As TRES expanded, their intricate billing process became increasingly challenging to handle. Using Received for B2B billing automation and data consolidation, TRES effectively prevented revenue leakage, maintained healthy cash flow, and enhanced scalability to accommodate growth.
Software
B2B
TRES sets its B2B pricing structure on annual subscriptions, including various usage-based factors like transaction volume, number of wallets, entities, users, and other variables, tailoring each plan to the customer's specific needs. In addition, TRES tracks monthly usage to determine whether customers have surpassed their plan's allocated limits, potentially incurring additional charges for overages.
TRES simplifies your Web3 financial operations, making accounting, audit and reporting the easiest part of your financial workflow. TRES' enterprise-grade platform enables you to get the full and accurate picture across all of your Web3 financial activity.
“One of my favorite things about Received is its Excel-based pricing configurator. It speaks in the language of finance professionals, which allows me to easily create complex edge-case pricing structures using the format I know and am comfortable with."
VP Finance and Operations
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Handling billing manually for over 100 customers demanded significant time and attention from the finance team on a daily basis, leaving little room for other tasks. TRES found themselves juggling five separate Excel files to meticulously track various metrics of the billing cycle, including customer pricing structures, billing logic, usage data, collections status, and revenue recognition schedules. As the company expanded, this intricate operational process became increasingly burdensome, posing challenges to scalability and efficiency.
TRES faced challenges with their manual billing process, which at times led to billing inconsistencies and payment delays. Addressing these challenges was crucial to optimizing their cash flow and ensuring timely revenue generation.
TRES had limited visibility into usage data, which made it challenging to gain insights into customer behavior and detect trends. This limited visibility also impacted their capacity to provide detailed usage logs to customers, restricting customer visibility.
Through Received's integrated 'Excel-based' pricing configurator, TRES' finance team can easily craft intricate pricing models and automate billing for bespoke enterprise contracts within minutes. This transition enables them to set aside cumbersome spreadsheets, streamlining billing and revenue operations through a single unified platform. As a result, TRES has significantly reduced billing time, achieved full data consistency and increased scalability to accommodate growth.
Received's automated invoicing and payment collection eliminates manual invoice calculations and tracking of billing schedules, preventing human error and ensuring timely and accurate invoicing for every billing cycle. With this in place, TRES proactively avoids invoice oversights, sustaining a healthy cash flow and consistently achieving revenue targets.
Using Received's usage tracking functionality, a detailed usage report is automatically attached to each invoice. This empowers customers with complete insight into usage rates and pricing calculations, enhancing their trust in their payment obligations. As a result, TRES accelerated payment cycles and increased overall customer satisfaction levels.