Spring 2020 Release Drives Greater Productivity and Control for Finance Teams

May 22, 2020
Posted on: May 22nd, 2020 by Leonid Solomonik No Comments

Spring 2020 Release

We are excited to announce the Spring 2020 release of the BillingPlatform solution. Offering users significant enhancements to the overall flexibility and control of the solution, this release was designed to allow businesses to more easily streamline their billing operations.

The capabilities available in this feature-rich release were designed to support our customers evolving business processes as well as address emerging market needs. For example, this release simplifies promotions and special offers, enables greater control of changes made to the billing environment, provides greater insights into critical platform processes, and much more.

Below, we offer an in-depth look into the latest features added to the BillingPlatform solution.

Offer Vouchers and Coupons with Ease

This new feature provides the ability to offer customers and prospects discounts through the use of promotional vouchers or coupons.

Vouchers or coupons can be used to provide discounts by either a lower fixed dollar amount, percentage off, or a formula calculated amount. And those amounts can be applied to a specific time period, product set, or customer-defined criteria. In addition, customers can decide the effective dates for using these vouchers: one-time use, set expiration date, or no expiration date.

The new voucher management capabilities help attract additional revenue, increase customer loyalty, increase the use of new services, and help to convert prospects to customers.

Easier Management of BillingPlatform Changes

This feature provides the ability to automate the promotion of changes between BillingPlatform environments, including changes from development or sandbox to production. This solves a critical compliance challenge for any size company, especially enterprises, by being able to track, promote, and audit changes to the system.

Not only will this new feature simplify operations, it will also reduce data entry errors caused by manual input, and save time in creating, testing, and deploying changes to a system.

Offer Advanced Credits

This feature allows customers to combine multiple line item credits onto a single credit memo or issue prior billings adjustments as negative charges on the invoice. In addition to crediting specific line items on an invoice, customers can also issue partial credits as well as credit taxes, all through an intuitive user interface.

All credit line items will be accessible from BillingPlatforms Revenue Recognition solution, which will allow for better revenue recognition entries. And finally, this new functionality will allow customers to create detailed credit memos and send them as PDFs to clients, all in a seamless, easy to automate, workflow.

These new features help speed credit processing, increase the agility of operations, and improve customer satisfaction.

Operational System Insights

This new feature provides insight into platform processes and system activities carried out by background processes. The feature will provide a real-time view of system statistics and progress on tasks such as:

  • Bill preparation
  • Invoice generation
  • General ledger computation entries
  • Information exchange with external systems
  • Bulk loader

This real-time view will provide vital statistics about all processes running, execution status, and pending work item counts as well as the peace of mind that all critical processes are up and running.

Taxation Automation via SureTax Connector

BillingPlatform has completed the integration to Wolters Kluwer SureTax, providing a connector to deliver comprehensive tax calculation.

The mapping between BillingPlatform transactions and SureTax codes are user-configurable, giving customers full control over taxation behavior of existing or new offers.

Salesforce BillingSync

Billing and invoicing data can be managed in and connected directly to Salesforce with our BillingSync connector. This out-of-the-box connector gives your sales team the most accurate and up to date information about their customers from lead to revenue.

Further enhancing the tool, we’ve implemented the following:

  • Enhanced sync history: now payloads of failed jobs will be stored automatically, so the user can download them for quick troubleshooting and testing
  • “Ignore Nulls” checkbox: this provides the possibility to treat null values differently depending on the field being synchronized
  • “Run Now” button: this lets you sync a change in a record by pressing a button so the job will run without affecting the rest of the scheduled processes
  • History of job mappings modification: old versions of the sync jobs will be stored to easily track changes, allowing users to experiment with new mappings knowing that they will always be able to revert to a previous version

Taxing on Consolidated Invoice Line Items

For customers using a tax service provider, we have added the capability to consolidate individual line items before sending them to the tax engine, thereby lowering the transaction volume run through the tax provider. The result: significant cost savings and less financial data to store in the system.

Below are a couple of examples on how to take advantage of this feature:

  • Consolidate invoice line items by their location and SKU codes
  • Consolidate usage per invoice but not apply to recurring charges

 
The end result for you: significant cost savings and less financial data to store in your system.

A Future-Proof Billing System

Our Spring 2020 release offers the most controlled and business-friendly version of BillingPlatform yet. With our solution, clients are more empowered than ever by having the tools needed to manage the system on their own, saving time and cost for the business, meeting customers’ needs.

BillingPlatform is the most agile, complete, and customizable billing application in the market. We are proud to have further differentiated our product by listening to our customers and anticipating how digital transformation will continue to impact enterprises going forward.

Author: Leonid Solomonik
Leonid Solomonik
With over 20 years in the software industry and extensive experience in high capacity billing information systems, Leonid Solominik is the driving force that makes BillingPlatform the most dynamic and flexible solution on the market today. Leo is one of the original founders of BillingPlatform and is committed to excellence in product development and complete customer satisfaction on a system that has a 99.999% up-time guarantee. He is an enthusiast for out-door sports,and is a world traveler with a passion for global unity and diverse cultures. He also is fluent in Russian and has a passion for everything mechanical.
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