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Codacy has been a Chargebee customer since 2016. When the team signed up for Chargebee, they needed a billing system that would save them the countless hours it would take to maintain and scale their current in-house solution with Stripe. The system required them to make changes to the code base each time they wanted to make updates to the billing process or fix issues. The codebase got more complex, and the changes ate into development time.
The team needed all their invoicing, reporting, and taxes in one place. And since they had outgrown their in-house solution, they needed a solution that gave the team back the development time they were losing to fix issues in their codebase. After a rigorous selection process, Chargebee was selected as Codacy’s billing partner, and the system was implemented in three days.
With a new client contract coming in that would expand their billing needs, they needed a solution that could:
Recognize revenue per the GAAP accounting standards and rules
Automate revenue recognition in a way that worked seamlessly with their current billing solution
Work seamlessly with their existing tech stack
Of course, revenue recognition was the highest on the list, but Codacy also faced a challenge with its commissions. They needed something that could work in tandem with Chargebee, the existing billing solution - and be implemented quickly. Chargebee’s robust offering had the perfect solution: Chargebee RevRec, an automated, ASC 606 compliant revenue recognition solution.
Since Codacy had Chargebee already in place, adding Chargebee RevRec to their existing billing structure was straightforward. Chargebee RevRec’s seamless integration with Chargebee billing and the team’s data sources made it the natural solution.
Chargebee RevRec ticked all of the boxes on Codacy’s evaluation list for a revenue recognition solution by:
Providing an easy-to-use and user-friendly software
Offering quick implementation
Having daily syncs for product catalog, customers, subscriptions, and invoices to ensure accuracy
Eliminating manual work & bringing in accuracy on mid-term contract modifications
Allowing commissions to be available alongside the sales contract
Amortizing commission revenue over time
Because of Chargebee RevRec’s seamless integration with Chargebee billing, the team could get another quick and smooth implementation.
With Chargebee RevRec, the team can quickly pull compliant, accurate reports such as Unearned Revenue Rollforward, Commission details, and Sales Order summary that give precise information on their business health. Not only is the Codacy team reporting revenue accurately, but Chargebee RevRec also ensures the team is audit-ready per the GAAP accounting standards to grow their business confidently and compliantly.
"With everything we’ve experienced with Chargebee since implementing it in 2016, I feel Chargebee is a powerhouse in the industry, especially with the addition of revenue recognition to the billing suite. We were able to work with an amazing team that made implementation a breeze," said Frederico Câmara, Senior Accounting Specialist at Codacy.
Since implementing Chargebee’s billing, Codacy has sent more transparent invoices and used Chargebee’s hosted checkout pages, which handle their PCI compliance and security.
With Chargebee RevRec’s automated revenue recognition process saving them hours of manual work, Frederico is able to shift his focus to more strategic initiatives for Codacy. As a result of streamlining the team’s accounting processes, Codacy saw some significant benefits from Chargebee RevRec, including:
The automation of about 90% of revenue recognition tasks, such as revenue allocation and amortization of sales commission
Up to 12 hours of work per month have been eliminated at the month-end close
Chargebee RevRec has been pivotal to our revenue recognition processes and is helping us stay compliant with the ASC 606 framework. Overall, it has been a huge value to our accounting team and it’s great to have control over the revenue reporting.
Frederico Câmara, Senior Accounting Specialist, Codacy