Chat with Randy Wootton, CEO of Financial Operations Platform: Maxio

At Maxio, we help B2B SaaS companies unlock their next stage of growth. Our financial operations platform is designed to address the unique financial challenges of B2B SaaS, including invoicing, subscription management, revenue and expense recognition, and SaaS analytics.

We believe that for SaaS companies to unlock their next stage of growth, their finance operations technology stack must strike the right balance between flexibility, which allows them to turn quickly in an ever-changing market, and complexity, which supports them as they advance. scale your business, operations and monetization strategies.

SaaSOptics and Chargify Announce Merger, Rebrand to Maxio |  Commercial Liaison

How has the company evolved in the last two years?

Maxio is the merger of two companies that were industry leaders in their own right: Chargify (B2B billing and subscription management) and SaaSOptics (financial operations and revenue management).

In April 2021, Battery Ventures jointly invested in the two companies with the goal of creating the first fully unified financial operations solution for B2B SaaS. Since then, teams have worked tirelessly to build the Maxio brand and combine the best of each product into a seamless, unique experience, which we launched on September 12. By bringing these resources together, Maxio has successfully created the industry’s first extensible FinOps platform specifically designed to support quoting processes for B2B business insights – an essential solution not only for CFOs, but also for CEOs, investors and other Operators. SaaS business.

By helping SaaS leaders discover the critical financial insights they need to run an efficient SaaS business today, Maxio helps them prepare for whatever comes tomorrow.

What do you think makes Maxio unique?

What makes Maxio unique really comes down to four things.

First, we were built specifically for B2B SaaS, which means our product’s capabilities are rooted in the core workflows that B2B finance professionals oversee, such as:

  • Compatible revenue management
  • Expense and commission accounting
  • Advanced billing capabilities to support a wide range of monetization strategies
  • Automated billing processes

Our customers are some of the fastest growing subscription companies in the world. The rate of change and innovation within B2B SaaS is unlike most and the cost of getting key finance operations wrong can be the difference between proactive and reactive funding, successfully navigating rounds of due diligence and stalling the process and practicing disciplined growth versus burning money in an attempt to stay afloat.

Our due diligence lawyers gave a talk on funding rounds. According to them, the #1 cause of failed businesses is accounting errors. “Buyers look for companies based on all sorts of things, market factors, etc… but in the end, offers are always based on the company’s bottom line.” Maxio helps clients automate their accounting compliance, get paid faster, and keep their feet on solid ground when it comes time to raise funds or sell the business.

Second, Maxio is the only source of truth from quote to insight. As the system of record for billing and collection, Maxio bridges the gap between two other systems of record that almost never match – customer data (CRM and CS technology) and financial data (General Ledgers). Reconciling this data typically costs companies time and confidence in their operational metrics. But Maxio helps bring together customer and business data into a single system of record that enables actionable insights. Specifically, we offer:

  • Enriched business insights into bookings, billing, backlog, revenue, deferred revenue, and ARR
  • Financial operations insights (turnover, revenue, SaaS operational metrics and cash forecast)
  • The ability to click into product-level details for all metrics allows for in-depth forensics across all metrics

Third, Maxio’s out-of-the-box configurability supports complex monetization strategies while allowing for the agility and experimentation of GTM. This allows companies to implement any monetization strategy (usage, contract, tiers, pay-as-you-go, multi-attribute, etc.), allowing finance teams to adjust pricing without requiring developer support.

Finally, Maxio’s extensible platform and commitment to data portability means our customers can integrate Maxio into their current FinTech stack without disrupting their broader monetization ecosystem.

What can we expect from Maxio in the future?

As I look to the future, I couldn’t be more excited about the opportunities ahead for three reasons.

First, we are at a fascinating time in terms of macroeconomic trends. Clearly there will be winners and losers. However, one thing is certain for all businesses: they will need deeper insight into the metrics that matter when running their business today and when trying to raise money tomorrow.

Maxio is a critical system that provides the insights CEOs, CFOs and investors need to better understand what is and isn’t working with a company’s monetization strategy and tactics. More importantly, these leaders can translate these insights into action immediately, so their companies can confidently navigate an ever-changing market.

Second, after four months as CEO and having the opportunity to meet many of our employees, I couldn’t be more impressed with the talent we have and the roadmap we have planned. With smart operations and world-class investors behind us, Maxio is in a position to change the way B2B SaaS companies work, helping them operate more efficiently, scale faster and reach more customers.

Third, I’m inspired by the wide range of businesses we’re trying to help. I’ve met many of our customers, and they’re not giants like Snowflake. It is the companies that will become giants like Snowflake. We are working with dreamers and innovators, providing them with the tools they need to build revolutionary B2B SaaS businesses.

I’ve been in the tech space for some time now, and I know how rare it is to find this unique convergence of talent, technology, opportunity and broader industry trends. I firmly believe that because of all these factors that we have worked for us, we will be the number one financial trading platform in the industry by 2024.

As our team likes to say, “Come on, Maxio!”

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