Technology Companies / SaaS Companies
Revolutionize Your SaaS Business with Momentum Accounting
We focus on providing support for SaaS companies and seasoned business owners who care about their numbers.
And we do this though the use of cloud-based solutions that streamline your financial processes to provide increased efficiency – as well as time and cost savings.
Why SaaS Companies Love Working with Momentum Accounting
SaaS companies partner with us because we “get them” and understand their business model and the particular needs of SaaS accounting.
In addition to professional service companies, wealth management firms, digital agencies and marketing agencies, SaaS companies look to us to provide expert guidance and support to help them become stronger, more efficient, and easier to run.
And partnering with Momentum Accounting means significant advantages for SaaS companies such as benefiting from customized accounting software for SaaS companies.
Expertise in the SaaS Business Model
Because of their business model and delivery of services, multi-location SaaS companies face significant complexities that include decentralized payables, inter-entity transactions, multiple currencies, and global consolidations. These issues may also be an indication that your accounting system is outdated or, quite possibly, even obsolete.
In addition, the intricacies of subscriptions can make it difficult to know how to properly apply accounting rules, as well as managing sales taxes, contract renewals, commissions, annual recurring revenue, and other accounting variables.
And perhaps the most common challenge in accounting for SaaS companies is recognizing revenue at the right time.
Streamlined Processes and Automation
By utilizing integrated accounting solutions and a select variety of collaborative cloud-based tools to provide instant access to the information you need anywhere, anytime, Momentum can craft automation solutions for effectively streamlining your company’s financial processes.
This is accomplished by our ability to build custom accounting tech stacks tailored to your SaaS business to become an integrated system of accounting workflows and software.
Use of Advanced Software to Increase Accuracy and Efficiency
At Momentum Accounting, we are experts in the use of a variety of cloud-based tools for accounting, invoicing, and payment processing. And this means that Momentum is able to create significant competitive advantages for our SaaS clients.
We start with the foundation of a core accounting software, either QuickBooks Online (QBO) or Xero (a favorite of Momentum!) and create the essential hub of your Momentum accounting solution.
After carefully analyzing all of your accounting functions and workflows we can then determine the best software tools for each. Finally, we integrate everything using the open API for QBO or Xero. This, then, allows us to create an outsourced SaaS accounting software solution specifically designed for your SaaS company.
More Time to Focus on Core Business Functions
Being busy is usually a good thing for any business, but not when it is simply being busy doing tasks that are not contributing to revenue generation. Momentum Accounting is able to help SaaS companies save time and allow them to focus on other critical aspects of their business development.
Take payroll processing, for example. For most companies this is a major, time consuming task, and especially so for SaaS companies with a large number of employees. In addition, every business has invoicing and collections tasks along with the need for reconciling expense reports and bank statements, not to mention managing accounts payables.
By removing these major accounting functions from your company’s daily activities, we can help you focus on the things that are vital to the growth of your business such as improving customer and employee satisfaction.
When executed properly and effectively, outsourced accounting services can help SaaS companies save costs by significantly reducing accounting-related expenses, which in turn allows them to allocate limited resources to other client-facing and revenue-generating areas of their business.
Reduction in Accounting-Related Expenses
We mentioned that cost-savings can be realized from reducing accounting-related expenses. In fact, by partnering with Momentum Accounting, one of the main ways we can help you reduce accounting related expenses is by reducing your staffing costs.
Through outsourced accounting services, SaaS companies have a reduced need for hiring and training accounting staff. This can result in a significant in salary, employee benefits, and related overhead expenses.
Because the bulk of your accounting department is no longer included in the payroll costs, nor in the associated expenses of health insurance, your overall business costs are reduced. In addition, many SaaS companies may also realize a reduced requirement for office space, equipment, and supplies because of this leaner staffing strategy.
Avoidance of Costly Mistakes
Not only are mistakes and accounting management errors inefficient and time consuming, but they can also cost companies significant amounts of money.
Good record-keeping and accurate accounting enables SaaS companies to run smoothly and allows owners to make accurately informed business decisions. Partnering with Momentum means having a SaaS accounting system that seamlessly tracks your finances in addition to experienced accounting professionals who help alleviate financial errors and resolve any issues quickly.
Staying compliant with tax regulations, for example, can be a daunting task for any business. At Momentum, however, one of our strengths is our knowledge and understanding of tax-related finance issues and functions. All of which means that your SaaS company can count on us to keep your both numbers accurate and your company compliant.
Momentum will also help ensure that all your tax-related obligations are met on time and accurately. That means filing tax returns, paying taxes, and managing tax-related documents. Because all your company’s tax requirements are met, you will avoid penalties and reduce the risk of audits. And that adds up to increased efficiency and more time to focus on your core business activities.
When it comes to accounting functions, along with the inevitability of human error, there is also the risk of fraud.
It is an unfortunate but not-so-uncommon reality that many businesses are stolen from and, in almost 99 percent of cases, the crimes are carried by internal employees acting alone and often with no oversight.
However, by partnering with a trusted outsourced accounting service like Momentum, SaaS companies can find this to be one of the easiest ways to prevent fraud.
Expert Support and Guidance
We have a heart for SaaS companies, and we genuinely believe that your success is our success. Momentum Accounting is the antithesis of some faceless, remote, corporate entity that views clients as mere “account numbers.” We are real people dedicated to interacting with you to support your goals with our team-approach and our modern, data-driven solutions.
We optimize the experience and knowledge of our experts in each area that your business needs and provide valuable insights and analytics that can aid you in decision-making and help your SaaS company stay competitive in a rapidly evolving marketplace.
Experienced Accounting Professionals with a Deep Understanding of SaaS Companies
We understand that owners of SaaS companies who are considering outsourced accounting services have many options and choices. But we also understand that smart SaaS company owners want more than just “bookkeeping” – that they want to experience the benefits of partnering with a numbers-driven, tech-savvy outsourced accounting firm.
That’s Momentum Accounting – premier accounting for SaaS companies.
At Momentum, we genuinely care about our clients and always endeavor to communicate with them clearly and effectively. This simply means that we explain everything for them and we do so without using big words or making confusing requests.
Best of all, we’re also friendly, enthusiastic, and easy to talk to!
Our primary goal is to eliminate the stress and worry from the accounting process and, in doing so, allow you to do more of the things that move your business forward. One of the ways we do this is to help you stay focused on what matters most – building and growing your SaaS business.
The experts that are Momentum Accounting not only love numbers and technology, but are both resourceful and determined, which means they can conquer any challenge they’re presented with.
So, the bottom line here is that if you want it done right, then we’re the right partner for you.
What Momentum provides for our clients goes far beyond merely “crunching numbers” – we bring to the table the combination of our savvy team of experienced accounting professionals, custom technology stacks, real-time dashboards and powerful analytics turning data into actionable insights, all of which allows us to guide our clients into real growth.
Access to Specialized Knowledge of SaaS business models
At Momentum Accounting, we do so much more than simply provide financial reports.
We also provide you with expert input and feedback on your financial results by highlighting variances, raising flags when needed, and helping you to understand your company’s financial trends and outliers.
Each month, our accounting experts make recommendations to help you keep or get things moving in the right direction.
We never simply “manage” accounting for SaaS companies. Our overriding mission is to provide modern, effective, and personalized dynamic accounting solutions that support your growing business – in the cloud as well as in your profit margin.
And we do all this while balancing your numbers and our technology – so you can focus on being the best SaaS company you can be!
Stop juggling. Start focusing.
“If you need more (beyond just bookkeeping), then it’s a no brainer, they are awesome and they will be there as you grow.”