Introduction.
How Mosaic works with Stripe.
Mapping a Customer’s booking cycle
Making Sense of Billing Changes
Conclusion.
As an ecommerce entrepreneur, I am constantly trying to find out the financial health of my business. I want to know how my product sales are performing and I want aggregated financial data to help when I want to analyse what is profitable and what isn’t..
I’ve been using Stripe for a while now to process all payments that are carried out through purchases from my website. They’re just great when it comes to building invoices, and integrating my stack by connecting them to my CRM and my accounting software.
However there are additional tools that I still need. When it comes to financial data and information, I still want gaps of information to be filled. Luckily, I recently came across a financial services platform that will provide me with the additional metrics that I’m looking for. They’re called Mosaic and the finance tools they provide is really enhancing my Stripe experience.
How Mosaic works with Stripe.
So for those who don’t know what Mosaic is, they are a online software platform that businesses can use in the management of their financial activities. The great thing about their platform is their API. This basically means that it can interact with your Stripe account. It can pull financial data from your Stripe platform and provide you with additional data to help your finance department or yourself.
 Mosaic Finance outlines a few key areas in which they provide metrics to enhance your payment purchase statistics.
Mapping a Customer’s booking cycle
One of the great features that Mosaic can help you with when understanding and aggregating data from Stripe is that every time a customer makes a purchase on your stripe platform, Mosaic will essentially track those transaction details and provide you with a simple way of tracking when a contract was made, to when you receive the revenue. This is a really important feature, as it helps you track your liquidity. What does that mean?
It means that Mosaic will bridge the gap between a purchase and revenue received. Once you know the cycle, you can then map your company’s financial future more easily. This is especially important if your company provides a subscription service and there are different dates for subscribers.
This means one thing, when a booking is made, it will translate into financial data with ease.
Making Sense of Billing Changes
When managing an ecommerce website, things can get very complicated in a short space of time. Refunds and returns and subscription changes need to be monitored and financial data presented expediently. A great feature of Mosaic financeis that it will aggregate this data from your Stripe account. It will show you your amount of refunds along with credits. This data will be easier to understand.
Conclusion.
Mosaic Finance really helped me when it came to increasing my understanding and my awareness of my ecommerce company’s financial health. If your company has additional financial data that it needs to make sense of, then Mosaic can help any CFO as well. They are definitely worth a look.
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Published May 29th, 2021
