Sage ( @Sageuk ) today announced that they’ve acquired analytics and benchmarking company Compass (http://www.compass.co) ( @startupcompass ) for an unspecified sum. The company was founded in 2010, claims over 34,000 customers and had taken in a little over $4.7 million dollars in funding with the latest round of $1 million in June 2016.
With 34,000 signups, Compass is the leading solution for automated management reports and benchmarks for small and medium-sized online businesses.
Compass is made for executives who seek visibility on how to improve their business’ ROI without having to rely on an analyst or a consultant. Compass automatically prepares best-practice reports and benchmarks for your weekly and monthly business meetings.
You get your first interactive report in less than 2 minutes after signing up. Simply connect the tools you use to manage your business and Compass will create your tailored report.
As recently as June 2016, Compass was noted to have pivoted away from benchmarking startups and moved toward the business of analyzing e-commerce businesses.
Compass works with e-commerce companies by linking their analytic feeds (think Google Analytics) into Compass which then adds further calculations and churns out metrics and recommendations on how to increase revenues.
There’s no word from Sage on what their future plans are for Compass other than this press release mentioning “helping businesses to unleash their growth potential”.
It doesn’t take much imagination to picture Sage offering Compass as an embedded feature of their big 3 global accounting products – Sage One, Sage Live and Sage X3.
E-Commerce is a growing part of small and medium-sized business revenues. And it’s likely to only become even more important as purchasing habits continue to shift from in-store to online.
While Compass previously had access to e-commerce analytics – visits, purchases, etc – they would seem to have lacked bigger picture measurements such as overall company gross revenues, and the overall profitability of the e-commerce companies using their tool. With a Sage integration, it could be easier to generate more meaningful analytics which includes total revenues and bottom line gross margins.
Perhaps at some point subscribers to the analytics will get reports that not only measure the e-commerce effectiveness but also measure against other anonymously sourced accounting data from Sage subscribers.