic instability: Data can get pretty murky when everything’s in flux all the time. Things like market conditions, customer churn rates, product offerings and packages change on a dime. This makes it hard for you to figure out any clear patterns and trends in the data.
No benchmark data: Most companies feel a little tetchy about their own data, so of course they aren’t going to make it public knowledge. That means you have very little comparable data to give you the context you need to assess where your company is in terms of your competitors. How will you know where you do better and where you could do better?
The ripple effect
Unclear data doesn’t just make things murky. It has a real impact on your job. It triggers a domino effect of errors which means your forecasts can’t be accurate.
That means your analysis is built on shaky assumptions that can affect everything from budget allocation to investment to strategic planning.
It also robs you of your time because you and your teams are stuck constantly cleaning up the messes. No time for strategic decision-making. No time for high-value work. No time to strengthen the growth and adaptability of the entire company.
And at the end of the day, it’s your reputation on the line. You’re the one who has to walk into the boardroom with forecasts powered by murky data.
The bright light out of the labyrinth
You deserve to get out of the data maze with confidence. But what solves the problem of unclear data, so that you have good analysis and forecasts you can take to the bank?
In a word, automation.
With automation, you’ll no longer have to risk the errors and problems (and fines!) that come with manually entering data. Your team will no longer have to waste all those hours combing through datasets to find, fix, and reconcile mistakes.
Automaton does this work fast and accurately so you get the clear data needed for analytics and forecasts.
It also sorts out processes that fundamentally muddy up data, like recognize revenue so that you have a good idea of how your revenue streams perform.
Automation collects, sorts, and funnels data from different sources and teams to give you a comprehensive view of your company’s financial health. You’ll be able to see all the stats you need, and you’ll know those numbers are right.
The data analysis tools don’t need any help from your teams- they sift through all the data and spot the trends and patterns that might have been missed otherwise. And this can be any patterns associated with your KPIs.
It then uses those trends and patterns to make solid, high-level predictions that you can base strategy decisions on. You can even create multiple future scenarios that you can tweak with differing factors. This helps you get ready for a variety of future possibilities.
And because it handles all the mundane, error-prone end-to-end process, you’re finally free to put your vision for the company into action.
Clear data, analysis, and forecasts are yours for the taking
We understand how frustrating it is to not have the tools you need to do your job.
You don’t deserve to have to work in the dark.
Automation helps you leverage clear data in a meaningful way that gives you the excellent (and reliable!) analysis you need for accurate forecasting and strategic decision-making.
Growth and profitability can be yours. You just have to grab the tool and come out of the dark.
86% of consumers will leave a brand they trusted after two bad customer experiences.
– Emplifi
Let’s chat further.
"*" indicates required fields
