BillingPlatform, the enterprise monetisation platform for today’s innovative business models, and Conga, the global leader in revenue lifecycle management, today announced an integrated, bi-directional connector between the companies’ platforms providing enterprise customers with a complete quote-to-cash solution for complex revenue management.
As enterprises try to keep up with evolving customer demands and dynamic market conditions, their legacy approach to revenue management is inhibiting their growth potential due to disparate solutions, manual processes, multiple sets of data and revenue leakage throughout the quote-to-cash process. In addition, deals are becoming increasingly complex with new pricing strategies including discounting, bundles and more, leading sales and finance teams to look for a complete and automated solution that generates detailed quotes and invoices so they can close the books faster and accurately recognise revenue.
“Businesses are increasingly moving to mixed revenue models to drive both new revenue growth as well as maximise retention and expansion of existing customer engagements through subscriptions, usage-based pricing and other paths to new revenue,” said Stephen Hurrell, VP and Research Director of the Office of Revenue for Ventana Research. “The Conga and BillingPlatform partnership is an example of technology empowering revenue and finance teams with a complete revenue management solution to support cross-team efforts and knock down the legacy data silos impeding revenue growth.”
The BillingPlatform and Conga connector brings together best-of-breed solutions connecting critical points in the revenue lifecycle — the transition from a quote to billing and revenue management. The partnership enables that connection for a seamless flow of data allowing sales teams to use Conga’s CPQ solution to create quotes and automatically transfer that detail into BillingPlatform for finance to invoice and then recognise the revenue.
“The BillingPlatform integration is a showcase for what’s possible using the Conga Revenue Lifecycle Cloud,” said Grant Peterson, Chief Product Officer of Conga. “This direct integration enables our joint customers to create a unified process that seamlessly moves from quote and contract to order and through to cash collection — unifying revenue processes and reducing complexity to maximise cashflow.”
“Revenue leakage in the quote-to-cash process is a real issue for enterprises, so this partnership with Conga is focused on ensuring what a customer quotes is what they bill and expedites their ability to recognise revenue,” said Leo Solomon, co-founder and CTO of BillingPlatform. “This is also another example of adding value to our platform through pre-built connectors to key enterprise systems like Conga to synchronise data and create a seamless, efficient revenue management ecosystem for our customers.”
BillingPlatform has earned many accolades this past year, including being recognised as the Leader in Forrester Research’s “The Forrester Wave™: SaaS Recurring Billing Solutions, Q1 2023,” named to Constellation Research’s Smart Services Digital Monetisation ShortList™ for 2022, positioned as an Automated Revenue Management Market Leader by MGI Research and named a leader in the IDC MarketScape: Worldwide Enterprise-Focused Subscription and Usage Management Applications 2022 Vendor Assessment. The company was also recognised for a third year in a row as a fast-growing company on Deloitte’s Technology Fast 500™, honoured by Best in Biz Awards for its third consecutive year and listed on the 2022 Inc. 5000.