Robust feature set – including collections, payment gateway framework and compliance management – significantly enhances the quote-to-cash journey(BillingPlatform )
BillingPlatform, the leading global cloud-based monetization and billing solution provider, announced its Summer 2020 product release is live. Based on customer feedback, analysis of emerging market trends and analyst insights, BillingPlatform’s latest release adds new features that automate collections management, connect payment partners and ensure regulatory compliance – all to improve and accelerate cash flow for its customers.
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Used by Xandr, Amadeus, Clear Channel International, Zerto, and other leading enterprises, BillingPlatform is the only billing solution on the market that enables enterprises to move beyond simple subscription or fixed-fee billing with the ability to monetize products with sophisticated usage and rating capabilities. That includes any combination of one-time charges, promotional offers, subscription, consumption, or hybrid-based billing, all on a single, next-generation cloud platform. This unparalleled flexibility puts enterprises in control of how they differentiate in the market and manage and grow their revenue.
This newest release further builds on capabilities from the Spring 2020 release, including change management, operational system insights, advanced credits as well voucher and coupon management. The following new features are now available in the Summer release:
- CollectionsCloud – Launched earlier this month, CollectionsCloud is an innovative product built on industry best practices and in partnership with key enterprise customers that combines automated collections management with an intuitive dashboard to easily configure and manage the entire collections process. The solution enables users to segment customers based on risk and automate collection and dunning activities, helping to optimize employee productivity, reduce overdue payments and improve cash flow.
- Payment Gateway Framework – Based on tremendous demand from customers to monitor the full life cycle of the payment process – from payment initialization to tokenization to payment processing to settlement and chargeback notification – BillingPlatform’s new payment gateway framework gives customers the ability to see the entire payment journey and allow for comprehensive reconciliation between financial systems. It also gives customers the flexibility to select and connect to the payment provider of choice without dependence on BillingPlatform, speeding time-to-market and offering customers the convenience and control they want when making payments to support growth and global expansion.
An API-based common integration framework, new payment partners can directly and easily plug their solution into BillingPlatform, making it possible for a customer or payment provider to handle their own integration and quickly deploy new payment functionality. As the only billing solution on the market to offer this feature, J.P. Morgan is the first payment provider to be qualified on the framework, with other providers currently in pre-qualification stages. - Audit History and Compliance Management – The audit history capability has been significantly enhanced, making regulatory compliance easier and audits more accessible. In addition, existing auditing functionality has been expanded and a new format makes it easier to use. The format includes a newly added search interface that lets an auditor complete various tasks like immediately identify which user modified an address on an account, show the actions of any given user, or track changes to configuration data such as report formats and workflows.
“Our customers are at the heart of the design and development of our software, and the Summer 2020 release is a clear reflection of their trust and confidence in BillingPlatform to deliver the capabilities they need,” said Leo Solomon, CTO and co-founder of BillingPlatform. “As we enhance our platform, we continue to increase both the breadth of its capabilities and its ease of use, and the result is an industry-leading solution our customers can rely on to not only meet their business demands, but also boost their revenue.”
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