What TrueRev does
TrueRev is Helping SMBs automate order-to-cash accounting: customer bookings, billings, revenue recognition, and SaaS metrics on a single platform.
TrueRev's Current Landscape
With TrueRev it is fast to move from pilot to paying. Several newest customers went from demo to paying within 30 days. This changes the game because there are few such solutions in the market. Demand for a good product at a low price is very high. Main competitor (SaaSOptics) has moved up-market in terms of pricing. This is the right team because TrueRev’s founder Ali Rizvi knows the accounting and finance space very well. He knows users and their specific pain points and what frustrates them daily. He’s also a user and buyer of the software as a former CFO. Jason, the Co-founder is very hands on software developer and has built great enterprise software. They believe their timing is right and market is rapidly growing, need exists, fragmented competitors. They believe TrueRev represents an opportunity to become a $100M company in 5 years.
TrueRev Birth Story
The founder of TrueRev, Ali Rizvi is an entrepreneur to his core (always has been) and thrives on helping to solve problems. One night he was working late at home and his wife asked him what he was working on? He replied with a smiling frustrated face, “A revenue recognition project for a client”. He showed his wife massive spreadsheets and manual tools he had built to get the work done. When his wife looked at the spreadsheets, she asked Ali with curiosity “isn’t there a software solution for this, Ali?” He said he had searched for one and couldn’t find one. She asked “you should find some talented engineers and build one, Ali.” And thus, the idea for TrueRev was born!
Imagine this. Most SMBs work with spreadsheets to run strategic processes for their organization. Customers, contracts, revenue recognition, and subscription metrics. They are spending hours pulling, updating, and distributing data. Models built on spreadsheets are bespoke and hard to maintain. Cross-functional collaboration is difficult. It comes down to one fact: spreadsheets are not for complex revenue recognition. They reinforce data and people silos. Preventing teams from working towards their common goals. Do you agree? As a result, determining revenue and updating financial metrics are usually seen as dreadful processes. When, in reality, they drive strategy. It is time to empower your finance and accounting teams with TrueRev.
The problems TrueRev solves:
○ Determining GAAP revenue recognition
○ Gathering data from many sources and keeping it in sync
○ Using that data to drive information about contracts, contract
renewals, billing schedules, revenue recognition, deferred revenue,
and SaaS metrics such as; MRR, ARR, Churn, Net Retention, CAC,
Future cash flows from current customers
○ The current competitor solutions are TOO expensive - SMEs with
$1M-$25M are not willing to pay >$1.5K/month for this.
Vision: Getting the company to $100M ARR, $1B + valuation
A Customer Story
TrueRev is the game changer of its customers. TrueRev helped its customers ditch complicated spreadsheets which were prone to errors and migrate to its solution to solve its revenue recognition problem and save tons on money on an expensive ERP system.
The Team Culture
TrueRev is a hybrid-remote workplace letting its employees to work with flexibility. The founders promote healthy work life and encourage its team to take breaks and give priority to the mental health and overall wellbeing. Funny fact: TrueRev’s head of marketing’s name is also Ali to they call him DJ Ali .B to avoid confusion. It’s a small team of loving people who are aligned to one goal and that is to grow TrueRev by empowering the finance and accounting and sales teams.
A founder quote
“It's important to remember that you're not missing out on opportunities by saying no.” - Ali
Check It Out : https://truerev.com/
Follow On Social: