Industry
High-Tech and Software
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Technology companies are increasingly seeking to drive more predictable revenue streams from recurring-revenue business models.
Whether it’s SaaS subscriptions, equipment leasing, or milestone-based consulting engagements, more technology firms are offering goods and services under a recurring revenue model that adds more complexity to billing and revenue processes.
Challenges
Nonstandard SaaS contracts with renewals and extensions
High volumes of transactions
Customer-initiated amendments to consulting engagements
Billing errors leading to customer dissatisfaction
Complex pricing models for different tiers of software and hardware
Revenue leakage
Flexible billing terms required to win sales
Manual data entry and error-prone Excel sheets
Nonstandard SaaS contracts with renewals and extensions
High volumes of transactions
Customer-initiated amendments to consulting engagements
Billing errors leading to customer dissatisfaction
Complex pricing models for different tiers of software and hardware
Revenue leakage
Flexible billing terms required to win sales
Manual data entry and error-prone Excel sheets
Nonstandard SaaS contracts with renewals and extensions
This sophisticated billing engine is built to adapt on the fly for every revenue model on the market. One of the chief considerations in the original design of the solution was the ability to process high volumes of data at enterprise speeds. The solution features a configurable interface to GL for accounting entry accuracy, as well.
Why Its Important:
SaaS businesses offerings for products and services cannot be confined to standard expectations, so the customer contracts become complicated. Among the pitfalls of not being able to accommodate this complexity are lost opportunities for revenue income and future growth.
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High volumes of transactions
The RecVue platform was purpose-built, using a microservices design, with the ability to process high volumes of data at enterprise speed as one of the key considerations. This solution was designed with agility and flexibility to handle big volumes at speed and scale, to accommodate future product and service offerings as your business initiatives evolve.
Why Its Important:
Financial transactions are typically not singular activities, but rather a step in the lifecycle of business flow, leading to a multitude of additional transactions. Such transaction multipliers drive up the volume of today’s financial transactions so scalability requirements must always consider all transactions to come out of each individual transaction. Creating an invoice or sales order , or any other transaction, can result in a few lines or a thousand lines. Today’s successful enterprises must be able to handle the potential for millions of financial transactions every day.
Customer-initiated amendments to consulting engagements
RecVue’s partner compensation module becomes the central hub for access and input for each entity (vendors, distributors, resellers, etc.) to do business with partners and customers. Capabilities include consolidating compensation, identifying costs to attain revenue, billing customers and recognizing revenue within compliance and visibility into contractual profitability.
Why Its Important:
A successful business needs to accommodate changing situations, and this incudes circumstances which could require updates to your business agreements. The tools managing contracts and other engagements need to allow for amendments, including changes, deletions and additions, to existing contracts to build longstanding relationships.
Billing errors leading to customer dissatisfaction
RecVue was designed to deliver a bottom line based on accurate reading of a company’s most essential data sets, including trusted billing details, accurately reported revenue and trusted partner compensation details. The platform features a configurable interface to GL for accounting entry accuracy.
Why Its Important:
Your billing is not just a necessary transaction for your business, but a conduit to your customer. This connection represents an ongoing opportunity to build satisfaction, loyalty and a longstanding relationship through a consistent, trusted delivery. Failure to do so doesn’t bode well for that longstanding relationship.
Complex pricing models for different tiers of software and hardware
Consolidate billing and revenue on a unified platform to update and automate your order-to-cash cycle. Learn how RecVue helped consolidate internal systems by downloading the case studies for ACI and Textainer.
Why Its Important:
Leaving such tasks to manual processes wastes time and money and is a waste of staffing resources which could be put to better use toward strategic growth. Learn more on our blog about how to consolidate your complexity.
Revenue leakage
RecVue solution built to anticipate the constant change in recurring revenue business so companies can keep pace with today’s complexity, reduce a reliance on manual processing and limit pricing errors – main causes of revenue leakage
Why Its Important:
You may be losing out on revenue you weren’t even aware you had, a potential bottom-line impact equating to a 1-5% earnings loss, historically. To learn more about the dangers of revenue leakage and how to stop it, read our executive brief.
Flexible billing terms required to win sales
This sophisticated billing engine is built to adapt on the fly for every revenue model on the market. One of the chief considerations in the original design of the solution was the ability to process high volumes of data at enterprise speeds.
Why Its Important:
A flexible, customer-focused billing experience helps businesses get paid faster, reduce the risk of bad debt and adapt quickly to changing customer expectations.
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Manual data entry and error-prone Excel sheets
The RecVue platform is built specifically to eliminate unnecessary manual data entry, automate manual workaround and eliminate reliance on spreadsheets by integrating with existing systems to aggregate data and manage your company’s transactional data processing.
Why Its Important:
The role of accounting has transitioned from ‘bean counters’ and budget planners to future-oriented, strategic partners. Outdated tools such as spreadsheets, formerly the backbone of finance and accounting, and the manual processes they promote, must evolve and give way to better tools for the finance team evolution to maintain its pace.
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World Wide Technology
Take a few minutes to learn more about how RecVue’s wide ranging capabilities solve some very relatable challenges for World Wide Technology
RecVue Advantages
RecVue offers the industry’s first suite of Order-to-Cash solutions that are purpose-built to fully automate the complex processes for billing & invoicing, revenue recognition and partner compensation in a single solution.
Product and Pricing Catalog
Automate unique and complex order-to-cash requirements for billing, partner compensation, and revenue recognition
Contracts and Order Management
Eliminate the paper, PDFs and manual processing and get complete visibility and control.
Usage and Data Mediation
Capture usage data from any source and translate it into standard billing to reduce leakage.
Multi-Attribute Rating and Pricing
Model pricing or rating structures to determine the billable amount. Then optimize revenue based on real-time analysis of your pricing strategies.
Billing and Invoicing
Scale from one-time charges to basic subscriptions to complex usage models with pre-validated bill runs and tailored invoices.
Revenue Recognition and Compliance
RecVue supports the ASC606/IFRS15 and ASC842 frameworks to keep your business GAAP-compliant.
Improve Productivity
Enable your finance team to accelerate period closes, reduce DSO/DRO, and work more efficiently increase your revenue.
Insights
Forecast your billing and revenue recognition with RecVue reporting, giving you a 360-degree view into your business.
Partner Management
Automate payment remittance to partners and other third-party vendors easily and accurately.
See Why RecVue Is The Solution Of Choice For Leading Global Enterprises.
See how RecVue gives you complete control of your recurring revenue contracts.