We recently interviewed eSentire Senior Director of Finance, Aleksandra Baran, and Accounts Receivable Specialist, Sandra Stagg, at their office in Cambridge, Canada. Both Baran and Stagg are power users of Tensoft’s revenue recognition and contract management solution. They discussed eSentire’s move to Tensoft RCM, and how it has helped them with their revenue recognition, billing and contract management processes.
View the customer success video here or read the transcript below:
Video Transcript:
Aleksandra Baran, Senior Director of Finance:
eSentire provides cyber security services to mid-sized businesses and keep them safe from constantly evolving cyber-attacks. Currently the size of the company counts around 300 employees worldwide and over 500 clients worldwide as well. The company has experienced a significant growth which is still ongoing and therefore we quickly realized that we have outgrown the system. Therefore, the search was done to look for something that is more scalable and flexible at the same time, as well as provide us functionality that we need.
Sandra Stagg, Accounts Receivable Specialist:
So, we started implementing the Tensoft RCM at the end of the year last year, that is 2015. And it was actually a really simple process. We had some internal changes as well with our own accounting system which kind of overlapped with the implementation of Tensoft RCM. But the project team at Tensoft were really great in helping us to get through all of those hurdles and they were great with any questions that we had and they made it really simple and smooth.
Aleksandra Baran, Senior Director of Finance:
It is very important that the revenue recognition is done properly. So, my first thought when I joined was absolutely moving back to the spreadsheet based excel type of scenario where I could not trust the system that was previously in place but I could be more of in a control of a spreadsheet. So definitely Tensoft eliminated all that. We didn’t have that visibility, what will be happening into the future of all this deferred revenue balances that we were having and now we can actually forecast a little bit better.
Sandra Stagg, Accounts Receivable Specialist:
One of the most helpful parts of Tensoft RCM is the e-mail notification. We have our sales team do a lot of reaching out to the clients at the renewals stages in their contracts and it really helps them stay on top of everything that’s going on with the renewal expiration for expansions and optics and things like that. This is a way to help notify everyone that’s something that contract is coming to an end so that everything runs smoothly.
Aleksandra Baran, Senior Director of Finance:
The other feature that I really like is the reporting side of things. We were very limited in terms of visibility of the contract length of the upcoming renewal dates. Even extracting client information out of the previous system was a challenge. So, the reporting in that number and the data that we are being able to extract from Tensoft is absolutely significant and important to us.
Sandra Stagg, Accounts Receivable Specialist:
In the information tab in the Tensoft RCM you can store so much information in there. So, we have a lot of our clients have a lot of sensors in different locations and every client has a different Salesforce ID that are specific to them. This is a great way for tracking internally for our sales team and accounting especially when they’re doing comparisons between budgets and actuals and things like that. So, it’s a great tool to have.
Aleksandra Baran, Senior Director of Finance:
Right now, we gained so much visibility to how the numbers flow through. We’ve gained time basically that we spend on more important things rather than keying and recalculating everything.