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Financial reporting in the cloud

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Daily

ARR forecasts

instead of monthly

Data

explored

with new flexibility

Mins.

from 5-6 days

for financial closure process

About

Duo Security combines security expertise with a user-centered philosophy to provide a Unified Access Solution that comprises two-factor authentication, endpoint remediation and secure single sign-on tools for the modern era. It’s so simple and effective; you get the freedom to focus on your mission and leave protecting it to Duo.

Company:

Location:

Industry:

Employees:

Product:

Use case:

Website:

Duo Security (part of Cisco)

Michigan, USA

Computer & Network Security

500+

Matillion ETL for Snowflake

Data analytics & reporting

duo.com

Challenge

Duo Security experienced challenges all companies wish for! They were growing rapidly, quickly outgrowing their infrastructure and making (too much) money which left their finance team overworked and unable to keep up with company financial requirements. With no signs of slowing down, Duo Security needed a scalable financial reporting solution to keep pace with their growth and success. A new ERP would have taken months. A new revenue tool would have been costly and timely to implement. Recruiting and training new accountants may have helped but it would have been a short-term solution to a long-term problem. After weighing options, Duo Security chose to move its financial reporting infrastructure to the cloud, selecting Snowflake and Matillion ETL for Snowflake.

Solution

Already a Snowflake customer, Duo Security was able to easily bring its financial data into its existing cloud data warehouse. Selected due to its near-infinite storage and advanced compute capabilities, Snowflake had already become scalable solution helping to support Duo’s data journey. Duo Security, however, still needed a way of taking the pressure off its finance team. In order to relieve pressure here, Matillion ETL for Snowflake helped Duo Security’s finance team transform its financial data into new, cleaner reports. In addition, Matillion ETL for Snowflake helped Duo Security to create a single data model that was easily replicable, enabling Duo to build a number of data transformation jobs to handle different data sources for different business channels.

Results

  • Replaced a massive manual process to automate the ARR calculation process
  • Cut financial closure process down from 5-6 days to only minutes which was essential
  • Can now explore data, testing models on the fly with the flexibility provided by Matillion
  • Daily ARR forecasts (as opposed to monthly) provided to the entire company
  • Sales better understand the health of their individual customer pipelines and how those relate to the business’ overall financial health
  • Account and data alignment with Cisco on a daily basis
  • Following Cisco acquisition, Duo Security quickly met new reporting compliance requirements with Matillion’s shortened development time
  • Works with data visualization tools including Looker and Tableau

Benefits

When Duo Security started this project, they looked to initially serve the Finance and Accounting and Sales teams. With their simple and scalable cloud solutions, they are now able to service Customer Success, Engineering, Security, and Marketing as well, with near real-time financial reporting. This democratizes data and empowers departments across the organization to self-serve and make better decisions based on facts.

Snowflake and Matillion ETL together, have enabled every analyst across the organization with a common data platform rather than having to rely on individual system reporting capabilities and having to learn the nuances of each system. Christopher James Data Warehouse Lead| Duo Security