The Finance Tech Stack

QuickBooks rules ERP until $25M, then it’s all NetSuite and Intacct.

  • NetSuite is the gold standard at scale, with companies switching post-$25M ARR. Sage maintains a strong midmarket position with robust offerings.

  • Workday is making a real push into ERP. Several $1B+ companies in the survey cited Workday as their ERP of choice.


Homegrown invoicing tools just won’t die.

  • At the enterprise level, homegrown tools were the second most common invoicing solution after NetSuite and Intacct—yes, even at $500M+ ARR


Spreadsheets still run FP&A, for better or worse (def. worse)

  • The FP&A space is highly fragmented, and companies don’t cross the 50% adoption threshold for dedicated tools until after $100M in revenue.

  • Planful, Aleph, and Abacum are gaining traction as midmarket alternatives to Adaptive Insights and Anaplan (which still dominates at $1B+).


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Ramp vs. Brex: The Corporate Card and Expense Managment Wars Rage On

  • Ramp is winning companies up to $100M ARR. But post-$100M, Brex is making a serious push into the enterprise, challenging the 800-pound gorilla: Amex.


Brex and Ramp are reshaping Expense Management

  • Ramp is beating Expensify below $100M, while Brex is displacing legacy players in the enterprise.


Travel is the Wild West

  • 45% of $50M–$100M companies and 28% of $100M–$500M companies let employees book travel on their own.

  • Winners? Navan and TravelPerk, offering easier, cheaper alternatives to legacy platforms like Amex and SAP Concur.


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Carta has private cap tables on lock.

  • Carta controls 43%–60% of private cap table management across all revenue bands up to $500M ARR—then companies transition to Morgan Stanley Shareworks.

  • Also, there are MULTIPLE $1B+ revenue companies managing cap tables on spreadsheets. That is psychopathic behavior.


That’s just the start… Download the report for results across more categories, including:

  • Accounts payable

  • BI & Analytics

  • CRM

  • Sales Compensation

  • Procurement

  • Sales Tax

  • Revenue Recognition

  • Close Management

Download the report here:

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