Why RecVue for Order to Cash?

I was reading an article about a guy who knew he was terrible at negotiating contracts. He sat down with the Chief Legal Officer at his company who started to walk him through an agreement and talking about the negotiation points.

When the Chief Legal Officer looked at the guy he could tell his head was spinning. The Chief Legal Officer sat back in his chair and said "OK, just imagine you're running a lemonade stand".

He then proceeded to teach the guy each point like he was in 3rd grade. The guy leaned in hard because it was the first time some made the subject easier to understand.

Being able to explain complex things in simple ways is what real intelligence looks like. Forget all the complicated jargon and just explain things in a way that anyone can easily understand.

With this story in mind, let me see if I can explain why companies that need Billing help select RecVue when it comes to handling the full Order to Revenue process. I'd like to focus on the "why", and I'll try to sail above the complexities.

10 reasons why larger Enterprises select RecVue for the core business processes of Billing and Revenue.

1. Scalability: Many companies need to be able to process a high volume of either records or revenue the moment they turn on the system. They need scale or at least a system that is scalable. RecVue does this and can handle hundreds of millions of records and billions of dollars on the Order to Cash journey.
2. One Customer Master record: When RecVue was built the company decided to hitch it's wagon to the ERP. There is a good reason for this - Your General Ledger (GL) is in the ERP and invoicing already takes place out of the ERP where your customer master record sits. Most software vendors in this space do what is called "Sub-ledgering". This means the software vendor is the one actually sending out invoices to your customers and holding the customer master record. If you go with a billing vendor that relies on sub-ledgering, you will have TWO customer master records, one in the ERP and a second in the software vendor's sub-ledger. Do you think that is a good idea?
3. CPQ/CRM software vendors are NOT purpose-built for Billing: Companies who core focus is CRM/CPQ have a "Sales process" focus and not a "Finance process" focus. Billing is a Finance process not a Sales process. If you put CRM/CPQ and Billing all up front you are setting yourself up for serious headaches later on, especially when it's time to do an audit with a big-four audit firm. Your most accurate data is always in the ERP and not in the CRM system. Think about it.
4. RecVue handles Mixed Billing: In the past few years there has been an almost "kool-aid" like push from some billing software vendors to convince you that every business and every industry is going (or should be going) 100% subscription. This might hold for smaller companies doing all SaaS and all digital products, but this is not how the larger enterprise world works, especially in industries such as manufacturing or medical. Big companies (say larger that $1 billion in revenue) more often than not have a need for "mixed billing". Some of their revenue is traditional one-time and perhaps some division of the company is selling products and services on a recurring revenue or subscription basis. RecVue is built to handle this. Most billing vendors can only handle one or the other but not both types of billing.
5. Partner Compensation Management: For companies that sell with Channel Partners and Dealers. To my knowledge, only RecVue can handle this using the same contract that is on the Revenue side. That is to say RecVue can handle both the AR and the AP off the same contract to both take in revenue for the customer and pay channel partners or dealers.
6. Revenue Management Compliance: In addition to billing and invoicing, RecVue handles the RevRec around company revenue including ASC606 and IFRS15.
7. Usage and Data Mediation: RecVue is great for companies that need to accurately monitor real-time customer usage and bill against it. With RecVue you can consume data from any source as well as reconcile and monitor real-time customer usage data from multiple inputs. This is particularly useful in the IIoT space.
8. Multi-Attribute Rating and Pricing: RecVue leverages Big data to provide endless flexibility with the confidence that comes from predictive insight. You can capture any data type (structured or unstructured) and dynamically rate millions of transactions if needed.
9. RecVue is multi-industry: RecVue support companies is almost any industry including Technology, Software, Media, Leasing, Franchising, Financial Services, and Business Services.
10. Integrations: RecVue is a Finance tool and it beautifully integrates with all the key systems big companies rely on from CRM to ERP.

If you'd like to know more around this, or think your company would like to be walked through a RecVue demo, feel free to contact me via DM on LinkedIn.