SaaS Metrics School

Ben Murray
  • 4.6 (11)
  • Management
  • Updated Weekly

Ben Murray brings you actionable SaaS metrics lessons that he has learned through years of being in the SaaS CFO trenches. Whether you are new to SaaS or a SaaS veteran, learn the latest SaaS and AI metrics, finance, and accounting tactics that drive financial transparency and improved decision-making. Ben’s SaaS metrics blog consistently rates a 70+ NPS, and his templates have been downloaded over 100,000 times. There is always something to learn about SaaS and AI metrics.

  1. 1d ago

    How AI Is Writing 84-Data-Point Board Reports — And Why CFOs Can Trust Them

    What if AI could produce a better board memo than any CFO — and you could trust every data point in it? In episode #385, Ben Murray breaks down how he is using AI to generate complete 5-page financial board reports, and more importantly, why the outputs are reliable. This isn't AI hype — it's a working FP&A process Ben is running today inside his fractional CFO practice. If you're still manually assembling dashboards, PDFs, and narrative summaries before every board meeting, this episode reframes what's actually possible right now. Why a deterministic metrics engine — not AI — is the non-negotiable foundation that makes AI-written board reports trustworthy (and how Ben built one backed by 35 pages of documentation) The exact structure of a SaaS financial board report: executive overview, metrics vs. benchmarks, ARR growth, customer retention, GTM efficiency, financial capacity, data anomalies, and top priorities — all generated by AI How Ben identified 84 unique data points in a single AI-written board memo using ChatGPT — and why that number changes how you think about QA The MCP connection to SoftwareMetrics.ai that makes this a repeatable monthly process — and how Replit is now building it as a native app feature What's coming in October: Ben's SaaS Metric Sprint, a live walkthrough of building the data foundation, calculating metrics, and connecting MCP so you can run this for your own company Tune in to see how Ben is turning month-end close into a board-ready narrative in minutes — and how you can build the same process for your SaaS company. Resources Mentioned Ben's app: https://softwaremetrics.ai/ SaaS Metric Sprint (October 6th): https://www.thesaasacademy.com/saas-metrics-implementation-sprint-sept-2026

  2. 4d ago

    Should AI Run Your Board Meetings? A CFO's Framework for AI-Prepped Board Packages

    Is your board meeting time being wasted on reporting instead of judgment and quality discussion? In episode #384, Ben Murray addresses how AI can transform board meeting prep for SaaS finance leaders. If your board decks are packed with data but the important issues still get buried, and board members show up with wildly different levels of prep, you already know the problem. Every hour spent reviewing numbers that should have been read beforehand is an hour not spent on the judgment calls that actually move the business forward. Understand the core frustration behind Jason Lemkin's "AI board member" post and why it resonates with CFOs building out their FP&A process See how AI can do a first analytical pass through your financials, metrics, and benchmarks before the meeting ever starts Learn how to use AI to set a focused board agenda: the 3 issues that matter, the 5 metrics that don't need discussion, and the questions still unanswered Get Ben's real-world example of using an AI agent to identify top 3 board priorities and pull follow-up ownership from meeting transcripts Discover why a deterministic data engine, not just a chatbot, is the real key to accurate AI-written financial narratives and agendas Tune in to see exactly how Ben is putting Jason Lemkin's AI board member idea into practice, before your next board meeting rolls around. Resources Mentioned Jason Lemkin's SaaStr post on AI and board meetings: https://www.saastr.com/the-ai-board-member-why-yours-should-chair-the-next-meeting-for-real/? What I'm using: https://softwaremetrics.ai/ CFO courses: https://www.thesaasacademy.com/

  3. Aug 8

    How to Vibe Code Finance Dashboards for Your SaaS Metrics

    Can you actually trust the numbers when AI writes your board report? In episode #383, Ben Murray breaks down how to vibe code finance dashboards that hold up to CFO standards. Every finance leader is being sold the same promise: that AI will do your analysis for you, but the hype skips the part that decides whether the output is usable. If you are putting AI-written numbers in front of your board or investors, the difference between a trusted report and an embarrassing one comes down to work most CFOs never do. Why the data foundation, not a magic prompt, decides whether your AI dashboards can be trusted How a deterministic metrics engine keeps AI away from your calculations while it writes the narrative on top The Cisco playbook for letting AI draft 80 to 90 percent of your board commentary before you finish it off How to turn an LLM-generated HTML dashboard into a live, refreshable report in about 5 minutes Which model, ChatGPT, Claude, or Gemini, actually produces the best-looking finance dashboards Tune in to get the exact process CFOs are using to put AI-written reports in front of their boards with the numbers they can defend. Resources Mentioned Webinar: How I Vibe Code Finance Dashboards, plus templates: https://www.thesaasacademy.com/pl/2148817040 SaaS Metrics Sprint, October cohort: https://www.thesaasacademy.com/saas-metrics-implementation-sprint-sept-2026 Tech CFO community: https://docs.google.com/forms/d/e/1FAIpQLSfP4uwvwEoc92Qc_rS8eu-9EzV6shivPbBhaNcPqsy5sNVNNg/viewform?usp=dialog

  4. Aug 7

    The 2026 ARR per Employee Benchmarks: Where Top-Quartile SaaS Actually Lands

    Seeing the millions-per-employee AI headlines and wondering where your SaaS company actually stands? In episode #382, Ben Murray covers the latest ARR per FTE benchmarks from Ray Rike's Benchmarkit data. Social media is full of ARR per employee hype, but almost none of it tells you how the number was defined, whether contractors are counted, or how your company compares once you cut the data the way it actually matters. If you are benchmarking efficiency for a board deck, a raise, or a headcount plan, the aggregate number can quietly send you the wrong signal. This episode grounds the metric in real survey data so you know what good looks like for a company your size, in your region, with your pricing model. Know the headline numbers: bottom quartile at 127K, median at 193K, and top quartile at 279K of ARR per employee across the full SaaS population. See how pricing model changes everything, from usage-based leading at 291K down to subscription plus usage hybrids at 136K. Understand why efficiency can drop in the 50 to 100 million ARR band instead of climbing, and what that says about your next phase of growth. Compare the cuts that actually move the number: North America versus EMEA, and horizontal B2B versus vertical SaaS. Learn why aggregate benchmarks can be dangerous to your SaaS health, and why size and pricing bands beat the total-population average every time. Tune in to see where your ARR per employee really stands before you use it in your next board deck or fundraise. Resources Mentioned Benchmarkit (Ray Rike) - benchmarkit.ai Ben Murray's blog post with the full data cuts: https://www.thesaascfo.com/arr-per-employee-benchmarks/

  5. Jul 22

    How Much Are Tech CFOs Actually Making in 2026?

    In episode #381, Ben Murray covers the latest 2026 tech CFO compensation benchmarks across base, bonus, equity, and severance. If you set finance comp or negotiate your own, guessing at the market rate is expensive in both directions. Underpay and you risk losing your best finance leader. Overpay and you burn cash you cannot spare. This episode gives you the median numbers and the revenue tier splits that decide what competitive actually looks like. Why the median CFO package of $285K base, $100K target bonus, and $1M equity is only a starting point, and why company revenue size changes the whole picture How median base pay climbs across revenue tiers, from roughly $240K under $10M up to $375K at $100M to $250M, a premium of about 50 percent The gap between target and realized bonus, with CFOs hitting about 87 percent attainment while VPs of Finance and FP&A land closer to 50 percent Why equity is where packages really split, at a $1M median for CFOs versus $200K at the VP of Finance level, a 5x difference Where severance protection shows up, at the CFO and VP of Finance level, and where it disappears at the director level Tune in, then grab the full report and interactive benchmarks from the show notes before your next comp conversation or board meeting. Resources Mentioned Blog post and report: 2026 CFO compensation summary: https://www.thesaascfo.com/cfo-and-vp-finance-compensation-base-bonus-and-equity-benchmarks/ Full 2026 CFO compensation report: https://www.benchmarkit.ai/2026-finance-executive-compensation

  6. Jul 2

    The Latest GRR Benchmarks

    Is gross revenue retention under attack at your SaaS company? The latest benchmark data says the ground has shifted under everyone. In episode #380, Ben Murray breaks down the latest SaaS gross revenue retention benchmarks from Ray Rike's Benchmarkit report, the same data set Ben uses to benchmark his own client base. GRR is one of the power three metrics, and it is hard to scale without it. Pricing models are changing; seat-based pricing is under pressure, and AI is reshaping how revenue holds. If your board still treats 88% median GRR as the baseline, you are benchmarking against last year's reality. Why median GRR fell from 88% to 84% year over year, and why the top quartile slipped from 95% to 91% Whether the 95% GRR "elite" rule of thumb still holds, backed by three years of top-quartile benchmark data Which pricing model retains revenue best, comparing pure subscription against usage-based and subscription-plus-usage Why vertical SaaS is outperforming horizontal SaaS on retention, with a 90% median GRR versus 84% How to benchmark GRR the right way by ACV segment instead of relying on dangerous aggregate numbers Tune in to see where your gross revenue retention really stands, before your next board meeting or investor update. Resources Mentioned Benchmarkit SaaS Metrics Benchmark Report, Ray Rike: https://www.benchmarkit.ai/2026-saas-ai-native-metrics Ben's KPI app: https://softwaremetrics.ai/ Ben's blog post on 2026 GRR benchmarks: https://www.thesaascfo.com/saas-grr-benchmark-2026/

  7. Jun 24

    Why AI ARR Alone No Longer Lifts Your Software Valuation

    AI ARR is easy to announce. Proving it is where most SaaS finance teams are about to get exposed. In episode #379, Ben Murray tackles the new bar for AI financial transparency and what it means for your next budget season. The public markets have already moved the goalposts. Launching AI was the 2024 story. Reporting AI ARR was the 2025 story. Now investors and boards want to see AI margins, customer outcomes, and proof that AI revenue is actually dropping to the bottom line. That same pressure is heading straight for private SaaS, and your board will bring it to budget season whether you are ready or not. Understand why AI ARR by itself no longer satisfies boards or investors, and what they now demand to see in the numbers. Separate pure AI revenue, AI-influenced revenue, and AI upsell so your reporting survives scrutiny, using clean SKUs, product IDs, and chart of accounts. Know which AI costs belong in COGS, including inference, infrastructure, and observability, so you can show your real AI margins. Walk into budget season ready for the board questions on AI revenue, AI cost, and margin by revenue stream. Instrument heavy, medium, and light AI users so you can defend margins and LTV to CAC as usage scales. Listen now and build the AI transparency your board will expect before budget season starts. Resources Mentioned Ben's blog posts on capturing AI costs in COGS: inference, infrastructure, and observability: https://www.thesaascfo.com/what-should-be-included-in-ai-cogs/ Ben's training on AI metrics: https://www.thesaasacademy.com/ai-finance-metrics-saas

  8. Jun 23

    Here's What Separates the 9 Public SaaS Companies that Trade Above 10x

    Is your SaaS company stuck in the valuation doghouse while a handful of names trade at a massive premium? In episode #378, Ben Murray breaks down Meritech's June 2026 public software comps report and the widening valuation gap across SaaS. The median revenue multiple has fallen 64% from its pre-ZIRP peak, and most public software now trades below 5X. If you are a SaaS founder or CFO, the multiple attached to your business depends on a short list of traits the market now rewards. This episode shows you which ones, and why the rules quietly changed. Why only 9 of roughly 100 public software companies trade above a 10X revenue multiple, while 77 sit below 5X How the Rule of 40 shifted under the surface, with revenue growth now 3.3x more correlated with the multiple than free cash flow margin Why two companies with the same Rule of 40 score can trade at 7.3x versus 3.7x, depending entirely on how they got there What the top 9 share in common: free cash flow margins above 20% and ARR growth above 20% at the same time How AI exposure now sorts the market, and why a weak AI ARR story lands horizontal SaaS in the doghouse Tune in to see exactly what separates the premium names from the rest before you benchmark your own SaaS valuation. Resources Mentioned Meritech June 2026 Public Software Comps (Pulse Report): https://meritech.substack.com/p/meritech-software-pulse-12-june-2026 Ben's academy: https://www.thesaasacademy.com/

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4.6
out of 5
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About

Ben Murray brings you actionable SaaS metrics lessons that he has learned through years of being in the SaaS CFO trenches. Whether you are new to SaaS or a SaaS veteran, learn the latest SaaS and AI metrics, finance, and accounting tactics that drive financial transparency and improved decision-making. Ben’s SaaS metrics blog consistently rates a 70+ NPS, and his templates have been downloaded over 100,000 times. There is always something to learn about SaaS and AI metrics.

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