Welcome to The SaaS Academy!
We'll help you learn and implement SaaS metrics faster. While saving you 100's of hours.
Discover the proven strategies and techniques to make better financial decisions in your SaaS business.
The right data and metrics can transform your business and career - it changed mine.
If we haven’t met before - Hi, my name’s Ben Murray, The SaaS CFO. 👋
I started working in software in the early 2000's. This was the on-premise software days. Yes, Salesforce was around but cloud software was not a thing yet.
I knew nothing about the software business model having come from the airline industry.
I started off with 0 knowledge on metrics and concepts to manage software businesses, but after scouring the internet and learning from the best Fortune 20 software finance executives, I figured out the basics and more.
But the SaaS model had not completely arrived yet. We were managing software companies with basic financial statements and margins by revenue stream. There was no CAC concept! What's retention?
It took me another 10 years of on-the-job learning and finding the best, random online resources to figure out the evolving subscription and SaaS business model.
Around 2016, I started sharing my SaaS knowledge via my The SaaS CFO blog, but I continued to learn and improve SaaS metric concepts since then.
This SaaS knowledge helped me ascend to SaaS CFO, exit to private equity, teach metrics to $1B+ investment funds - and today help 3,000+ SaaS companies and 10,000+ of our SaaS colleagues.
Today, there still are no textbooks on how to learn and implement SaaS metrics. Someday, maybe, but this SaaS finance knowledge has been trapped in our heads. Until now!
In 2016, I started sharing my knowledge on SaaS metrics and gave away as much SaaS knowledge as possible.
Today, I've surpassed 59,000+ subscribers to my SaaS newsletter, and in 2021 finally made the decision to quit my day job to help you! I teach SaaS finance full-time and help SaaS companies with their finance and accounting.
Now, I’ve been a founder and instructor for nearly 3 years and have launched SaaS podcasts, SaaS metrics newsletters, a SaaS metrics dashboard app, and a SaaS news site.
I genuinely look forward to Mondays, helping SaaS founders, investors, and finance teams, and doing what I love. I get messages every day from our SaaS colleagues looking for help.
The Simple “Secret” Roadmap to Financial Transparency
Over the last 20 years, I’ve learned a lot about what it takes to implement SaaS metrics and frameworks in a wide variety B2B and B2C SaaS businesses and revenue models.
Thanks to my fractional SaaS CFO practice, I get a ton of reps. And I've seen a lot of BAD data and processes.
But I have also witnessed the financial transformation of SaaS companies. I implemented my SaaS metrics framework above for a fast-growing SaaS company. In the two years we spent with this company, they 3x'd their ARR and were valued at 8x ARR in a growth equity round. Financial transformation is a journey, so don't wait! It doesn't happen overnight (unfortunately😔).
I’ve spent thousands of hours teaching and implementing SaaS metrics. And while I’ve learned a heck of a lot of things, the biggest thing I’ve learned is this:
We can't randomly implement metrics. There’s a sequential process to implementing your SaaS metrics. And you have to follow it in order. I call it the SaaS Metrics Foundation.
It’s a matter of:
- SaaSifying your accounting foundation
- Refining your financial, HRIS, customer, and operational data
- Structuring your SaaS P&L correctly
- Calculating your SaaS metrics
- Understanding the nuances applicable to your SaaS
- Benchmarking your performance
It's a step-by-step process.
If you follow this sequential formula, your financial decision-making will improve. And you'll be the "go to" SaaS metrics expert.
These processes and learned skills are transferable to any SaaS company. Whether you are a founder, CFO, analyst, or investor, you'll become fluent in the SaaS language and help drive change in your businesses and career. 😊
Why do so many SaaS companies have trouble with metrics?
data and process and nuances
The SaaS Metrics formulas are pretty straight-forward.
Yes, there is definitely some learning you need on the correct formulas. Especially, annualizing your retention numbers.
But it's the data and the nuances of SaaS metrics that separate the science (formulas) from the art (nuances). It's no secret that the SaaS pros have mastered the nuances.
We must follow a repeatable and consistent monthly process to calculate our metrics. Let's stop the 🔥 fire drills 🔥 and one-time analyses.
There is nothing like due diligence, Board meetings, or short cash runways to pressure test the accuracy of our SaaS finances and metrics.
There are dozens of ways in which SaaS finance sucks up your valuable time.
SaaS Formulas
Everybody has jumped into the metrics game. Which blog post should you believe? I implement tried and trusted formulas from my on-the-job experience as a SaaS CFO.
Software
What software should be providing the data that I need? The operational SaaS tech stack continues to evolve and, unfortunately, it has become more complicated.
Data and More Data
It's so true. Garbage in, garbage out. Wrong decisions. Lack of trust. Our data foundation must be in place to succeed. This includes financial, HRIS, and operational data.
Time Periods
This will throw off your metrics every time. How much data do I actually feed into the formulas?
Process
You'll go crazy jumping from metric to metric trying to calculate every number. We have to take a methodical approach so that we do not introduce errors into our process.
Never-ending KPI's
Where do I start? I get this ❓question❓ A LOT! I'm $1M in ARR or $10M in ARR or $100M in ARR. What metrics should I be calculating? Well, it's always the right metrics for the right stage of your business. My 5 Pillar SaaS Metrics Framework acts as your roadmap.
Accounting Structure
I see this over and over again. A generic chart of accounts that does not fit your SaaS business. Without the proper accounting structure, you CANNOT calculate your SaaS metrics.
Pricing Models
We are no longer on SaaS 1.0. SaaS pricing models have evolved. SaaS revenue streams continue to evolve. This impacts how we calculate and interpret SaaS metrics. Standard formulas will mislead you.
And whether you figure it out on your own or not, you’ll also have to do all this while juggling your normal job duties, business operations, forecasts, Board meetings, and fire drills while doing your best to avoid burnout.
I’m not saying that you can’t figure all of this out on your own. I did, but it took me 20 years, lots of Board meetings, due diligence pressure, quality of earnings audits, financial audits, and just general scrutiny of my numbers.
Yes, there are thousands of blog posts out there teaching you how to do all of these things, but all of those random resources (and often incorrect guidance) will take you 100's of hours to read, and 100's of hours to implement.
And even then, you might still get it wrong and not see any results.
So how do you succeed in improving your SaaS finances, your company, and your career?
You build your SaaS Metrics Foundation.
That's the secret.
If you can systemize and operationalize your SaaS metrics, you’ll be able to accurately and consistently produce SaaS metrics that genuinely help you make better financial decisions.
The SaaS Metrics Foundation condenses 20 years and thousands of hours of SaaS finance experience into an immersive course.
I’ll teach you everything about my SaaS Metrics Framework that I've taught to 1,000+ students and have implemented for my SaaS clients.
By the end, you’ll have the templates, the formulas, the benchmarks, and the nuances that’ll save you lots of time for the rest of your company's existence and your career.
As you’re working your way through the course, here’s a flavor of what you’ll get:
🧭
Module 1: Course Introduction
• Welcome to the SaaS Metrics Foundation
• The Foundation
• Outline & Objectives
• Downloads
• SaaS Metrics Benchmarks
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Module 2: Metrics Foundation
• Five Pillars Metrics Framework
• The SaaS CFO Metrics Template Review
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Pillar 1 - Growth
• New Bookings
• Expansion Bookings
• Committed ARR
• ARPA & ARPU
• SaaS Quick Ratio
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Pillar 2 - Retention
• Gross Dollar Retention (GDR)
• Net Dollar Retention (NDR)
• Renewal Rate
• Churn & Logo Retention
• Net Promoter Score (NPS)
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Pillar 3 - Growth Margins
• Gross Margins
• Gross Margins by Revenue Stream
• COGS vs. OpEx
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Pillar 4 - Financial Profile
• Rule of 40
• OpEx Profile
• SaaS Operating Leverage Part 1
• SaaS Operating Leverage Part 2
• EBITDA
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Pillar 5 - Efficiency
• Customer Lifetime Value (LTV)
• Cost of ARR
• SaaS Magic Number
• Customer Acquisition Cost (CAC)
• CAC Payback Period
• ROSE Metric
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Cohort Analysis
• Cohort Analysis - Part 1
• Cohort Analysis - Part 2
• Cohort Analysis - Part 3
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How to Transform a "Messy" P&L
• The Steps to Transform a "Messy" P&L
• P&L Transformation Exercise in Excel
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Course Wrap Up
• 5 Key SaaS Reports
• Excel Add-In
• Feedback and Testimonial Request
Okay, that's a lot of stuff. But does the SaaS Metrics Foundation actually work?
Here's how we have helped Founders, Finance, and Investors...
Adi MR
Essential if you're running a SaaS business
As VP of Ops for a high-growth SaaS business, it was critical for me to have a deep understanding of the financial drivers and KPIs for the business. Sure, there are plenty of free resources online, but Ben's SaaS metrics class offers a structured and efficient walkthrough of how to think of a SaaS business. It has provided great insight and value, and saved me a ton of time.
Paul McClure
I recently completed the SaaS Metrics Live Course…
I recently completed the SaaS Metrics Foundation Live course and it was great. As a SaaS CFO for a number of years, it was good to see a system and framework for SaaS metrics that clearly defined explained and categorized these metrics. Lastly I should mention that Ben is very knowledgeable and is a great instructor.
Guy Levy
This course provides great value.
I recently completed a SaaS course, and it was an amazing experience! This course is suitable for beginners and advanced learners alike who are interested in gaining a deeper understanding of SaaS. Ben, was fantastic at explaining the concepts in a clear and concise manner, making it easy for everyone in the class to understand.
What I found most valuable about the course was the comprehensive knowledge it provided. I learned everything I needed to know about SaaS, from the basics to more advanced concepts. Ben provided us with real-world examples, which made it easier for me to apply what I learned to my day-to-day work.
I highly recommend this course to anyone looking to gain a solid understanding of SaaS. I feel much more confident in my knowledge of SaaS now than before taking the course.
Thanks, Ben, for an incredible learning experience!
Rob, SaaS CEO
Most valuable course...
It has been the most valuable course I have attended for decades, if not ever! I think it's way too cheap for the content you're providing...
Karen L
Ben gets it...
There are very few CFO's who actually get metrics and how to use them. I was not disappointed! I was very impressed with the detail, quality of answers and depth of knowledge!
Okay, I get it - The SaaS Metrics Foundation is incredible. But how much does it cost?
For context, you could pay $500 for an hour of my time over a Zoom call for a private coaching session. Or like larger organizations do, you could pay $20,000 to fly me out for a custom training session.
You could also pay $4995 to sign up for my SaaS Metrics Accelerator.
The other way to put our prices into context is to think of it as an investment in your business and/or career. Miscalculate your metrics for a potential investor? It could cost you millions in valuation. 🤷
Misallocate capital in your SaaS business? It could cost you thousands or millions in lost revenue or profit.
Invest in your business without understanding the ROI? It could shorten your cash runway or even threaten the viability of your business.
Anyway, enough talk - here's the price.
The SaaS Metrics Foundation
$1,395
One-time fee (payment plans available)
🎁 Wait, did you say free bonuses?
Yup. We’ve decided to bundle in a bunch of free bonuses, just for fun:
Free Bonus #1
12 months of free access to my custom-built SaaS Metrics Dashboard
I created a customer SaaS metrics dashboard application for my fractional clients and now I’m rolling it out to my students. Easily share, communicate, and benchmark your SaaS metrics performance. I have access to the gold standard of SaaS metrics benchmarks, and I’m making it available to you. Create your first dashboard in less than 15 minutes!
Free Bonus #2
Lifetime membership to my SaaS Community
My community is one of the only SaaS communities where you can network, plug your product, post questions, post jobs, and catch the latest events.. Once you enroll, you'll get lifetime access to our community of over 4,000 like-minded SaaS colleagues who are improving their businesses and careers. You’ll also get access to our live, virtual events which are exclusive to alumni of SMF.
Free Bonus #3
SaaS Pitch Deck Templates
You know how hard and time-consuming it is to create great presentations. I hired a professional designer to create a great-looking SaaS pitch deck template. I based the flow of the deck on Y Combinator’s proven pitch deck formula. SaaS founders in my community have used this deck to raise millions.
Our Money Back Guarantee
Within 2 weeks of enrolling, if you feel like the course does not provide any practical or theoretical value to you, just send me an email at [email protected] and I'll refund every penny. No questions asked. FYI. No one has asked for a refund yet.
