Hardfin’s Post

A hardware subscription is a physical asset connected to a recurring billing plan. Finance teams face a big challenge: how to tie hardware activity to subscriptions. This process is called a hardware finance reconciliation. 📆 Assets may have been newly delivered or deployed. Which milestone will trigger invoicing? ❗️ Assets may not be functioning as intended. Will those assets be billed? 📊 Assets may have usage data. How are metrics calculated to generate invoices? 📈 Amounts may be variable. How will line items be adjusted? 💰 Sales taxes vary by jurisdiction, line item, the full bundle, and leasing status. What method is used to calculate tax? 🔁 Recurring charges may start at multiple times, or need to be consolidated. Which invoices can be combined? No other business model comes close to this level of complexity—it’s why SaaS billing software is inadequate for modern hardware companies. That’s where Hardfin comes in: to help you take charge of your hardware financial operations. Sound familiar? We’d love to hear from you. #hardwareasaservice #haas #deviceasaservice #daas #machineasaservice #maas #equipmentasaservice #eaas #servitization #managedservices #hardwarefinancialoperations #finance #accounting #billing #reconciliation

Why settle for manual finance processes when automation can boost efficiency and insight? Our Finance Process Automation solution includes invoice processing, cash allocation, and expense management, allowing your team to focus on high-impact tasks. By using tools such as automated data capture and processing invoices in the cloud, you can save money, reduce mistakes, and speed up approvals. You will also get immediate insights into cash flow and spending habits to make better decisions. Discover the future of finance processes ➡ https://lnkd.in/gQ7Hsjhv #financeprocessautomation #automatedsolutions #financeprocesses #cashallocation #invoiceprocessing

Software subscriptions (SaaS) have been around for 20 years. Hardware subscriptions (HaaS) are new — the equipment industry is still in the early days of transition. Over the past decades, software grew up to support SaaS companies. HaaS companies haven’t had that luxury. What’s worse? HaaS is significantly more complex than SaaS! With physical assets in the mix, hardware companies have a harder problem to solve: hardware financial operations. This is the complex work managed by sales, operations, and finance. Hardware financial operations include: 🚚 hardware tracking 💰 finance and leasing 🔄 subscription management Before Hardfin, there wasn’t a software solution to support HaaS companies. They would have to struggle with spreadsheets and systems at enormous cost of both time and money. Hardfin automates hardware financial operations to provide unified reporting (fixed asset tracking), collect cash faster (billing management), and mitigate risk (accounting automation). #hardwareasaservice #haas #deviceasaservice #daas #machineasaservice #maas #equipmentasaservice #eaas #robotsasaservice #raas #servitization #managedservices #hardwarefinancialoperations

Wondering how to streamline your utility billing process? MuniBilling's software can digitize and automate everything, from meter reading to service orders. #Efficiency https://hubs.li/Q02y9JKF0

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Can your finance tech stack handle modern usage billing? via Sage: https://bit.ly/3v6VBUI. "In today’s SaaS landscape, billing has become an essential component of streamlining business operations and staying profitable. The evolution of SaaS billing has transformed it from a basic backend process to a crucial driver of user retention and subscription revenue. That’s especially true for modern and flexible pricing models such as usage billing. In this blog, we’ll explore 1) Why usage billing is becoming more common for SaaS companies, 2) The billing limitations of legacy finance tools, and 3) The key elements that modern SaaS companies need in their tech stack to handle usage billing. Let’s dive in. The evolution of SaaS billing Through the years, SaaS billing has undergone a significant evolution. Billing has gone from a siloed backend function to a core aspect of meeting companies’ business goals. In particular, usage billing has become much more popular among SaaS companies because: It removes the psychological barrier of fixed pricing for your users. It allows SaaS companies to capitalize on different user segments’ interest levels, upselling and cross-selling their top users. Churn levels tend to be lower since customers have more flexibility and choice. This shift toward usage billing in SaaS has necessitated the development of robust technology stacks with backend functionality that can handle modern billing. Let’s take a closer look at the strategic vulnerabilities SaaS CFOs face when using an outdated web stack or technology infrastructure for SaaS billing." READ MORE HERE: https://bit.ly/3v6VBUI IFI is a team of accounting, planning & CRM FinTech professionals. We help complex customers implement advanced integrated back-office systems that deliver business insights. If we can help you, please contact us at (949) 556-3699 or info@IFIprofessionals.com. #IFI #IFIProfessionals #CorporateAccounting #DigitalTransformation #ContinuousPlanning #CRM #FinancialTransformation #RPA #RoboticProcessAutomation

There are three essential accounting standards that Finance/Accounting teams at hardware-as-a-service (HaaS) companies should know. One of those is an embedded lease analysis under ASC 842. 💸 For a hardware-enabled solution with recurring payments, HaaS companies should do an embedded lease analysis. If ASC 842 is only being considered AFTER contracts are signed, that’s a problem. The team should determine the desired revenue outcome — Finance and Accounting should define the parameters required, and use that as a guide to work with Sales and Legal when structuring HaaS contracts. ⚙️ An embedded lease analysis answers important questions: Do you have a lease in your contract? How much of your contract is considered a lease? What kind of lease? It’s common to find leases embedded in HaaS and hardware-enabled SaaS agreements because these contracts involve many components: hardware, software, service, warranties, etc. 🔄 If you’re running a HaaS model and want recurring revenue treatment, ideally you would avoid lease treatment entirely. It’s more likely you’ll get operating lease treatment. But neither is a foregone conclusion, so contracts must be handled carefully. #hardwareasaservice #haas #deviceasaservice #daas #machineasaservice #maas #equipmentasaservice #eaas #robotsasaservice #raas #servitization #managedservices #hardwarefinancialoperations #finance #accounting #sales #asc842

Enterprise billing systems become outdated because they are built incrementally over time. As businesses grow and diversify their services, they tend to add new software on top of existing systems, creating a complex, patchwork solution. This approach often leads to problems, which you may already be dealing with, including: 🔴 Scalability Issues: Outdated systems hinder growth and market expansion. 🔴 Data Security Risks: Legacy systems are more vulnerable to breaches. 🔴 Compliance and Error Risks: Increased potential for errors and regulatory non-compliance. 🔴 Lack of Agility: Difficulty in quickly adjusting service offerings, leading to customer dissatisfaction and churn. 🔴 Competitive Disadvantage: Inability to automate and access real-time business intelligence hampers decision-making and increases costs. Implementing an advanced cloud billing solution that seamlessly integrates with your pre-existing systems is crucial for eliminating all of the above challenges, and we can help. Gotransverse is a robust, API-first cloud solution that automates the handling of your complex, high-volume subscription/usage/consumption-based billing and revenue recognition. Let Gotransverse help you transform your business in 2025 with our innovative billing technology and seamless integration. Learn how: https://hubs.la/Q02VXyYv0 #BillingAutomation #RevenueRecognition #AgileMonetization #SeamlessIntegration

Enterprise billing is truly on the rise, with a projected growth from $650 billion to an impressive $1.5 trillion by 2025. This shift highlights how subscription-based models are no longer limited to content but are expanding across various sectors, from pet products to luxury vehicles. The increasing complexity of these billing systems means that businesses need robust solutions to manage an array of pricing models and subscription types. Enterprise billing provides the agility to automate intricate billing scenarios and offers essential insights through analytics, which can significantly enhance operational performance. What does this transformation in billing practices mean for the future of business? How are companies in your network adapting to this change? https://lnkd.in/eVmze4id

What integration is vital for your expense tracking needs? a) Accounting Software b) Bank Integration c) Credit Card Integration d) All of the Above #coexsys #projectmanagement #saas