With usage-based pricing and bespoke contracts, Actuate's manual billing process was becoming increasingly labor-intensive as they grew. By implementing Received's end-to-end billing automation and advanced data analytics, Actuate has improved its analysis and forecasting capabilities, gained auditability for full confidence in its data, and enhanced scalability to support rapid growth.
Software
B2B
Actuate employs a multilayered usage-based pricing model, which considers various factors including software consumption rates, Cloud computation resources, the quantity of cameras, analytics type, camera usage duration, and additional elements. Adding to the complexity are custom contract terms tailored to each customer, resulting in bespoke contracts for every customer.
Utilizing computer vision software and artificial intelligence, Actuate's intelligent security camera enhances security response time and enhances safety outcomes in critical situations.
"Received immediately understood what our needs were and delivered on everything they said their solution could do. Combined with a great price point, working with them was an easy decision".
Director of Operations
Actuate's intricate billing process was managed manually by a dedicated full-time employee. Each month, this employee had to download all consumption rates, and align them with each customer's contract terms and pricing metrics to manually compute the billing amount. In a competitive talent landscape, having qualified employees solely engaged in highly manual tasks poses two significant challenges: firstly, it restricts their capacity to contribute value-added services to the organization, and secondly, it diminishes their job satisfaction, ultimately leading to attrition. Actuate aimed to transition from a fully manual process to a more quality assurance-oriented approach, enabling them to concentrate on more value-add initiatives to help the company scale.
Actuate's manual billing process demanded 15 hours of manual work spread over a week each month. With ongoing expansion, the process becomes increasingly time-consuming and difficult to handle. The Actuate team acknowledged the pressing need to implement a solution facilitating scalability, enabling them to expand their customer base without having to hire additional personnel for billing purposes.
Actuate's billing data was dispersed across various sources and computed manually, increasing the risk of human error and lacking a unified repository for billing and revenue data, making it difficult to track performance in real-time. Actuate looked to streamline its billing data integration into a centralized warehouse to gain data analysis capabilities and enhance its visibility and business intelligence.
Using Received to automate its complex billing process, Actuate's finance team has reduced billing time by 70%. As the company expands, this reduction will become increasingly significant. These newfound resources enable the team to concentrate on strategic endeavors that fuel company growth, fostering scalability without capacity constraints.
Utilizing Received's unified data dashboard alongside advanced B2B reports and analytics empowers Actuate’s team to delve into their financial performance, covering aspects like product segmentation, pricing analysis, financial forecasting, and beyond. This enables them to optimize financial strategies to boost revenue and make data-driven strategic decisions effectively.
Using Received for data tracking and consolidation, Actuate has achieved enhanced auditability, benefiting investors and internal stakeholders alike. The ability to refer back retroactively for audits increases confidence in invoice calculations, facilitates swift responses to customer inquiries and instills peace of mind, ensuring clarity and accuracy in financial data.