Industry
Manufacturing
Forecast your billing and revenue recognition with RecVue reporting.
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Whether your organization is involved in large-scale production of goods for make-to-stock, make-to-order or make-to-assemble, your manufacturing processes and strategy must-have include agility, flexibility and performance against high volume.
From flat monthly to usage-based billing to complex variable billing, RecVue provides timely, accurate billing, partner compensation and revenue recognition.
Challenges
Nonstandard leases with tricky renewals and extensions
High transaction volumes
Billing errors leading to customer dissatisfaction
Revenue leakage
Calculating the amount of revenue billed and recognized
Variable usage components
Rigid contracts with tiered pricing
Manual data entry and error-prone Excel sheets
Nonstandard leases with tricky renewals and extensions
High transaction volumes
Billing errors leading to customer dissatisfaction
Revenue leakage
Calculating the amount of revenue billed and recognized
Variable usage components
Rigid contracts with tiered pricing
Manual data entry and error-prone Excel sheets
Nonstandard leases with tricky renewals and extensions
RecVue Resolution/Response:
RecVue’s platform provides for tracking of each lease for detailed billing for every item leased. Much in the same way the solution accommodates asset billing, RecVue’s lease billing capabilities take into consideration the granularity of the billing data, down to the equipment/serial number level. The module is industry agnostic to handle any billing needs for assets and equipment rentals.
Why Its Important:
Successful businesses in this industry must be able to accommodate all manner of lease options, regardless of the level of complications involved. Among the pitfalls of not being able to accommodate this complexity are lost opportunities for revenue income and future growth.
Resources:
High transaction volumes
RecVue Resolution/Response:
RecVue was designed as a group of microservices for the specific purpose of being able to handle high volume with high performance. The data mediation layer is situated on top of the application for better control through configurability.
Why Its Important:
Financial transactions are typically not singular activities, but rather a step in the lifecycle of business flow, leading to a multitude of additional transactions. Such transaction multipliers drive up the volume of today’s financial transactions so scalability requirements must always consider all transactions to come out of each individual transaction. Creating an invoice or sales order , or any other transaction, can result in a few lines or a thousand lines. Today’s successful enterprises must be able to handle the potential for millions of financial transactions every day.
Resources:
7 Important Factors to Consider When Choosing a Usage Billing System
Billing errors leading to customer dissatisfaction
RecVue Resolution/Response:
RecVue was designed to deliver a bottom line based on accurate reading of a company’s most essential data sets, including trusted billing details, accurately reported revenue and trusted partner compensation details. The platform features a configurable interface to GL for accounting entry accuracy.
Why Its Important:
A billing experience which establishes trust and confidence is critical amid an environment of seemingly endless customer options and expectations. This solid partnership will ultimately help businesses get paid faster, reduce the risk of bad debt and adapt quickly to any changes in customer expectations.
Resources:
Revenue leakage
RecVue Resolution/Response:
RecVue solution built to anticipate the constant change in recurring revenue business so companies can keep pace with today’s complexity, reduce a reliance on manual processing and limit pricing errors – main causes of revenue leakage
Why Its Important:
What is worse than losing money? Never knowing you had money coming to you in the first place. Ensure your business recognizes all entitled avenues of revenue by plugging actual or potential leakage points through your network and customer-facing systems.
Resources:
Calculating the amount of revenue billed and recognized
RecVue Resolution/Response:
This sophisticated billing engine is built to adapt on the fly for every revenue model on the market. One of the true solution differentiators is the ability to seamlessly integrate and automate billing, data mediation, revenue and partner compensation processes all under one unified platform, for a complete 360-degree view of your critical processes. The solution features a configurable interface to GL for accounting entry accuracy, as well.
Why Its Important:
Properly measuring your company’s revenue, or sales, delivers more actionable information about your business than mere profit alone can provide. Through a true understanding of your revenue, you can leverage the most benefit out of the information being collected.
Resources:
Variable usage components
RecVue Resolution/Response:
Guided by an enterprise-grade billing engine and integrated variable considerations, the RecVue platform delivers integrated billing, revenue and partner compensation capabilities in an all-in-one platform. The solution can ingest data in any form necessary, depending on the billing flavor, including usage billing, asset billing and payments and hybrid options. RecVue’s data mediation layer offers user friendly import, control and consumption flexibility.
Why Its Important:
Usage-based billing has become increasingly important not just for saving, time, costs and adding flexibility to your business pricing, but also for the potential as an effective business growth tool. Not only that, but customers love having all the variable options within this billing evolution for the fair, transparent pricing more aligned to the value they receive.
Resources:
Driving Digital Transformation in Finance to Increase Revenue
Rigid contracts with tiered pricing
RecVue Resolution/Response:
RecVue’s robust billing capabilities include tiered support through multi-dimentional pricing, customer-specific, rule-based pricing for all complex pricing models and the adaptability to respond to any business-specific contractual needs.
Why Its Important:
By being able to adapt to any type of contract need including the segmentation of product and service pricing in order to meet any market segment, opens your business appeal to a wider and more varied customer base, as you provide for diffeent demand rates and price points.
Resources:
Manual data entry and error-prone Excel sheets
RecVue Resolution/Response:
The RecVue platform is built specifically to eliminate unnecessary manual data entry, automate manual workaround and eliminate reliance on spreadsheets by integrating with existing systems to aggregate data and manage your company’s transactional data processing.
Why Its Important:
The role of accounting has transitioned from ‘bean counters’ and budget planners to future-oriented, strategic partners. Outdated tools such as spreadsheets, formerly the backbone of finance and accounting, and the manual processes they promote, must evolve and give way to better tools for the finance team evolution to maintain its pace.
Resources:
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RecVue Advantages
RecVue offers the industry’s first suite of Order-to-Cash solutions that are purpose-built to fully automate the complex processes for billing & invoicing, revenue recognition and partner compensation in a single solution.
Product and Pricing Catalog
Automate unique and complex order-to-cash requirements for billing, partner compensation, and revenue recognition
Contracts and Order Management
Eliminate the paper, PDFs and manual processing and get complete visibility and control.
Usage and Data Mediation
Capture usage data from any source and translate it into standard billing to reduce leakage.
Multi-Attribute Rating and Pricing
Model pricing or rating structures to determine the billable amount. Then optimize revenue based on real-time analysis of your pricing strategies.
Billing and Invoicing
Scale from one-time charges to basic subscriptions to complex usage models with pre-validated bill runs and tailored invoices.
Revenue Recognition and Compliance
RecVue supports the ASC606/IFRS15 and ASC842 frameworks to keep your business GAAP-compliant.
Improve Productivity
Enable your finance team to accelerate period closes, reduce DSO/DRO, and work more efficiently increase your revenue.
Insights
Forecast your billing and revenue recognition with RecVue reporting, giving you a 360-degree view into your business.
Partner Management
Automate payment remittance to partners and other third-party vendors easily and accurately.
Asset Monetization As-A-Service
A single platform embedded with Asset Billing, Asset Payment, and Revenue
Learn MoreRevenue and Compliance Should Not be Complicated.
See how RecVue gives you complete control of your recurring revenue contracts.