Item: Maxio
Rating: 8
Author: Verified User

Overall Satisfaction with SaaSOptics

Use Cases and Deployment Scope

We currently use SaaSOptics in Finance for sending out and tracking invoices for our SaaS clients. It has cut down on invoicing time tremendously, as we used to just manually create them in QB and track them using Excel. Some of the reports have been useful to product and sales teams as well.

Pros and Cons

Pros

Invoice Automation
Data Integrations
Customer Service

Cons

Options for Cash-based businesses. While it's not GAAP compliant and most users are accrual, many SaaS start ups are still small and operating on a cash basis.
Commissions Module since SO already has all our data intergrations
So many different features and data entry points that manual data entry errors are common

Return on Investment

Less time spent on invoicing
Less errors made in invoicing (wrong amounts, missing invoices, etc)
Linked our CRM with our accounting system

Alternatives Considered

QuickBooks Desktop Pro

QuickBooks is what we originally used for invoicing, but we outgrew that and it was taking up a lot of time to manually create invoices. We also were tracking invoicing on an Excel spreadsheet for 500 customers, so there was a lot of room for error. SaaSOptics eliminated these problems by automating invoice creation so now sending them is just a click of a button, and it keeps track of the subscription renewals. Now the clunky spreadsheets just serve as an audit resource to SO.

Key Insights

Do you think Maxio delivers good value for the price?

Yes

Are you happy with Maxio's feature set?

Yes

Did Maxio live up to sales and marketing promises?

Yes

Did implementation of Maxio go as expected?

Yes

Would you buy Maxio again?

Yes

Likelihood to Recommend

SaaSOptics is awesome for growing companies that want to automate their invoicing. I like that it is also aimed at subscription based sales structures rather than sales that occur at a single point in time (but has the ability to support both). SaaSOptics makes it super easy to keep track of subscriptions, renewals, co-terms, etc. The reporting is a great feature, but we are unable to use most of the reports as we are a cash-based accounting firm. SO caters to accrual accounting and GAAP compliant firms which makes sense as it is the most commonly accepted accounting basis here in the US, but many small SaaS start-ups are still operating on cash basis. We are one of those companies, so we are able to get a ton of use out of the invoicing side of things, a lot of the reports are useless for us. We also wish SO had a commission module since we already integrate our CRM and accounting softwares into it, but that is not a make it or break it for us. We love the time SO has saved us.

Comments

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