BURLINGAME, Calif., Jan. 6, 2021 /PRNewswire/ — Tesorio today announced several key achievements that position the company as the clear favorite in the mid-market Accounts Receivable Automation space. On G2 Tesorio has earned the highest rankings in five out of seven criteria in the AR Automation Software category. The company scored a 9.7 for ease of use, 9.7 for ease of setup, 9.8 in quality of support, and perfect 10s for ease of doing business with and product direction. Additionally, Tesorio was recognized as a major player in its debut in the IDC MarketScape: Worldwide SaaS and Cloud-Enabled Accounts Receivable Automation Applications for Midmarket report. Finally, the company’s net promoter score has surged to 60, which is near twice the SaaS industry average of 31.
“At Tesorio we understand that CFOs and their teams want tools that get the job done reliably, efficiently, and quickly. This is why we focus so heavily on ease of use and time to value,” said Carlos Vega, Tesorio’s chief executive. “While it’s great to be recognized as a major player in our first year being assessed by IDC, we’re most proud of our category-leading scores reflected by our customers’ direct reviews and feedback in our net promoter score and on G2.”
A Laser Focus on Customer Needs
“Not having Tesorio would be like me not having my iPhone. It isn’t even a concept I would like to consider. In the two years since we started with Tesorio, we have not had to increase our collections resource level at all even as we’ve grown our ARR by 100%.” – Greg Henry, CFO of Couchbase
From customer support to feature development and deployment, Tesorio is well-known among its customers for listening closely and acting quickly. “CFOs and their finance teams make a discerning customer base and they value pragmatism and productivity far more than frivolous bells and whistles,” said Jay Gaines, SVP Marketing at Tesorio. “This is why our customer advisory board has the loudest and most listened to voice in the company. It also explains why customer success is consistently one of our biggest areas of investment.”
“Tesorio has reduced our time spent on lower priority accounts from 25% of the week to less than two hours per week.” – Michael Renner, Senior AR Manager, Veeva Systems
A Perfect Ten For Product Direction In A Disrupted Market
The Accounts Receivable Automation space has grown rapidly over the last 5 years, and that growth is accelerating as businesses strive for digital transformation in finance. “As the saying goes, “a rising tide lifts all boats”, but a year like 2020 reminded us that consistent innovation requires a strong product vision and a sustainable business model,” said Vega. “Last year we saw recent market entrants and incumbents get acquired after struggling to raise funds and the oldest player trying to shoehorn an adapted enterprise product into a dynamic, cloud-based mid-market.
Tesorio has emerged as the only independent company in the space originally built for and exclusively focused on serving the mid-market. “The mid-market AR automation space is riddled with companies offering products that are either overly complex and too difficult to implement because they were originally designed as on-premise solutions for vast enterprises, or are limited by a vision that starts and ends with simply automating legacy processes,” said Carlos Vega. “One of these companies was recently acquired by a postal company to enhance their own presence in the document process automation space and that says a lot about how they view AR Automation. At Tesorio we view effective collections as central to how our customers create great customer experiences, and foundational to them achieving true cash flow performance,” Vega continued.
“We are extremely gratified to have our customers give us a perfect ten for product direction on G2, and we know that reflects the fact that we view our platform as doing more than simply automating the work that finance teams had previously done manually. That perfect ten isn’t just about being better. It’s about being different. It reflects our partnership with our customers to help them achieve a whole new level and type of positive influence and execution for their businesses. We see a future where finance teams not only see what’s happening with their cash flow but are also empowered to take effective action instantly. A future where companies, customers, and vendors have the insight they need to foster win-win relationships around working capital. That’s what we call cash flow performance.”
To learn more about Tesorio or to request a demonstration contact us at firstname.lastname@example.org or visit www.tesorio.com
Tesorio connects people and data to make cash flow strong and predictable so that companies can control their own destiny and change the world. The Tesorio Cash Flow Performance Platform replaces tedious and reactive cash flow forecasting and collections processes with accurate, real-time predictions, and actionable insights based on behavioral trends. Finance teams are empowered to achieve breakthrough cash flow performance while improving customer experience and relationships.
Tesorio is the 2019 Oracle NetSuite SuiteCloud New Partner of the Year, and the company boasts a Net Promoter Score (NPS) that is 29 points higher than the SaaS industry average. Tesorio is a privately held company funded by Madrona Venture Group, Y Combinator, Floodgate, and others. Tesorio is headquartered in Burlingame, CA.
For more information, please visit www.tesorio.com
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