Software as a Service (SaaS) is a method of software delivery and licensing whereby software is accessed online and delivered on a subscription basis as opposed to being purchased and installed on your device as a one-time purchase.

Are you surprised to come across an accounting firm that has even heard the term SaaS, let alone knows what it is? Don’t worry; we won’t hold it against you! Our firm in Nanaimo, BC offers accounting services to software service providers across Vancouver Island.

In this technology sector your business moves fast, it is a necessity of the industry that you are in. Consequently, you need a SaaS accounting and tax advisor that can not only keep up but has the necessary experience to help you stay ahead of your competition.

SaaS Accounting Services

As a SaaS provider, you and your team invest significant time and resources into R&D to create a product that surpasses your previous release as well as your competitors. Due to the capital intensive and competitive nature of your industry, it is extremely important that care and attention are given to budgeting, forecasting and financial reporting. Without accurate, reliable, and timely financial data it is impossible to measure the success of your company. We can work with you to identify useful Key Performance Indicators (KPIs) such as Monthly Recurring Revenue (MRR) and provide KPI reporting on a monthly, quarterly or annual basis.

Unlike the enterprise software firms of the past that could count on large upfront fees, the SaaS business model receives small amounts of recurring revenues over longer periods of time. A SaaS business model can be a great strength by providing the cash and revenue stabilization that is attractive to lenders and investors; however, it does provide cash challenges during the development stage.

Innovation happens here! Learn how you may be eligible for a Scientific Research & Experimental Development (SRED) grant which can provide significant assistance towards your upfront development costs. Book a meeting with us today!

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