Podcast appearances and mentions of ben murray

AI ARR is easy to announce. Proving it is where most SaaS finance teams are about to get exposed. In episode #379, Ben Murray tackles the new bar for AI financial transparency and what it means for your next budget season. The public markets have already moved the goalposts. Launching AI was the 2024 story. Reporting AI ARR was the 2025 story. Now investors and boards want to see AI margins, customer outcomes, and proof that AI revenue is actually dropping to the bottom line. That same pressure is heading straight for private SaaS, and your board will bring it to budget season whether you are ready or not. Understand why AI ARR by itself no longer satisfies boards or investors, and what they now demand to see in the numbers. Separate pure AI revenue, AI-influenced revenue, and AI upsell so your reporting survives scrutiny, using clean SKUs, product IDs, and chart of accounts. Know which AI costs belong in COGS, including inference, infrastructure, and observability, so you can show your real AI margins. Walk into budget season ready for the board questions on AI revenue, AI cost, and margin by revenue stream. Instrument heavy, medium, and light AI users so you can defend margins and LTV to CAC as usage scales. Listen now and build the AI transparency your board will expect before budget season starts. Resources Mentioned Ben's blog posts on capturing AI costs in COGS: inference, infrastructure, and observability: https://www.thesaascfo.com/what-should-be-included-in-ai-cogs/ Ben's training on AI metrics: https://www.thesaasacademy.com/ai-finance-metrics-saas

Is your SaaS company stuck in the valuation doghouse while a handful of names trade at a massive premium? In episode #378, Ben Murray breaks down Meritech's June 2026 public software comps report and the widening valuation gap across SaaS. The median revenue multiple has fallen 64% from its pre-ZIRP peak, and most public software now trades below 5X. If you are a SaaS founder or CFO, the multiple attached to your business depends on a short list of traits the market now rewards. This episode shows you which ones, and why the rules quietly changed. Why only 9 of roughly 100 public software companies trade above a 10X revenue multiple, while 77 sit below 5X How the Rule of 40 shifted under the surface, with revenue growth now 3.3x more correlated with the multiple than free cash flow margin Why two companies with the same Rule of 40 score can trade at 7.3x versus 3.7x, depending entirely on how they got there What the top 9 share in common: free cash flow margins above 20% and ARR growth above 20% at the same time How AI exposure now sorts the market, and why a weak AI ARR story lands horizontal SaaS in the doghouse Tune in to see exactly what separates the premium names from the rest before you benchmark your own SaaS valuation. Resources Mentioned Meritech June 2026 Public Software Comps (Pulse Report): https://meritech.substack.com/p/meritech-software-pulse-12-june-2026 Ben's academy: https://www.thesaasacademy.com/

Everyone says seat-based pricing is dead, but do you actually have an outcome you can charge for? In episode #377, Ben Murray breaks down the 12 steps to building an outcome-based pricing plan, drawn from analyzing real, live outcome-based pricing pages and the fine print buried in their terms and conditions. Outcome pricing is complex to design and even harder for customers to understand: when are they charged, and where is the failure point at which they aren't? For SaaS founders and CFOs weighing a move to outcome- or agentic-AI pricing, getting the unit, success criteria, and spend controls right is the difference between a model customers trust and one that creates budget anxiety and billing disputes. How to decide whether you even have a billable outcome, and why a completed customer result is not the same as an activity. How to define the outcome unit and write success criteria twice, with real examples from Intercom's Fin, Help Scout's AI Answers, and Zendesk's 72-hour resolution window. Why failure forgiveness is a conversion tool, not just billing logic, and how measurement windows protect you from outcomes that unravel later. How to choose your commercial structure, anchor price to labor savings, revenue, or risk avoidance, and plan for the training lag before charges begin. Why spend controls and auditable billing events are non-negotiable, and how to know when outcome pricing is the wrong model entirely. Tune in for the full framework, then grab the deep-dive blog post before you design your next AI pricing plan. Resources Mentioned Ben's blog post: 12 Steps to Creating an Outcome-Based Pricing Plan: https://www.thesaascfo.com/how-to-build-outcome-based-pricing/

Is your 2027 software budget ready for the AI spend that's about to blow past every forecast you've built? In episode #376, Ben Murray covers five takeaways for CFOs from the Pricing I/O AI Pricing Report, produced in partnership with Benchmarkit, which surveyed 296 software buyers in Q1 2026. With budget season around the corner and demand for tokens, agentic AI, and tools like ChatGPT and Claude climbing fast, the gap between what buyers want and where AI pricing is heading has never mattered more. If you own a software budget or sell AI software, these findings reshape how you should think about predictability, governance, and the guardrails buyers are actually asking for. Why buyers rank predictable total cost as a top-3 priority, far above low entry price, and why the seat-based pricing obituary may be premature for enterprise deals. What the 89% budget-overrun rate really signals: a forecasting problem on the buy side, not vendors changing the rules after signing. Why credit and token pricing is the single hardest model to evaluate, and what Salesforce's new agentic work units mean for your bill. The surprising finding that IT, not Finance, owns AI cost risk, and why department-level allocation of token spend is the fix. Why buyers want soft caps, alerts, and approval steps over hard cutoffs, and where hard caps get genuinely painful in outcome-based pricing. Tune in to get the buyer-side data shaping AI pricing before you lock in your 2027 budget. Resources Mentioned Pricing I/O AI Pricing Report: https://www.benchmarkit.ai/widget/ai-pricing/cy-26?utm_source=TheSaaSCFO&utm_medium=Podcast&utm_campaign=TheSaaSCFO Ben's blog post: 12 Steps to Creating Your Outcome-Based Pricing: https://www.thesaascfo.com/how-to-build-outcome-based-pricing/

On this episode of The SaaS CFO Podcast, Ben Murray welcomes Laina Chan, CEO and founder of MiAI Law, to discuss the intersection of legal expertise and cutting-edge AI. With a three-decade career as a construction law barrister and a background in mathematics, Laina Chan shares how her experiences led to building a platform that transforms legal research and risk management. Laina Chan explains how MiAI Law stands apart by replicating the way barristers think, offering precise, first-principles of legal analysis and verification—features now attracting judges, large law firms, and in-house counsel. She dives into the challenges of bringing AI into traditional legal workflows, recent fundraising wins, and the company's approach to value-based pricing given the high demands of AI inference. Looking ahead, Laina Chan talks about MiAI Law's rapid growth, its entry into the US market, and ambitious plans to reach $1 million in annual recurring revenue. Listen in for exclusive insights on building and scaling an AI-driven SaaS business in the evolving legal tech landscape. Show Notes: 00:00 Unexpected markets for legal tech 05:38 Legal document analysis tools 06:34 Legal risk management system overview 10:27 Testing error validation with a judge 13:58 Subscription pricing and package features 19:17 Microsoft partnership and Azure listing 20:40 Potential UK firm subscription 23:26 Crafting detailed reports Links: SaaS Fundraising Stories: https://www.thesaasnews.com/news/miai-law-secures-aud-2-million-in-funding Laina Chan's LinkedIn: https://www.linkedin.com/in/lainachanbarrister/ MiAI's LinkedIn: https://www.linkedin.com/company/miai-law/ MiAI's Website: https://miai.law/ To learn more about Ben check out the links below: Subscribe to Ben's daily metrics newsletter: https://saasmetricsschool.beehiiv.com/subscribe Subscribe to Ben's SaaS newsletter: https://mailchi.mp/df1db6bf8bca/the-saas-cfo-sign-up-landing-page SaaS Metrics courses here: https://www.thesaasacademy.com/ Join Ben's SaaS community here: https://www.thesaasacademy.com/offers/ivNjwYDx/checkout Follow Ben on LinkedIn: https://www.linkedin.com/in/benrmurray

Do you actually know which of your AI customers are making you money and which are quietly destroying your gross margin? In episode #375, Ben Murray breaks down the shape of AI usage and why the distribution curve of your customers determines whether your AI subscription product is profitable. This is why Anthropic and GitHub changed their pricing. Heavy users on a flat subscription can quietly turn a 40% gross margin into a negative one, and most finance teams are not tracking token usage by customer in enough detail to see it coming. The three AI usage distribution scenarios every SaaS CFO needs to model: normal, right skew, and left skew, and what each does to your gross margin Why a right-skewed distribution means your light users are subsidizing your heavy users, and how to spot when that subsidy stops working How a left-skewed distribution can leave 80% of customers unprofitable and drag overall gross margin into the negatives Why median, mean, and P90 token usage by customer are now core SaaS finance metrics, not just product analytics What finance needs from product and engineering — usage by customer, model mix, input and output token pricing — to run real pricing scenario analysis Tune in before your next pricing review and find out where your AI margin is actually leaking. Resources Mentioned Ben's AI metrics course with the usage distribution template and free preview: https://www.thesaasacademy.com/ai-finance-metrics-saas AI readiness quiz: https://www.thesaasacademy.com/ai-finance-metrics-saas

Welcome back to The SaaS CFO Podcast! In this episode, host Ben Murray catches up with Anna Berger, founder and CEO of Trayd, to discuss the company's impressive journey from a $4.5 million seed round to a $10 million Series A in just a year. Anna Berger shares how Trayd sharpened its focus on serving union and prevailing wage contractors, leading to 600% revenue growth and a team expansion from 14 to 35 employees. She dives into the challenges of hiring, the evolution of their leadership team, and the company-wide embrace of AI tools to boost productivity. Listen in as Anna Berger discusses refining Trayd's go-to-market strategy, the metrics that matter most, and what it truly takes to scale a SaaS company in the construction tech space. Show Notes: 00:00 The Series A growth stage 06:08 Challenges of hiring staff 07:05 Teamwide AI tool integration 12:33 Understanding investor expectations 15:32 Organizing unstructured company data 17:56 Managing seasonal workforce needs 19:26 Staying resilient in tough times Links: SaaS Fundraising Stories: https://www.thesaasnews.com/news/trayd-raises-4-5-million-in-seed-round Anna Berger's LinkedIn: https://www.linkedin.com/in/annajberger/ Trayd's LinkedIn: https://www.linkedin.com/company/traydinc/ Trayd's Website: https://www.buildtrayd.com/ To learn more about Ben check out the links below: Subscribe to Ben's daily metrics newsletter: https://saasmetricsschool.beehiiv.com/subscribe Subscribe to Ben's SaaS newsletter: https://mailchi.mp/df1db6bf8bca/the-saas-cfo-sign-up-landing-page SaaS Metrics courses here: https://www.thesaasacademy.com/ Join Ben's SaaS community here: https://www.thesaasacademy.com/offers/ivNjwYDx/checkout Follow Ben on LinkedIn: https://www.linkedin.com/in/benrmurray

The pricing model that built the SaaS industry is being replaced in real time. Is your finance team ready for what it does to your core metrics? In episode #374, Ben Murray breaks down the four SaaS P&L metrics that break when per-seat pricing dies. Public tech leaders are already shifting fast. ServiceNow now drives 50% of net new business from non-seat-based pricing, Workday is reporting hundreds of millions in AI ARR, and GitHub is moving Copilot to usage-based billing. If you are a SaaS CFO or finance leader still modeling on a single blended gross margin, your benchmarks are about to stop working. Why the AI product gross margin sits around 52% and how a 30% revenue mix shift can compress your blended margin by 10 to 15 points How AI COGS scale directly with product usage, breaking the near-zero incremental cost assumption traditional SaaS finance was built on Why one blended LTV no longer works once you have heavy, medium, and light AI usage cohorts, and how to rebuild LTV to CAC by cohort How CAC payback period shifts when gross margin is no longer a single number across the customer base The new frameworks finance teams need to model hybrid subscription plus usage and outcome-based pricing before the board notices the margin compression Tune in to get ahead of the pricing shift before your next forecast and board deck go out. Resources Mentioned Ben's blog post on the SaaS pricing revolution: https://www.thesaascfo.com/saas-per-seat-pricing/ Ben's AI course for SaaS finance leaders: https://www.thesaasacademy.com/ai-finance-metrics-saas

Is per-seat pricing dying a slow death, and is your SaaS expense structure ready for its replacement? In episode #373, Ben Murray breaks down the shift from per-seat subscriptions to usage and outcome-based pricing, and what it means for your finance org. Bloomberg projects subscription pricing falling from 60% to 30% of SaaS models over the next decade, while outcome-based pricing climbs from 10% to 60%. This is no longer a thesis on a slide. GitHub, Salesforce, Zendesk, Intercom, Figma, HubSpot, and others are already repricing, and public companies are reporting AI ARR in the hundreds of millions. If you cannot answer what your AI margins are when the board asks, you are already behind. See exactly how legacy SaaS leaders are repricing, from Zendesk charging per automated resolution to Salesforce billing per AI conversation plus flex credits, and what GitHub's June 1 move to token-based billing signals for the rest of the market. Understand why a single bucket of cloud hosting that blends traditional infrastructure with inference spend leaves you blind, and what instrumentation to put in place before budget season. Learn the questions your board will ask about AI margins, and how to answer whether low-usage customers are quietly subsidizing your heaviest users. Get the case for reconvening your pricing committee now to align product roadmap, AI features, and the expense framework that tracks them. Know which AI unit economics to track by revenue stream and by usage bucket so you can defend margin as your pricing model changes in real time. Listen now and put the tracking framework in place before the AI margin questions land on your desk. Resources Mentioned Ben's blog post: https://www.thesaascfo.com/saas-per-seat-pricing/ New course on AI unit economics and metrics: https://www.thesaasacademy.com/ai-finance-metrics-saas

Welcome back to The SaaS CFO Podcast! In this episode, Ben Murray sits down with Ankur Goyal, CEO and founder of Fibr AI, to explore the cutting edge of AI-powered web experiences in the B2B tech landscape. Ankur Goyal shares his journey from engineering and early roles at Nestle and startups, through an MBA at Stanford, to launching and exiting his first venture before starting Fibr AI. We'll dive into how Fibr AI transforms static websites into intelligent, campaign-driven experiences, helping heavily regulated industries like banking and healthcare boost conversion and personalize customer journeys. Ankur Goyal also opens up about raising $7.5 million in funding, lessons learned from multiple startups, and why clear alignment with investors is crucial in early rounds. Expect insights on enterprise SaaS go-to-market strategies, the realities of pricing complex AI products, and the operational metrics driving growth at Fibr AI. Whether you're a SaaS founder, finance leader, or just AI-curious, this episode is packed with actionable takeaways and inspiration. Show Notes: 00:00 How Fiber AI started 03:41 Ensuring consistent web messaging 07:09 Entering B2B with banking clients 10:11 Raising funds with angel investors 15:30 Challenges with investor feedback 18:44 Explaining the pricing model 22:49 Tracking sales cycle duration 25:23 Focusing on internal scalability 26:46 Ending and show notes info Links: SaaS Fundraising Stories: https://www.thesaasnews.com/news/fibr-ai-raises-7-5-million-seed-round Ankur Goyal's LinkedIn: https://www.linkedin.com/in/ankurgoyal22/ Fibr AI's LinkedIn: https://www.linkedin.com/company/fibrai/ Fibr AI's Website: https://fibr.ai/ To learn more about Ben check out the links below: Subscribe to Ben's daily metrics newsletter: https://saasmetricsschool.beehiiv.com/subscribe Subscribe to Ben's SaaS newsletter: https://mailchi.mp/df1db6bf8bca/the-saas-cfo-sign-up-landing-page SaaS Metrics courses here: https://www.thesaasacademy.com/ Join Ben's SaaS community here: https://www.thesaasacademy.com/offers/ivNjwYDx/checkout Follow Ben on LinkedIn: https://www.linkedin.com/in/benrmurray

Are you a legacy SaaS company quietly hoping for a recovery that isn't coming? In episode #372, Ben Murray breaks down two slides from Jason Lemkin's State of SaaS keynote at SaaStr Annual that every SaaS operator and CFO needs to confront. The four categories Lemkin laid out will tell you exactly where your company sits in the AI transition, and whether your ARR growth is real or borrowed time. If you're building, leading, or financing a SaaS business right now, this is the reality check that should reshape how you frame your strategy for the next board meeting. Understand the four SaaS+AI categories Jason Lemkin used to map every software company, and which one quietly signals the end of the road Learn why AI driving expansion revenue versus net new customer acquisition matters more than top-line ARR growth right now See which public SaaS companies are pulling off the AI-powered rocket ship growth and what they share Hear the "tired versus wired" narratives that separate operators stuck in 2024 talking points from those building what's next Get a clear lens for whether your AI features are real revenue drivers or just a story you're telling investors Tune in to find out where your company actually sits before the next board meeting forces the question. Resources Mentioned SaaStr Annual / Jason Lemkin: https://saastrannual.com/ Ben's new AI metrics course: https://www.thesaasacademy.com/ai-finance-metrics-saas

Before the full datasets arrive, the signals are already there for those who know how to read them. Ben Murray, associate medical director at BGB Group, offers an expert preview of ASCO 2026, covering bispecifics, ADCs, earlier-stage treatment shifts and progress in historically difficult-to-treat tumors. Check us out at: mmm-online.com   Follow us:  YouTube: @MMM-online TikTok: @MMMnews Instagram: @MMMnewsonline Twitter/X: @MMMnews LinkedIn: MM+M   To read more of the most timely, balanced and original reporting in medical marketing, subscribe here. Music: “Deep Reflection” by DP and Triple Scoop Music. Hosted by Simplecast, an AdsWizz company. See https://pcm.adswizz.com for information about our collection and use of personal data for advertising.

Welcome back to The SaaS CFO Podcast! In this episode, Ben Murray sits down with Bobby Ocampo, Managing Partner at Blueprint Equity, for a candid conversation that flips the script—from founder journeys to the investor's perspective. Bobby Ocampo shares his path from physics major to private equity leader, and together they dive into what he calls the “missing middle” of growth equity investing. This discussion explores how the SaaS landscape is being redefined by AI, what investors now look for in SaaS and AI-driven businesses, and how founders can build defensible, vertical software companies in today's competitive market. If you've ever wondered how investment criteria are evolving—and what metrics, strategies, and AI trends matter most when raising capital—this episode offers actionable insights straight from the dealmaking front lines. Show Notes: 00:00 Introduction to Growth Equity 05:30 Adopting AI in SaaS products 09:53 Building trust and community 10:27 Trust and support in software business 14:15 Early growth equity challenges 18:23 Challenges with AI Monetization 22:53 Valuation for legacy SaaS companies 25:10 Importance of AI in investments 29:47 What makes an investment attractive 31:02 Thinking about raising funds 34:43 Understanding venture capital returns 37:07 Discussing future growth strategies Links: Bobby Ocampo's LinkedIn: https://www.linkedin.com/in/bocampo/ Blueprint Equity's LinkedIn: https://www.linkedin.com/company/blueprint-equity/ Blueprint Equity's Website: https://www.onblueprint.com/ To learn more about Ben check out the links below: Subscribe to Ben's daily metrics newsletter: https://saasmetricsschool.beehiiv.com/subscribe Subscribe to Ben's SaaS newsletter: https://mailchi.mp/df1db6bf8bca/the-saas-cfo-sign-up-landing-page SaaS Metrics courses here: https://www.thesaasacademy.com/ Join Ben's SaaS community here: https://www.thesaasacademy.com/offers/ivNjwYDx/checkout Follow Ben on LinkedIn: https://www.linkedin.com/in/benrmurray

If you're shipping AI product lines, are you measuring the two metrics that actually tell you whether your AI is making money — or burning it? In episode #371, Ben Murray covers two AI unit economics metrics every SaaS CFO and founder should be tracking today: the Inference Expense Ratio and the Work-to-Inference Ratio. Traditional SaaS metrics aren't enough anymore — and a year from now, when your board, investors, and potential acquirers start asking for AI margin and efficiency data, the companies that built the chart-of-accounts structure now will have clean answers. Everyone else will be scrambling. The Inference Expense Ratio (AI revenue ÷ inference cost) — and why you can start calculating this from your GL today if your chart of accounts is set up properly The healthy benchmarks: 10:1 for AI-infused products, 5:1 for AI-native, and why 3:1 is the warning zone where inference is silently eating your gross margin Why this metric only works if your chart of accounts cleanly separates AI revenue from non-AI revenue — and the SKU tagging that makes it possible The Work-to-Inference Ratio — how Salesforce's "agentic work units" concept lets you measure whether your AI is getting more efficient over time Why every AI product needs its own definition of a "work unit" — record updated, report generated, MCP called — and how the wrong definition will distort your margin trends The chart-of-accounts evolution every SaaS company needs right now: from SaaS-only structure to SaaS + AI, with new GL accounts for inference cost in DevOps COGS How the Inference Expense Ratio connects to Ben's ROSE metric — measuring revenue produced per dollar of employee, contractor, and agentic AI spend Tune in to get the AI unit economics framework in place — before your board and investors start asking the questions you can't answer. Resources Mentioned Ben's new AI course: https://www.thesaasacademy.com/ai-finance-metrics-saas ROSE metric: https://www.thesaascfo.com/saas-rose-metric/

Are AI inference costs already eating into your gross margin — and you can't even see them on your P&L? In episode #370, Ben Murray breaks down exactly what belongs in AI COGS for SaaS companies offering an AI-first or AI-infused product line. Inference bills are stacking up fast, infrastructure-layer spend is the surprise line item nobody priced in, and most finance teams haven't built the GL account structure to capture any of it cleanly. If you don't get the framework in place now, you'll be reporting AI gross margin you can't actually defend by next quarter — and your board will notice. The 5 cost categories every AI COGS framework needs — inference, model hosting/GPU infrastructure, the AI infrastructure layer, monitoring and observability, and AI-specific support Why AI inference costs deserve their own GL account — and shouldn't be buried inside your cloud hosting bill where they disappear The surprise cost line one industry report flagged as the #1 unexpected AI expense — hiding in data platform usage, networking, and egress How to structure your COGS cost centers so you can deliver clean margins by AI product line, not just lumped together at the company level Why token tracking by customer cohort (heavy / medium / light users) is now table stakes for any AI product sold as a subscription The deployed-engineer question: should AI support tickets sit with tech support or a specialized team — and how that decision rewires your margin model Tune in to get the AI COGS framework in place before your gross margin lands on a board slide you can't defend. Resources Mentioned Ben's new AI course: https://www.thesaasacademy.com/ai-finance-metrics-saas Ben's blog post: What Should Be Included in AI COGS: https://www.thesaascfo.com/what-should-be-included-in-ai-cogs/ SaaS Metrics Foundation course: https://www.thesaasacademy.com/the-saas-metrics-foundation

Did your AI bill just jump overnight — even though no one announced a price increase? In episode #369, Ben Murray breaks down the hidden AI price hike that's quietly hitting SaaS P&Ls this month. Anthropic shipped a new tokenizer underneath Claude Opus 4.7 — same menu pricing as 4.6, but real enterprise workloads are showing 12-27% higher effective cost, with some prompts consuming up to 35% more tokens for identical output. Most finance teams won't catch this variance until the invoice lands. If you're running AI in production, paying for Claude Code, or modeling AI COGS into next year's plan, this is the cost dynamic you need on your radar before the next board meeting. Why "same per-token pricing" doesn't mean same cost — and how a new tokenizer can quietly inflate your token consumption by 35% The real-world math: how a $50K/month API spend can balloon to $67K with zero changes to the pricing page What Anthropic's doubled Claude Code per-developer estimate ($6 → $13/day) signals about the end of subsidized AI pricing Why the era of "AI is just going to keep getting cheaper" assumptions is breaking down — and what that means for forecasting and runway The exact metrics to monitor in your Anthropic console today to catch token volume spikes before they hit your GL How to use the Inference Efficiency Ratio (revenue ÷ token costs in COGS) to measure AI margin if you're embedding AI into your product Why finance teams now need to document internal-use AI models the same way they document internal-use software Tune in before your next Anthropic invoice lands — and learn what to track now so AI variance doesn't become a board question. Resources Mentioned Dev.to article: https://dev.to/dev_tips/the-ai-price-hike-that-never-showed-up-on-the-pricing-page-your-bill-went-up-27-anyway-3mn5 Put your AI framework in place: https://www.thesaasacademy.com/ai-finance-metrics-saas

Welcome to The SaaS CFO Podcast! This episode features Agastya Samat, co-founder and CEO of Zeya Health, who shares his unique journey from leaving corporate law to launching a SaaS company focused on AI-powered solutions for outpatient clinics in Asia. Ben Murray and Agastya Samat dive into how Zeya is tackling the technical challenge of delivering customized patient engagement tools at scale, and how founder-led sales, strategic partnerships, and early revenue have fueled their rapid growth. The conversation covers key lessons from participating in the Antler startup residency program and sheds light on choosing the right pricing model, experimenting with product-market fit, and identifying the operational metrics that drive success. Agastya Samat also discusses building and scaling an engineering team, leveraging AI in both product development and business operations, and Zeya's ambitions for international expansion. If you're interested in SaaS, digital health, or startup growth, this episode is packed with practical advice and fresh perspective. Show Notes: 00:00 Bringing AI to healthcare in Asia 03:35 Building outpatient clinic solutions 08:01 Changes in residency program approach 10:25 Experiences in the Antler program 16:45 Finding the right North Star metric 18:57 Using new models for marketing 20:50 Where to learn about Zeah Health Links: SaaS Fundraising Stories: https://www.thesaasnews.com/news/zeya-health-raises-575k-pre-seed Agastya Samat's LinkedIn: https://www.linkedin.com/in/agastya-samat/ Zeya Health's LinkedIn: https://www.linkedin.com/company/zeya-health/ Zeya Health's Website: https://zeya.health/ To learn more about Ben check out the links below: Subscribe to Ben's daily metrics newsletter: https://saasmetricsschool.beehiiv.com/subscribe Subscribe to Ben's SaaS newsletter: https://mailchi.mp/df1db6bf8bca/the-saas-cfo-sign-up-landing-page SaaS Metrics courses here: https://www.thesaasacademy.com/ Join Ben's SaaS community here: https://www.thesaasacademy.com/offers/ivNjwYDx/checkout Follow Ben on LinkedIn: https://www.linkedin.com/in/benrmurray

Can you actually prove what your AI product is doing for customers — or are you still pointing at token counts and hoping the board nods along? In episode #368, Ben Murray breaks down the four layers of AI measurement that every SaaS company needs to communicate internally and externally. Token usage is table stakes. The real question is whether you can move up the stack from consumption to work performed to verified outcomes to quantifiable P&L impact. Get this wrong, and your AI story falls apart in front of investors, customers, and your own finance team. Get it right, and you finally have ROI math a CFO will actually approve. Why AI inference belongs in COGS / DevOps — and what that means for the gross margin story behind your AI features and product lines How Salesforce's "agentic work units" framing on its latest earnings call signals where AI reporting is heading for the rest of SaaS Where true outcome-based pricing actually lives on the pricing page (HubSpot, Zendesk, and others) — and where Agentforce was really still usage-based in disguise How Layer 4 business impact replaces fuzzy ROI calculators with objective math What to show your board and investors at each layer so your AI value story holds up under scrutiny Tune in before your next board meeting — your AI story needs more than token counts. Resources Mentioned Ben's blog post on AI measurement and AI work units: https://www.thesaascfo.com/the-four-layers-of-ai-measurement-a-cfos-framework/ Ben's academy: https://www.thesaasacademy.com/

In this episode of The SaaS CFO Podcast, host Ben Murray welcomes Ryan Wenger, CEO and founder of In House, to discuss his fascinating journey from practicing law to building and selling a SaaS travel startup, and now, creating an AI-driven legal tech company. Ryan Wenger reveals how his experiences shaped In House's mission to make legal services affordable and accessible for small businesses. Ryan Wenger shares candid lessons about pivoting business models, the challenges of fundraising in today's SaaS landscape, and what it takes to reach product-market fit. He explains how In House leverages both AI and a network of legal experts to deliver smarter, safer legal solutions for SMBs and what operational metrics are driving their impressive growth. If you're a founder, entrepreneur, or interested in how SaaS and AI are reshaping traditional industries, you'll find this episode packed with practical insights. Tune in for a front-row view of the evolving world of SaaS, AI innovation, and startup growth strategies! Show Notes: 00:00 Starting a travel discovery app 05:29 Realizing the need for accessible legal help 06:53 Challenges with DIY legal solutions 10:28 Improving document requests with AI 16:03 Navigating VC fundraising challenges 18:04 Finding success in GPT Marketplace 21:00 Understanding users' legal needs 24:34 Using in-house AI Links: SaaS Fundraising Stories: https://www.thesaasnews.com/news/inhouse-raises-5-million-in-seed-round Ryan Wenger's LinkedIn: https://www.linkedin.com/in/ryan-wenger-2122a0a/ Inhouse's LinkedIn: https://www.linkedin.com/company/inhouseai/ Inhouse's Website: https://www.inhouse.ai/ To learn more about Ben check out the links below: Subscribe to Ben's daily metrics newsletter: https://saasmetricsschool.beehiiv.com/subscribe Subscribe to Ben's SaaS newsletter: https://mailchi.mp/df1db6bf8bca/the-saas-cfo-sign-up-landing-page SaaS Metrics courses here: https://www.thesaasacademy.com/ Join Ben's SaaS community here: https://www.thesaasacademy.com/offers/ivNjwYDx/checkout Follow Ben on LinkedIn: https://www.linkedin.com/in/benrmurray

Salesforce just invented a new metric on their latest earnings call — not because they needed one, but because Wall Street didn't have the vocabulary to value what they built. In episode #366, Ben Murray breaks down Salesforce's Q4 FY2026 earnings call — not the financials, but the narrative architecture: a new unit of measurement for AI value (the AWU), a framing strategy designed to neutralize the biggest fear enterprise buyers have about AI, and three customer testimonials brought live onto the call. This is the communication playbook every SaaS operator can steal when explaining AI to boards, investors, and customers — at a time when the old metrics (tokens, MAUs, queries) no longer tell the value story. Why Salesforce introduced the Agentic Work Unit (AWU) — and what 2.4 billion AWUs against 19 trillion tokens reveals about the limits of token-based AI metrics The AWU-to-token ratio as a customer health signal — and why this is the metric your AI-enabled SaaS dashboard is missing The "humans and agents working together" framing that lets you sell AI capabilities without triggering the "we're going to lay people off" deal-killer How Wyndham's 8,300-hotel deployment, SharkNinja's 250,000 holiday-season engagements, and Lemkin's SaaStr transformation prove ROI when slides can't How to expand your SaaS metrics dashboard from 5 pillars to 6 — and the AI-era KPIs (AWUs, AI-attributed ARR, input-to-output ratios, customer outcome metrics) that belong in the new pillar Tune in before your next board meeting or AI sales pitch — and steal the vocabulary that's about to define the category. Resources Mentioned Salesforce Q4 FY2026 earnings call transcript Ben's 5-pillar SaaS metrics dashboard — and the upcoming 6-pillar AI-era expansion: https://www.thesaascfo.com/downloads/five-pillar-metrics-framework/

HubSpot's 50-cent bet may have just forced every SaaS founder to ask whether their current revenue model is still defensible. In episode #365, Ben Murray breaks down HubSpot's April 2nd announcement — slashing its Breeze customer agent from $1 to 50¢ per resolved conversation, plus a shift on its prospecting agent to $1 per qualified lead — and what this risk transfer means for SaaS revenue, forecasting, and the metrics CFOs need to start tracking. With Salesforce Agent Force hitting $800M in Q4 run rate and over 60% of bookings coming from existing-customer expansion, the question is no longer whether AI is reshaping SaaS pricing, but how fast and how unevenly. Ben pulls in his SEC filings research and a sharp counterpoint from Salesforce's own earnings call to show why the "SaaS is dead" narrative is overplayed. The two HubSpot pricing changes that signal a true risk transfer — and the 65% resolution rate (90% for top performers) that makes the bet credible Why "75% of AI agent vendors have no systematic approach to pricing" should put your pricing committee on notice this quarter The forecasting and metrics shift CFOs need to make as outcome-based pricing erodes predictable usage-based revenue — and the new KPIs that replace the old ones How Salesforce Agent Force's $800M Q4 run rate and 60%+ expansion bookings prove the AI revenue thesis — while Robin Washington's earnings call comment complicates the seat-erosion story The pricing reality check Ben pulled from analyzing 100+ SEC filings — and what it means for whether your ICP actually fits outcome-based pricing Listen before your next pricing committee meeting — and bring your CFO. The forecasting implications alone are worth the six minutes. Resources Mentioned Article from: https://thesaaslibrary.com/per-seat-pricing-dead-saas-2026/ SaaStr post by Jason Lemkin: https://www.saastr.com/salesforce-now-has-3-pricing-models-for-agentforce-and-maybe-right-now-thats-the-way-to-do-it/ Salesforce Q4 earnings call Ben's blog post: https://www.thesaascfo.com/your-ai-feature-is-quietly-destroying-your-gross-margin/

Is your AI SaaS company skating on thin ice because of exploding compute costs you're not tracking? In episode #365, Ben Murray tackles one of the most pressing financial challenges facing AI-first SaaS companies: the structural margin compression caused by LLM inference costs. Traditional SaaS was built on near-zero marginal cost per customer — that era is over. If you're building on top of AI, every prompt, query, and agentic workflow is a hard COGS line that scales with revenue, and if you're not managing it, it will quietly destroy your unit economics. Why AI-first SaaS companies are running 50–60% gross margins (vs. 70–80% for legacy SaaS) — and what Bessemer data shows about AI supernovas with margins as low as 25%. How inference and compute costs differ fundamentally from traditional SaaS COGS — and why they won't scale down the way hosting costs did Why token costs vary wildly (from $1–2 per million to $30–180+ for frontier models) and how that variability makes feature-level economics a CFO priority 5 tactical ways to reduce LLM spend: model routing, prompt caching, context compaction, semantic caching, and batch processing How to set up your GL accounts and COGS tracking to allocate inference costs by feature — so you actually understand the economics of what you've built Tune in before your next board meeting — because if you're not tracking AI inference costs at the feature level, you're flying blind on your most important unit economics. Resources Mentioned The SaaS CFO: https://www.thesaascfo.com/ Ray Rike — AI to ROI Newsletter: https://ai2roi.substack.com/ Tomas Tunguz: https://tomtunguz.com/ Fungies.io — 5 Ways to Save on LLM Costs: https://fungies.io

Welcome back to The SaaS CFO Podcast. In this episode, Ben Murray sits down with Ruth Bosse, founder and CEO of Ark Climate, a Munich-based SaaS company transforming how cities tackle climate action. With a background in politics, mathematics, computer science, and significant experience at McKinsey, Ruth Bosse brings a unique perspective to the intersection of technology, climate, and government. We'll hear about the inspiration for Ark Climate, how the company rapidly built traction in the German market, the challenges and opportunities of selling SaaS to government entities, and their approach to fundraising and growth. Ruth Bosse also shares key lessons learned from launching a govtech startup, the importance of realistic sales forecasting, and her vision to expand Ark Climate into a broader government operating platform. Whether you're a SaaS founder, govtech enthusiast, or simply interested in the evolving world of climate solutions, this conversation is packed with candid insights on metrics, go-to-market strategies, and scaling impact-driven technology. Show Notes: 00:00 Starting a climate-focused company 06:29 Internal and external climate tools 08:04 Bootstrapping and pre-seed funding 12:02 Starting with cold calling 14:16 Why we stopped doing fairs 18:56 Expanding beyond climate tools 20:38 Closing remarks and future goals Links: SaaS Fundraising Stories: https://www.thesaasnews.com/news/ark-climate-raises-2-1m-pre-seed Ruth Bosse's LinkedIn: https://www.linkedin.com/in/ruthbosse/ Ark Climate's LinkedIn: https://www.linkedin.com/company/ark-climate-technologies/?originalSubdomain=de Ark Climate's Website: https://www.ark-climate.de/en/homepage To learn more about Ben check out the links below: Subscribe to Ben's daily metrics newsletter: https://saasmetricsschool.beehiiv.com/subscribe Subscribe to Ben's SaaS newsletter: https://mailchi.mp/df1db6bf8bca/the-saas-cfo-sign-up-landing-page SaaS Metrics courses here: https://www.thesaasacademy.com/ Join Ben's SaaS community here: https://www.thesaasacademy.com/offers/ivNjwYDx/checkout Follow Ben on LinkedIn: https://www.linkedin.com/in/benrmurray

In episode #364, Ben Murray breaks down how SaaS finance teams should structure their chart of accounts to properly track inference costs, productivity AI, and agentic AI spend. As organizations shift from W-2 headcount to token costs and agentic software, your current expense coding may be out-of-date. If you can't see where the AI spend is going, you can't tie it to ROI — and you definitely can't make the case for going fully agentic. Why COGS is the right home for product inference costs (Claude, OpenAI, Gemini) — and why lumping them in with hosting is a mistake The three distinct AI spend buckets every SaaS CFO needs to track: direct COGS delivery costs, general productivity tools, and explicit labor substitution (agentic AI) Why agentic AI spend deserves its own GL account — and how that ties directly into your ROSE metric Where the tracking gets fuzzy: productivity tools vs. true labor displacement, and how to think about cause-and-effect as a CFO How AI spend reshapes the ROSE metric as orgs push toward $5M–$10M ARR per FTE targetsTune in to get the chart of accounts framework SaaS CFOs need before AI spend becomes too big to ignore — and too messy to measure. Resources Mentioned ROSE Metric: https://www.thesaascfo.com/saas-rose-metric/

Welcome back to The SaaS CFO Podcast! In this episode, host Ben Murray sits down with Hiren Hasmukh, founder of Teqtivity, an IT asset management platform serving organizations from startups to global enterprises. Hiren Hasmukh shares his journey from web and graphic design through custom software builds to leading a bootstrapped, profitable SaaS company with a global reach. Tune in as they discuss Teqtivity's product evolution, the deliberate decision to avoid fundraising, lean operations, go-to-market strategies, and what it takes to retain big-name customers—all while maintaining a laser focus on customer support and product excellence. If you're interested in SaaS growth, profitability, and scaling without external capital, this conversation is packed with insights you won't want to miss. Show Notes: 00:00 Career path to Techtivity 03:20 Origin of the smart locker idea 08:40 Driving growth through word of mouth 11:35 Focusing on retention and value 14:50 Staying flexible with marketing Links: Hiren Hasmukh's LinkedIn: https://www.linkedin.com/in/hiren-teq/ Teqtivity's LinkedIn: https://www.linkedin.com/company/teqtivity/ Teqtivity's Website: https://www.teqtivity.com/ To learn more about Ben check out the links below: Subscribe to Ben's daily metrics newsletter: https://saasmetricsschool.beehiiv.com/subscribe Subscribe to Ben's SaaS newsletter: https://mailchi.mp/df1db6bf8bca/the-saas-cfo-sign-up-landing-page SaaS Metrics courses here: https://www.thesaasacademy.com/ Join Ben's SaaS community here: https://www.thesaasacademy.com/offers/ivNjwYDx/checkout Follow Ben on LinkedIn: https://www.linkedin.com/in/benrmurray

Is your SaaS company competing for funding in a market that's already decided AI wins? The Q1 2026 data is in — and the numbers are decisive. If you're a SaaS founder thinking about your next raise — or a CFO modeling out valuation scenarios — understanding where investors are actually writing checks matters more than ever. In epsiode #363, Ben Murray covers: Which software categories dominated Q1 funding — AI infrastructure and vertical SaaS led at $4.6B and $4.5B respectively, and knowing why could sharpen your positioning Why enterprise pricing is the investor favorite — 59% of all capital flowed into enterprise-model companies, signaling exactly what target customer story VCs want to hear How Seed vs. Series A funding differs by category — Series A flipped toward vertical software and GRC, while Seed stayed heavy on AI infrastructure and DevOps What AI native vs. AI embedded actually means for classification — and why the distinction is shaping how investors evaluate your product Where to get the full Q1 2026 funding report — with searchable data across 552 rounds and $20B+ in tracked investment Listen now to get the Q1 2026 funding breakdown — then download the full PDF report to see exactly where smart money is going before your next raise. Resources Mentioned Q1 2026 Funding Report PDF — available via Ben's newsletter: https://mailchi.mp/thesaascfo.com/investors-sent-a-message-in-1q26-ai-or-bust

Welcome back to The SaaS CFO Podcast! In today's episode, Ben Murray sits down with Yogi Goel, co-founder and CEO of Maxima AI, to explore how artificial intelligence is transforming the accounting function for scaling SaaS companies. With two decades of experience in finance—from auditing at Ernst & Young to leading through multiple SaaS IPOs—Yogi Goel brings deep operational insights into the struggle for accurate, timely, and efficient financial closes. We'll dig into the founding story of Maxima AI, the challenges of automating record-to-report processes, and the future of agentic platforms that seamlessly integrate into established ERPs like NetSuite, Dynamics, and Oracle. Yogi Goel also reveals Maxima's journey through fundraising, their rapid growth, and his perspective on SaaS financial metrics in the era of AI. Whether you're a SaaS CFO, controller, or founder curious about leveraging AI to ease regulatory pressure, reduce errors, and eliminate late nights for your accounting team, this episode is packed with practical insights and candid advice from the front lines of fintech innovation. Show Notes: 00:00 Identifying accounting challenges at scale 04:52 When Maxima is the right fit 08:10 Streamlining accounting processes 11:30 Improving product accuracy and scalability 13:29 Why investors believed in us 19:33 Building awareness for AI finance 23:03 Focusing on customer satisfaction 24:35 Focusing on weekly active users 27:56 Where to learn about Maxima Links: SaaS Fundraising Stories: https://www.thesaasnews.com/news/maxima-raises-41-million-in-funding Yogi Goel's LinkedIn: https://www.linkedin.com/in/yogi-goel/ Maxima's LinkedIn: https://www.linkedin.com/company/maximaai/ Maxima's Website: https://www.maxima.ai/ To learn more about Ben check out the links below: Subscribe to Ben's daily metrics newsletter: https://saasmetricsschool.beehiiv.com/subscribe Subscribe to Ben's SaaS newsletter: https://mailchi.mp/df1db6bf8bca/the-saas-cfo-sign-up-landing-page SaaS Metrics courses here: https://www.thesaasacademy.com/ Join Ben's SaaS community here: https://www.thesaasacademy.com/offers/ivNjwYDx/checkout Follow Ben on LinkedIn: https://www.linkedin.com/in/benrmurray

Welcome to The SaaS CFO Podcast! In this episode, host Ben Murray sits down with Matthieu Hafemeister, co-founder and CEO of Concourse. Matthieu shares his journey from growing up in Paris to launching a fast-scaling AI startup in New York, drawing on his experiences in venture capital at Andreessen Horowitz and operational roles at Jeeves. Together, they dive deep into how Concourse leverages agentic AI to revolutionize finance teams—from automating workflows across complex data sources to increasing team capacity and strategic output. Listeners will get a behind-the-scenes look at Concourse's rapid growth, its recent $12 million Series A raise, and the evolving landscape of AI for enterprise finance. Matthieu also offers insights on the challenges of founder-led sales, best practices for scaling go-to-market, and why staying lean is a key part of their strategy. Whether you're a SaaS founder, finance leader, or simply curious about the future of agentic AI, this conversation is packed with practical lessons and fresh perspectives. Don't miss it! Show Notes: 00:00 "Startup Growth and Complexity Insights" 06:03 Data Integration for Workflow Efficiency 07:36 AI Adoption Accelerates Across Industries 10:59 "AI Automating Workflows, Not Tools" 13:40 "AI Startup's Breakout Journey" 19:47 Evolving Pricing with Token Model 23:26 "AI Impact on Margins" 25:53 Streamlining Finance Team Workflows 27:31 "Custom AI for Enterprise Success" 30:41 "Proof of Concepts Drive Success" 34:38 "Concourse.ai: AI Insights Hub" Links: SaaS Fundraising Stories: https://www.thesaasnews.com/news/concourse-raises-12-million-in-series-a Matthieu Hafemeister's LinkedIn: https://www.linkedin.com/in/matthafemeister/ Concourse's LinkedIn: https://www.linkedin.com/company/concourseai/ Concourse's Website: https://www.concourse.co/ To learn more about Ben check out the links below: Subscribe to Ben's daily metrics newsletter: https://saasmetricsschool.beehiiv.com/subscribe Subscribe to Ben's SaaS newsletter: https://mailchi.mp/df1db6bf8bca/the-saas-cfo-sign-up-landing-page SaaS Metrics courses here: https://www.thesaasacademy.com/ Join Ben's SaaS community here: https://www.thesaasacademy.com/offers/ivNjwYDx/checkout Follow Ben on LinkedIn: https://www.linkedin.com/in/benrmurray

Everyone's saying AI will kill SaaS — but is the SaaSpocalypse actually real, or just the latest wave of disruption that enterprise software has survived before? If you're a SaaS founder or operator watching vibe-coded apps spin up overnight, the fear is real. But the narrative is missing something critical: enterprise software isn't just code, and the moats that protect your ARR aren't going away anytime soon. Understanding what actually protects your revenue — and what doesn't — is the difference between panic and a clear-headed strategy. Here's what will you'll learn in episode #361 with Ben Murray. Why enterprise software is far more than code — compliance infrastructure, security, governance, SLAs, and integrations take years to harden, and a weekend project won't replace that How your proprietary data moat is actually becoming more powerful in the AI era, not less — and why AI agents without that data context are starting from zero Why switching costs remain one of the strongest SaaS defensibility factors — and why even AI-native alternatives face massive operational barriers to displacement The real operational commitment behind SaaS that vibe-coded tools can't replicate: customer support, product development, distribution, and long-term value delivery Why internal vibe-coded tools face their own adoption ceiling — from data security concerns to IT compliance — so enterprise spend isn't fleeing as fast as the hype suggests Tune in for the full bull case on SaaS survival — and get the frameworks from Ben's SaaSpocalypse blog post linked in the show notes. Resources Mentioned Ben's SaaSpocalypse Blog Post + Defensibility Frameworks: https://www.thesaascfo.com/the-saaspocalypse-ai-agents-vibe-coding-and-the-changing-economics-of-saas/

Is the “SaaSpocalypse” real—or just another wave of disruption you need to navigate? If you're building or scaling a SaaS company, the rapid rise of AI agents, lower barriers to entry, and shifting pricing models could directly impact your growth, revenue predictability, and competitive edge. Understanding these changes isn't optional—it's critical to staying relevant and defensible in an AI-driven market. Here's what you'll take away in episode #360 with Ben Murray. Understand how AI agents are reshaping the traditional SaaS interface and customer interaction Learn why barriers to entry are dropping fast—and what that means for competition Discover how evolving pricing models could impact your revenue and forecasting strategy Tune in to uncover whether SaaS is truly at risk—and what you should do right now to stay ahead. Resources: AI defensibility framework: https://www.thesaascfo.com/the-saaspocalypse-ai-agents-vibe-coding-and-the-changing-economics-of-saas/

Welcome to The SaaS CFO Podcast! In this episode, host Ben Murray sits down with Rishi Grover, co-founder and Chief Solutions Architect at Vena Solutions. With over 15 years of experience in the FP&A technology space, Rishi Grover shares his journey—starting from his early days as an electrical engineer to founding one of the industry's leading financial planning platforms. Together, they dive into the evolution of the FP&A landscape, the growing role of AI in financial planning, and how Vena's unique approach integrates Excel with enterprise applications. Rishi Grover also opens up about Vena's fundraising story, insights on scaling a SaaS company to thousands of customers, and their recent strategic acquisition to accelerate growth. Whether you're curious about SaaS fundraising, go-to-market strategies, or how AI is reshaping finance, this conversation is packed with valuable takeaways for founders, CFOs, and finance leaders. Let's jump in! Show Notes: 00:00 "Comprehensive Enterprise Planning Integration" 04:55 "Navigating Uncertainty with Strategic Planning" 06:43 AI Trust and Practical Applications 12:48 Startup Growth and M&A Strategy 14:20 "Microsoft-Centric Enterprise Expansion" 16:52 "Unified Approach Across Businesses" 23:01 Driving Growth and Software Adoption 25:59 "Aligning Teams for AI Strategy" 27:57 "Accelerating Clean Data Needs" Links: Rishi Grover's LinkedIn: https://www.linkedin.com/in/rishi-grover-64480314/ Vena Solutions' LinkedIn: https://www.linkedin.com/company/vena-solutions Vena Solutions' Website: https://www.venasolutions.com/ To learn more about Ben check out the links below: Subscribe to Ben's daily metrics newsletter: https://saasmetricsschool.beehiiv.com/subscribe Subscribe to Ben's SaaS newsletter: https://mailchi.mp/df1db6bf8bca/the-saas-cfo-sign-up-landing-page SaaS Metrics courses here: https://www.thesaasacademy.com/ Join Ben's SaaS community here: https://www.thesaasacademy.com/offers/ivNjwYDx/checkout Follow Ben on LinkedIn: https://www.linkedin.com/in/benrmurray

On this episode of Good Noise Podcast, I'm joined by Nuno Pereira and Ben Murray of A Wilhelm Scream to talk about their album Cheap Heat. We dig into the aggression, precision, and dark humor that define the record, and how it pulls from different eras of the band while still feeling sharp and immediate.Nuno and Ben share insight into the writing and recording process, embracing the band's darker instincts, and what it meant to “turn heel” lyrically on this release. We also talk about Cheap Heat as a full-body statement fast, confrontational, and unapologetic and how it reflects the band's longevity, chemistry, and refusal to soften with time.From A Wilhelm Scream Socials:Wesbite: https://www.awilhelmscream.com/Instagram: https://www.instagram.com/awilhelmscreamofficialFacebook: https://www.facebook.com/awilhelmscreamYouTube: https://www.youtube.com/@awilhelmscreamApple Music: https://music.apple.com/us/artist/a-wilhelm-scream/7375447Spotify: https://open.spotify.com/artist/6v7mkDKyZ50l4Jiqwx2JLg?si=K7getiIKQ0yg04IGReXg_A

Are finance teams implementing AI the wrong way? In episode #359, Ben Murray argues that many CFOs and finance leaders are approaching AI backward—focusing too much on prompts and quick wins rather than building the foundational data infrastructure required for meaningful, repeatable insights. Drawing from recent AI webinars and his experience building softwaremetrics.ai, Ben explains why SaaS metrics, retention, and cohort analysis should not rely on AI. Instead, these should be computed through structured, deterministic systems first—then enhanced with AI for deeper analysis and pattern recognition. Resources Mentioned My new metrics engine: https://softwaremetrics.ai/ My SaaSpocalypse post: https://www.thesaascfo.com/the-saaspocalypse-ai-agents-vibe-coding-and-the-changing-economics-of-saas/ What You'll Learn Why prompt-driven AI workflows are not scalable in finance The difference between deterministic systems and AI-driven analysis Why you don't need AI to calculate core SaaS metrics like retention or CAC payback The importance of structured data and clean data pipelines How AI should be layered on top of computed financial data—not raw inputs Why context windows and token usage matter when working with large datasets How AI can uncover insights (like expansion opportunities) that FP&A teams may miss Why It Matters Prompt-based workflows create inconsistency and lack of auditability Without structured data, AI outputs are unreliable and not repeatable Finance teams risk “prompt fatigue” without building scalable systems Deterministic calculations ensure accuracy for critical SaaS metrics and reporting AI delivers the most value when used for analysis—not basic computation Efficient data handling reduces token costs and improves performance

On this episode of The SaaS CFO Podcast, Ben Murray welcomes Santiago Nestares, co-founder of Dual Entry, to discuss the rapid rise of their AI-powered ERP built for the modern mid-market company. Santiago Nestares shares the inspiration behind Dual Entry, which emerged from firsthand frustrations with legacy accounting systems during his journey scaling a previous startup to $100 million in revenue. The conversation digs into what sets Dual Entry apart—an ERP designed from the ground up with AI, offering next-day migration, seamless integrations, and advanced agentic features for faster, more insightful closes. Together, Ben Murray and Santiago Nestares explore the company's approach to building a product that adapts as businesses grow, the challenges (and solutions) around complex ERP migrations, and why user happiness and rapid go-lives are among Dual Entry's top success metrics. They also dive into Dual Entry's impressive fundraising journey, ambitious go-to-market strategies, and why they believe ERP trauma shouldn't hold finance teams back from modern solutions. If you're curious about the next wave of finance tech for CFOs—or want to hear how Dual Entry is changing the game for SaaS and beyond—this episode is packed with insights you won't want to miss. Show Notes: 00:00 "Scaling Challenges with ERP Systems" 05:05 "Mid-Market Business Growth Strategy" 09:03 AI Tools for Business Automation 12:04 "Building Fast, Customer-Focused Teams" 14:56 "Strong Software & Migration Insights" 17:24 "Customer-Focused Go-to-Market Strategy" 22:11 Overcoming ERP Implementation Barriers 25:17 "Launching Agents, SaaS Expansion" 26:17 Dual Entry Resources & Community Link: SaaS Fundraising Stories: https://www.thesaasnews.com/news/dualentry-raises-90-million-in-series-a Santiago Nestares' LinkedIn: https://www.linkedin.com/in/santiago-nestares/ DualEntry's LinkedIn: https://www.linkedin.com/company/dualentry/ DualEntry's Website: https://www.dualentry.com/ To learn more about Ben check out the links below: Subscribe to Ben's daily metrics newsletter: https://saasmetricsschool.beehiiv.com/subscribe Subscribe to Ben's SaaS newsletter: https://mailchi.mp/df1db6bf8bca/the-saas-cfo-sign-up-landing-page SaaS Metrics courses here: https://www.thesaasacademy.com/ Join Ben's SaaS community here: https://www.thesaasacademy.com/offers/ivNjwYDx/checkout Follow Ben on LinkedIn: https://www.linkedin.com/in/benrmurray

What sparked the recent “SaaSpocalypse” conversation across social media, news outlets, and investor circles? In episode #358 of SaaS Metrics School, Ben Murray explains how the debate around AI potentially disrupting SaaS began. Ben breaks down what actually started the conversation, the major concerns investors and operators are discussing, and why SaaS founders and CFOs should pay attention to the shift. Resources Mentioned Ben's blog post: The SaaSpocalypse — Bull Case, Bear Case, and How to Assess SaaS Defensibility: https://www.thesaascfo.com/the-saaspocalypse-ai-agents-vibe-coding-and-the-changing-economics-of-saas/ What You'll Learn What triggered the “SaaSpocalypse” narrative in early 2026 Why AI coding tools are accelerating the build vs. buy decision for software How agentic workflows could pressure traditional SaaS products Why seat-based pricing models may face scrutiny in an AI-driven world How investors may rethink the durability of SaaS revenue and growth Why It Matters AI agents capable of executing workflows could reshape how software is delivered SaaS pricing models tied to seats may become less durable if AI reduces headcount needs The build vs. buy equation is shifting as AI coding tools make software easier to create Investors may begin reassessing SaaS valuations based on AI disruption risk SaaS operators must stay informed and proactive as AI reshapes the software landscape

On this episode of The SaaS CFO Podcast, host Ben Murray sits down with Ben Stein, co-founder and CEO at Double, to dive into the world of SaaS finance, automation, and the evolving tech landscape for accounting teams. Ben Stein shares his journey from his early days as a CFO at an AR startup, to launching Double—a cutting-edge month-end close management platform that automates everything from transaction categorization to flux analysis. The conversation covers Double's rapid growth, including its $13 million in capital raised, the strategic importance of AI in their platform, and the lessons learned from their Series A fundraising. Ben Stein also opens up about the challenges and learnings around company rebranding, finding the right investor–founder fit, and the metrics he relies on to steer the business. Whether you're part of an outsourced accounting team or building the finance function inside a high-growth SaaS business, this episode is packed with actionable insights on scaling finance operations, go-to-market strategies, and the future of accounting tech. Tune in to hear why listening to customers, focusing on the right product, and getting your metrics right can make all the difference in building and scaling a SaaS company. Show Notes: 00:00 Month-End Close Automation Tool 06:00 "AI Unlocks Growth Opportunities" 06:56 "Choosing Board Members Wisely" 10:36 "Client-Based Pricing Explained" 12:57 Finance Insights: Prioritize Simplicity Links: SaaS Fundraising Stories: https://www.thesaasnews.com/news/double-raises-6-5-million-series-a Ben Stein's LinkedIn: https://www.linkedin.com/in/benfstein/ Double's LinkedIn: https://www.linkedin.com/company/doublehq/ Double's Website: https://doublehq.com/ To learn more about Ben check out the links below: Subscribe to Ben's daily metrics newsletter: https://saasmetricsschool.beehiiv.com/subscribe Subscribe to Ben's SaaS newsletter: https://mailchi.mp/df1db6bf8bca/the-saas-cfo-sign-up-landing-page SaaS Metrics courses here: https://www.thesaasacademy.com/ Join Ben's SaaS community here: https://www.thesaasacademy.com/offers/ivNjwYDx/checkout Follow Ben on LinkedIn: https://www.linkedin.com/in/benrmurray

Welcome to The SaaS CFO Podcast! In this episode, hosts Ben Murray and Matt Perrott sit down with Dan Beck, CEO and co-founder of 401GO, to dive into the world of SaaS-driven financial services and the unique challenges facing founders and small businesses when it comes to retirement plans. Dan Beck shares his entrepreneurial journey, including the story behind launching 401GO with his brother, the company's mission to simplify and automate 401(k) plans for smaller organizations, and how modern technology is transforming retirement solutions. From tackling outdated industry systems to enabling instant, automated plan set-ups, Dan reveals why 401GO stands out in a space dominated by complexity and legacy platforms. We also explore Dan's experience transitioning from bootstrapping businesses to raising over $48 million in venture capital, including the differences, stresses, and rewards between these two worlds. Whether you're a CFO, founder, or anyone curious about scalable SaaS solutions and startup growth, Dan's insights on unit economics, partner channels, and operational metrics will leave you inspired and informed. Tune in for actionable advice, behind-the-scenes stories, and fresh perspectives on building a SaaS business that's reimagining financial wellness for employees everywhere. Show Notes: 00:00 "Challenges of Offering 401(k)s" 05:40 "Outdated 401(k) Systems Persist" 07:11 Modular Custodial Tech Enhancements 12:15 "Bootstrapping to Venture Funding" 14:19 "Understanding Different Investor Roles" 20:01 SaaS-Based 401(k) Pricing Model 21:19 "Growth, Revenue, and Retention Dynamics" 24:54 "Enterprise Layer Technology Solution" Links: SaaS Fundraising Stories: https://www.thesaasnews.com/news/401go-secures-33-million-series-b Dan Beck's LinkedIn: https://www.linkedin.com/in/danielgbeck/ 401GO's LinkedIn: https://www.linkedin.com/company/401go/ 401GO's Website: https://401go.com/ To learn more about Ben check out the links below: Subscribe to Ben's daily metrics newsletter: https://saasmetricsschool.beehiiv.com/subscribe Subscribe to Ben's SaaS newsletter: https://mailchi.mp/df1db6bf8bca/the-saas-cfo-sign-up-landing-page SaaS Metrics courses here: https://www.thesaasacademy.com/ Join Ben's SaaS community here: https://www.thesaasacademy.com/offers/ivNjwYDx/checkout Follow Ben on LinkedIn: https://www.linkedin.com/in/benrmurray

Is AI killing SaaS? Ben argues the opposite. In episode #357 of SaaS Metrics School, Ben Murray explains why AI isn't replacing SaaS companies — it's amplifying subject matter expertise. Drawing on his experience building SoftwareMetrics.ai with AI coding tools, he walks through how he would not be able to create a useful expert without domain knowledge. It doens't just apply to Ben. Resources Mentioned Ben's new app at: https://softwaremetrics.ai/ What You'll Learn Why AI is not replacing SaaS business models How subject matter expertise becomes more valuable in an AI-native world The importance of structured MRR schedules and clean invoice data How metadata (ACV, geography, vertical, company size) unlocks deeper retention insights The difference between dashboards and AI-powered revenue intelligence How AI can identify dormant expansion opportunities within your existing customer base Why It Matters AI tools amplify expertise — they don't replace it Clean financial and customer data becomes a strategic asset Revenue intelligence goes far beyond basic retention reporting SaaS operators who understand their metrics can leverage AI more effectively Industry-specific knowledge remains a competitive moat in a world of AI tooling

Welcome to The SaaS CFO Podcast! In this episode, Ben Murray sits down with Nir Weingarten, co-founder and CEO of Eikona, to dive into the intersection of AI, lifecycle marketing, and the SaaS startup journey. Nir Weingarten shares his fascinating background in academia, AI research, and software development, and how that technical expertise fueled the birth of Eikona—a company aimed at transforming post-acquisition marketing through generative AI. You'll hear about the early days of Eikona, from ideation with his co-founder to securing $5.1 million in seed funding and finding that crucial product-market fit. Nir Weingarten breaks down how reinforcement learning and GenAI can disrupt traditional, manual approaches to email and SMS marketing, creating real ROI for brands with large customer bases. Whether you're interested in go-to-market strategies, startup fundraising lessons, or the future of AI adoption in SaaS, this conversation is packed with insights. Tune in to discover how Eikona is helping marketers unlock new value beyond customer acquisition and what's top of mind for building the next wave of AI-powered growth. Show Notes: 00:00 Lifecycle Marketing Revolution Explained 05:48 Social Media AI Disrupts Marketing 07:21 Mid-Market B2C Targeting Strategy 10:33 "GenAI Startup Journey" 14:00 "Fuzzy Autonomy in Marketing" 20:05 "The Right Kind of Stubborn" 23:17 "Building a Scalable Sales Funnel" 25:28 "Client Happiness Drives Success" 27:38 "AI Founder Insights & Metrics" 31:24 "Eikona.io: AI Resources & Networking" Links: SaaS Fundraising Stories: https://www.thesaasnews.com/news/eikona-raises-5-million-seed-round Nir Weingarten's LinkedIn: https://www.linkedin.com/in/nir-zvi-weingarten/ Eikona's LinkedIn: https://www.linkedin.com/company/eikonaio/ Eikona's Website: https://www.eikona.io/ To learn more about Ben check out the links below: Subscribe to Ben's daily metrics newsletter: https://saasmetricsschool.beehiiv.com/subscribe Subscribe to Ben's SaaS newsletter: https://mailchi.mp/df1db6bf8bca/the-saas-cfo-sign-up-landing-page SaaS Metrics courses here: https://www.thesaasacademy.com/ Join Ben's SaaS community here: https://www.thesaasacademy.com/offers/ivNjwYDx/checkout Follow Ben on LinkedIn: https://www.linkedin.com/in/benrmurray

Welcome to another episode of The SaaS CFO Podcast! Today, host Ben Murray sits down with Helen Hastings, founder and CEO of Quanta, an AI-powered accounting service and finance platform designed specifically for software and SaaS companies. In this conversation, Helen Hastings shares her unique journey from software engineer to founder, recounting her transition into the world of finance automation after building internal accounting systems at Affirm. She pulls back the curtain on Quanta's innovative blend of both product and service, walking us through how her team leverages in-house technology and automation to offer full-service accounting and reporting for early-stage and growth-stage companies. We delve into what sets Quanta apart—its proprietary general ledger, instant onboarding for startups, and a vision for real-time, intelligent financial insights without the typical growing pains of legacy systems. Ben Murray and Helen Hastings also talk candidly about fundraising lessons, the importance of storytelling in venture capital, and what's ahead as Quanta gears up to launch a standalone software product. If you're a founder, a SaaS finance leader, or just fascinated by the future of accounting tech, this episode is packed with firsthand insights you won't want to miss. Show Notes: 00:00 Engineers and Accountants: Kindred Spirits 03:28 Automated Accounting & Reporting Solution 08:18 "Growing with Our Customers" 10:28 Business Setup Time Variability 15:13 "The Power of Storytelling" 19:27 Flat-Rate AI Subscription Model 20:40 "Product Usage & NRR Focus" 23:26 "Find Helen at UseQuanta" Links: SaaS Fundraising Stories: https://www.thesaasnews.com/news/quanta-raises-4-7-million-in-seed-round Helen Hastings' LinkedIn: https://www.linkedin.com/in/helenbhastings/ Quanta's LinkedIn: https://www.linkedin.com/company/usequanta/ Quanta's Website: https://www.usequanta.com/ To learn more about Ben check out the links below: Subscribe to Ben's daily metrics newsletter: https://saasmetricsschool.beehiiv.com/subscribe Subscribe to Ben's SaaS newsletter: https://mailchi.mp/df1db6bf8bca/the-saas-cfo-sign-up-landing-page SaaS Metrics courses here: https://www.thesaasacademy.com/ Join Ben's SaaS community here: https://www.thesaasacademy.com/offers/ivNjwYDx/checkout Follow Ben on LinkedIn: https://www.linkedin.com/in/benrmurray

On this episode of The SaaS CFO Podcast, host Ben Murray welcomes Luca Cartechini, co-founder and CEO of Shop Circle. With deep roots in equity research and venture capital across the European tech landscape, Luca Cartechini shares how his experiences led to the creation of Shop Circle—an innovative, long-term holding company that acquires and grows mission-critical, profitable SaaS businesses outside the traditional VC and PE model. Listeners will get insider perspectives on the realities of scaling software companies in fragmented European markets, the metrics that matter most when evaluating SaaS acquisitions, and the evolving role of AI in operational excellence. Whether you're a founder considering your next move or simply passionate about SaaS, this episode is packed with actionable wisdom on building, buying, and holding vertical software companies for the long haul. Show Notes: 00:00 "Challenges Scaling European Companies" 03:34 "ShopCircle: AI-Powered Software Platform" 08:51 "AI in Software Acquisitions" 12:06 AI's Role in Business Strategy 14:09 "Pricing, AI, and Value Strategy" 16:58 "Key Metrics for Business Acquisition" 22:28 "Operator-Focused, Long-Term Investment Approach" 25:13 Founder Missteps in Acquisition Process 29:28 Recurring vs. Usage-Based Revenue Analysis 31:51 "SaaS Revenue Analysis for ROI" 36:39 AI-Driven Efficiency and Expansion Links: SaaS Fundraising Stories: https://www.thesaasnews.com/news/shop-circle-raises-60-million-in-series-b https://www.thesaasnews.com/news/shop-circle-extends-series-b-to-100-million Luca Cartechini's LinkedIn: https://www.linkedin.com/in/luca-cartechini/ Shop Circle's LinkedIn: https://www.linkedin.com/company/shop-circle/ Shop Circle's Website: https://shopcircle.co/ To learn more about Ben check out the links below: Subscribe to Ben's daily metrics newsletter: https://saasmetricsschool.beehiiv.com/subscribe Subscribe to Ben's SaaS newsletter: https://mailchi.mp/df1db6bf8bca/the-saas-cfo-sign-up-landing-page SaaS Metrics courses here: https://www.thesaasacademy.com/ Join Ben's SaaS community here: https://www.thesaasacademy.com/offers/ivNjwYDx/checkout Follow Ben on LinkedIn: https://www.linkedin.com/in/benrmurray

On this episode of The SaaS CFO Podcast, host Ben Murray welcomes Ben Winter, co-founder and COO at Stuut. Ben Winter brings a dynamic background in management consulting, design agencies, and executive leadership roles within scaling SaaS companies. He shares the story behind founding Stuut—an AI-powered platform designed to transform the order-to-cash process for businesses where working capital and collection efficiency are essential. Ben Winter reveals how Stuut's AI agents streamline everything from invoice communication to payment collection, targeting verticals like manufacturing, logistics, and medical devices that rely on fast cash cycles. The discussion delves into Stuut's journey—from early customer pain points to rapid fundraising, the importance of founder–investor alignment, and their innovative approach to go-to-market and brand differentiation in the crowded finance technology space. Listen in for actionable insights on SaaS metrics, building AI-driven solutions, and lessons learned in scaling an operationally efficient company—straight from a COO who's at the forefront of fintech innovation. Show Notes: 00:00 "Automating AR with AI" 05:19 "Optimizing Cash Flow for Growth" 07:11 Evolving CFO Strategies for Collections 12:34 "Delivering Value to Customers" 16:25 In-Person Impact and Clear Value 19:14 "Non-Traditional Marketing Strategies" 21:16 "Digital Coworkers for Collections Teams" 24:09 "AP & AR Strategy Insights" 29:57 "Scaling Efficiently with AI" 31:28 "Rethinking Team Structures Efficiently" Links: SaaS Fundraising Stories: https://www.thesaasnews.com/news/stuut-technologies-raises-29-5m-series-a Ben Winter's LinkedIn: https://www.linkedin.com/in/bengwinter/ Stuut's LinkedIn: https://www.linkedin.com/company/stuut/ Stuut's Website: https://www.stuut.ai/ To learn more about Ben check out the links below: Subscribe to Ben's daily metrics newsletter: https://saasmetricsschool.beehiiv.com/subscribe Subscribe to Ben's SaaS newsletter: https://mailchi.mp/df1db6bf8bca/the-saas-cfo-sign-up-landing-page SaaS Metrics courses here: https://www.thesaasacademy.com/ Join Ben's SaaS community here: https://www.thesaasacademy.com/offers/ivNjwYDx/checkout Follow Ben on LinkedIn: https://www.linkedin.com/in/benrmurray

This week on Toilet Radio: Teenage Joe gets to fulfill a dream. We talk with New Bedford, MA melodic hardcore legends A Wilhelm Scream. Guitarist/vocalist Trevor Reilly and Ben Murray join for an hour-long interview about all things punk and metal. We talk about the dearly departed Trevor Strnad and his connection that took Ben from Light This City to A Wilhelm Scream twenty years later. The duo discusses some of their favorite guitar bands like Dinosaur Jr and In Flames and the pain that is having to practice guitar. Other topics include the evolution of the music industry since the 90s, touring small towns in the middle of winter “with dogs with boners just wandering around”, developing a villain character to write music, and building a healthy distrust of fans. We talk about Cheap Heat, the band’s upcoming record that absolutely rips, and get in depth about what it takes to survive and grow as a band for so many decades. I don’t say it lightly: folks……. this is a good one. The band is gearing up for a West Coast tour starting next week. Check out the dates here. And because I gushed about it on the show, please do yourself a favor and listen to The Horse at your earliest convenience. Music featured on this ‘sode: A Wilhelm Scream – Let it Ride (out February 27th) This program is available on Spotify. It is also available on iTunes or whatever they call it now, where you can rate, review, and subscribe. Give us money on Patreon to get exclusive bonus episodes and other cool shit.

Calculating SaaS metrics sounds straightforward—until you actually try to do it. In episode #353, Ben Murray breaks down why SaaS metrics are so difficult to calculate at scale, why spreadsheets eventually break, and what it really takes to produce CFO-grade metrics that stand up in the Boardroom and in due diligence. Drawing on insights from the 7th Annual SaaS Tech Stack Survey, Ben explains why 58% of companies still rely on spreadsheets and highlights the growing mix of tools aimed at solving the SaaS metrics challenge. At the core of the issue? SaaS metrics require clean, structured data from four distinct systems—and most companies don't have that foundation in place. Resources Mentioned 7th Annual SaaS Tech Stack Survey: https://mailchi.mp/thesaascfo.com/its-here-the-2026-saas-finance-ops-tech-stack-report Waitlist for Ben's SaaS Metrics app: https://docs.google.com/forms/d/e/1FAIpQLSeMMKm1N6g0PifGBNhFacivqA-lqePH9id93dCGKxNeBOWbFw/viewform?usp=dialog SaaS Metrics Foundation Course with App: https://www.thesaasacademy.com/the-saas-metrics-foundation What You'll Learn The four key SaaS finance data sources required to calculate accurate metrics Why SaaS metrics are difficult to automate (and why most companies struggle) Why spreadsheets are the default starting point—and why they don't scale The most common tools companies use today to calculate SaaS metrics Why understanding the manual process is critical before implementing software What “CFO-grade SaaS metrics” actually means Why It Matters Without structured financial data, your metrics won't stand up to board or investor scrutiny Disconnected systems create inconsistencies that undermine trust in your numbers Spreadsheet-based processes break as transaction volume and complexity grow Accurate SaaS metrics require integrating financial, bookings, HR, and customer revenue data If your data foundation isn't solid, automation tools won't fix the problem

Welcome to The SaaS CFO Podcast! In this episode, host Ben Murray sits down with Vadim Rogovskiy, CEO and co-founder of Eve, an AI-powered sales enablement tool designed specifically for founders and small business owners. Vadim Rogovskiy shares his unique journey as a serial entrepreneur—from selling and exiting previous startups to launching Eve after discovering the challenges small businesses face managing leads without traditional CRMs. Together, Ben Murray and Vadim Rogovskiy dive into Eve's early days, its customer-first approach, the founding story, and how AI is transforming sales for SMBs. You'll hear insights on fundraising in today's fast-moving AI market, lessons learned across multiple ventures, and how grassroots, founder-led marketing is key in cutting through industry noise. Whether you're scaling your SaaS startup or curious about AI's impact on modern sales and revenue models, this episode is packed with real-world advice and thoughtful analysis on building and growing a successful tech company. Let's jump into the conversation! Show Notes: 00:00 "Building EVE from Event Insights" 03:09 "Startup CRM Challenges and Demand" 08:59 "Sustainable Growth Over Hype" 10:46 "Prioritize IRL and Founder-Led Growth" 14:27 "Founder Discusses Early Fundraising Journey" 18:10 "Qualitative KPIs and User Growth" 20:53 "Achieving Product Market Fit" Links: SaaS Fundraising Stories: https://www.thesaasnews.com/news/eve-raises-2-million-in-pre-seed-round Vadim Rogovskiy's LinkedIn: https://www.linkedin.com/in/vadim-rogovskiy/ Eve AI's LinkedIn: https://www.linkedin.com/company/joineveai/ Eve AI's Website: https://joineve.ai/ To learn more about Ben check out the links below: Subscribe to Ben's daily metrics newsletter: https://saasmetricsschool.beehiiv.com/subscribe Subscribe to Ben's SaaS newsletter: https://mailchi.mp/df1db6bf8bca/the-saas-cfo-sign-up-landing-page SaaS Metrics courses here: https://www.thesaasacademy.com/ Join Ben's SaaS community here: https://www.thesaasacademy.com/offers/ivNjwYDx/checkout Follow Ben on LinkedIn: https://www.linkedin.com/in/benrmurray

In episode #348 of SaaS Metrics School, Ben Murray responds to a thoughtful LinkedIn comment that challenged a common assumption: that a well-structured SaaS P&L tells the whole story. While a properly built chart of accounts and SaaS P&L are foundational, Ben explains where hidden risks can still exist beneath clean financial statements. Using real-world examples from SaaS founders and finance teams, this episode explores how revenue commingling, misclassified expenses, role overlap, and customer concentration can quietly distort decision-making—despite an “immaculate” P&L. Resources Mentioned LinkedIn SaaS P&L Post: https://www.linkedin.com/posts/benrmurray_saas-activity-7418308514533552128-l2eG/ SaaS P&L Blog Post: SaaS Metrics Course: What You'll Learn Why a clean SaaS P&L can still hide structural business risk How revenue commingling and miscoding undermine financial clarity When and how to reclass employee costs across departments Why materiality matters more than perfection in early-stage accounting How customer concentration risk often surfaces late in due diligence Why It Matters A SaaS P&L is only as useful as the assumptions behind it Poor expense classification can distort margins and unit economics Misunderstanding departmental cost ownership leads to flawed decisions Customer concentration can materially impact valuation and investor confidence Strong financial systems require both structure and experienced oversight

In episode #347 of SaaS Metrics School, Ben Murray explores the lesser-discussed nuances behind ARR (Annual Recurring Revenue) disclosures. Building on the prior two episodes on ARR definitions and common disclosure mistakes, this discussion dives into the assumptions and gray areas that often underlie headline ARR numbers. Drawing on extensive research across public tech company filings, Ben explains how assumptions about renewals, timing, and grace periods can materially affect how ARR is interpreted by boards, investors, and acquirers. Resources Mentioned Blog post: In-depth analysis of ARR definitions and disclosure practices: https://www.thesaascfo.com/cfos-guide-to-disclosing-headline-arr-numbers/ SaaS Metrics course: https://www.thesaasacademy.com/the-saas-metrics-foundation What You'll Learn Why most ARR definitions assume full renewal of existing contracts How ARR disclosures typically avoid assumptions around expansion, contraction, or churn Why ARR is almost always a point-in-time metric rather than a forecast Common disclaimers used to separate ARR from GAAP revenue and financial guidance How grace periods for contract renewals can materially affect reported ARR—and how some public companies quantify that risk Why It Matters ARR assumptions directly influence how investors assess revenue durability Poorly explained ARR nuances can create confusion during due diligence Grace periods can inflate perceived recurring revenue if not disclosed properly Transparent ARR disclosures strengthen credibility with boards and potential buyers A defensible ARR definition supports better financial strategy and valuation discussions

In episode #346 of SaaS Metrics School, Ben Murray breaks down the most common mistakes SaaS and AI companies make when disclosing their ARR (Annual Recurring Revenue). Building on the prior episode about the five questions every ARR definition must answer, this discussion focuses on where ARR disclosures go wrong—and why unclear definitions can damage credibility with investors, boards, and acquirers. Drawing from extensive research on public tech company filings and press releases, Ben explains how vague ARR definitions, hidden mechanics, and inconsistent methodologies create confusion and risk during fundraising, valuation discussions, and due diligence. Resources Mentioned Prior episode: The 5 Questions Your ARR Definition Must Answer SaaS Metrics Course: https://www.thesaasacademy.com/the-saas-metrics-foundation Blog post on ARR: https://www.thesaascfo.com/cfos-guide-to-disclosing-headline-arr-number What You'll Learn Why a company's pricing model does not always match its ARR model The importance of clearly defining which revenue streams are included in ARR Common issues with vague annualization periods (monthly vs. quarterly vs. trailing periods) How poor disclosure of usage-based or variable revenue creates misleading ARR numbers Why ARR definition changes and restatements require clear explanation and transparency Why It Matters Clear ARR disclosure builds trust with investors, boards, and business leaders Poorly defined ARR can undermine company valuation and fundraising conversations Inconsistent ARR definitions make benchmarking and financial modeling unreliable Transparent ARR mechanics reduce follow-up questions during due diligence Strong financial strategy starts with defensible, repeatable revenue metrics

Defining ARR is getting harder—not easier—as SaaS, AI, usage-based pricing, and hybrid business models evolve. In episode #345 of SaaS Metrics School, Ben Murray breaks down the five critical questions every ARR definition must answer to hold up with Boards, investors, and during due diligence. Drawing on extensive research into how public tech companies disclose ARR in press releases and SEC filings, Ben explains why ARR is not “dead” but why vague or inconsistent ARR definitions undermine credibility, comparability, and company valuation. This episode provides a practical framework to help SaaS leaders, CFOs, and founders clearly define ARR in a way that supports accurate metrics, financial modeling, and investor trust. Resources Mentioned Blog post on ARR definitions and disclosure best practices: https://www.thesaascfo.com/cfos-guide-to-disclosing-headline-arr-numbers/ Ben's SaaS Metrics training: https://www.thesaasacademy.com/the-saas-metrics-foundation You'll Learn The five questions every ARR definition must answer to be investor-ready Which revenue types belong in ARR—and which should be excluded The difference between revenue-based, contract-based, and hybrid ARR calculations How public SaaS and AI companies annualize subscription and usage-based revenue Common approaches for handling variable, consumption, and usage revenue in ARR Why vague ARR definitions create confusion in fundraising and due diligence Why It Matters Clear ARR definitions improve credibility with investors and business leaders Poorly defined ARR can negatively impact company valuation Consistent ARR logic enables better KPI tracking and benchmarking Transparent ARR disclosures reduce friction during fundraising and M&A Accurate ARR supports stronger financial strategy and forecasting Well-defined revenue categories improve accounting and financial systems

In episode #344 of SaaS Metrics School, Ben Murray shares insights from his research into how public tech companies define and disclose ARR in press releases and SEC filings. By analyzing U.S. and global public companies, Ben identifies common ARR “buckets” and explains how different revenue models influence what gets included in ARR. Rather than debating whether ARR is “dead,” this episode focuses on how companies are actually reporting ARR today—and what private SaaS and AI companies can learn from those disclosures. Resources Mentioned Subscribe to Ben's SaaS newsletter: https://mailchi.mp/df1db6bf8bca/the-saas-cfo-sign-up-landing-pageVerint (example of detailed SaaS and AI ARR disclosures): https://www.thesaascfo.com/ai-arr-vs-saas-arr-how-to-define-and-calculate/ What You'll Learn The most common ARR buckets used by public SaaS and tech companies How pure subscription revenue is typically defined in ARR How companies handle variable revenue such as usage, transactions, and overages When managed services revenue is included in ARR—and when it isn't Why purely usage-based companies rarely report ARR How revenue models and pricing structures shape ARR definitions What ARR disclosures signal to investors and the public markets Why It Matters ARR definitions directly impact how investors interpret growth Clear ARR buckets improve transparency and credibility Mixed revenue models require thoughtful ARR construction Public company disclosures set expectations for private companies Poor ARR definitions can confuse metrics, forecasting, and valuation Understanding ARR structure helps align finance, accounting, and reporting