Update: we’ve updated the model to v3.1 with a small bugfix regarding sales ramp up prior to the modeling period and sales effectiveness calculations. The links are updated to the new version.
It’s already been several months since we published version 2.0 of our B2B SaaS financial model (see my previous blog post) and again we received a lot of very helpful and encouraging comments and reactions on it in the meantime — thanks a lot to all of you who contributed! That made us keep up the good tradition and further work on our template, incorporating much of the feedback we’ve received and further expanding it so that it becomes an ever more helpful resource for all SaaS entrepreneurs out there.
The first and second version of our financial model have mainly been concerned with financial planning and creating a healthy business plan for SaaS businesses and SaaS-enabled marketplaces. However, tracking actual numbers & metrics and checking how they compare against the original budget is at least equally important as having a good plan (see also our blog post on which key B2B SaaS metrics to track). Therefore, we decided to put our focus on that topic for this new version of our template and added new sheets for tracking actual company performance and comparing it to the budget. Also, we added a dashboard which gives a quick overview of the company’s overall performance and can also serve as a management summary when reporting to your investors or shareholders.
So now, we are very happy to release version 3.0 of our financial model!
If you have any comments or suggestions, I would love to hear from you either in the comments below or via email: andreas(at)senovo(dot)vc!
Below, I outline the major changes and additions we made to the template:
- We renamed the tabs “SaaS”, “Marketplace” and “Combined Financials” to “SaaS — Budget”, “Marketplace — Budget” and “Combined Financials — Budget” to make their purpose more clear.
- Also, we added a “Notes & Explanations” sheet that helps you navigate through the financial model
- For now, we concentrated on the SaaS part of the model and did not create actual and comparison sheets for the Marketplace. However, the structure of the SaaS sheets should be a good blueprint if you’d also like to incorporate the Marketplace part into your actuals reporting.
Tab “SaaS — Budget”
- We made the ramp-up/learning curve for new sales employees more flexible, so that now also non-linear or faster ramp-ups can be modelled (see cells J118:O118).
Tab “SaaS — Actuals”:
- This tab’s structure is very similar to the “SaaS — Budget” tab. Here you are able to put in your actual KPIs and numbers. As in all other sheets, only yellow cells need input and white cells are calculated automatically.
Tab “SaaS — Budget vs. Actuals”
- This tab is calculated automatically once your budget and actual numbers are inserted and gives a summarized overview of the most important KPIs and numbers from your budget and actuals.
- Actual numbers in red indicate that you are performing below the plan, actuals in green indicate overperformance.
- There is a filter in column A, which allows to filter for budgeted/actual numbers.
Tab “SaaS — Dashboard”
- This tab serves as a management dashboard and gives a quick overview of the company’s overall performance.
- The first section provides an overview of the most important KPIs and the performance against last month and the budget.
- The second section shows the development of the most important actual numbers over time in several charts.
- You can choose the reporting month in cell E3 (marked yellow), but be sure to enter the actual numbers for the respective month in the “SaaS — Actuals” tab first.