Gotransverse
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Jan 23, 2020“We focus on where we know the market is going.” - Jim Messer, Founder & CEO, Gotransverse.
Whether you’re a B2B or B2C business, whether you’re selling media, utilities, SaaS business solutions, sock subscriptions, or anything else, there’s one thing all businesses have in common: you’re operating in a competitive market in which the rules and best-practices for monetization are mid-transformation. In order to stay ahead of the competition, you have to stay ahead of the curve.
In the above video, our founder and CEO, Jim Messer, touches on a few of the monetization trends he’s seen lately and the features and characteristics that make Gotransverse — both our team and our platform — stand out it the field of intelligent billing. We wanted to take a moment here to expand, digging deeper into some of the ideas he introduces in the video.
The Future of Monetization Is About More than Simple Subscriptions
Once upon a time, commerce was all about one-time sales: a customer purchases an item or a perpetual software license, and that’s the extent of the relationship with the seller. Then, eventually, we began the shift to simple subscription models, where customers pay a regular fee for access to items or software solutions. We started to see this model crop up in everything from B2B software licensing to B2C media streaming and clothing rentals.
And there will always be a place for both models, but more and more we’re seeing them merge with one-time purchases and usage-based offerings layered on top of simple subscriptions. In other words, a customer might pay a basic fee for platform use, and then add on additional features, functionalities, products, or services as needed.
These usage- or consumption-based models can take on many forms, from tiers and tapers to allowances to time-based rates to combinations of all of these and more. (Learn more about various usage-based models here.) Agile businesses often employ multiple usage-based billing models to satisfy customers and stay ahead of the competition, and this future-focused strategy requires a future-focused billing platform.
Monetization Becomes More Complicated with Growth
When a business is just starting, it’s likely small and fairly simple, with few customers and streamlined billing models. In this phase, a simple billing platform — even a DIY system — is likely plenty. But as the business grows, so do its billing needs. Keeping thousands, tens of thousands or even millions of customers’ data secure, processing accurate and timely invoices on dozens of billing models and multiple currencies, managing a growing away of products, services, and bundles, and maintaining transparency through every step of the process all become more and more critical — and more and more difficult — with growth. That simple system that powered the business in the early days is no longer enough, and your growing business needs a more sophisticated platform that’s designed to handle complex environments and needs.
As Messer notes, the Gotransverse platform was built by some of the world’s foremost monetization experts. Our team cut our teeth building custom billing platforms in complex environments, and we’ve translated that experience into a native cloud platform to service our global customer base. That means our customers get the sophistication, flexibility, and precision of fully customized billing platforms with the convenience, ease, expert support, and lower price point of an off-the-shelf product that can be configured to meet their exact needs.
Successful Monetization Requires Front- and Back-Office Harmony
Messer notes that Gotransverse is the only billing company that has partnered with both front- and back-office leaders (such as Salesforce and Workday) and leading consulting partners (like Accenture) to create a powerful native digital alliance.
He expands on this idea in a recent article for Forbes, but the key is that, for a complex monetization strategy to be effective today, the billing platform has to integrate seamlessly with the other front- and back-office solutions a business has in play. In short, your monetization platform has to be made of tech that plays well with others.
That’s why we pride ourselves on our platform’s capability to plug into existing systems through a robust collection of integrations, APIs, microservices, and connectors that ensure your front office and back office are working seamlessly together, leading to heightened accuracy, faster processes, and happier customers. Our strong technology partnerships are a powerful advantage for our customers.
In Monetization, the One Constant Is Change
And finally, we all know that today’s monetization landscape is just the starting point. As customer needs continue to evolve, it will remain every business’ responsibility to innovate in order to stay ahead. Next on the horizon, as Messer sees it: adding artificial intelligence and machine learning to our robust data capabilities in order to give customers better business insights and drive more revenue through data-driven decision making.
If your organization is ready to propel its billing systems into the future in order to drive growth and maintain a competitive edge, we invite you to learn more about the Gotransverse platform and all the ways it’s helping clients stay on the cutting edge of monetization trends. Take a tour of the Gotransverse platform today, and call us to schedule your complimentary, personalized demo.