Drive More Revenue
If your business is ready to embrace digital technology and innovate new products and services, then you must also be ready to explore creative business models that optimize and drive new revenue. Only leaders with obsessive attention to detail around the customer experience will have the relevant data needed to execute. To succeed in the burgeoning Consumption Economy™, businesses must drive cross-sells, up-sells, renewals and net-new revenue as well as maximize customer lifetime value (CLTV) through the intelligent use of usage data.
Forward thinking companies do not let existing infrastructure get in the way of monetizing new offerings and maximizing revenue. They understand that the ability to rate, bill and recognize revenue on anything a business can measure – at scale and accurately – is today’s new competitive advantage.
This is the TRACT® advantage from goTransverse.
TRACT® is the leader in global Consumption-to-Cash™ platforms. Consumption-to-Cash™ covers the entire lifecycle for products and services that are priced on a consumption-based or usage-based model. The ability to analyze, at the most granular detail, your customer’s consumption patterns allows you to identify new opportunities to drive incremental revenue to your bottom line.
Today’s leading enterprises combine one-time, recurring and consumption-based business models to drive revenue growth. While many other companies claim usage-based billing, no other company includes within their platform a powerful, real-time rating engine. TRACT received the highest possible score for its Usage Metering and Rating capabilities in The Forrester Wave™: Subscription Billing Platforms, Q4 2015.
Subscription billing is evolving from putting a charge on an invoice at a defined frequency to including any combination of one-time, recurring and consumption-based charges. TRACT was rated a Strong Performer and named as one of The Eight Subscription Billing Solution Providers that Matter Most in The Forrester Wave™: Subscription Billing Platforms, Q4 2015.
The promise of data monetization can be fulfilled, but you need the ability to apply your specific business rules to turn raw usage data into bill-ready events immediately and at scale. The Data Mediation Engine in TRACT can process billions of usage events, anything you can measure, and prepare the data for rating, allowing you to maximize your revenue opportunity.
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Real-time rating equates to faster time to revenue with consumption-based and multi-dimensional pricing models. Rather than wait until month-end to apply price changes, notify customers of renewals or trigger overage notifications as they occur. TRACT makes these adjustments in real-time, making sure every revenue opportunity is captured automatically. TRACT received the highest possible score among global billing providers for its Usage and Rating capabilities in The Forrester Wave™: Subscription Billing Platforms, Q4 2015.
Perpetual masters of maximizing revenue in industries such as hospitality, travel, entertainment and retail rely heavily on dynamic pricing strategies based on supply and demand. Similarly, leading edge B2B companies that are experimenting with subscription and usage-based models are realizing gains from flexible pricing scenarios ranging from simple recurring fees to consumption-based tiers, tapers, pooling, thresholds and more. The TRACT platform applies any pricing model in real-time as customers consume your products and services.
Invoicing & Receivables
Accurate and timely invoicing is crucial to keeping receivable balances low. TRACT eliminates confusion created by inaccurate or delayed billing. With TRACT, the powerful Data Mediation Engine transforms even the most complicated usage and consumption data into billable events. Your customers can have a clear itemization of all their charges in one complete invoice.
TRACT incorporates several payment processing options including automatic and manual, recurring and one-time payments. TRACT is PCI DSS Level 1 compliant and ensures full security and encryption of end-customer’s financial data. TRACT received the highest possible score for its PCI Compliance and Tokenization capabilities in The Forrester Wave™: Subscription Billing Platforms, Q4 2015.