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This illuminating conversation with CyberArk's SVP of Finance, Nili Serr-Reuven, reveals how the 25-year-old cybersecurity leader successfully transformed from a traditional software company to a SaaS business model in just five quarters - far faster than the industry standard of 2-2.5 years - while maintaining strong margins and customer trust throughout the transition.
Topics Include:
- Introduction to SaaS transformation challenges and opportunities.
- Tomaz Perc introduces Nili Serr Reuven from CyberArk.
- Overview of CyberArk's 25-year history and milestones.
- Transition from a perpetual model to SaaS.
- CyberArk's accelerated transformation in just five quarters.
- Challenges of shifting from product-centric to customer-centric.
- Importance of market research and peer consultations.
- Key role of cross-functional collaboration in success.
- Explanation of "swallowing the fish" in SaaS.
- Managing short-term revenue drops during SaaS transformation.
- CyberArk's 70% SaaS revenue share post-transformation.
- Impact of global economic challenges on business strategy.
- CyberArk's robust demand for identity security solutions.
- Strategic leadership's role in transformation execution.
- CyberArk's disciplined financial planning during uncertainty.
- Establishing KPIs like ARR and customer satisfaction.
- Managing rising cloud costs with FinOps practices.
- CyberArk's approach to pricing and packaging SaaS solutions.
- Leveraging acquisitions to speed up SaaS capabilities.
- Impact of transformation on CyberArk's finance department.
- Evolution of finance roles to support SaaS growth.
- Communication with investors during transformative periods.
- The importance of cultural shifts in transformation success.
- Continuous learning, transparency, and collaboration as cornerstones.
- Advice for future SaaS leaders: plan, communicate, adapt.
Participants:
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