Planwhiz + UGAAP

Challenge: Unmanageable amount of contracts when using manual spreadsheets

UGAAP initially managed contracts in spreadsheets, which was used to do revenue recognition, cash flow forecasting, deferred revenue, MRR/ARR, churn, etc. Their two products, an SaaS and an on premise, were required under the ASC 606 rule to be recognized with two different schedules. With sales increasing, the spreadsheets created a significant bottleneck. It became difficult to avoid mistakes in cash or revenue waterfall calculations and even harder to identify the error.

“Before Planwhiz, I have to manually maintain this giant spreadsheet as our contract database to close books, report quarterly financial and SaaS metrics to the board and for audit purposes. It is very time consuming and error prone”

Solution: Eliminate manual calculation by automating closing process and BoD reporting

“Planwhiz replaced that giant spreadsheet and saved me at least 15 hours every month. Planwhiz automatically generates revenue and cash forecast for every sales order based on the product. No more complicated waterfall formulas. It also generates SaaS metrics (ARR/MRR, new bookings etc.) automatically based on each sales order. What makes it ever better is it also provides me drill down capability to each customer, product, sales rep, and sales regions!”

Name: Richard Rubin

Title: Head of Finance

Implementation Time: 2 weeks

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