Menu
Sign In Search Podcasts Charts People & Topics Add Podcast API Blog Pricing

Derek O'Carroll

๐Ÿ‘ค Speaker
222 total appearances

Appearances Over Time

Podcast Appearances

SaaS Interviews with CEOs, Startups, Founders
Brightpearl $33m Raised, $105m Valuation, $18m Revenue, Targeting $25m by EOY

I've never heard that.

SaaS Interviews with CEOs, Startups, Founders
Brightpearl $33m Raised, $105m Valuation, $18m Revenue, Targeting $25m by EOY

dollar retained revenue.

SaaS Interviews with CEOs, Startups, Founders
Brightpearl $33m Raised, $105m Valuation, $18m Revenue, Targeting $25m by EOY

It's the same number.

SaaS Interviews with CEOs, Startups, Founders
Brightpearl $33m Raised, $105m Valuation, $18m Revenue, Targeting $25m by EOY

It's sort of how much we're selling on top of what we had last year.

SaaS Interviews with CEOs, Startups, Founders
Brightpearl $33m Raised, $105m Valuation, $18m Revenue, Targeting $25m by EOY

And when you look at that 13% churn, about four points of that, sorry, 5% of that is coming from what we call failed implementation.

SaaS Interviews with CEOs, Startups, Founders
Brightpearl $33m Raised, $105m Valuation, $18m Revenue, Targeting $25m by EOY

So customers that go off spec, have issues, have people churn, underestimate training requirements, whatever it is,

SaaS Interviews with CEOs, Startups, Founders
Brightpearl $33m Raised, $105m Valuation, $18m Revenue, Targeting $25m by EOY

And then they get to the 12-month cycle and they don't want to repay again.

SaaS Interviews with CEOs, Startups, Founders
Brightpearl $33m Raised, $105m Valuation, $18m Revenue, Targeting $25m by EOY

So that's what pre-life churn is.

SaaS Interviews with CEOs, Startups, Founders
Brightpearl $33m Raised, $105m Valuation, $18m Revenue, Targeting $25m by EOY

So over the last three years, we've put in place utility-based pricing.

SaaS Interviews with CEOs, Startups, Founders
Brightpearl $33m Raised, $105m Valuation, $18m Revenue, Targeting $25m by EOY

which essentially links our customers to number of orders and their gross GMV, gross merchandising volume that they put through the platform.

SaaS Interviews with CEOs, Startups, Founders
Brightpearl $33m Raised, $105m Valuation, $18m Revenue, Targeting $25m by EOY

And as they grow, they pay less per unit, but they pay more as they grow.

SaaS Interviews with CEOs, Startups, Founders
Brightpearl $33m Raised, $105m Valuation, $18m Revenue, Targeting $25m by EOY

And what we then follow that through was a program of improvements around contracts and then account managers and customer success.

SaaS Interviews with CEOs, Startups, Founders
Brightpearl $33m Raised, $105m Valuation, $18m Revenue, Targeting $25m by EOY

And then we put in place the basics of best practice that would be preached by companies like Gainsight.

SaaS Interviews with CEOs, Startups, Founders
Brightpearl $33m Raised, $105m Valuation, $18m Revenue, Targeting $25m by EOY

So really putting in place

SaaS Interviews with CEOs, Startups, Founders
Brightpearl $33m Raised, $105m Valuation, $18m Revenue, Targeting $25m by EOY

the checks and balances in a calendar to make sure our teams take past value delivered credit from the customer and then point them towards mid-contract upgrade or upsell to new products.

SaaS Interviews with CEOs, Startups, Founders
Brightpearl $33m Raised, $105m Valuation, $18m Revenue, Targeting $25m by EOY

So our DOR is being driven hugely by upgrades in plans because our customers are getting bigger on the platform.

SaaS Interviews with CEOs, Startups, Founders
Brightpearl $33m Raised, $105m Valuation, $18m Revenue, Targeting $25m by EOY

And the number that sort of cites that, which gives us confidence for the future is in 2019, we processed, um,

SaaS Interviews with CEOs, Startups, Founders
Brightpearl $33m Raised, $105m Valuation, $18m Revenue, Targeting $25m by EOY

$3 billion of orders through the platform.

SaaS Interviews with CEOs, Startups, Founders
Brightpearl $33m Raised, $105m Valuation, $18m Revenue, Targeting $25m by EOY

In 2020, that went up to $4.4 billion.

SaaS Interviews with CEOs, Startups, Founders
Brightpearl $33m Raised, $105m Valuation, $18m Revenue, Targeting $25m by EOY

So that gives us lots of headroom.