TrueRev is a financial operations platform that automates order-to-cash processes, including revenue recognition and billing, for B2B SaaS companies. By eliminating reliance on spreadsheets and ensuring compliance with ASC 606, TrueRev provides real-time subscription metrics and reduces manual errors, saving time and increasing accuracy in financial reporting.
Funding
$1M raised to dateRaised to date based on public sources. This may differ from the amount the company actually raised and is based only on what is publicly available on the internet.
Founders
Product
Problem
B2B SaaS companies often struggle with manual, error-prone revenue recognition processes using spreadsheets, leading to inaccuracies, compliance issues, and wasted time. Managing deferred revenue, generating subscription metrics, and ensuring auditability can be particularly challenging.
Solution
TrueRev is a financial operations platform designed to automate and streamline order-to-cash processes for B2B SaaS businesses, ensuring compliance with ASC 606. The platform eliminates reliance on spreadsheets by automating revenue recognition, billing schedules, and deferred revenue accounting. TrueRev provides real-time subscription metrics such as MRR, ARR, churn, and bookings, empowering key decision-makers across departments with accurate financial insights. By automating these processes, TrueRev reduces manual errors, saves time, and increases the accuracy of financial reporting.
Target Audience
TrueRev primarily targets B2B SaaS companies, particularly SMBs using QuickBooks, that need to automate revenue recognition, ensure compliance, and gain real-time insights into their subscription metrics.
Features
- Automated revenue recognition and deferred revenue management
- Billing automation for monthly, quarterly, and annual invoices, with direct integration to QuickBooks
- Real-time SaaS metrics, including MRR, ARR, gross and net retention, logo count, and churn
- Contract workflow management to track agreements and contract events like new deals, upgrades, and cancellations
- Revenue schedules that ensure compliance with ASC 606
- Journal entry automation and shared reports for auditable revenue
- Document management for contracts and related financial documents
- Continuous syncing with QuickBooks to maintain data accuracy
- Integration with Salesforce, Hubspot, Stripe, NetSuite, Xero, Intacct, and Avalara (coming soon)