Last week the Gotransverse team had the opportunity to attend MGI Research’s Monetization Summit West on April 19, 2017 in San Francisco, CA. Joined by other leaders and innovators in the modern cloud billing platform space, attendees spent the day discussing and addressing the challenges of subscription businesses, “as a service” business models, rethinking CPQ, billing and revenue accounting, and hearing from companies who are actively addressing these challenges today. Two key themes I felt throughout the conference were transformation and innovation.

1. Billing Transformation Challenges by the Numbers

The theme of “transformation” was heard throughout the day. The industry feels the need to automate, the need to be repeatable and reversible, the need to predict the monetization process…but are impeded by transformation barriers. MGI Research shared the behind-the-scenes research around some of these challenges:

  • 44% of companies see their legacy billing system as a barrier to growth
  • 42% of companies experience revenue leakage
  • 32% of companies experience time-to-market challenges
  • 68% of companies plan to introduce new pricing in the next 12-24 months with usage, tiers or complex combinations.
  • 56% of companies desire to launch new products and pricing in less than 4 weeks or, but only 29% of companies have that capability today.

2. Innovation in Billing

Gotransverse CTO Paul Tindall led a panel on innovation in the billing landscape. Joined by the CTO of Billing Platform, Leo Solomon, the two discussed how much innovation is really needed in the space.

When asked his thoughts, Tindall dove into the topic of scalability. How does an organization economically scale its billing application to handle lower volumes today, knowing it wants to support higher volumes down the road? “The elasticity of performance and scalability is really critical to this industry as the workloads are so variable” said Tindall. Listen to more here:

Thank you to the MGI Research team for hosting the event and providing a great platform for organizations to discuss adopting new monetization models, the challenges faced today and bringing together vendors and thought leaders working to create solutions.

To learn more about Gotransverse’s intelligent billing platform, sign up for a free 30 minute consultation with one of our billing experts.