New functionality includes key integrations, subscription enhancements, and advancements in billing and invoicing, accelerating customers’ quote-to-cash journey
BillingPlatform, the leading global cloud-based monetization and billing solution provider, today announced several product enhancements that will increase the flexibility and productivity of its customers. BillingPlatform’s new features include enhancements to current connectors and subscription models, new integrations, and advancements in billing and invoicing functionality – all aimed to accelerate cash flow and improve its customers’ bottom line.
BillingPlatform’s product releases are based on customer feedback, analysis of the emerging market trends and industry analyst insights, and up until last year, have been implemented on a quarterly basis. Following a three-month pilot with overwhelming success, BillingPlatform has moved to a monthly agile release schedule to ensure every customer has easy access to the latest enhancements and new features.
Highlights of the latest release includes the following integrations, features and functionality:
- Enhanced and new integrations added to PlatformCloud:
- Enhancements to the NetSuite connector include the addition of glossaries as an advanced method of transforming data between systems and libraries to incorporate custom logic specific to each unique customer, which reduces the work to link and synchronize data between systems.
- New integrations with Thompson Reuters ONESOURCE tax software and with First Data Payeezy payment gateway increase customers’ vendor options.
- BillingCloud subscription enhancements:
- Ability to retain a copy of original charges on voided invoices for compliance and reporting purposes.
- Flexibility in setting subscription intervals, including monthly, quarterly, semi-annual and annual options, along with the ability to assign the start date.
- Subscription Preview Insights – Lets customers preview future subscription charges based on date range, and weighted against discounts active during each billing period and proactively identify anomalies in subscription configurations.
- BillingCloud advancements in billing and invoicing:
- Auto crediting and related charges – This new feature allows customers to credit associated taxes, discounts and formula products when a credit is issued for a product. This helps to prevent revenue leakage by eliminating over-crediting situations and manual credit calculations.
- Approvals – This feature allows customers to easily define approval workflows based on predefined criteria, streamlining the approval process and reducing workload by auto-approving transactions.
“Our new monthly product release cycle ensures all of our customers are on the same product versions and can gain access to new features and functionality more quickly, while the incremental changes also help reduce the inherent risk larger product updates can bring,” said Leo Solomon, CTO and co-founder of BillingPlatform. “The ability to offer our customers such frequent innovations further underscores our commitment to providing best-in-class billing and monetization solutions, helping them more quickly meet their revenue goals.”
In addition to the new product releases, BillingPlatform has also successfully completed Security Operations Center (SOC) Level 1 and 2 compliance for 2020. SOC compliance ensures clients understand how BillingPlatform’s internal control’s structure functions and are assured these controls have been audited by a third party for compliance. The compliance reports cover the security, availability, processing integrity, confidentiality and privacy of BillingPlatform’s software offerings.
The latest product innovations and compliance certification builds on the company’s momentum so far this year, including new customer win announcements with BrightStar Care and Valley Irrigation. BillingPlatform’s cloud-based software is used by Xandr, Amadeus, Clear Channel International, Zerto, and many other leading enterprises to automate and integrate their entire billing and monetization processes.