IDC Positions RecVue as a “Major Player” in IDC MarketScape: Worldwide Subscription Management Applications 2019-2020 Vendor Assessment
RecVue’s Monetization Platform deemed particularly suitable for B2B or B2B2x enterprises with complex non-standard contracts
Hot on the heels of our recent inclusion in an important industry report from Forrester Research, we are pleased to announce that IDC has determined RecVue is a Major Player among the top vendors that offer subscription management applications globally. You can read the full release here: https://prn.to/306xUYI
This was RecVue’s first appearance in an IDC MarketScape report, and IDC specifically pointed out that RecVue is the youngest company to be included among the top vendors. From our standpoint, this report covers only a slice of the monetization needs for large enterprises. Order-to-Revenue has evolved dramatically across industries the past decade and RecVue aims to be the only SaaS provider that is built to support both non-recurring and recurring revenue, and complex pricing with hyper-scale transactions off a single contract.
According to the report’s authors, enterprises should: “Consider RecVue when you are a large B2B or B2B2x company with complex non-standard contracts and need to modernize your monetization systems.” Some of RecVue’s product strengths identified in the report include “contract lifecycle management (which centralizes contract details and amendments), partner compensation management (to analyze margin, determine payment, and send to AP), and integrated revenue recognition.”
Designed for enterprises that need to modernize their legacy billing applications.
As B2B contracts increasingly move to a subscription basis, thousands of enterprises are realizing they need a comprehensive solution to get them across the chasm from a unitary sales business model to an Anything-as-a-Service (XaaS) business model. One of the stand-out value propositions of the RecVue Monetization Platform is that it is designed to provide an upgrade path for enterprises that want to add subscriptions and recurring billing to support contract billing and payments for all revenue on a single solution.
Typically, though, these large enterprises have already invested heavily in ERP software to manage the entire finance function, and thus they need a non-disruptive pathway to expand their revenue recognition stack to include billing for services of almost any type. What we hear from CFOs is that they definitely do *not* want to switch out their existing ERP software or significantly change their workflow to adapt to a XaaS business model.
RecVue solves that problem by providing tight integration with all the major ERP systems and enabling enterprises to embrace new business models, while still operating under their existing business model.
The recurring business model demands continuous adjustment to product and service offerings – including frequent changes to pricing and contracts – and the ability to capture and manage much higher volumes of transactions than was previously required.
RecVue offers the only solution designed from the ground up for high transaction volumes.
RecVue’s B2B monetization solution delivers the agility, flexibility, and scalability to support complex, high-volume recurring revenue business models, while maintaining the financial rigor for reporting and compliance. Global companies have adopted RecVue to reduce their time to market, optimize revenue, eliminate revenue leakage and boost customer satisfaction. Our customers have cut the bill-to-invoice cycle by up to 61% and streamlined Days Receivable Outstanding by more than 25%.