Centage SaaS pricing is 5x legacy on-premise annual maintenance fees
Barry Clapp · 809: How This $12m Accounting Biz Moves from On-Prem to SaaS Model · Oct 11, 2017 · at 10:22
Centage CEO Barry Clapp explains the price differential between legacy annual maintenance fees and new subscription pricing for Budget Maestro 9.
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“If you were to approach us today and want to buy Budget Maestro Nine, our new product, you would pay something much more, maybe five times as much as a current customer is paying for their annual maintenance and support.”
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More from Barry Clapp
Centage derives roughly one third of revenue from onboarding and training
“About a third of our revenue.”
Clapp: Centage spent $3M-$4M rewriting its on-prem software into SaaS
“And it was an on-prem model until last year. And we converted the product, we invested it on a few, three or four million dollars, and rewrote the entire product. To be a cloud-based, you know, a hundred percent SaaS-based product.”
Centage raised $13.5M total, primarily utilizing $9.5M for recapitalization
“No, 13 and a half million, we raised originally nine and a half million, and a lot of that went to recapitalize the company actually.”
Clapp: Centage's ACV is $35,000 to $40,000 per year
“The average customer is about 35, 40,000 per year.”