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The SaaS CFO

Ben's posts on Saas Metrics and Forecasting
  • SaaS

How to Structure Your SaaS P&L

Posted on April 5, 2022April 16, 2025by Ben Murray
SaaS P&L

The SaaS P&L is critical to the management of your SaaS business. I talk about the SaaS P&L (profit and loss statement) almost every week with SaaS founders, finance, and accounting teams. At this point, I’ve reviewed hundreds of SaaS P&Ls (also called an income statement). I’d say about 90% of them are structured incorrectly, […]

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  • CAC Payback Period

How to Calculate Your Overall CAC Payback Period

Posted on March 8, 2022March 8, 2022by Ben Murray
Dollar-based CAC Payback Period

Customer acquisition cost, or CAC, is a ubiquitous SaaS metric. It’s a core sales and marketing efficiency metric. CAC measures the amount of expense to acquire a new customer and the associated revenue from that customer. However, CAC as a standalone measure does not tell us much. We need context. This context comes in the […]

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  • Customer Acquisition Costs

How to Assess Your CAC Profile

Posted on February 9, 2022February 9, 2022by Ben Murray
assess your cac profile

When I was a CFO at a private equity (PE) backed company, I was always a little envious of the PE folks. They got so many investment looks at different SaaS companies. And they built their SaaS muscle through the management of their SaaS portfolio companies. That’s changed now that I’m a fractional SaaS CFO. […]

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  • Forecast

Simple Financial Planning for SaaS Founders

Posted on December 7, 2021December 7, 2021by Ben Murray
simple saas financial planning

The fourth quarter is traditionally “budget season.” For those in financial planning and analysis (FP&A), you may be cringing at reading the words budget season. I cringe when I think about the many budget memories and late nights at public companies. Is v.21 of the Board deck ready? Ugh. Founders, we are not going down […]

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  • Cash Flow

How to Calculate Your Cash Burn Rate

Posted on November 8, 2021November 21, 2021by Ben Murray
cash burn rate

Cash is always king. Forget SaaS metrics…no, just kidding. Whether you are a startup or an established SaaS company, cash is always on your mind. It’s not just “do I have enough” cash. It’s also where in my company do I invest the cash. Understanding your cash burn rate is a critical factor in how […]

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  • Operating Expenses

How to Benchmark Your OpEx Profile

Posted on October 12, 2021April 29, 2025by Ben Murray
SaaS OpEx Benchmarks

When I review a SaaS P&L for the first time, I take a high-level approach to understand the financial health of the business. I break the P&L into two sections, the “top half” and the “bottom half.” The top half contains revenue, COGS departments and our gross profit. The bottom half contains our operating expenses […]

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  • Chart of Accounts

What Should Be Included in SaaS COGS

Posted on September 27, 2021April 1, 2025by Ben Murray
SaaS COGS

What should I include in SaaS cost of goods sold (COGS)? This is a very common question from SaaS founders and finance teams. It’s also an important question and something that you need to get right. The proper coding of SaaS COGS versus operating expenses (OpEx) is important for many reasons. First, we must understand […]

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  • FP&A

Financial Planning and Analysis | Key to Strategic Finance

Posted on September 7, 2021September 8, 2021by Ben Murray
Scaling FP&A

As SaaS companies scale, there is an important function that must be added to your finance org chart. This function is the financial planning and analysis (FP&A) department. I rose through the ranks of the FP&A in public companies, so I have experienced all shapes and sizes of this critical department. Fundamentally, an FP&A team […]

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  • SaaS Valuations

SaaS Valuation Tips for Founders

Posted on August 15, 2021August 15, 2021by Ben Murray
SaaS Valuations

SaaS valuations can be a tricky subject for founders. There’s a ton of info on the Internet, especially for public SaaS companies. Unfortunately, for private SaaS companies, there is only random valuation data and rules of thumb. There are no hard and fast rules that pinpoint the value of your private SaaS company. To help […]

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  • SaaS CFO

The Role of the SaaS CFO

Posted on August 2, 2021August 2, 2021by Ben Murray
Role of the SaaS CFO

I speak with many SaaS teams who do not have a CFO or finance team yet.  The focus is on product, go-to-market, and building out your team to support revenue delivery.  Then, you’re at several million of ARR and realize that you can’t manage your business with just your bank account and poorly formatted and/or […]

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