Ep070: How CyberArk Scaled SaaS Transformation: Insights from CyberArk’s SVP Corporate Finance Nili Serr-Reuven

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:

• Nili Serr Reuven – SVP Corporate Finance, CyberArk
• Tomaz Perc – SaaS Business Lead, Amazon Web Services

See how Amazon Web Services gives you the freedom to migrate, innovate, and scale your software company at https://aws.amazon.com/isv/