Leader in billing and revenue lifecycle management recognized with positive outlook rating based on criteria in five core categories
DENVER – June 29, 2023 – BillingPlatform, the enterprise revenue lifecycle management platform for today’s innovative business models, today announced that MGI Research, an independent industry research and advisory firm, rated BillingPlatform with the highest overall rating (64) of any vendor in its 2023 MGI 360™ Ratings report for Agile Billing.
MGI Research is an independent industry research and advisory firm focused on disruptive trends in the technology industry. The firm’s MGI 360™ Ratings are a comprehensive system for evaluating technology companies that enterprises use to track suppliers, assess purchasing risks and identify promising new vendors that can help lower costs, save time, reduce risks and identify new opportunities. MGI Research specializes in analyzing modern enterprise software markets with a focus on technologies for agile monetization including billing, contract lifecycle management, CPQ, digital payments and finance automation among others.
BillingPlatform was awarded the highest overall rating out of 35 vendors rated by MGI Research in its June 2023 Agile Billing Buyer’s Guide and given a Positive analyst outlook based on criteria in five key categories, including strategy, management, product, finance and channels. BillingPlatform is the only revenue lifecycle management platform that enables enterprises to monetize all types of product offerings – from subscriptions to usage-based pricing models and everything in between. BillingPlatform manages product setup, quoting, billing and invoicing, revenue recognition and payments and collections, making it the most flexible solution on the market, putting enterprises in control of how they differentiate, maximize profitability, reduce operational costs and improve the customer experience.
“BillingPlatform has gone through a period of intense maturation as its multi-year investments in product, marketing and partner management are translating into strong reviews by enterprise customers with highly demanding use cases requiring scalability, agility and sophistication,” said Igor Stenmark, Managing Director and co-founder of MGI Research. “The MGI Ratings report evaluated BillingPlatform on nearly 150 different criteria across five major rating categories against a very strong and competitive peer group of monetization suppliers.”
“When it came to modernizing our billing processes, we prioritized a solution with the ability to improve operational efficiency and offer customers flexible invoicing models,” said Rod Christo, SVP Finance & Chief Accounting Officer at CCC Intelligent Solutions Inc. “With BillingPlatform’s functionality, we’ve reduced the time it takes to close our books and can now provide enhanced end-user support.”
MGI Research stressed BillingPlatform’s strong value proposition by stating, “with a comprehensive, billing-centric monetization capability, BillingPlatform can address subscriptions to complex usage billing scenarios in real-time and quick-time contexts.” The report also noted the company’s growth through “increasing the breadth and depth of the product line-up, beefing up of the sales and marketing execution, stronger partnership ecosystem and more proof points of high-end enterprise implementations with large volumes and a lot of complexity.” MGI Research recommends BillingPlatform to mid-to-large sized companies with digital or hybrid business models that are seeking to integrate modern pricing models into their tech stack.
“This last year was rooted in strong customer success stories with major names such as CCC Intelligent Solutions Inc., InComm Payments and Vantage Towers, as we continued to expand our platform offerings to better meet the needs of enterprises,” said Dennis Wall, BillingPlatform CEO. “Being recognized by MGI Research for our continuous growth and dedication to enhancing our solutions to improve the customer experience validates our strategy and R&D investments focused on being the revenue lifecycle management leader for enterprises worldwide.”
BillingPlatform has earned many accolades this past year in addition to being included in the MGI 360™ Ratings report including being recognized as the Leader in Forrester Research’s “The Forrester Wave™: SaaS Recurring Billing Solutions, Q1 2023,” ranked as the Overall Leader and an “Exemplary Vendor” in Ventana Research’s 2023 Subscription Management Value Index report, named to Constellation Research’s Smart Services Digital Monetization 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 recognized for a third year in a row as a fast-growing company on Deloitte’s Technology Fast 500™, recognized by SIIA as Best Subscription Billing Solution in the 2023 CODiE Awards, honored by Best in Biz Awards for its third consecutive year and listed on the 2022 Inc. 5000.
Click here to access a summary of MGI 360™ Ratings report for Agile Billing.