High-Tech and Software
Forecast your billing and revenue recognition with RecVue reporting.
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
RecVue Resolution/Response:
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.
Resources:
Customer-initiated amendments to consulting engagements
RecVue Resolution/Response:
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.
Resources:
Complex pricing models for different tiers of software and hardware
RecVue Resolution/Response:
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.
Resources:
Flexible billing terms required to win sales
RecVue Resolution/Response:
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.
Resources:
High volumes of transactions
RecVue Resolution/Response:
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.
Resources:
Billing errors leading to customer dissatisfaction
RecVue Resolution/Response:
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.
Resources:
Revenue leakage
RecVue Resolution/Response:
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.
Resources:
Manual data entry and error-prone Excel sheets
RecVue Resolution/Response:
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.
Resources:
RecVue Billing & Invoicing For Software & Technology Datasheet
Learn more about how RecVue’s powerful billing capabilities can be put to use for your specific technology needs.
More Resources
WWT
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
Use configurable, pre-defined pricing models and standard or custom billing cycles.
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 efficientlyincrease 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.
Revenue and Compliance Should Not be Complicated.
Contact us for a demo to see how RecVue gives you complete control of your recurring revenue contracts