Global leader in education services streamlines and automates billing and revenue recognition to ensure accuracy and improve interactions with clients
BillingPlatform, the revenue management solution for today’s innovative business models, announced that IDP Education, a global leader in international education services, has selected BillingPlatform as its billing and revenue recognition solution. As part of a multi-year agreement, IDP will use BillingPlatform to automate and scale its revenue management processes while delivering a high-quality experience for students and partner schools as its business expands to keep pace with growing interest in studying abroad.
An Australian-listed company, IDP operates in more than 50 countries and its websites attract 100 million visits each year. IDP has more than 50 years’ experience helping students achieve their international education goals. IDP combines deep human expertise – and trust earned over many decades – with its leading digital platform to help people gain acceptance into their ideal course, take an English language test or learn English in its schools. The company partners with more than 800 leading universities, schools and colleges across Australia, Canada, New Zealand, the United Kingdom, Ireland and the United States.
IDP has helped more than half a million students achieve their international study goals in quality courses around the world. IDP is also a co-owner of the International English Language Testing System (IELTS), the world’s leading English language test for study, work and migration purposes, recognized by more than 11,000 institutions.
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IDP’s growth has accelerated and it is strongly positioned in the rebound as it has delivered smarter and increasingly personalized ways to guide people on their study, career and migration journey. Its ongoing program of innovation reinforces IDP’s industry leadership position. As the business scales, IDP recognized that its legacy billing was not able to support its different billing domains and often required manual processes to generate accurate bills.
“No other organization has the scale and reach to compare with our highly trained and trusted counsellors, who help students from course search, through placement and their study and on into new careers,” said Murray Walton, IDP’s Chief Financial Officer. “As part of a broader initiative to digitally transform our operations, BillingPlatform stood out in the market, not only for its innovative technology, but also its consultative approach to understand the intricacies of our business and how best to support it.”
After a thorough competitive review, IDP is deploying BillingPlatform’s BillingCloud and Revenue Recognition products. This combination provides IDP with a secure, reliable and agile revenue management platform to support its increasingly complex business model with a solution that is accurate and automated to improve the customer experience.
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“Given the critical nature of revenue management to on-going operations, too many businesses are limited by legacy technologies or solutions that are inefficient, inaccurate, or require manual intervention to support complex offers driven by changing market dynamics and customer expectations,” said Dennis Wall, CEO at BillingPlatform. “Given its size, global reach and diverse business model, IDP is a great fit for our cloud platform architecture and ability to automate and scale revenue management processes to fuel business growth.”
BillingPlatform is the only revenue management solution on the market that enables enterprises to monetize any type of product offering, from simple subscriptions to sophisticated usage-based pricing models and everything in between. BillingPlatform provides full lifecycle support of the monetization process – from product setup, quoting, billing and invoicing, revenue recognition, through payment and collections – all on a secure, next-generation cloud platform. The unparalleled flexibility of the platform puts enterprises in control of how they differentiate in the market, maximize profitability, reduce operational costs and improve the customer experience.
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