It’s our pleasure to invite you to our next Power Session on March 3rd. Join Leadership Initiative Award Winner Pavan Singh of Firmex as he discusses Firmex’s Data Driven Journey and tips/suggestions for other SaaS companies.
Location – Gowlings Offices, 1 First Canadian Place, 100 King Street West, 16th Floor, Toronto, ON – (Strathy Smith Lyons Room)
Date – March 3rd
Time – 8am to 10am
Event Description: Using Analytics to Drive SaaS Revenue Retention & Growth
This workshop will focus on Firmex’s Data Driven Journey and tips/suggestions for other SaaS companies. This will include:
Why Invest in Business Intelligence (BI) and Analytics?
Key to scaling a profitable SaaS company is revenue retention
How It Happened At Firmex?
In 2014 Firmex began investing BI systems & staff. Part of this initiative married product user data with its CRM systems
The ROI in the first 18 months (2014-2015)
On $200k invested in Analytics we saw an immediate 3x return on a cash basis (8x on LTV basis)
Firmex revenue retention has moved from 98% to 103% and customer retention from 85 to 90% on our subscription business. Which has a $300k annual value and $2.1m LTV
What is the ROI going Forward?
The potential impact on optimized Customer Retention and Upsells with an LTV value is in $10ms. It’s fundamental to any SaaS business profitability.
Gainsight forecast of renewals and customer health by value.
Tips and suggestions on where and how to start taking advantage of using your ‘data’ to impact your bottom line.
Pavan Singh is Senior Manager, Information Management & Analytics at Firmex. He has 17 years of Business Intelligence and Analytics Experience, and has consulted to over 20 companies across North America in a variety of Industries in a variety of areas in the CRM/Business Intelligence and Analytics space. Pavan and Firmex