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Freestyle Software Announces Release of Version 12 of Multichannel Order Manager (M.O.M.)

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Freestyle Software Announces Release of Version 12 of Multichannel Order Manager (M.O.M.)

Freestyle Software, the industry leading provider of order, inventory and operations management solutions for the SMB eCommerce market, has announced the availability of version 12 of Multichannel Order Manager (M.O.M.).

Version 12 marks the second major release of M.O.M. since 2020 and is the result of extensive conversations, focus groups and collaboration with our customers. The principle of Customer Centric development has been Freestyle’s focus as M.O.M. continues to build on the industry’s leading functional footprint for the SMB market.

The latest version includes substantial improvements to security and is one of the first applications to be certified under the new, more stringent, PCI–S3 requirements. In addition to many other improvements to security and refinement of the use of tokens, version 12 introduces:

  • Improved integrations to Shopify, BigCommerce and Salesforce Commerce Cloud
  • New integration to Avalara
  • International Shipping module as part of our continued collaboration with Shippo
  • Improvements to the ease of use of M.O.M.
  • Optimization of existing features and tasks

“We know the world of eCommerce changes rapidly and Freestyle must deliver what our customers tell us they need as quickly as possible, so we continue to listen to our customers and deliver improvements to M.O.M. at a record pace” remarked Jim Cahill, president of Freestyle Software.

Read More: SalesTechStar Interview with Krish Mantripragada, Chief Product Officer at Seismic

“Version 12 builds on the accelerated delivery of improvements to market which began with the initial release of Version 11 and followed with the introduction of significant, new improvements in subsequent updates, so we will continue that pace with version 12,” Cahill added.

Read More: Staying Ahead of the Fall: How Sales Teams Can Be Proactive When the Economy Tightens

“Customer input is vital to our development process and has resulted in the many substantial improvements in version 12,” said Ian Ouano, director of product development for Freestyle. “We will continue this collaboration with customers in every phase of our roadmap.”

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OneStream Launches Solution Exchange to Accelerate Delivery of New Business Solutions to Customers

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OneStream Launches Solution Exchange to Accelerate Delivery of New Business Solutions to Customers

New program enhances platform development experience with the addition of partner-built and community shared solutions

OneStream Software, a leader in corporate performance management (CPM) solutions for the world’s leading enterprises, announces the launch of the OneStream Solution Exchange. The Solution Exchange builds on the success of the OneStream MarketPlace and the inaugural OneStream Wave Developer conference to further enhance the OneStream platform development experience with the addition of partner-built and community shared solutions.

“The Solution Exchange will also enable OneStream to offer more tailored options for customers to expand the platform in new functional and industry-specific areas while leveraging OneStream’s core platform enablers such as data management, built-in financial intelligence, analytic services and AutoAI.”

The Solution Exchange will accelerate the development and delivery of new solutions to OneStream customers to help extend the value of their investments in the platform. The Solution Exchange consists of three solution portals: MarketPlace, PartnerPlace and OpenPlace.

MarketPlace solutions will continue to be developed, maintained and supported by OneStream, and we will continue to deliver new solutions such as Sensible ML for demand planning to address business challenges identified by customers.

Read More: Exiger Brings Supply Chain Explorer To Snowflake’s Manufacturing Data Cloud

PartnerPlace will provide value-added solutions developed, maintained and supported by our partner community. These solutions will be more readily available to OneStream customers through the Solution Exchange and will be priced and licensed for download by customers and supported by the respective partners. The initial launch of the PartnerPlace will include the below partners and solutions:

  • AMCO: Lease Accounting
  • Black Diamond Advisory: OneStream Utility Bundle
  • Finit: DrillIt, AllocateIt, and ToolkIt
  • Spaulding Ridge: Dynamic Cash Flow
  • Strategic IQ: Automotive Planning Factory

OpenPlace solutions are community-shared solutions and capabilities that may be provided by all members of the OneStream ecosystem. These solutions may be supplemented by a moderated forum on OneStream’s OneCommunity user site. These community shared OneStream platform solutions and capabilities may include OneStream customer, partner, and employee-developed utilities and blueprints.

Initial OpenPlace solutions include the following:

  • OneStream CPM Blueprint – provides a best practices framework that helps accelerate speed to value for implementations by incorporating leading design patterns to address common requirements derived from hundreds of customer deployments.
  • OneStream ESG Blueprint – provides organizations with pre-defined calculations for Scope 1 and Scope 2 greenhouse gas emissions and configuration of ESG-specific reporting and planning capabilities through the OneStream platform.

Read More: SalesTechStar Interview with Krish Mantripragada, Chief Product Officer at Seismic

“By enhancing the developer experience for the OneStream community, the Solution Exchange will accelerate the development and delivery of new tools and solutions that help customers extend the value of the OneStream platform,” said Tom Shea, CEO at OneStream. “The Solution Exchange will also enable OneStream to offer more tailored options for customers to expand the platform in new functional and industry-specific areas while leveraging OneStream’s core platform enablers such as data management, built-in financial intelligence, analytic services and AutoAI.”

Feedback from customers, partners and industry experts highlight the benefits of the OneStream Solution Exchange in providing tailored, enhanced solutions to extend the value of the OneStream platform.

“Cimpress has extended the value of our OneStream investment through several of the solutions available for download via the OneStream MarketPlace,” said Michelle Greenberg, Director, Corporate Systems and Process at Cimpress. “The Solution Exchange will provide us access to a broader array of tools and solutions from OneStream partners, and other customers, that we may not have been aware of before and which can further add value to our investment.”

“OneStream’s approach to providing downloadable solutions that extend the capabilities of their platform via the MarketPlace is truly unique in that the solutions are easily configurable and ready to be deployed,” said Craig Schiff, CEO and President at BPM Partners. “Expanding this initiative to partners via the Solution Exchange should accelerate the development and delivery of new solutions on the OneStream platform that can address a broader range of customer business challenges.”

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Pocus, Leader in Product-Led Sales, Launches Revenue Data Platform

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Pocus, Leader in Product-Led Sales, Launches Revenue Data Platform

Pocus Company Profile: Valuation & Investors | PitchBook

Pocus, the leader in Product-Led Sales, has launched its Revenue Data Platform to democratize data for go-to-market teams. Pocus’ Revenue Data Platform accelerates revenue by enabling go-to-market teams to analyze, visualize, and action data about their prospects and customers without needing engineers.

“When we first started Pocus, people called us PLG CRM or Product-Led Sales (PLS) tool, because it was the primary use case we enabled for customers,” said Alexa Grabell, CEO and Co-Founder at Pocus. “As we’ve onboarded more customers, their needs have expanded beyond sales and PLG use cases. Our customers have explicitly called Pocus the engine that runs their go-to-market, and Revenue Data Platform accurately captures that value.”

Modern GTM teams rely heavily on product usage data to drive better experiences at every point of the customer journey. These teams get the most value from consuming data. Yet, go-to-market teams are underserved by existing data platforms built for more technical teams.

Read More: SalesTechStar Interview with Krish Mantripragada, Chief Product Officer at Seismic

Pocus was founded to solve this problem for sales teams and has since evolved to serve the entire go-to-market function – sales, success, growth, and marketing.

Key components of our updated platform include:

  • Revenue Data Graph: Break down data silos by combining data from various sources into a format that is accessible for GTM teams to run any playbook.
  • 360 Insights: Cut through the noise. Surface top opportunities and go from insight to action quickly.
  • Playbooks: Build, test, and run go-to-market playbooks powered by product usage insights.
  • Reporting: Reliably hit your goals. Get visibility into what playbooks are performing well and how individual reps are performing so you can tune playbooks and coach reps for more repeatability.
  • Automation: Keep your data in sync across tools and automate workflows based on product usage triggers.
  • Pocus Predicts: Tune your playbooks in real-time with AI-powered recommendations.

Since launching, customers have analyzed billions of rows of data and surfaced millions of new leads in the Pocus platform. Customers see a 50% increase in qualified lead volume, 20%+ conversion on those leads, and a 32% lift in average deal sizes. Pocus has become central to the go-to-market workflows for customers like Miro, Webflow, Loom, Superhuman, and more. Users are also noticing the time savings and efficiency, on average, users are saving 10+ hours a week digging through various data sources.

“Our PLG motion generates a ton of sign-ups every week and it’s difficult for our reps to find high potential opportunities that are a perfect customer fit for our enterprise product,” said Taylor Gibson, Director of Commercial Sales at Loom. “Pocus makes it easy to analyze our usage data and target the right users. Beyond the platform, Pocus has been a great thought partner as we scale our product-led and sales motions, arming us with proven playbooks across the customer journey.”

Read More: Exiger Brings Supply Chain Explorer To Snowflake’s Manufacturing Data Cloud

Write in to psen@itechseries.com to learn more about our exclusive editorial packages and programs.

2023 Executive Report: Half of Supply Chain Executives Say Proactive Investment in Integration Technology Increased Revenue

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2023 Executive Report: Half of Supply Chain Executives Say Proactive Investment in Integration Technology Increased Revenue

Improved agility, control, and risk mitigation named as key investment outcomes driving growth

According to Cleo’s 2023 Global Supply Chain Executive Report, half (49%) of senior executives surveyed say that making proactive investments in integration technology has increased their company’s agility, which enabled them to gain $1 million or more in additional revenue in 2022. About one-fifth (18%) said the additional revenue provided by increased agility equated to $3 million or more.

The findings of the survey indicate that improved supply chain and organizational agility results from investment in ecosystem integration technologies, which executives confirm benefit revenue growth, but also impact their companies in myriad positive ways, including:

  • More business continuity (44%)
  • Stronger relationships with trading partners (33%)
  • Improved end-to-end visibility (32%)
  • Better scalability (32%)
  • Faster pivots to deal with changes in business conditions (31%)
  • Increased profits (27%)

The survey was conducted by Dimensional Research, Inc. on behalf of Cleo.

Read More: Improving The Customer Purchase Journey With QR codes

“Agility, which is achieved through ecosystem integration technology that takes an API-first approach, is what delivers business continuity. By providing greater visibility and control over a company’s day-to-day business activities, teams can better identify and execute on opportunities to strengthen valued ecosystem relationships.”

“Looking at the past few years, even before the pandemic, supply chain challenges have long been troubling to executive leaders because they are typically assumed to be caused by external factors that can be difficult to control,” said Tushar Patel, CMO at Cleo. “But combating these external challenges and disruptions – partner demands, shipping availability, supplier requirements, or manufacturing shortages – and internal challenges like resource shortages, really comes down to taking control of an organization’s integration backbone. Otherwise, the fact is, the root cause of these challenges will likely persist for years to come.”

In response to these issues, many companies are investing in back-office and supply chain technologies to regain control – investments aimed at improving organizational agility, which can lead to huge financial gains. In fact, 83% of respondents say their businesses invested $100K or more in supply chain technology during 2022. Some 32% invested more than $500K, up from only 20% in 2021. And 85% said they plan to invest $100K or more in supply chain technology in 2023.

The two top ecosystem-oriented supply chain solutions in which companies invested in 2022 included eCommerce platforms (35%) and integration solutions (33%). Integration solutions are a key component of agility because they sit at the center of businesses’ work to optimize and connect their entire B2B digital ecosystem – from partners, customers, and shippers to internal systems like an ERP, TMS or WMS.

“The benefits of a well-integrated digital ecosystem include greater efficiency and control, as well as fewer crippling disruptions and partner-related business issues,” Patel added, noting that 74% of executives reported that in 2022 their business was disrupted for more than a week due to partner issues.

Finally, companies did not shy away from suspending underperforming sales channels in 2022 (87% did so), while also taking advantage of their newfound agility to introduce new sales channels. A full 99% of companies added at least one new sales channel in 2022, with 51% adding 3 or more. This ability to control onboarding times of additional sales channels and new trading partners resulted in most companies enjoying higher profits and increased efficiencies.

“For growth-minded executives, the main takeaway from Cleo’s 2023 Executive Survey is clear: More agility and control means more money in the bank,” Patel concluded. “Agility, which is achieved through ecosystem integration technology that takes an API-first approach, is what delivers business continuity. By providing greater visibility and control over a company’s day-to-day business activities, teams can better identify and execute on opportunities to strengthen valued ecosystem relationships.”

Read More: SalesTechStar Interview with Mike Myer, CEO and Founder of Quiq

Write in to psen@itechseries.com to learn more about our exclusive editorial packages and programs.

Pax8 Welcomes Carrie Schiff as Chief Legal Officer

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Pax8 Welcomes Carrie Schiff as Chief Legal Officer

Pax8, the leading cloud commerce marketplace, announced the appointment of Carrie Schiff as its inaugural Chief Legal Officer (CLO), joining the company’s C-Suite. The announcement was made today as part of Pax8’s efforts to cultivate a cadre of visionary leaders to provide strategic direction during the company’s growth and expansion. Schiff’s primary responsibilities as CLO will be to manage Pax8’s legal team, ensure compliance across its global operations, and help drive the mergers and acquisitions process. She will report to John Street, Pax8’s Chief Executive Officer.

“We are delighted to have Carrie join our team and trust she will make a significant impact on the future of Pax8,” said Street. “I have known Carrie since the 1990s and she is an exceptional leader with a wealth of experience and expertise in legal affairs that will be invaluable as we continue to grow and expand our business globally.”

Read More: Fabric Teams Up With AWS To Reinvent The Next Generation Of E-Commerce Technology

Schiff’s outstanding accomplishments as a prominent legal advisor for both publicly held and venture-backed start-up companies have made her move to the position of CLO for Pax8 seamless. With over 30 years of legal experience, Schiff has served as General Counsel, Chief Legal Officer, and Chief Compliance Officer for both public and private companies such as MWH Global, Inc., Flextronics International LTD, and USA.NET, Inc. In addition, Schiff was a partner in a global law firm and a business boutique firm that she co-founded.

“I have worked with Carrie during my career, and I am thrilled that she has joined us as we continue on our path of rapid growth,” said Scott Chasin, Chief Technology Officer. “Her exceptional abilities in driving legal and regulatory affairs, as well as business development and compliance, will have an immediate impact and enable us to scale up.”

Read More: SalesTechStar Interview with Mike Myer, CEO and Founder of Quiq

Schiff received her Juris Doctorate from the University of California, and a Bachelor of Arts with honors in Political Science from the University of Chicago. In 2008, Schiff was a recipient of the prestigious 2008 Burton Award for Legends in Law given to General Counsel by Burton Foundation in association with Library of Congress. Schiff is a former member of invitation-only Association of General Counsel comprised of General Counsel of Fortune 100 companies and served as a Board member of the Colorado Chapter of Association of Corporate Counsel.

Certified to practice law in Colorado and California, Schiff currently serves as a Board Member to the Colorado, Small Business Development Center (SBDC); Advisor to Blackstone Entrepreneur Network; Advisor to the Public Private Partnership Unit of the State of Colorado; Lecturer for numerous SBDC, Incubator, and Accelerator programs on business law topics; and a member of the Education Committee of Blue Sky Bridge, a Child Advocacy Center in Boulder, Colorado.

“My decision to join Pax8 stems from my desire to collaborate with an exceptional team of individuals, have fun, and enjoy the journey,” said Schiff. “As someone with a keen interest in promoting economic development and supporting small businesses, I am excited to be part of Pax8’s mission to empower the small business community. Small businesses are integral to our economy, and I am eager to contribute to their growth and success through my role at Pax8.”

Write in to psen@itechseries.com to learn more about our exclusive editorial packages and programs.

Ventana Research Ranks BillingPlatform as the Overall Leader and an “Exemplary Vendor” in 2023 Subscription Management Value Index

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Ventana Research Ranks BillingPlatform as the Overall Leader and an “Exemplary Vendor” in 2023 Subscription Management Value Index

Independent analysis from leading market research firm analyzed 21 technology vendors across seven product and customer experience criteria for enterprise subscription management

BillingPlatform, the enterprise monetization platform for today’s innovative business models, today announced that Ventana Research, a leading technology research and technical advisory services firm, has ranked BillingPlatform as the Overall Leader and an “Exemplary Vendor” in its 2023 Subscription Management Value Index report. In a detailed market analysis evaluating 21 vendors, Ventana Research writes, “BillingPlatform was categorized as an Exemplary Vendor and was the overall leader in this Value Index evaluation. It ranked first in Product Experience where it was designated a Value Index Leader in Usability, Reliability and Capability.”

The Subscription Management Value Index is a quantified, research-based index designed to assess the maturity of software vendors and products and their value for enterprise use in subscription management. Structured to replicate an RFI/RFP process by incorporating all criteria needed to evaluate, select, utilize and maintain technology and relationships with vendors, the report is an assessment of how well vendors’ offering will address enterprise buyers’ requirements for subscription management software.

Read More: Fabric Teams Up With AWS To Reinvent The Next Generation Of E-Commerce Technology

“Enterprises across industries are looking to transform and modernize their businesses to accelerate revenue with new subscription-based business models,” said Stephen Hurrell, VP & Research Director in the Office of Revenue at Ventana Research. “As our Subscription Management Value Index shows, BillingPlatform is a technology leader with a range of connectors to more easily integrate into existing ERP, CRM and other systems so enterprises can add and manage new sources of revenue without negatively impacting the customer experience.”

With global customers serving multiple industries, including software, finance, media and entertainment and communications, BillingPlatform is the only billing and revenue management solution on the market that enables enterprises to monetize any type of product offering, from simple subscriptions to sophisticated usage-based pricing models and everything in between. BillingPlatform provides full lifecycle support of the monetization process – from product setup, quoting, billing and invoicing, revenue recognition, through payment and collections – all on a secure, next-generation cloud platform. The unparalleled flexibility of the platform puts enterprises in control of how they differentiate in the market, maximize profitability, reduce operational costs and improve the customer experience.

“The combination of being named the overall leader in both Ventana’s Subscription Management Value Index and Forrester’s recent SaaS Recurring Billing Solutions Wave provides independent and expert validation of our clear technology leadership,” said Dennis Wall, CEO of BillingPlatform. “As Ventana noted, our innovative product experience and strong ROI are fueling our growth and momentum with enterprise customers across industries and around the world.”

BillingPlatform has earned many accolades this past year, including being recognized as the Leader in Forrester Research’s “The Forrester Wave™: SaaS Recurring Billing Solutions, Q1 2023,” named to Constellation Research’s Smart Services Digital Monetization ShortList™ for 2022, positioned as an Automated Revenue Management Market Leader by MGI Research and named a leader in the IDC MarketScape: Worldwide Enterprise-Focused Subscription and Usage Management Applications 2022 Vendor Assessment. The company was also recognized for a third year in a row as a fast-growing company on Deloitte’s Technology Fast 500™, honored by Best in Biz Awards for its third consecutive year and listed on the 2022 Inc. 5000.

Read More: Staying Ahead of the Fall: How Sales Teams Can Be Proactive When the Economy Tightens

Write in to psen@itechseries.com to learn more about our exclusive editorial packages and programs.

Banma Selects Cerence to Bring Conversational AI to China’s Largest OEMs

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Banma Selects Cerence to Bring Conversational AI to China’s Largest OEMs

Cerence_Logo_V full color.png

Shanghai Volkswagen Automotive Co. (SVW) and FAW-Volkswagen (FAW-VW) will leverage Cerence’s multi-lingual solutions to deliver safer, more convenient in-car experiences

Cerence Inc., AI for a world in motion, today announced that Chinese smart car supplier Banma has tapped Cerence to bring advanced in-car conversational AI and voice recognition technology to Banma’s automaker customers, including Shanghai Volkswagen Automotive Co. (SVW) and FAW-Volkswagen (FAW-VW).

Banma provides smart car operating systems and digital transportation solutions for the automotive and transportation industries. By partnering with Cerence, Banma can deliver its key customers market-leading voice recognition and AI-powered, in-car intelligence solutions, enabling them to create unique and compelling brand experiences for drivers and passengers.

Read More: SalesTechStar Interview with Krish Mantripragada, Chief Product Officer at Seismic

Cerence’s pioneering conversational AI enables in-car assistants to function as proactive, trusted co-pilots, leading drivers through their daily journeys while staying safe, informed and comfortable. Embedded directly into the vehicle’s head unit, Cerence AI solutions offer suppliers and OEMs unmatched computing power while giving them the flexibility to integrate with onboard, cloud and hybrid applications.

“We are dedicated to bringing our OEM customers the most innovative technologies to power top-notch experiences for drivers and passengers,” said Jiang Ke, General Manager of Volkswagen Business, Banma. “Cerence offers not only leading technology but a framework and approach that empowers us to deliver that technology in a flexible, integrated way. By bringing voice recognition and conversational AI into our solutions, we can better provide the kinds of personalized in-car experiences OEM are looking for today.”

Cerence offers broad language support across its solutions. Banma will be leveraging the Chinese, Cantonese and English language programs as it rolls out the technology to OEM customers.

“Partnering with Banma is evidence of our continued expansion of strategic business partners in China and underscores the criticality of our multi-lingual capabilities and global support teams in bringing our innovations to drivers worldwide,” said Bob Ligon, Chief Revenue Officer, Cerence. “SVW and FAW-VW are two of the largest OEMs in China, and we look forward to delivering technology that can help them make vehicles safer and more connected.”

Read More: Ironclad Named A Leader In The IDC MarketScape On Buy-Side Contract Life-Cycle Management

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AccuLynx Launches New AI-Powered Lead Intelligence Feature to Help Roofing Companies Improve Sales

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AccuLynx Launches New AI-Powered Lead Intelligence Feature to Help Roofing Companies Improve Sales

Predictive analytics in AccuLynx revolutionizes the sales qualification process for roofing contractors

AccuLynx, the leading provider of all-in-one business management software for roofing contractors, today announced the company has added a new Lead Intelligence feature to its platform. Lead Intelligence, which uses Artificial Intelligence to predict homeowner buying behavior, empowers roofing companies with data that aims to help them prioritize sales efforts on leads that are most likely to buy from them. This feature streamlines the lead vetting process, which is often a time-consuming and subjective approach that can be less effective among inexperienced sales reps.

Read More: SalesTechStar Interview with Krish Mantripragada, Chief Product Officer at Seismic

Lead Intelligence is a game-changer for roofing companies,” said Mark Rattin, VP of Product at AccuLynx

“Lead Intelligence is a game-changer for roofing companies,” said Mark Rattin, VP of Product at AccuLynx. “AccuLynx customers no longer have to guess which leads to call first, or only rely on their experienced sales people to quickly close deals. Now they can improve their sales win rates by focusing their efforts on the best leads.”

AccuLynx’s Lead Intelligence feature uses hundreds of permission-based third party data attributes, including demographic, financial, and property-based information, to assign a score to a lead.

The “Lead Rank” is displayed for both Leads and Prospect records in AccuLynx, allowing users to filter and sort opportunities by “Lead Rank” in addition to other criteria. This new feature is included with all AccuLynx subscriptions.

“Lead Intelligence supports our mission of providing roofing contractors with easy-to-use technology tools that help them work smarter and grow their business,” said Mike Stein, CEO of AccuLynx. “It will simplify our customers’ sales processes and increase their conversion rates.”

Read More: Project44 Strengthens Executive Team With Addition Of Renee Mauldin As Chief People Officer

Write in to psen@itechseries.com to learn more about our exclusive editorial packages and programs.

Gotransverse Ranks as “Exemplary Vendor” in Ventana Research Subscription Management Value Index for 2023

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Gotransverse Ranks as “Exemplary Vendor” in Ventana Research Subscription Management Value Index for 2023

Receives high marks for adaptability, integration, and API support

Gotransverse , the leading provider of enterprise order-to-cash solutions, announced that the Gotransverse intelligent billing platform has ranked as an Exemplary Vendor in the Ventana Research Subscription Management Value Index for 2023. Gotransverse ranked as exemplary from a field of 21 subscription management vendors evaluated.

“Gotransverse consistently ranged in the upper middle range of our evaluation,” according to the Ventana Research report. “Gotransverse’s strongest performance came in Adaptability with 82.7%, where it did well with integration and API support.”

The Ventana Research Value Index evaluates seven key areas: Adaptability, Capability, Manageability, Reliability, and Usability. It also considers two customer experience categories – Validation and Total Cost of Ownership/Return on Investment (TCO/ROI). The Index is designed to look beyond IT requirements, considering business drivers to minimize risk when making a purchasing decision.

Read More: Improving The Customer Purchase Journey With QR codes

“Adaptability is of increased importance for today’s businesses as billing models are constantly changing,” said James Messer, founder and CEO of Gotransverse. “Although our roots are in the complex markets of telecommunications, our intelligent billing platform has proven ideal for financial services, energy, media and entertainment, cloud services, and other global industries driven by subscriptions, usage-based transactions at scale, recurring revenue, and pre-paid services. Ventana Research’s latest Subscription Management Value Index gave us high marks for adaptability and product experience, and we are striving to continually add value in other areas. We understand that the billing engine is a pivotal part of any business, and as our customers develop new revenue models, their success becomes our success.”

Industry innovators across several markets are using Gotransverse’s intelligent billing platform. Some of Gotransverse’s current customers include Alarm.com, Clickatell, CorporateOne, Adevinta, Ensono, FlexTrade, Mediaocean, Omni Fiber, Royal Schiphol Group, Starz Play, Telstra (Belong), Ytel, and Ziply Fiber.

“More and more organizations are looking to complement their product ranges with new, subscription and usage-based products and services,” says Stephen Hurrell, VP & Research Director of the Office of Revenue at Ventana Research. “Rather than rip and replace existing systems, they are looking for ways to leverage their existing ERP and CRM systems with applications that enable them to add and manage new sources of revenue without interrupting or complicating the customer experience. The Subscription Management Value Index is the most comprehensive report of such application vendors.”

Read More: SalesTechStar Interview with Mike Myer, CEO and Founder of Quiq

Write in to psen@itechseries.com to learn more about our exclusive editorial packages and programs.

Decoding the Quarterly SaaS Budget: Amid Economic Downturn, Vendr Report Provides Insights into Software Purchases for Transparent Decision-Making

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Decoding the Quarterly SaaS Budget: Amid Economic Downturn, Vendr Report Provides Insights into Software Purchases for Transparent Decision-Making

SaaS is open for business, particularly for sales, revenue, and data; uptick in AI-powered tools; average contract value increases 23%

To help companies make faster, more informed software purchasing decisions, Vendr today released its inaugural SaaS Trends Report: Q1 2023. Findings show significant investment over the last quarter in three core categories: sales and revenue; engineering and security; and communications and collaboration, which signals revenue strategy as a priority over prevailing growth headwinds. With higher costs incurred by inflation and a slim market share for top SaaS players, the report also validates 2023 as the year of the price hike, with data showing average contract values (ACV) rising to $137,072—a 23% increase from 2022.

“The SaaS industry is facing a perfect storm of economic pressures and compliance demands,” said Vendr CEO + co-founder, Ryan Neu. “Rising interest rates, complex security requirements, and the impacts of Silicon Valley Bank’s recent collapse are requiring companies to invest in innovation while balancing profitability with affordability. Q1 2023 shows us that businesses are putting their money where their mouths are: sales and revenue, security and engineering, and collaboration are top priorities, and companies that invest in these areas while striking the appropriate balance in spend are the ones that will succeed.”

Backed by historical data from billions in spend processed from tens of thousands of deals and thousands of suppliers, Vendr analyzed 2,900+ transactions in Q1 2023 to help quantify SaaS and inform better, data-driven decisions for buyers.

Read More: AVANT Named Top Partner Of The Year By Tangoe

Key findings from Vendr’s SaaS Trends Report: Q1 2023 include:

  • AI leading the charge: AI-powered software is becoming more essential for businesses, with 36% of tools purchased in Q1 having AI features.
  • Top new purchases: Salesloft and Drata top the list of new purchases, displaying an emphasis on investing in sales/revenue alongside security and compliance.
  • Economic factors + ACV: An increase in federal interest rates may be related to the consistent increase in ACV of SaaS purchases over the past 12 months, which rose by 23% in Q1 2023.
  • Diversifying the SaaS portfolio: Prominent names like Salesforce, Zoom, and DocuSign constitute only 13% of transactions, while 900+ diverse products contribute to the majority of sales.

Read More: SalesTechStar Interview with Mike Myer, CEO and Founder of Quiq

As software prices continue to increase, the report also determined six key factors influencing SaaS purchasing heading into Q2:

  • Streamlining SaaS usage: Companies are cutting down on SaaS sprawl by opting for fewer products and shorter contract terms.
  • Focused spending: Recent trends indicate increased spending on specific, targeted SaaS products by businesses.
  • Cost-reduction strategies: As budgets are put under a microscope, companies are implementing cost-cutting measures in response to price hikes for critical SaaS services.
  • Enhanced integration: Improved integration capabilities offered by SaaS products allow companies to connect existing systems more seamlessly, reducing the need for additional services.
  • Reducing redundancy: Companies are addressing overlapping functionality in SaaS products to eliminate inefficiencies.
  • Simplified procurement: Businesses are working with fewer vendors to streamline procurement processes and reduce administrative burdens.

Write in to psen@itechseries.com to learn more about our exclusive editorial packages and programs.

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