Suger migrates from QuickBooks to Campfire for improved financial reporting

company overview

• Industry: B2B SaaS

• Headquarters: San Francisco

• Finance tech stack: Campfire, Stripe, Brex, Mercury, Rippling

Results from switching to Campfire:

• Improved investor reporting by increasing the cadence of revenue reporting from monthly to weekly with Campfire’s automation.

• Automated financial statements reduced the time spent performing accounting tasks by 75% after switching from QuickBooks.

• Migrated from cash to accrual accounting as QuickBooks was not able to accurately calculate deferred vs. recognized revenue due to the complexity of Suger’s subscription and usage-based pricing.

Background

Suger enables B2B software companies to sell on cloud marketplaces such as AWS, Azure, and GCP. Jon Yoo, Co-founder and CEO, has a strong financial background, having worked in investment banking, so he knew that he wanted to personally manage the company’s accounting and financial reporting.

The evaluation process

Suger was initially using QuickBooks, but found the product to be focused on features that were irrelevant to them, such as eCommerce sales and time tracking. After seeing Campfire’s dashboard, filled with relevant SaaS metrics like ARR, burn rate, and cash flow, Jon knew he’d found a better fit.

Campfire’s solution: Streamlining accounting workflows and providing additional financial insights for Suger’s next phase of growth.

Suger introduced Campfire and it had an immediate impact on the financial operations including automated workflows that are saving more than a day every month on the core accounting and financial reporting.

Audit readiness

One of the advantages of migrating to Campfire has been the availability of financial data for regular internal reporting and day-to-day executive decision-making, but it’s also critical to have financials that are always up to date for a 409a or when investors reach out for financial statements. Now, Suger is always ready with relevant KPIs and financial data whenever the need arises.

Seamless migration and integration

Suger’s financial stack includes Brex, Rippling, Stripe, and Mercury, so they were pleasantly surprised to see that all those tools integrated seamlessly with Campfire. With white-glove assistance from the Campfire team to migrate historical data, Suger was fully up and running on Campfire in just a few days.

Premium Support

With migration complete and Campfire fully integrated with the financial tech stack, Suger continues to leverage Campfire’s premium 7-day-per-week support for ad-hoc financial reports, accounting best practices, and financial statement reviews, and any new integrations - all included in their Campfire account.

Scaling financial operations

Suger has grown its team and operations rapidly since its inception in 2022. After completing Y Combinator’s famed startup accelerator, the company began looking for accounting software that was ready to scale with the company’s next stage of growth. The Campfire product has always supported Suger’s accounting and financial reporting whether it was for financial reporting, a 409a valuation, fundraise or investor audit.

In Summary

1. Suger saved an average of one full day each month on accounting and reporting tasks by migrating from QuickBooks to Campfire.

2. Suger improved its financial reporting, both internally and externally, using Campfire’s customizable, granular reports and audit trail features.

3. Suger’s management team uses Campfire daily to keep track of key tech startup metrics like burn rate, ARR, and closely monitor cash flow.