Your SaaS advisory platform choice is a strategic, business growth decision, not just an expense line item. Here’s our 7 step guide to what you should evaluate before the commitment to a SaaS vendor relationship:
1. Think Investment, Not Cost
When selecting and working with vendors, consider how their software can help you deliver higher-value advisory services, improve client outcomes, and increase recurring revenue. Used well, advisory-specific software in the reporting, forecasting and consolidation eco-system should allow you to 10x or even 100x any cost incurred – dwarfing the monthly subscription.
At Spotlight Reporting, every firm who invests at the SuperVCFO level or above gets an experienced, human Customer Success Manager to help you on strategy, execution, monetisation and team education. In addition, our very experienced Education, Training and Support team ensures that you receive professional training (this is recorded too) and are on call to help 24/7. Throw in our thought leadership resources and Transform in Action course (also included), and you are well supported to maximise your investment in advisory. Few if any competitors invest in you like this, post-sale – so make sure you ask about this critical aspect of the vendor relationship.
2. Vendor Pedigree & Advisor Focus
Choose vendors with proven track records in accounting or financial services. A vendor who already serves advisory-focused accounting firms provides confidence that their tools are designed with your needs in mind. How long have they been in business and are they investing in and committed to the mission?
Spotlight Reporting was founded in 2011 and works with over 2,000 accounting firms and CFOs globally. The business has been a multiple award-winner and is a top app in multiple software eco-systems. We are advisor-first (we have been successful advisors ourselves), and won’t undermine or distract you with an SMB marketing play.
3. Leadership, Team & Ownership
The leadership and calibre of the team members behind the product and associated services matter. Vendors led by professionals with “accounting DNA” and industry-specific expertise translates into smarter product development, practical features and human-supported solutions that can make a massive contribution to your practice requirements, and the success of your advisory strategy.
Vendors with deep experience in accounting technology and advisory services bring an additional layer of valuable insight to your challenges. Look beyond sticker price and Sales promises for true alignment and expertise on tap.
Also, if the product you are assessing is now part of a larger company or has changed hands, research the parent company’s history with accounting software. Consistent ownership with a strong commitment to investing in acquired software is a positive signal. Conversely, frequent failed acquisitions may signal future product development and support woes.
Spotlight Reporting was founded and is led by accountants (two FCAs, no less) and has a wealth of accounting and software industry expertise and long experience to call on throughout the team. We are independently owned and don’t just sell software. We believe in our mission to empower accountants to be advisors through resonant product and world class humans!
4. Customer Validation
What is the calibre of existing vendor customers? Why did they buy? Are the exacting big firms well-represented as well as smaller, progressive firms? Do the client success stories and existing customers resonate with your advisor journey and can the vendor provide referrals from similar firms as validation of successful ROI?
Every quarter, over 100,000 businesses benefit from a report, dashboard, forecast, or consolidation output from Spotlight Reporting. We work with 9 of the Top 10 firms and thousands of others of all sizes and shapes, including CFO-led groups and networks. Increasingly, we support the ESG reporting of businesses and advisors globally. Our vendors stay with us on average for several years and hundreds have worked with us for a decade or more.
5. Clear, Transparent Pricing & Scope
In a world in which there can be more noise than substance, be sceptical about pivots and promises. Advisory firms need predictable costs and trust that the goal posts won’t materially move on them. Look for vendors with simple, transparent pricing models that clearly state what’s included - such as integrations, training, and ongoing support. Avoid surprises like hidden fees or add-ons that complicate your budgeting and reduce profitability. Be wary of “free” offers with unclear forward pricing and ever-changing exclusions or promises; this often ends badly!
At Spotlight Reporting our price points allow for growth and ‘next levels’ of client use and monetisation. Our pricing is clear, consistent and rarely changes despite our level of ongoing investment. All features and functionality are included, as is ISO-certified security and privacy management. If you’re confused or uncertain by vendor promises, or having to add extras just to get what you need – beware of shifting sands and a potential future gouge if you have been brought on via ‘special’ terms.
6. Features, Functionality & Outputs
Obviously you want to know what the software is capable of and how usable this is for your purposes. Features and functionality change over time and understanding the current state and best use case is very important, as is future investment. Sometimes, adjusting your approach or mindset on which outputs, data insights and narrative you can share is an advantage of working with an industry-experienced vendor; they work with many other successful advisors and can share invaluable intel.
Spotlight Reporting has not only created software from direct customer interaction – searching for and identifying those ‘lightbulb’ moments where true insight lands – but continues to work closely with advisors and CFO’s to ensure features, functionality and outputs are most useful for (a) saving them time and effort, (b) helping them look and feel good about this pillar of their advisory and (c) maximising outcomes with end-clients. Our five products have been demarcated to serve particular needs and client types (or journey stages), deliberately allowing for a step-by-step, multi-faceted approach to scaling advisory.
7. Robust Product Roadmap
Your advisory business will evolve, and so should your software. Partner with vendors who have a clear, forward-thinking product roadmap focused on advisory innovations like AI, multi-year cash flow forecasting, and client collaboration features. This ensures your tech stays cutting-edge and competitive.
At Spotlight Reporting, we share our Product Roadmap publicly every year. Our customers in their hundreds (and our competitors!) mark this in the calendar, and we’re in conversation with accountants, bookkeepers and CFO’s every day. We utilise not only our own industry DNA but constant feedback loops to inform our pathway forward, with an ‘advisory first’ strategy.
In Summary
For accountants growing advisory services, SaaS vendor selection is a strategic investment that impacts your firm’s revenue streams, profitability and client relationships. Focus on vendors with accounting pedigree, transparent pricing, industry-aligned advisor-first products, stable ownership, and a compelling roadmap. This approach will help you maximise ROI, deliver superior advisory value, and monetise your SaaS investment effectively over many years!
