New Additions to Industry-Leading Subscription Management Platform Include Revenue Recognition, Optimization and Visibility, Customer Acquisition Tools, Enhanced Usability and New Security Features
SAN FRANCISCO, CA -- May 21, 2019
Chargebee, an emerging leader in SaaS subscription management and recurring billing solutions with more than 1,700 global customers, today announced its summer 2019 release focusing on agility, revenue operations optimization, usability and security across the Chargebee Subscription Management Platform. The release further powers the needs of high-growth subscription-based businesses with a higher level of automation and business intelligence.
Other new features include the introduction of Subscription Time Machine, an industry first that allows businesses to easily test and simulate new and complex configurations, billing rules and scheduled subscription lifecycle workflows to optimize sales and streamline the customer experience. Other new additions include enhanced customer acquisition tools, new pricing models, account hierarchy, enhanced Salesforce integration, new integrations with Netsuite and Intacct ERP, upgraded usability with a redesigned user interface (UI) and upgraded security, including single sign-on (SSO) and multi-factor authentication (MFA) functionality.
Subscription-based businesses need a platform that can handle real-time changes based on customer demands throughout the subscription lifecycle. Revenue recognition is an example of one complex process for subscription companies, where usage, billing and revenue by default occur on different schedules. Improperly managed accounting rules can become a risk to the business, and the new revenue recognition rule ASC 606 has made it even more challenging. Chargebee's new platform enhancements address these needs by automating revenue management and revenue allocation in compliance with ASC 606 regulations, allowing businesses to choose from various templates and recognition methods that suit their business.
"Managing subscription-based business is complex, as customer demands are dynamic and businesses need agility to respond to these requests in real-time," said Omar Nawaz, chief product officer (CPO) at Chargebee. "Chargebee is focused on applying automation to optimize revenue operations from order-to-revenue, helping businesses maximize their revenue, at scale."
The advancements to the Chargebee subscription billing platform provide organizations with a new level of control to further improve the overall experience for their end users. The additions make the platform an even more complete and robust end-to-end solution that allows for quick and intelligent business decisions in real time and the ability to optimize the user experience across the entire customer lifecycle, from order to revenue. New features include: