Company: SecurityScorecard

Industry: SaaS, Cybersecurity

Solution Used: Tesorio AR Automation and Cash Flow Management

Results: Streamlined collections process, improved forecasting accuracy, significant time savings for the finance team.

“ We've been with Tesorio for over three years. The reason that we keep using Tesorio and renewing every year is because it's not only easy to use, but it’s effective. It pays for itself many times over.” 

- Renee Zuffanelli, Director of Revenue

About SecurityScorecard

Founded in 2014 by security and risk experts Dr. Aleksandr Yampolskiy and Sam Kassoumeh, SecurityScorecard’s patented security ratings technology is used by over 25,000 organizations for enterprise risk management, third-party risk management, board reporting, due diligence, cyber insurance underwriting, and regulatory oversight. SecurityScorecard makes the world safer by transforming how companies understand, improve, and communicate cybersecurity risks to their boards, employees, and vendors. 

The Challenge

Before adopting Tesorio, the small finance team at SecurityScorecard faced significant challenges in managing its collections process. With over 25,000 customers, the workload to invoice and collect revenue was substantial. The team was manually tracking and sending payment reminders, which was inefficient and time-consuming, especially with limited resources.

Additionally, forecasting collections and managing cash flow goals required pulling multiple reports from accounting systems, adding unnecessary complexity to daily operations. As Renee puts it, “One of the biggest priorities for any SaaS company, especially one eyeing an IPO, is to be cash flow positive. Tesorio played a crucial role in helping us achieve that goal.”

The Solution

After implementing Tesorio, SecurityScorecard was able to quickly address its key challenges:

Automated Email Campaigns

SecurityScorecard relies on Tesorio to set up automated email campaigns for payment reminders. These campaigns are tailored for different stages—5 days before due dates, 1 day before, and follow-ups at 5, 10, and 30 days past due—eliminating the need for manual follow-ups.

“I’m essentially a team of one, so the ability to ‘set and forget’ these campaigns is a game-changer,” Renee says. She also estimates that Tesorio saves the equivalent workload of 1–2 consultants daily by automating the process and sending 50–100 emails each day.

Dashboard and Reporting

Tesorio’s dashboard provides real-time insights into weekly, monthly, and quarterly collections, aligning with company cash flow goals. These insights are instrumental during meetings with SecurityScorecard’s CFO, who relies on clear, actionable data to assess progress.

“Tesorio integrates seamlessly with our accounting systems, updating collections data in real-time,” Renee explains. “This saves hours of pulling multiple reports and ensures our forecasts are accurate and up-to-date.”

Cash Flow Forecasting

With integrated data from Intacct and Salesforce, Tesorio helps project cash collections with precision, allowing the team to track progress against goals in granular detail. The forecasting tool has proven essential in aligning weekly and quarterly goals, especially as SecurityScorecard prepares for IPO.

The Results

Tesorio has transformed Security Scorecard’s revenue operations, yielding measurable results:

• Efficiency Gains: Automated processes save time equivalent to 1–2 full-time consultants, freeing Renee to focus on strategic priorities.

• Cash Flow Visibility: The forecasting tool ensures alignment with weekly, monthly, and quarterly goals, aiding in IPO preparation.

• Time Savings: Real-time data syncing and pre-set campaigns significantly reduce the manual workload.

• Cost Savings: “We send hundreds of emails daily via Tesorio—work that would require additional resources without it.”

Renee offers this advice to anyone considering Tesorio to turn revenue into cash: 

“Just sign up for it. It will save you time, streamline your process, and help you meet your cash collection goals.”

Want to see how Tesorio can streamline your collections process, improve forecasting accuracy, and save your finance team valuable time? Contact us today to learn how we can help you achieve results like SecurityScorecard!