Time to Value: Why It’s a Killer Metric for Accounting Tech Startups

'Time to Value' is revolutionising accounting tech startups. Learn to measure and maximise this metric for rapid customer satisfaction and business growth.

Is your accounting tech startup spending enough time talking about 'Time To Value' or TTV? In a SaaS sector where delivering value is fundamental to your offering, you’d assume that TTV is baked into your KPI dashboard, right? But, in our experience, many software startups in the accounting sector are not tracking and measuring TTV effectively.

Ask your team this: ‘How long does it take for our customers to experience value in our product for the first time?’ If you don't know the answer, then getting a better grip on TTV and the focus of your value offering is probably long overdue. 

Let’s start by getting the lowdown on the true meaning of TTV – and why it’s a client experience and value performance metric that should be front and centre in your accounting tech dashboard. 

What the hell is Time To Value?

Time To Value (TTV) measures the time it takes for a customer to realise the benefits and value of your product or service – in this case, your accounting technology solution. 

In other words, TTV is a measurement of how long it takes your customer to go from ‘What’s this new app?’ to ‘We couldn’t live without this app!’. TTV is a key indicator of the effectiveness of your software, a barometer of customer satisfaction and a measure of how quickly your product becomes invaluable to your audience. 

It’s about how long it takes for your customers to:

  • Implement the software – this includes setting up the software, configuring settings, integrating with existing systems and training your end users.
  • Adopt the software – this involves users getting familiar with your software's features, integrating it into their daily workflows and relying on it for practice tasks.
  • Realise the benefits – if implementation and adoption is a success, your customers will start to experience the tangible benefits of the software. This could mean improved efficiency, increased productivity or greater practice automation.

The quicker you can move the implementation and adoption phases, the sooner your customers will get that warm, cosy feeling that ‘added value’ brings to the table. And turning your customers into rabid brand advocates is a major pathway towards growing the business.

What can tracking your TTV score bring to the table?

Why is TTV such a critical metric for your accounting tech startup? It’s all down to what it tells you about your customers’ perception of the product. 

Yeah, you want to have a solid pipeline of sales bringing in recurring revenue. But you also need those paying customers to get the value you’ve promised. If your tagline is ‘Transforming your practice management with smart AI tools’, you’d better bloody deliver on that value promise!

What your TTV score does is give you a way to quantify and drill down into that value proposition, so you can start refining, nuancing and improving your offering.

Shortening your TTV can lead to:

  • Improved customer satisfaction and loyalty – if you shorten your TTV, that’s a sign that customers are grasping the value in your solution more quickly. That enhances your customer satisfaction and helps you start creating loyal brand advocates.
  • Reduced customer churn and better retention – satisfied customers are less likely to churn and disappear off the radar, reducing your customer acquisition costs and making your whole operation a lot more profitable as a result. 
  • A boost in word-of-mouth marketing – if your customers are totally stoked with your product they’ll want to sing your praises from the rooftops. A true advocate will refer you to their mates and their network, helping you expand your customer base fast. 
  • Better data-driven decision-making – TTV data gives you golden insights into where your startup may need to up its game. That might mean upgrading your UI, adding missing product features or making the onboarding process a whole lot easier. 
  • A competitive advantage over other market players – in the super-competitive accounting tech market, a shorter TTV is a fundamental way to differentiate your startup from the competition. If your customers get to the value prize more quickly, that’s an edge that your competitors will find it very difficult to overcome.

What can you do to supercharge your TTV?

So, what does a shorter TTV tell you? Basically, it’s a great indication that your accounting tech solution is easy to implement, user-friendly and quickly delivers value to customers (in other words, you’re killing it!). Startups with a good TTV score are likely to have higher customer satisfaction, increased retention rates and incredible word-of-mouth marketing.

So, what can you do to boost that TTV number and start seeing better results?

Here are some core areas to focus on:

  1. Ease of implementation – make it as easy as possible for new customers to get up and running. Streamline the installation process, provide comprehensive documentation, and make sure your onboarding support is second to none.
  2. An intuitive user interface (UI) the simpler your UI is, the faster people can get up and running. Design a user-friendly UI that has clear navigation, consistent design patterns and context-sensitive help features to get new users out of trouble quickly.
  3. Quick wins and visible benefits – make it clear why your solution is the one to choose. Highlight the software's immediate value benefits, whether that’s automating repetitive tasks, reducing manual data entry or generating real-time financial insights.
  4. Training and support – top-notch training helps remove the hurdles when a firm first starts using a new solution. Offer comprehensive training resources, including tutorials, webinars and online communities, to help customers quickly grasp the software.
  5. Continuous improvement – your product never stands still, so make sure there’s a process of continuous development embedded into your culture. Get feedback from your customers, analyse usage data and do your utmost to address every single customer pain point, while delivering the ultimate customer experience. 

Let Journey send your TTV stratospheric

Boosting that TTV score should be high on your priority list, as the founder of an accounting tech startup. But being able to stand back and objectively judge where your solution is slowing down the all-important TTV score isn’t easy when you’re on the inside looking out.

At Journey we’re the experts in growth marketing for the accounting tech sector. So we know exactly what’s going to shorten that TTV time and get your accountant audience paying attention. 

Partnering with us helps you:

  1. Shake up the accounting technology sector
  2. Elevate and streamline your marketing efforts
  3. Amplify your presence in the accounting niche

Get in touch to find out how Journey can shorten that TTV time, transform your customer experience and help you start delivering explosive growth for your accounting tech startup.

Let’s talk about TTV

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What did SaaS vendors get right in their GTM strategy in 2023?

Discover key GTM insights from Journey's 2023 success with global Accounting SaaS vendors.

In 2023 we worked with more than 20 vendors. We helped them to execute their GTM strategy in the accounting industry here in Australia, the United Kingdom, South Africa and North America. 

Over the last 12 months I saw a lot of things that worked really well. And I saw a lot of things that made me want to bang my head against the wall until the pain went away.

At Journey, we've had a big year of experimentation and strategy refinement. 

Today I’m breaking down my key takeaways from 2023 on what worked well for the Accounting SaaS community, or at least for the vendors we were working with.

My goal here, whether you work with Journey or not, is to help you think through all the areas of your GTM strategy, what are you gaps, what is your opportunity and what are you digging into in Q1 of 2024 to get back on track. 

Let’s break it down.

1. Deeply Understand Your Customer

It's startling how many businesses overlook this. 

Last year, we went the extra mile by asking our clients' customers about their product usage, the problems it solves, and their overall experience. 

Our approach was comprehensive. We conducted detailed interviews and surveys, asking pointed questions about how they use our clients' products, the specific problems these products solve, and their overall experience. 

This wasn't a superficial exercise; we delved into the nuances of their responses, seeking to understand not just the 'what' but the 'why' behind their usage.

The insights gained from this exercise were eye-opening. We learned that what we thought were the key features of a product weren't always aligned with the customer's perspective.

In some cases, features we considered minor were actually making a significant impact on the customers' day-to-day operations. This revelation was a game-changer in how we approached messaging and positioning for our clients.

You absolutely need to start the year by doing customer research. Write it down.

We offer this as a service and would be more then happy to show you through how we were able to capture over 400 pieces of product feedback in the past few months for our clients.

2. Active and Diverse Funnel Activities

How often are you engaging with your prospects?

Relying on a single channel for marketing is a strategy that will likely fail. It's important to keep a mix of activities – both big and small – to maintain a healthy and consistent funnel.

Social media alone won't cut it, email marketing alone doesn't cut it, that FaceBook group that had 7 people tag your solution alone doesn't cut it.

The magic happens when these channels work together. 

Imagine a potential customer seeing your brand on social media, then receiving a well-crafted email that addresses their specific needs, followed by an invitation to an exclusive webinar. 

This approach creates multiple touchpoints, each reinforcing the other, and keeps your brand top-of-mind for prospects. The same happens when you start partnering with other brands that operate in the same channel.

Moreover, this strategy allows for flexibility and adaptability. 

Different segments of your audience might prefer different channels, and a multi-channel approach lets you cater to these preferences. 

It also enables you to test and learn which combinations of channels and content types work best for different audience segments.

This is a core offering at Journey. This is the majority of work we are rolling out and implementing for our clients at the moment.

3. A Disciplined Sales Team

The effectiveness of your sales team hinges on their structure and discipline. 

We've seen the best results when roles are clearly defined – for instance, separating the responsibilities of SDRs (Sales Development Representatives) and BDMs (Business Development Managers). 

Having someone do both the SDR work and BDM work, as in, all the call and all the demos will be ineffective, compared to 2 people splitting the work and focusing on just making calls and/or just doing demos.

This specialisation allows each team member to focus and excel in their area, significantly improving efficiency and deal closures.

Keep it simple and the results will flow. I do a lot of consulting on sales functions and getting this process right. 

We’ve seen amazing results with some clients seeing a 206% lift in revenue in 2023 alone after we made changes to their sales and marketing flow.

4. Innovative Customer Interactions

Customer engagement methods are evolving rapidly. 

We've embraced webinars, interactive demos, and other innovative interaction methods to keep our engagements memorable and accessible. 

Webinars, for instance, offer a platform not just for education but for prospect interaction. 

They allow you to delve into key themes and topics, showcase your expertise, and most importantly, engage in real-time with your audience. 

Similarly, interactive website demos have transformed from standard presentations to dynamic, tailored experiences where prospects can see firsthand how your solutions can solve their specific problems straight on the website, before they’ve even spoken to anyone.

Integrating these interactions with your CRM can provide invaluable insights and streamline your sales processes.

We implemented a number of interactive demo’s last year and the results were crazy, in the first month alone, a brand new solution we helped launch had 400 interactions inside the first 30 days, before converting roughly 20% - without even speaking to the on the phone.

5. Seamless Transition Between Teams

A critical yet often neglected aspect is the handover between marketing, sales, and customer success teams. 

This transition should be smooth and well-coordinated, with each team understanding their role in the customer journey. Automating these handovers in your CRM can prevent manual errors and ensure a seamless experience.

By automating the process, you eliminate the risk of human error – no more missed emails or forgotten follow-ups. 

This automation ensures that every piece of critical information is captured and made available to the right team at the right time. 

Furthermore, it allows for a smoother transition of the customer through different phases of their journey, from initial engagement with marketing to sales negotiation, and finally to ongoing support from the customer success team.

6. A Functioning CRM: The Heart of Sales and Marketing

Last year, I encountered too many SaaS vendors struggling with disconnected systems. A cohesive CRM system is non-negotiable. 

It should be the central hub where your sales and marketing efforts converge and should be well-integrated with your website and other tools.

We’re officially Hubspot implementation partners. This is our weapon of choice but we play nice with all systems. We find Hubspot does an amazing job of bringing visibility and cohesion in your GTM team. 

Final thoughts

These insights are more than just observations; they are the foundation of a robust GTM strategy. 

If your current GTM strategy doesn't align with these points, it's time for a change. 

At Journey, we specialise in crafting and refining these strategies to help you scale your sales and marketing efforts.

If you're looking to enhance your approach in 2024, let's have a conversation. 

This is what we do

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Journey Partners with Translucent to Revolutionise Multi-Entity Accounting: A Global Leap Forward

Journey partners with Translucent, transforming Xero into a top-tier multi-entity solution, leveraging our growth marketing expertise.

Translucent, the software that turns Xero into a multi-entity accounting solution, has chosen Journey, the growth marketing agency for accounting-tech, as a global partner.

Translucent turns your existing accounting software into a multi-entity accounting solution. Translucent consolidates accounting data to create a single source of truth and gives you all the multi-entity apps you need – including Group Reporting, Intercompany, Bank Consolidation, Multi-Entity Search and Live Sheets. 

Translucent was founded by Michael Wood (Co-Founder Receipt Bank, aka Dext) and is backed by prominent names from the accounting industry including  Craig Walker (Co-Founder Xero & Former CTO), Gary Turner (Former MD of Xero EMEA), Guy Pearson (Co-Founder Ignition) and  Jamie McDonald (Co-Founder Hubdoc).

Journey will play a central role in launching Translucent across international markets. With its deep expertise in the SaaS and accounting tech sectors, Journey has already helped launch XBert as a household name with 206% revenue growth, while client Dashboard Insights recently won “Practice App of the Year” at the Xero Awards in Australia.  

“I’ve experienced first-hand the problems that multi-entity businesses face so I am delighted to be able to bring to market a one-stop-solution for multi-entity businesses. Given Journey’s expertise and experience they were the natural partners to help us shape and supercharge our ambitious growth plans.” says Michael Wood, CEO and Founder at Translucent.

Trent McLaren and Jordan Vickery of Journey will also serve as brand ambassadors for Translucent, leveraging their extensive industry experience and networks to promote Translucent's innovative solutions and expand its global presence.

“Translucent has the potential to be a true game changer in the world of financial software – this is very much not ‘just another app’. We believe that for many teams it will soon be ‘the’ app,” adds Trent McLaren, Director at Journey. 

About Translucent

Translucent turns your existing accounting software into a multi-entity accounting solution.

Founded by CEO Michael Wood, who had previously co-founded Dext, (formerly Receipt Bank). Launched in 2022, London-based Translucent has to-date raised £7.7M from LocalGlobe, Chalfen Ventures and angel investors, including Gary Turner and Craig Walker (both from Xero), as well as founders from fintech and accounting tech leaders including GoCardless, Jeeves, Karbon, Libeo, ComplyAdvantage, Ignition, Hubdoc and KashFlow.

About Journey

Journey, a pioneering growth agency, specialises in unlocking and scaling revenue streams for accounting technology companies across the globe. 

Established by industry veterans Trent Mclaren, Liss McLaren and Jordan Vickery,  the agency brings over 30 years of combined expertise in the accounting tech sector to the table. Journey functions as an extension of your team, acting as the in-house growth marketing arm for accounting tech companies. Their mission is to not only boost revenue but also to forge enduring brands, making a worldwide impact in the accounting industry. 

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Hurray, it’s another agency rebrand! Why Journey’s relaunched brand is more re-energised than rehashed

A complete transformation that mirrors the disruptive spirit of our accounting tech clients

Rebrands can be such a bore! Wow, you changed your logo and chose a slightly different corporate blue pantone for your website – *slow hand clap* Well done you! But every now and then, a rebrand comes along that does it RIGHT. A rethink that’s not just a cosmetic airbrushing of the existing brand, but a complete rethink of the style, attitude and ethos of the brand.

Journey is launching its new brand with a bang. We’re the same cutting-edge growth marketing agency we always were – with a razor-sharp focus on the accounting technology market. But now we’re wearing new threads and walking a new walk.

Dive into www.letsjourney.io and see just why we stand out from the crowd, and how we’re more motivated than ever to help accounting tech startups become industry rock stars.

A refreshed brand with a punk-rock attitude

A rebrand isn’t about commissioning an expensive new logo. A good rebrand builds on previous successes by re-focusing the mission, vision and clarity of what your brand’s about. So, if you’re going to do more than just tick the usual boxes, you need a sharp focus on your customers. 

Journey’s customers are accounting tech founders, disruptive innovators who’ve shaken up the industry. They spot a niche, develop never-before-seen technology and disrupt the market. It was only fitting to match that energy with the new Journey brand and to crank it up to 11. 

Our new brand is all about blending the rebellion and disruptive spirit of these punk-rock innovators, with clear, no-nonsense visuals and content that tells it how it is.

We keep things simple, but we also fire up the energy and drive for growth that’s the lifeblood of any great accounting tech startup. The brand reflects the SaaS founder’s drive for independence and disruption. But we temper this with deep knowledge, incredible industry insights and content that truly brings a startup's story to life.

We infuse our content with the energy of a punk rock concert, where the audience feels the adrenaline, the passion, and the exhilaration of being part of a movement.

But we also dial down the volume, slip some yacht rock onto the stereo and bring things down to basics – setting the marketing foundations for solid, dependable growth and revenues. 

Fire up the new rebranded site and see for yourself how Journey has changed.

Three ways Journey powers up growth for accounting tech startups

Our mission is clear: Journey 2.0 is here to unleash scalable growth for accounting tech startups across the globe. We’ve got the knowledge of the industry, the tried-and-tested strategies, and a team who know the accounting industry like the back of their hand.

At Journey, we've cracked the code to scaling-up accounting tech apps. With 30+ years of combined industry leadership between us, we're here to help ambitious startups crank it up to 11 – from Seed to Series C and beyond. 

What’s it like working with Journey? Our three-point approach is the engine room of our clients’ growth, helping them switch from organic growth to hyper-growth scale-up in the blink of an eye.

These three pillars are what delivers accounting tech growth:

1. We pull back the cover on your customers & product

  • Because your customers hold the answers to your messaging and positioning
  • Customer research to get a razor-sharp look at what makes your ideal customers tick
  • Product immersion to understand exactly how you solve their biggest pain points
  • Updated messaging based on how you’re uniquely positioned to help them

2. Assemble your strategy & growth team

  • We build the growth unit you need for your goals & product
  • Sprint-strategising to create a plan we can start testing & measuring
  • Carefully curated channels based on where we think you’re best taking centre stage
  • A team of strategists, specialists, and executors assembled and assigned to you

3. No-holds-barred execution and iteration

  • We execute, learn, adjust, and go again until we find your leverage
  • Daily execution against the plan to start finding traction
  • Constant review & thirst for improvement to double down on what’s working
  • We’re in your Slack, attending your stand-ups, integrating as part of your in-house team

Shaking up the accounting tech industry, with the skills to pay the bills

Just like all the best punk idols, we don’t hold back when talking about our skills. We’re a global team of accounting aficionados, who know this industry inside out. That knowledge, network and experience is what gives our accounting tech clients a gigantic competitive advantage.

Collectively, we’ve spent three decades scaling SaaS companies across Australasia, Europe and North America. Our team is made up of strategic leaders, growth marketers, creative designers, copywriters and bespoke services for turbocharging your growth.

Check out our About Us page to learn our story and meet the dream team.

Journey: writing the next chapter for accounting tech

The accounting tech industry has evolved at a stratospheric rate in the past decade. Journey is here to write the next chapter in the story, turning the cream of the accounting tech crop into industry superstars and driving the next wave in the accounting technology revolution.

Strap in. Get ready. Crank up the volume. We’re going on a Journey!

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