Revenue is the key component upon which the success rate of a SaaS business depends significantly. As a SaaS business owner, understanding revenue recognition is crucial for financial success.
In today's global market, Software as a Service (SaaS) businesses have to cater to a diverse customer base that spans various regions and countries.
One fine day, I was manually billing my customers as usual. It would take hours for me to sit and check everything without missing any payments and customers. When handling revenue records, I shockingly found that a particular bill was lost. I was frustrated to the end because that one bill means a lot to me as it would make a huge revenue loss for my business.