MetricFire Enhances Business Analytics with Baremetrics

• Networks & Connectivity - NFC
• Platform as a Service (PaaS) - Application Development Platforms

• Cement
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• Maintenance
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• Leakage & Flood Monitoring
• Real-Time Location System (RTLS)

MetricFire, a small yet powerful team, was facing challenges in efficiently analyzing data from Stripe and segmenting their customers. The company, which offers infrastructure, system, and application monitoring using a suite of open-source monitoring tools, had to delegate billing and financial reporting to their Business Operations Manager, Elliot Langston, due to a team reorganization. Langston was using MetricFire’s Stripe account for these tasks. However, Stripe’s in-app metrics feature was limited to just 16 metrics and often gave misleading Monthly Recurring Revenue (MRR) figures due to occasional bugs and counting non-recurring revenue towards MRR. Langston had to create dummy accounts in Stripe to correct these inaccuracies, a process that was not sustainable and risked billing mistakes. Additionally, Stripe did not allow customization of date views and lacked the ability to segment customer data, making it difficult for Langston to efficiently organize customers by geographic location.

MetricFire is a full-scale platform that offers infrastructure, system, and application monitoring using a suite of open-source monitoring tools. The company allows users to use Graphite-as-a-service to have their metrics displayed on user-friendly and aesthetically-pleasing Grafana dashboards. MetricFire offers five subscription tiers according to the needs of different organization types. Each plan can be run using Graphite with Grafana Dashboards. SaaS companies like SalesForce, Xfinity, Accenture and more rely on MetricFire to visualize their data in real-time and stay on top of their systems. The company is an international team with employees in Japan and the United States.

To overcome these challenges, MetricFire signed up for Baremetrics. Baremetrics’ robust toolset simplified MetricFire’s billing and reporting processes, allowing them to keep their team size optimized and focused on revenue-generating tasks. The analytics tools provided by Baremetrics made it easy to calculate key SaaS metrics and segment customers based on customizable attributes. The MetricFire team started checking the Baremetrics Control Center at least once a day to keep a pulse on financial activity. They could view MRR (recurring revenue only), Net Revenue, Average Revenue Per User, MRR growth rate, and 17 other metrics- all in one place. MetricFire also integrated their Baremetrics account with Slack to get real-time notifications about upgrades, downgrades, and failed charges. The Segmentation tool provided by Baremetrics allowed Langston to organize customers in seconds, saving him a whole business day that was previously spent on this task.

• The adoption of Baremetrics has significantly improved the operational efficiency of MetricFire. The team no longer has to spend hours on spreadsheet maintenance, freeing up their time to focus on product, sales, and customer success. The real-time notifications about upgrades, downgrades, and failed charges have enabled the team to take immediate action, reducing the risk of billing mistakes. The ability to segment customers based on customizable attributes has made it easier for the team to organize customers by geographic location, informing expansion opportunities. Overall, Baremetrics has helped MetricFire stay lean while enhancing their business analytics capabilities.

• Baremetrics saves the MetricFire team approximately 8 hours a month on spreadsheet maintenance

• MetricFire can now view 26+ Stripe Analytics in one click

• Customer segmentation process that used to take a whole business day now takes seconds