Vindicia has upgraded its offering with even better invoicing and hierarchical billing to support digital merchants in the enterprise software, Software as a Service (SaaS) and B2B markets.
Vindicia's SaaS CashBox billing solution already optimises customer retention and acquisition generating US$50 million in annual incremental revenue for its customers. Its success to date has been with digital merchants using CashBox to optimise "pre-pay" models, where customers pay in advance of using a service. Today's new capabilities extend the benefits of the CashBox solution to "post-pay" models, where customers typically pay for a service after they have used it.
CashBox supports merchants of all sizes, from those generating hundreds of invoices per month, to those handling tens of thousands of credit card transactions per day. Digital merchants can optimise the delivery of their content and services, collect payment and account information in a PCI-compliant fashion, enable customer self-service, and expedite customer care.
Analyst and founder of Diversity Limited, Ben Kepes, says, "Organisations of all kinds are recognising the advantages of outsourcing to an SaaS model including near-instant provisioning, quick and easy integration, the ability to push upgrades to an entire customer base and inherent customisation capabilities
"The features and functionality in the new version of CashBox bring these advantages to digital merchants using billing configurations typical in the SaaS model."
Vindicia's CEO and chairman Gene Hoffman, says, "CashBox has helped dozens of digital merchants increase customer lifetime value, recover lost revenue and improve their customer relationship management. This new version enables us to expand the reach of CashBox in the subscription-based SaaS and enterprise software markets, offering customer retention benefits to a company's existing marketing and billing processes.
"As a result, digital merchants achieve the same top and bottom line benefits from leveraging billing as a strategic marketing asset, rather than viewing it simply as an operational and administrative function."
The new version of CashBox enables merchants to present an aggregated, itemised invoice to customers and enable its payment. This includes the ability to bill customers for multiple services simultaneously, and to collect for those services in a single payment. CashBox offers the flexibility to manage all service attributes (e.g. prices, effective dates and entitlements) individually, or in groups or bundles.
It also enables pro-rated billing for billing or crediting partial charges to customers who join mid-billing cycle or request a refund for an unused portion of services during a billing cycle. CashBox also supports the concept of hierarchical billing across multiple groups within an organisation or even in a literal "parent-child" form in the game publishing realm.