Twenty years of customer insight, productised for private equity

Keystone IQ’s Revenue Quality Architecture™

How much of next year is already in the bag, and how much has to be won.

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Reconciled to the accounts · No personal data · Days not weeks

Same revenue line. Different assets.

Private equity prices a business on revenue. The customer base is what generates it, and what a buyer is actually acquiring.

Two businesses can post the same growth with very different risk underneath. Cohort averages and management forecasts won’t show which is which.

How it works

The system does the heavy lifting. Experience makes the calls.

  1. 01 Prove the numbers

    Customers, transactions and revenue reconciled to the accounts before anything else.

  2. 02 Group by behaviour

    How often, how much and how broadly customers buy. Not spend bands.

  3. 03 Follow every customer

    Who was won, who was lost, who is buying more and who is buying less.

  4. 04 Price every lever

    What one point of improvement is worth next year.

How the method works

The Floor

The most honest number in the room

Next year’s revenue from today’s customers alone, before any new customer is won.

The gap to today’s revenue is what acquisition must deliver just to stand still. For an operating partner, it is where the value creation plan starts.

Every lever priced, in the room

When the investment committee asks “what if?”, the answer is priced in the meeting, not promised for next week.

  • Levers moved live, with the downside included
  • Every target labelled evidenced or assumed
  • Management decides what to go after
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What your team gets

Your report, online

Four pages for a Health Check, eight for a Customer Base Diagnostic. Also as a file or PDF.

Your own scenarios

Run the levers between meetings.

The Excel bridge

The Floor, levers and retention by customer group, ready for the deal model.

A sealed audit trail

Every figure traces back to the data and settings behind it.

Like-for-like re-runs

The same definitions through the hold, comparable across the portfolio.

Eight pages. Eight questions.

  1. 01 Summary

    What is the one thing I must know?

  2. 02 Basis of preparation

    Can I trust these numbers?

  3. 03 Customer groups

    Which customers carry the revenue?

  4. 04 Customer movement

    Is the growth real?

  5. 05 Revenue outlook

    How much of next year do I already own?

  6. 06 Scenarios

    What if we keep or win more customers?

  7. 07 Value creation levers

    What is each lever worth?

  8. 08 Operator read

    What did this change about the business?

Built to stand up to scrutiny

Robust

Reconciled to the accounts, every figure cross-checked, every claim tested. If it doesn’t add up, it doesn’t go out.

Fast

Weeks of spreadsheet work now run in minutes. Late data is re-run the same day, on the same definitions.

Operator-led

Twenty years of judgement at every step, from reading the base to signing off the report.

The judgement above the method Meet Natalie McCrae

From entry to exit

  1. 01 Entry

    Is the revenue real and durable?

    Health Check

  2. 02 Entry and early hold

    Where is the value, and what moves it?

    Value Creation Map

  3. 03 Hold

    Is value creation happening at customer level?

    Customer Base Diagnostic

  4. 04 Exit

    What will a buyer ask for?

    Value Creation Advisory

Questions

Natalie McCrae walks through a demo business in the client view and runs scenarios live. Bring a question from a live deal if you have one.

A system that shows how much of next year’s revenue today’s customers will bring, reconciled to the accounts, with every lever priced.

Next year’s revenue from today’s customers alone. The gap to today’s revenue is what new customers must win just to stand still.

No. It reports observed customer behaviour, and every scenario target is labelled evidenced or assumed.

Yes. You get the report online and can run your own scenarios. The build, checks and release stay with Keystone IQ.

Anonymised transactions, including refunds, cancellations and failed payments, plus product categories and the business’s own control totals. No personal data.

No. Client data stays on Keystone IQ’s own systems and is never provided to third parties to train their models.

In minutes once the data reconciles. A Health Check reports in five days from clean data, a Customer Base Diagnostic in ten.

Before you price the next deal, see what the customer base is doing

A walkthrough with Natalie McCrae. Nothing to prepare.