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Control - 5 C's of Payment Analytics

We live in a bubble of instant access. News, photos, feeds, and information are all obtainable at the touch of a button or swipe of a screen. In this world of instantaneousness, why doesn’t our business data and payment analytics also follow this pattern and allow CEOs to view their most important information on-demand?

In a SaaS business, data is everything. It helps company owners make smart, informed decisions that help navigate their business to success, not to mention gives them an understanding of important KPI’s such as MRR, customer churn, CAC, and CLV.

A 2011 Forrester report on business intelligence found that “enterprises today need agile business intelligence technologies and applications that are unified, pervasive, limitless, and automated”. Six years later SaaS owners are still struggling access to their payment data in a simple and straightforward fashion.

The 5 C’s (and the ongoing struggle with instant access analytics)

Control - 5 Cs of Payment Analytics Time Line

Picture the scene: It’s 8 am and PING! An email from the investors. They’re interested to know your customer churn rate in correlation to your CLV. How do you go about procuring this sensitive data and make it accessible to both yourself, your team, and — most importantly — your investors?

Collecting

The first logical step in any path to presenting data is to collect it. In a SaaS business, data collection could come from any combination of streams: your profit and loss sheets, accounting software, a hastily compiled spreadsheet… anywhere. Cue asking your dev team to drop everything that they’re currently working on and wade through swamps of software and spreadsheets to being collecting the data your investor wants to see.  

Time estimate: 1 x dev team @ 3 hours

Cost estimate: $300

Cleaning

Great! You’ve spent the morning collecting your data. But, oh! It’s full of useless fluff that you don’t need (not this time around, anyway).

The next few hours will be spent with your dev team (again), asking them to clean and remove any data that is incomplete, inconsistent, or irrelevant.

Time estimate: 1 x dev @ 1 hour

Cost estimate: $100

Combining

Combining the data into one manageable source — a document, spreadsheet, or table — is the next stage in getting your payment analytic report investor ready. And yes, you’re still working with your dev team at this point. They’re the ones who’ve spent half the day working with the data, so it makes sense for them to combine it.

Are you starting to question the other things your dev team could or should be working on? How about fixing that glaring bug? Improving your UX? Or getting your next product launch ready? The list of backlog tasks is potentially endless.

Time estimate: 1 x dev @ 1 hour

Cost estimate: $100

Calculating

Crunching numbers is the next task. You locate the math and spreadsheet whizz in your company. Unsurprisingly, they’re also part of the development team. Now they spend the next hour calculating the figures your investor is patiently waiting for. This is trivial work for one of the highest paid employees in the company. It’s not necessarily in their job description, but hey, they’re team players and that’s why you love them.

Time estimate: 1 x dev @ 1 hour

Cost estimate: $100

Cosmetizing

When all the numbers are added up, the data needs to be presented in a format that is presentable and easy to understand. You hand the material to your marketing team and ask them to spend time on making the data look visually striking, personable, and digestible to your investor.

Time estimate: 1 x marketer @ 2 hours

Cost estimate: $150

The 5 C’s of payment analytics just cost your business $750 and a whole day’s work from key members of your team. Something doesn’t quite add up, does it? Think about what will happen the following month when your investor asks to see average revenue per customer or a different SaaS metric. What if they ask the following week? Or tomorrow?

SaaS business owners need to smarten up when it comes to obtaining payment analytics data. The traditional method of rolling out a report deployment across the dev and marketing teams not only wastes time but also cost money. Checking payment analytics should be made part of any business owner’s daily routine, and by having instant access to your data, you’ll be able to reply to your investor within a matter of minutes.

Control helps you accomplish the 5 Cs with no enterprise integration, no per transaction commission, and no long term contracts.

We stand by our product and know we can be a game-changer for your business. Look what some of our 20,000+ current customers have to say.

With Control you can get a bird’s eye view of all accounts, or dive into each account individually as you need to. Day-to-day management of my business’s cash flow has gotten so much easier to see and to manage.
— Richard Lazarra, Founder of A Better Lemonade Stand

Control is the last app I check at night and the first app I open in the morning. I review my Stripe & PayPal sales & customer stats on my Control app even before turning off my alarm clock!
— Serge Salager, CEO of Visual Ping and Retarget Links

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