One of our customers, Nashville-based SaaS company, Edgenet, that provides retailers, distributors, websites and suppliers with the ability to manage and improve their product content, looked toward innovating on its billing touchpoints with the goal of creating a stellar customer experience.
In our blog post earlier this week, we talked about the importance of engaging and empowering customers through the customer billing experience, citing 59 percent of companies experience significant customer friction as a result of billing issues. For companies looking to build strong customer relationships, airtight billing touchpoints and processes are a critical investment that can help engage and empower customers in several ways.
On our recent webinar, Cloud-Based Billing: The Digital Transformation of Customer Experience, Edgenet CFO, Adam Ragauskis, shared some of the challenges they experienced with the explosive growth of ecommerce, seeing a 5x increase in just over a year. And with that, they recognized that their sophisticated homegrown billing system couldn’t scale with its manual processes. This vital customer experience, the billing touchpoints, was error-prone, lead to revenue leakage and the high volume of data became difficult to manage. Customers were also having a difficult time understanding what they were being invoiced for and why, straining the ability to maintain good relationships. In addition, Edgenet was missing a direct connection between its front and back end accounting and sales systems, causing a lack of visibility into the business and silos between departments. The decision to invest in its billing touchpoints grew from Edgenet’s focus on invoices as an important customer experience.
Better Billing Touchpoints with an Intelligent Billing Platform
After an internal and external evaluation, Edgenet selected goTransverse as its billing platform. “goTransverse’s ability to plug into Edgenet’s CRM, provide the reliability and flexibility to scale products and go to market quickly were big drivers in our decision,” said Adam Ragauskis, CFO of Edgenet. “We had a need for sophistication in how we were operating the business and how we wanted to operate moving forward.”
The goTransverse platform gives Edgenet the ability to process and measure usage, allows for higher visibility into sales and accounting platforms and provides cleaner interactions between teams, allowing them to make sure their bookings and billing numbers match. Edgenet is also now able to maximize its revenue recognition policy through real time usage-based billing and daily invoices. Due to its unique cloud infrastructure, goTransverse is able to seamlessly integrate with Edgenet’s front and back office systems, providing automation, visibility and the ability to create creative pricing models daily.
Upgraded Customer Experience and Internal Collaboration
After the implementation, Edgenet has been able to offer new and upgraded solutions, and flexible pricing options to their customers. The real-time system integration and automated access points ensures customers are billed accurately and timely. Ragauskis added “When customers call for support, our product is now synced with our billing, and our billing is synced with our CRM, allowing all of our interactions to be centralized. Customers can expect a fully integrated service experience. By addressing the flexibility and scalability needs that we had, we are naturally able to provide this focus for the customer.”
To check out the full webinar, watch it on demand here.