Subscriptions have given way to complex relationship pricing, often resulting in a unique price per customer that changes every month. Big companies have built custom software to meet this need. We built Elastic Billing so anyone could do it.
SAN ANTONIO (PRWEB) February 01, 2018
Chargify announces the release of Elastic Billing, the next generation of Chargify’s recurring billing and subscription management solution. Elastic Billing provides the speed and flexibility for modern businesses to deliver personalized offers at scale, over the course of a customer relationship.
Historically, businesses have been constrained by inflexible, resource-intensive billing systems that force a one-size-fits-all approach to offers—delivering a small number of plans to all customers via a single, simple monetization model. Businesses wanting to break free from this approach face a number of billing bottlenecks that limit their ability to quickly test and monetize pricing strategies through subscription, usage-based, one-time, and hybrid models.
This reality coincides with a fundamental shift in customer expectations away from static subscriptions to a focus on relationships, not subscriptions, through personalized offers. Serving customers has become more complex, and the underlying recurring billing system needs to provide more agility for product and marketing teams to respond to changes in packaging, pricing, and promotions.
Today’s release includes new offer management and pricing tools, relationship invoicing capabilities, and granular offer level reporting. In addition, a revamped user interface improves the discoverability and usability for all internal teams, from the back office to the front office:
Offer Management, so you can acquire and retain more customers through personalized offers:
- Price Points to create and manage personalized pricing for individual customers and different customer segments without the management burden
- Stacked Promotions to tailor sophisticated promotions to drive acquisition and customer retention
- Granular tax controls to define tax requirements by product type and/or geography
Relationship Invoicing, so customers don’t question when and how they are billed:
- Easy-to-understand invoicing with fully customizable invoice delivery
- Consolidation for multiple products and subscriptions into a single invoice for payment
- Metadata extracts for ASC 606/IFRS 15 compliant revenue recognition
Analytics and Insights, so you never have to guess what is fueling growth:
- Customer Movements to track monthly and usage revenue across all revenue categories—growth, churn, expansion, and contraction
- Offer Movements to understand how individual offers impact growth and how revenue flows between offers through upgrades and downgrades
“Subscriptions have given way to complex relationship pricing, often resulting in a unique price per customer that changes every month. Big companies have built custom software to meet this need. We built Elastic Billing so anyone could do it. Billing has been a bottleneck for revenue teams for too long,” said Chris Cochran, Chargify CEO.
Success in the relationship economy requires an elastic approach that emphasizes personalized offers, agility with no custom development, and the ability to manage constant customer change.
"Grandfathered pricing, new price rollouts, different add-ons available for each plan, unique discount codes…the list goes on. Being able to offer customizable plans to our customers is important, but it means a lot of complex scenarios to handle on the back end. Chargify makes it all easy and manageable, without us having to devote substantial developer resources to keep it all running smoothly," said Jeff Matson, Chargify customer and Community Evangelist at Gravity Forms.
To learn more, visit https://www.chargify.com or call 1-800-401-2414.
Chargify is a globally-recognized leader in the Recurring Billing and Subscription Management space. Chargify Elastic Billing turns billing into a competitive edge for modern recurring revenue-based businesses that need to personalize and differentiate their offerings for the relationship economy. Elastic Billing is transforming the way that businesses package, price, and promote offers and manage change over time.
Founded in 2009 and headquartered in San Antonio, TX, Chargify has helped thousands of businesses manage millions of offers that drive billions in annual revenue. Chargify removes billing bottlenecks and gives front, corner, and back office teams the speed and flexibility to grow faster.