Revenue management company BillingPlatform has announced a range of new product capabilities and developments for the finance and commerce markets.
Expanding from its core platform, the technology developments range from new configuration, price and quote (CPQ) capabilities to application-level encryption for added security.
BillingPlatform says the advancements will help the company provide a more flexible, modern approach to billing and revenue management, with secure, scalable platform capabilities and reduced costs.
New product capabilities further optimise the entire quote-to-cash process, including:
Configure and sell capabilities
The company has introduced the addition of CPQ, a module that can assist salespeople in creating complex price quotes driven by a rule-based product catalogue. They can also modify them as needed, follow existing approval processes and trigger billing directly in the platform.
Billing and invoicing improvements
Invoice management enhancements include further user configurability and management of invoices as they flow through the entire lifecycle. There are also improvements to the tracking of pricing changes and multi-invoice period accumulations, streamlining estimations.
Pay and collect features
Customer and payment portal enhancements include improvements in the administration of managing user roles. Enterprises will also have the ability to set rules for selecting merchant accounts for payments and UI improvements to ensure the portal is conveyed in a user's preferred language.
Added security and audit processes
The addition of improved audit capabilities for sandbox and production instances are implemented, with user entity tracking to help with SOC compliance and a role permissions check when a user is attempting to perform an advanced query.
Overall growth enhancement and safety features
There are also general system performance improvements and security enhancements, including the addition of industry-leading Application-Level Encryption (ALE) capabilities. BillingPlatform also enhanced partner connectors to tax providers Avalara and Thompson Reuters OneSource and enhanced synchronisation of fields with NetSuite and Salesforce, providing more granular execution of jobs. Lastly, users can now select from multiple merchant accounts without tokenising bank account information with the new Authorize ACH Payment Gateway.
BillingPlatforms CEO Dennis Wall says the new developments prove that the company are committed to helping businesses transform their commerce and finance operations.
"Last year was defined by an acceleration of opportunities for us, as larger enterprises used the dynamic market conditions of the pandemic to focus on digitally transforming their entire revenue management operations to introduce new business models and automate the quote-to-cash process," he says.
"These important new platform innovations reflect our close partnership and consultative approach with customers always listening to what they need to help transform their financial middle office."
BillingPlatform provides commerce and finance services to global customers across multiple industries, including communications, transportation, manufacturing, banking, technology, energy, media and software.