Website Closers® presents a cutting-edge B2B Software-as-a- Service (SaaS) Platform that Automates the Accounts Receivable Process for Small to Medium Sized Businesses. Small business owners don’t have the luxury to maintain a full staff of accountants to assist with cash flow management. Accounts Receivable and Collections matters has been reported as the #1 Accounting Issue for small businesses, and this software package is narrowly tailored to focus on that important need.
The platform was purchased in 2017, and the entire business has been rebuilt since then. However, the original concept remains the same, as an accounts receivable workflow automation platform for small or midsize companies using accounting software packages such as QuickBooks Online and Xero. Building its appeal through helping businesses automate the entire accounts receivable workflow, this company utilizes optimization in all aspects from sending invoices to collecting payments. These services enable the client to reduce the time traditionally spent managing their accounts by more than 80%. Let’s say it normally takes a company 30 days on average to collect payments, this brand can help reduce their collection cycle by nearly a week! This in turn helps to ensure that the company’s cash flow remains strong and healthy to avoid cash crunches and additional lending facilities.
As a B2B Company, it has developed a sticky recurring customer base among top industry leaders in the SMB Space, and in the past 4 years, it has become a formidable, leading provider of billing, invoicing, and payments software. Some of the industries it serves includes marketing and advertising agencies, law firms, and other software companies. Many more industries and clients can easily be added to the system, for example, they perform well with financial consultants such as accountants and bookkeepers. Their typical customer earns between $1.5 million and $2.5 million in sales each year and has more than 1,000 annual invoices to send. Improving the brands reach, they have become is an approved app of Clio, a legal practice management platform, which has enabled them to appeal to legal firms as well.
This high-performance software has drawn enthusiastic praise for improving business operations, which has resulted in adding many new accounts, largely from word of mouth and referrals. Controlling their own software and not being reliant on a third-party infrastructure or marketplace means that this company has complete control over its customer relationship, another key factor in their solid growth. The business recently upgraded its infrastructure to enable it to facilitate continued organic growth.
Operating in an Accounts Receivable Automation Market that has become more fully developed, and automated, this company has positioned itself well to see strong growth in the coming years as more businesses begin to recognize the benefits of using automation to handle receivables. This brand’s excellent reputation, combined with stellar reviews from industry leaders who have improved their bottom line with this brand’s help make it clear that a major expansion may be on the horizon.
The company currently offers small, medium, and large plans, with the small plan bringing in 46% of revenue and the medium plan attracting 35%. There are six packages altogether, and the average length of a contract is 2 years. All products are based on a monthly recurring subscription fee, with the average month to month contract billed at $96, and the average LTV sitting at $2,000.
The company’s marketing approach has been largely organic, with an emphasis on SEO which has helped give them a positive turnaround. With a popular blog on its site, the business has used this kind of content marketing to expand the customer base. The website was reengineered last winter to be more SEO friendly as well. Seeing an increase in traffic and its SEO rankings, they now regularly see 7,000+ monthly visitors and the brand ranks highly for 1,340+ keywords.
That still leaves plenty of other areas to explore. The company could launch a social media marketing program, which could include an influencers campaign that attracts leading industry experts to help promote their platform. This business also has a massive email database of 12,880+ subscribers which could be leveraged for targeted email marketing purposes. The company could also integrate additional software services to augment their flagship offering … the company is currently exploring the possibility of integrating more vertical software platforms and additional accounting platforms.
There is an immense opportunity available to this company by integrating onto other higher end accounting platforms such as Sage, Oracle, and NetSuite, where their price points could be raised significantly since those platforms are designed for larger companies with bigger collection needs. Their services could also be customized to specific industries such as insurance carriers, franchise groups, and development agencies.
With minimal oversight from its three operating partners, this company also employs three full-time employees, including the managing director, senior software engineer, and customer service representative. Daily operations consist of focusing on project management, managing customer service issues, and handling monthly accounting and finances.
This business is looking to partner with a buyer who understands the value of a well-developed SaaS platform and can bring in clients within the financial services industry. This business sees enormous growth potential with a buyer who has the vision to take this sophisticated SaaS platform to a new level of profitability. This is a simple turn-key operation that has partnered in the past with major payment providers such as PayPal, Stripe, and Authorize, and a buyer inherits their monthly recurring revenue from hundreds of clients and their excellent client relationships.
As more businesses turn to automated accounting options, this company can easily scale its appeal in the same way that it became an innovator in this niche field. With the ability to dramatically expand the industries that it markets to while finding plenty of new clients eager to jump on board, this is a once-in-a-lifetime investment for any type of buyer.
This SaaS Business Represented by:
Technology & Software Business Brokers
Listing ID: WC2436
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