BillingPlatform has unveiled its set of platform enhancements from the past year, designed with the intention of aiding in the execution of innovative pricing strategies, granting seamless onboarding from competitive or homegrown solutions, and providing the scale, security, and compliance necessary for global deployments. This follows a flurry of recognitions bestowed upon the firm as the leading billing and subscription management vendor over the last year from trusted sources such as Forrester Research, Ventana Research, and MGI Research.
Last year witnessed an impressive 170% increase in invoices delivered by its customers and a 140% growth in its platform users. This success can be attributed to its market-leading technology and a devotion to an innovative approach, demonstrated by the implementation of over 700 enhancements in 2023. Included in these enhancements was a collaborative focus, with 60% of the changes initiated following customer feedback. The new product innovations delivered in 2023 are extensive and cover multiple aspects of the service.
Dennis Wall, the CEO of BillingPlatform, highlighted key reasons behind the increasing adoption of their platform by large global enterprises. He emphasised the platform's strength in comprehensively handling diverse business models that incorporate transactions, usage data, subscriptions, e-commerce, and more.
"We continue to see common themes driving more large, global enterprises to our platform, most notably the ability to understand and support their unique business models that mix transactions, usage data, subscriptions, e-commerce and more into a single solution focused on automating and accelerating the entire revenue lifecycle management process," stated Dennis Wall.
"Our market growth and unprecedented recognition from industry analysts is due to the advanced features and capabilities of our platform, which is why we collaborate closely with customers on new ideas and continue to invest heavily in new innovations."
Highlights of these new product innovations include the 'Configure & Sell' CPQ solution, augmenting its support for amendments with a before and after comparison view, as well as adding support for proration, co-term agreements, and dealing with other complex use cases. The 'Bill & Invoice' update has also been ramped up, giving further support to complex approval rules while managing to improve ease of use simultaneously. Other improvements also include the launch of the Mediation Data Lake and the fortification of the platform's security.
A number of impressive customer wins have been recently announced by BillingPlatform, including J.P. Morgan, CooperSurgical, and Juniper Square. Furthermore, the company has a burgeoning trophy cabinet, which continues to grow after a fourth year running of being recognised as a fast-growing company on Deloitte's Technology Fast 500 and its third successive year being honoured by the Best in Biz Awards.
This year of recognition and enhancements demonstrates not only the dynamic adaptability and innovation of BillingPlatform but also its dedication to client satisfaction and collaboration. These features will help to secure its position as a market leader.