FarEye shrinks ad-hoc reporting times and eliminates costly manual RevOps workflows with Drivetrain

Prior to Drivetrain

FarEye's RevOps team is a critical component of the company's success. Tasked with measuring company performance and offering stakeholders insights into growth, this well-resourced team relied on a web of spreadsheets, BI tools, and Salesforce outputs to execute its tasks.

This structure led to a few challenges. "If I wanted to see our marketing engine's performance - leads, conversions, win/loss ratios - we had to drive data from several sources to a spreadsheet," says Rahul Kumar, VP of Finance and Business Strategy at FarEye. "Naturally, these manual exercises cost us time and flexibility."

FarEye's RevOps team was tasked with sourcing these datasets, formatting them, and creating projections. Given the complexity of their business, manipulating data on a spreadsheet was challenging. Rahul lists a few obstacles his team faced during this process.

The result was extreme inflexibility with RevOps workflows. Rahul's team had to wait for lookback periods to end before building their projections, delaying performance insights. The possibility of data entry and formula errors in spreadsheets also created a lack of trust in their projections.

The RevOps team could not deliver timely alerts to stakeholders if the company's performance deviated from expectations or project where they would land. Due to these manual processes and inflexibility, the team sent reports at predetermined intervals that did not always align with organizational objectives.

The Solution: How Drivetrain Helped

Centralized MIS data, faster workflows and higher projection accuracy

Drivetrain's first task was integrating FarEye's disparate data sources onto a single platform. Our data connectors pull financial, customer, and deal data from FarEye's platforms, primarily Salesforce and spreadsheets. The result is an automated process that the RevOps team trusts.

By centralizing FarEye's MIS data, Rahul's team could also rely on a stream of real-time insights into company performance. Instead of waiting for weeks to manually pull data into complex spreadsheets, the RevOps team could track performance metrics in real time.

Drivetrain's ability to automate large portions of FarEye's RevOps workflow has increased projection accuracy. Rahul's team relies on Drivetrain as a single source of truth for MIS data, something they lacked previously.

Rahul is quick to point out another benefit of working with Drivetrain. "Drivetrain's team understands SaaS. When we have new requirements or questions, the team guides us on modeling those use cases with actionable reports and advises us on best practices."

FarEye explored using Business Intelligence (BI) tools to track metrics and analyze performance but found them ill-suited for their SaaS requirements. "It was clear that the teams we were speaking with at these BI companies lacked the in-depth SaaS expertise we needed," Rahul says. "Drivetrain has plugged this gap, and this gives us immense confidence in our partnership."

Key Results

The Drivetrain Impact

• Reduction in ad-hoc report creation from 2 weeks to a few minutes.
• Deep visibility into MIS data, aiding financial planning and monitoring.
• Real-time monitoring, alerts, and collaboration in model creation and projections.

FarEye's RevOps team can now deliver insightful reports to stakeholders using real-time data with different granularity. Team members can drill down into data, roll-up projections, and change assumptions on the fly, without having to worry about incorrect formulas or typing errors skewing results.

Rahul also points out that analyzing financial data per cohort, no matter the cohort definition, is easy with Drivetrain. "All our data is all within Drivetrain, whether it's 1 year or 1 month, and we are able to drill down with more confidence," he says. "The tool is very easy to use too and we are able to quickly model new business requirements and figure out where we're today and where we're going."

Drivetrain is proud to play a significant role in easing FarEye's RevOps concerns. As our partnership continues to evolve, Drivetrain looks forward to supporting FarEye's goal of delivering a best-in-class last-mile logistics solution.