How Fincome can Revolutionize your Financial Reporting – an Interview with Clement Aubert

In finance, it’s crucial to have access to streamlined and efficient tools. Too often, CFOs have to spend entire days out of their busy schedules creating financial reports without the certainty that these reports are fully reliable. 

At Fincome, we provide a range of tools to SaaS to better understand their finances. We aim to empower C-Levels to increase their productivity by letting them create comprehensive analyses and reports that they can easily share with their team or investors. 

We spoke to Clement Aubert, the CFO of iPaidThat, to hear how our solution had revolutionized the way he works. Here’s what he had to say about his experience with Fincome.

What is iPaidThat ?

iPaidThat is  a cutting-edge tool designed to automate and simplify the billing process. 

Offering comprehensive support for financial and accounting management, iPaidThat is the trusted choice of over 100 accounting firms, with thousands of users benefiting from its capabilities each month.

The challenge: Clement was spending hours aggregating data to prepare his financial reports

We first asked Clement what his work was like before he started using Fincome. He shared how time-consuming it was to aggregate homogeneous and reliable data to prepare his financial reports, especially when using Excel spreadsheets. 

The problems with spreadsheets

“I used a lot of spreadsheets, which proved to be very time-consuming and inefficient to share my analyses.”

Negative impacts on employees

Struggling with Excel sheets is a common problem. According to the State of Software Happiness Report 2019, more than half of respondents shared that they have been unhappy at work because of the software tools they are using.

The survey shared some other eye-opening statistics: almost all (95%) said that they would be ‘satisfied’ or ‘very satisfied’ at work if they had access to better software tools. Software also impacted their productivity, as 62% of respondents weren’t reaching their potential (maximum productivity) because of mismatched software. 

Spreadsheets are often unreliable

Spreadsheets are often quite unreliable, as people are likely to make mistakes. A 2013 MarketWatch article found that a staggering 88% of spreadsheets had errors in them. 

“Now, with Fincome, with just one click to connect my Stripe Billing account, I can access all my Top Line data. I’m thrilled because with a single tool, I have access to all my data, which is always reliable and up-to-date.”

The problem of using multiple tools

Clement also struggled to find accessible and reliable data sources he could use anytime. 

He used multiple tools, but they required a lot of time and energy to work: they had to be set up by the IT teams, who then needed to communicate with the CEO, who, in turn, was also required to verify a lot of parameters for these tools… 

The solution: Gather all this data automatically and reliably to quickly produce financial reporting 

“Now, with Fincome, I can gather all this data automatically and reliably to produce my financial reporting within an afternoon. I no longer have to lose a week, as Fincome automatically provides all the KPIs and metrics we follow.”

Clement’s testimonial highlights the importance of automation to boost productivity. Properly setting up some tools (like Tableau or Google Data Studio) requires a lot of time and energy. Management teams need to invest more time in training employees to use said tools. 

Nowadays, most SaaS get their KPIs and dashboards through automated reporting. They use tools that provide them with higher-quality, readily available data.

These tools are largely replacing traditional spreadsheets. They automate the collection, storage, and processing of data and convert it into KPIs and graphs.

With this automation, users can thus focus on analyzing their metrics and making strategic decisions. 

Fincome provides its users with SaaS-specific KPIs, which offer a real-time understanding of subscription management and performance directly deriving from their billing systems and CRM. 

The result: Improved collaboration and productivity

“I can say with confidence that Fincome has let me save time and drastically increase the whole team’s productivity on a day-to-day basis. I used to spend entire afternoons, or even days, trying to create financial reports and analyses, whereas now I automatically have all these reports centralized. And, importantly, I know that the data I have is both reliable and trustworthy.”

Using automation tools can increase productivity in a variety of ways:

• Getting data: users don’t have to find data from various sources and enter manually, which saves a significant amount of time.
• Making mistakes: with automated calculations, the tools reduce the likelihood that you will make mistakes in reporting. This means that you will waste less time checking for and correcting reporting mistakes. 

Automation tools are also vital to improve collaboration:

• Accessibility: with shared dashboards and collaborative features, various teams can work together to ensure they are aligned and all understand these financial reports.
• Standardization: automation tools ensure that all reports are standardized so that they are easy to share and compare. 

“Collaboration is crucial at IPaidThat, as we share daily a lot of information between different teams to operate efficiently. Fincome lets me grant specific access to certain teams, such as sharing data on churn and retention with the support teams or growth and Top Line analyses with management. And, with one click, I can share all this information with our shareholders, as we are VC-backed.”

Clement’s experience clearly shows how Fincome can transform a company’s approach to financial management. Gone are the days of laboriously constructing reports over extended periods! 

Fincome will not only save you time as a CFO, but will also ensure that the data you share is reliable and trustworthy. Fincome also facilitates seamless collaboration among teams, as reliable information can easily be sent from the CFO to their various teams.

With Fincome, CFOs can navigate complex financial landscapes with newfound agility, precision, and confidence.

If you’re eager to discover how Fincome can elevate your business, explore the testimonials from our satisfied customers.

‍Don’t hesitate to contact us to start streamlining strategies for tangible growth and enriching your strategic acumen!