Board On Track, Inc.

CLIENT’S CHALLENGES

Cornell-Feist had lost confidence in her prior third-party bookkeeping firm. She couldn’t trust her financial information and didn’t have any financial data to help manage growth. She needed to restore faith in the finance function, develop the toolset and processes to accurately and repeatedly produce the insights required to inform her management team’s decision making.  

SOLUTION

• Driven Insights took over the entire finance function for BoardOnTrack, providing ongoing bookkeeping and controller services. 
• Driven Insights integrated its financial systems with SaaS Optics (a subscription management software tool) and Salesforce.com to manage subscription revenue recognition and SaaS metrics.
• Driven Insights developed a monthly reporting package suitable for presentation to a sophisticated Board of Directors and now delivers this within two weeks of the end of each month. This comprehensive set of reports is comprised of:
  • Monthly and last-12-month financial statements
  • Dashboards with industry-focused KPIs (SaaS metrics such as net annual recurring revenue, churn, customer lifetime value, customer acquisition cost, etc.)
  • Actual results vs. budget to highlight differences relative to projections

RESULTS

How Driven Insights is Driving BoardOnTrack’s Growth:

• Cornell-Feist now has the data she needs to manage her business and an advisor and sounding board she trusts implicitly.
• BoardOnTrack has successfully raised two rounds of institutional capital since engaging Driven Insights.
• There is now a healthy relationship between management, the board, and investors. An accurate, comprehensive monthly package facilitates healthy board and investor dialog, focused entirely on what matters most – helping BoardOnTrack achieve its growth objectives.

"This churn analysis is fantastic, I wish all of my portfolio companies had the ability to do this type of deep dive into churn."

- Sky Lance, Board Director, BoardOnTrack  & SustainVC FOUNDER