Software as a Service (SaaS)

Monthly management accounts built for SaaS, not adapted from a generic template. We report on ARR, MRR, churn, lifetime value (LTV), CAC, and gross margin, alongside forecasting dashboards that are ready to put in front of an investor, not just your Board.

For SaaS businesses without a full in-house finance function, we provide strategic finance leadership, budgeting, and Board-level reporting that scales as you move through funding stages, without the cost of building the function in-house before you need it.

Financial models and forecasts built for the round you are running, alongside due diligence support and investor reporting packs. We know the SaaS metrics investors assess and the questions a venture capital (VC) due diligence process will ask.

Software development claims prepared by our dedicated R&D team, with detailed supporting reports that reduce the risk of HMRC enquiry. We also advise on Enterprise Management Incentive (EMI) and other share option schemes used to attract SaaS talent, alongside international tax planning as you expand.

As SaaS companies scale, the business model itself evolves, typically from a development company into a sales company, with the balance between the two shifting through each phase of growth. International growth that follows creates the opportunity, and the need, for a smart group structure, where intellectual property and trade are managed to optimise for both growth and tax.

We help businesses not yet at that stage grow into it without unnecessary friction. Where a business has already scaled internationally without the right structure, we help unpick it and move into one that works, whether that means preparing for a sale or simply running the group more nimbly with better governance.

Guidance on when a SaaS business needs an audit or assurance work, and what governance and Board reporting an investor will expect. We prepare growth and acquisition-stage SaaS businesses for audit readiness before it becomes urgent.

Valuation, acquisition readiness, due diligence, and exit structuring for SaaS businesses, whichever outcome the shareholders want. More on how we approach SaaS valuation below.

Subscription revenue creates a gap between when revenue is recognised and when cash is received. That gap produces a profit and loss, balance sheet, and cash flow that need to reconcile and be explained, something a generalist accountant is less likely to catch early. We act for a wide range of SaaS and subscription businesses, helping them scale, raise funding, exit, or simply run profitably for the long term, whichever outcome the shareholders want.

Yes. We are experienced in raising both debt and equity funding at multiple stages. Pre-revenue SaaS companies without a management team with a track record of prior exits are a harder market at present. Post-revenue businesses with good growth and an experienced management team are a market we support well.

Yes, in most cases. Get in touch to find out what your business could claim.

There is more than one valid way to measure both, and different investors define them differently. What matters most is defining your accounting policy clearly and reconciling MRR and ARR back to the profit and loss and cash flow statements, particularly ahead of a fundraise or sale. Tracking the numbers is only half the job; understanding what they imply through the rest of your financial statements is the other half.

SaaS valuation has moved from a multiple of recurring revenue, to forward recurring revenue, to a premium for meeting the rule of 40, followed by a broad decline in multiples. Today, premiums are paid for SaaS businesses with a genuine barrier to entry, not simply for being SaaS. The market has become more polarised: businesses without a real barrier are seeing valuations fall, while those with one are commanding stronger premiums than ever.