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BareMetrics > Case Studies > Sync with Connex: Recovering Lost Revenue and Optimizing Operations with Baremetrics
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Sync with Connex: Recovering Lost Revenue and Optimizing Operations with Baremetrics

Technology Category
  • Platform as a Service (PaaS) - Application Development Platforms
  • Sensors - Level Sensors
Applicable Industries
  • E-Commerce
  • Finance & Insurance
Applicable Functions
  • Procurement
  • Sales & Marketing
Use Cases
  • Building Automation & Control
  • Time Sensitive Networking
Services
  • System Integration
The Challenge

Sync with Connex, a successful SaaS company, faced several challenges in its growth journey. The company needed to track data from Stripe, recover failed credit card payments, and optimize their cancellation flow. They were also struggling with manual data entry, a tedious and error-prone task that consumed significant time and resources. Additionally, they were using PayPal for processing payments, which offered little additional value and lacked the necessary reporting tools. The company was essentially operating with limited visibility into important customer details. The lack of an effective dunning system led to failed payments and a high volume of customer complaints, which further strained their customer success team.

About The Customer

Sync with Connex is a multi-million dollar SaaS company that offers a 3rd party integration tool to automate data entry between QuickBooks and e-commerce channels, payment processors, and shipping solutions. Since its launch in 2010, it has helped over 5,000 businesses simplify their workflows, prevent input errors, and save time for more important tasks. The company offers two products: Connex Desktop for users of the desktop version of QuickBooks, and Connex Online for users of the cloud-based version. Both versions allow business owners to integrate with over 25 e-commerce solutions and automate data entry. With over 14 years of experience in the e-commerce and SaaS industries, Sync with Connex is a vital tool for growing e-commerce companies.

The Solution

Sync with Connex turned to Baremetrics for a solution. They started a free trial of Baremetrics, which provided actionable insights about their Stripe data, automated their dunning campaign, and offered a process for collecting actionable feedback. To overcome the limitations of PayPal, they migrated to Stripe, which offered developer-friendly features and easy integrations with Baremetrics for smarter business analytics. They implemented Stripe's fraud checks, reminders to prevent billing issues, and prorated billing. They also used Baremetrics' Cancellation Insights to understand why customers were cancelling. Additionally, they used Baremetrics' Recover tool, a leading dunning solution for SaaS and subscription businesses, to prevent failed payments and recoup revenue. This tool is completely automated, allowing the company to focus on other areas while it works to recover lost revenue.

Operational Impact

  • The implementation of Baremetrics and the migration to Stripe brought significant operational improvements to Sync with Connex. The company gained valuable insights into their Stripe data, which helped them make informed business decisions. The automated dunning campaign reduced the number of failed payments and eased the burden on their customer success team. The insights from the Cancellation Insights tool helped them understand why customers were cancelling and how they could improve their product and services. The company also saw a reduction in chargebacks and fraudulent payments after implementing Stripe. The ease of use of Stripe and Baremetrics allowed the staff to perform daily billing operations without needing assistance, freeing up more time for business growth activities. Overall, the solutions provided by Baremetrics and Stripe have helped Sync with Connex streamline their operations and set a solid foundation for future growth.

Quantitative Benefit

  • Recovered $11,000 in failed payments within one month of using Baremetrics

  • Reduced billing-related support tickets by 20%

  • Recovered about $6,000 in one day of failed credit cards during the migration from PayPal to Stripe

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