How To Calculate Services Attach Rate in FinancialForce | Arithmix

Calculating services attach rate is an important metric for any business that offers services alongside their products. It helps you understand how many customers are purchasing additional services with their products and how much revenue those services are generating. In FinancialForce, calculating services attach rate is a simple process that can be done using the following formula:

Services Attach Rate = (Number of Customers Purchasing Services / Total Number of Customers) x 100

This formula gives you a percentage that represents the number of customers who are purchasing services alongside their products. It's important to note that this formula only takes into account customers who have purchased products, so it excludes customers who have only purchased services.

What Is Services Attach Rate?

Services attach rate is a metric that measures the percentage of customers who purchase additional services alongside their products. It's a valuable metric because it helps businesses understand how many customers are interested in additional services and how much revenue those services are generating.

For example, if a company sells software and also offers training services, services attach rate would measure the percentage of customers who purchase training services alongside their software. This metric can help the company understand how many customers are interested in training and how much revenue training services are generating.

When Is It Valuable To Calculate Services Attach Rate?

Calculating services attach rate is valuable for any business that offers services alongside their products. It can help businesses understand how many customers are interested in additional services and how much revenue those services are generating. This information can be used to make decisions about pricing, marketing, and product development.

For example, if a company has a low services attach rate, it may indicate that customers are not interested in additional services or that the company needs to do a better job of marketing those services. On the other hand, if a company has a high services attach rate, it may indicate that customers are interested in additional services and that the company should consider expanding its service offerings.

Overall, calculating services attach rate is a valuable metric that can help businesses understand how many customers are interested in additional services and how much revenue those services are generating. By using this metric, businesses can make informed decisions about pricing, marketing, and product development.

How Do You Calculate Services Attach Rate in FinancialForce

FinancialForce itself isn’t naturally geared towards letting you calculate complex metrics like Services Attach Rate. As an alternative, teams typically use products like Arithmix to import data from FinancialForce and build out dashboards.

What is Arithmix?

Arithmix is the next generation spreadsheet - a collaborative, web-based platform for working with numbers that’s powerful yet easy to use. With Arithmix you can import data from systems like FinancialForce, combine it with data from other systems, and create calculations like Services Attach Rate.

In Arithmix, data is organized into Tables and referenced by name, not by cell location like a spreadsheet, simplifying calculation creation. Data and calculations can be shared with others and re-used like building blocks, vastly streamlining analysis, model building, and reporting in a highly scalable and easy to maintain platform. Data can be edited, categorized (by dimensions) and freely pivoted. Calculations are automatically copied across a dimension - eliminating copy and paste of formulas.

Arithmix is fully collaborative, giving your entire team access to your numbers and the ability to work together seamlessly.

Calculating Services Attach Rate in Arithmix

Calculating metrics like Services Attach Rate is simple in Arithmix. Once you've created your free account, you’ll be able to import your FinancialForce data, and use it to create natural language formulas for metrics like Services Attach Rate.

Arithmix is designed to give you the power to build any calculations you want on top of your FinancialForce data, while also being easy to use and collaborate on. You can share your dashboards with users inside and outside of your organisation, making it easy to empower your whole team.