Stripe Integration: Your Company’s Financial Metrics in Slack
Stay on top of your money with daily digests
Before Statsbot, the founders were all too familiar with the various platforms needed to extrapolate data every day — and the hours it took to do so. Google Analytics, Salesforce, Mixpanel, Stripe — log in, run reports, and compile statistics in Excel. On top of all that, they then had to build graphs and charts to demonstrate anything from website performance to marketing ROI.
Believing that analytics should be accessible and simple, they created Statsbot.
Today we’re happy to release the integration with Stripe — the most popular platform for online payments. Now Statsbot can tell your revenue, number of active customers, new subscribers, and so on.
With Statsbot, you only need one platform to get the easy access to numerous data sources via simple text queries. One of our key goals is to increase a number of integrations to give our users access to more data sources.
More than 50,000 companies use Stripe including ‘unicorns’ like Blue Apron, Docker, DocuSign, GrabTaxi, Glassdoor, Instacart, Kik, Lyft, MongoDB, MuleSoft, Square, and Quora.
Stripe operates info about your money streams, so this data source is critical for every business.
There are several applications which allow to visualize data from Stripe. The great advantage of Statsbot solution is the easiest and fastest way of getting and sharing information with the whole team.
How to use Stripe integration
You can connect Statsbot to your Stripe account in under 2 minutes. With our new Stripe integration, Statsbot receives your raw data, and then analyzes and processes it, providing you with information via natural language.
Ask Statsbot in channels or direct messages: “@statsbot What is our MRR today?” or “@statsbot active users this week” — and you’ll get a beautiful, simple chart with data from your Stripe account.
You can request Stripe metrics, simply navigate through commands by buttons, change the time range and compare your data with the previous period.
You can also get the summary of these metrics and save it to Dashboard to keep an eye on revenue. Or you can set up a goal for Stripe metrics to stay on track with your cash flow.
What do Stripe metrics mean?
Since Stripe is a payment platform, all its metrics relate to money. Let’s have a look at the most important metrics which you can request Statsbot right now — just type “@statsbot name of the metric”.
MRR. Monthly recurring revenue is the ultimate force behind any SaaS business. It’s the summary of all your monthly active subscription customers, minus any discounts.
Your MRR grows with an increase in new customers, returning customers, or upgrading customers. MRR decreases when users cancel the subscription or downgrade.
Active Customers are the people which pay you money. So this metric exclude those who are on a free plan, test trial, have full price discounts or have paid you for a one off purchase but not a subscription.
Revenue is net revenue — all money received from selling minus all costs that you need to pay.
ARR. Annual run rate is the current value of your business as a predictor of future performance over the next year. It’s calculated as MRR x 12.
New Subscriptions is the metric of all subscriptions in a specific period, for example in last month. It’s not the same as active subscriptions which means all subscriptions at the end of a period.
