SaaS News Roundup – February 2nd, 2019

Welcome to the latest weekly roundup of SaaS news, bringing together the top stories in the SaaS industry you need to hear about. This week, we cover SaaS KPIs, podcasts, and cloud computing. We finish off on how a firm looking to disrupt the American banking industry has secured a £30m investment. 

Insights From Investors: A CFO Playbook on Saas KPIs & Best Practices 

Insights from Investors: A CFO Playbook on SaaS KPIs & Best Practices, was put together by SaaSOptics and Fulcrum Equity Partners to give you the ultimate guide on the important metrics all SaaS businesses should focus on. As the report explains: 

“Traditional financial metrics and legacy ERP systems don’t provide adequate insights into the performance and growth of SaaS businesses. That’s because these metrics and systems were created for companies selling “one-time” products and simply don’t work for a recurring revenue business model.” 

The report dives into each metric in great detail. It points out the key data you need to look out for and explains the reasoning.  

If you’re looking to start up a SaaS business or looking for investment, then this playbook will give you the investors’ perspective. 

Gartner: Cloud, Enterprise Software to Drive Global IT Spending Increase 

Global IT spending is set to increase by 3.2% this year to an eye-watering $3.77 trillion. The findings from Gartner, a market research and consultancy firm, showed that cloud computing is the primary driver behind this predicted growth: 

“Spending on enterprise software is forecast to jump 8.5 percent this year from 2018, to hit $431 billion. Included in the enterprise software category are ERP (enterprise resource planning), SCM (supply chain management) CRM (customer relationship management), open-source, on-premises and cloud software. 

“Within the overall enterprise software category, cloud computing infrastructure and applications will absorb most of the spending, totaling $214 billion this year, up 17.5 percent from 2018.” 

These findings point to an exciting future for SaaS businesses, as well as the breadth of opportunities. 

DreamGrow’s Ultimate List of the Best Business Podcasts 

Podcasts have been in the mainstream for nearly two decades now, and to this day, many entrepreneurs swear by them. They can be invaluable sources of tips, news, and inspiration. The team at DreamGrow decided to put together an epic list of the best business podcasts around today, and this is what they had to say about SaaS: 

“SaaS is the buzzword on everyone’s lips this year. Cloud-based software businesses are becoming the norm, and with this new normality, a wealth of podcasts is emerging. These podcasts are keeping people informed of the movements in the SaaS market and providing fascinating insights into how these companies are being built, and by whom.” 

The bonus feature in this post is the interviews with the hosts of the selected podcasts, delivering yet more insight into what makes them tick.   

Finxact Raises $30M For Banking SaaS 

Could a SaaS-driven revolution be on the way for the US banking market? The investors in Finxact, a company offering a SaaS solution for Core banking services, seem to think so. Accenture, American Bankers Association (AMA), and SunTrust Bank are among the parties who have invested $30m into Finxact, which was founded in 2017. 

“The core banking market in the U.S. is set to experience significant disruption in the near future, as banks continue to grow frustrated with their existing core providers and advances in cloud and digital technology make it possible to upgrade aging systems without doing a full rip and replace,” added Brett Goode, a managing director at Accenture and head of the company’s North America core banking practice.

“We are pleased to invest in and form a strategic alliance with Finxact, enabling us to jointly bring our clients innovation that will help them transform to meet the digital needs of today and tomorrow.”