What they do. “Enfusion is a global, high-growth software-as-a-service provider focused on transforming the investment management industry. Our solution is designed to eliminate technology and information barriers, empowering investment managers to confidently make and execute better-informed investment decisions in real time.”
Clients are assigned to a team, not just a CS rep. “we assign each client a dedicated service team that works with them from the moment of onboarding and throughout their contract lifetime. The continuity in the servicing team assigned to each client ensures that our clients are continuously interfacing with dedicated Enfusion employees”
The market is small, even though it’s global. “We believe we are the leading cloud-native, SaaS provider to the global emerging fund and hedge fund sector. For the year ended December 31, 2020, we generated approximately 67.9% of our total net revenues in the Americas and approximately 32.1% of our total net revenues outside of the Americas.”
But it’s not a clean calculation as it excludes bankruptcies of clients. “We define involuntary cancellations as accounts that were cancelled due to the client no longer being in business. We identify involuntary cancellations to be excluded from our Net Dollar Retention Rate calculation.”
Contracts are poorly structured. “Most platform subscription contracts have a one-year term and are cancellable with 30 days’ notice. Installment payments are invoiced at the end of each calendar month during the subscription term. We have a limited number of contracts that are non-cancellable. We have determined the impact of these contracts is not material on our pattern of revenue recognition.”
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