OpenGov Corp

Question 1

Name four ways Gov accounting is different than Private Sector accounting?

Answer 1

Gov:

• Service is driving force (profit is driving force)
• No ownership (Someone owns the company)
• Budget has the force of law (Budget is a guideline/goal)
• Has multiple funds w/ different rules (no equivalent to fund accounting).

Question 2

Name all five of OpenGov’s services

Answer 2

• Budgeting and Planning (B&P)
• Financials (FIN)
• Citizen Services (CIT)
• Reporting & Transparency
• Procurement (PRO)

Question 3

Name OpenGov’s top 4 differentiators

Answer 3

1) Focused on Gov only, Cloud only
2) Services are connected and collaborative solutions
3) Responsive, expert support
4) Industry-leading Reporting & Transparency Platform and Budgeting and Planning

Question 4

What are the 4 foundational impacts these value drives have?

Answer 4

1) 50% less time spent on budget
2) 80% less time spent on reporting
3) 20% fewer info requests (FOIA)
4) >1% of budget freed for strategic initiatives

Question 5

Approx. how many local governments are there in the US? How many are Special Districts? Cities?

Answer 5

Total: 90,000
Spec. Dist: 38,266
Cities: 19,500

Question 6

Name the 6 types of local governments

Answer 6

City
Special Gov
State
School Districts
County
Township

Question 7

Name 4 challenges that face local governments currently

Answer 7

• Aging workforce
• Constrained budgets
• Rising citizen expectations
• Outdated Tech-

Question 8

What does ARR stand for and how does OpenGov’s breakdown?

Answer 8

Annual Reoccurring Revenue: a key metric used by SaaS or subscription businesses that have term subscription agreements, meaning there is a defined contract length. It is defined as the value of the contracted recurring revenue components of your term subscriptions normalized to a one-year period.

Municipality 56%
County 21% 
State 18%
Special District 2%
School District  2%

Question 9

What do the following stand for? TAM, PMF, ICP

Answer 9

• Total addressable market (-Who buys ERP software)
• Product Market Fit (who we build for)
• Ideal Customer Profile (who we target)

Question 10

Which positions are the most common champion of OpenGov

Answer 10

1) Finance Director

2) IT Leader