New capabilities further enhance modern, best-in-class platform for enterprise billing and monetization of usage-based pricing models
BillingPlatform, the revenue management solution for today’s innovative business models, announced the latest product enhancements to its core platform, ranging from new configure, price and quote (CPQ) capabilities to application-level encryption for added security. With enterprises increasingly looking for a flexible, modern approach to billing and revenue management, BillingPlatform delivers the right combination of secure, scalable platform capabilities with out-of-the-box support for market-leading ERP, CRM, tax and other enterprise applications to reduce total cost of ownership.
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New product capabilities further optimize the entire quote-to-cash process including:
- Configure & Sell: The addition of CPQ, a module that can assist salespeople in creating complex price quotes driven by a rule-based product catalog, modify them as needed, follow existing approval processes and trigger billing directly in the platform.
- Bill & Invoice: Robust invoice management enhancements include further user configurability, management of invoices as they flow through the entire lifecycle, with improvements to the tracking of pricing changes and multi-invoice period accumulations, streamlining estimations.
- Pay & Collect: Customer & Payment Portal enhancements include improvements in administration of managing user roles, the ability to set rules for selecting merchant accounts for payments and UI improvements to ensure the Portal is rendered in a user’s preferred language.
- Recognize & Report: Improved audit capabilities for sandbox and production instances, user entity tracking to help with SOC compliance and a role permissions check when a user is attempting to perform an advanced query.
- Sustain & Grow: System performance improvements and security enhancements including the addition of industry leading Application-Level Encryption (ALE) capabilities, adding another layer of protection to the platform. BillingPlatform also enhanced partner connectors to tax providers Avalara and Thompson Reuters OneSource and enhanced synchronization of fields with NetSuite and Salesforce, providing more granular execution of jobs. Lastly, users now can select from multiple merchant accounts without tokenizing bank account information with the new Authorize ACH Payment Gateway.
“Last year was defined by an acceleration of opportunities for us, as larger enterprises used the dynamic market conditions of the pandemic to focus on digitally transforming their entire revenue management operations to introduce new business models and automate the quote-to-cash process,” said Dennis Wall, BillingPlatform’s CEO. “These important new platform innovations reflect our close partnership and consultative approach with customers – always listening to what they need to help transform their financial middle office.”
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The new platform features come on the heels of recent company news, most notably the announcement that MGI Research positioned BillingPlatform’s Automated Revenue Management solution as a Market Leader based on an independent analysis of its product, management, strategy, finances and channels. Additionally, the company shared new customer wins – IDP Education and Self Esteem Brands – and released its yearly Trends in Finance survey. The company was also recognized as a silver award winner in the Best in Biz Awards Enterprise Product of the Year – Financial Software category and a fast-growing company on Deloitte’s Technology Fast 500™.