BillingPlatform named Leader in Gartner Magic Quadrant 2024
BillingPlatform has been recognised as a Leader in the 2024 Gartner Magic Quadrant for Recurring Billing Applications. This marks the company's first inclusion in the Magic Quadrant, where it was positioned as the highest in Ability to Execute. Additionally, BillingPlatform received top scores in four out of five use cases in the Gartner Critical Capabilities report.
The Gartner Critical Capabilities report assessed 17 recurring billing applications across various criteria. BillingPlatform achieved the highest evaluations in categories such as Complex Usage Billing, Mixed Billing, Enterprise Grade Billing, and B2C Subscription Billing.
Rod Christo, Chief Accounting Officer at CCC Intelligent Solutions, commented on the impact of BillingPlatform's solutions: "As we have grown, both organically and inorganically, our monetization strategies have grown increasingly complex with a mix of one-time charges, recurring charges, and usage-based charges combined with tiered and promotion pricing to the point our various billing solutions were constraining our growth. BillingPlatform has enabled us to migrate all of our lines of business to their secure, scalable revenue management platform that enables us to manage the business more efficiently, have greater agility, and provide greater insights into our business."
BillingPlatform has reported a three-year revenue growth rate of 332% and boasts global clients across several industries. Notable customers include J.P. Morgan, InComm, CooperSurgical, DIRECTV, GoCardless, and Vantage Towers. The company claims its platform supports a wide array of monetisation models, from simple subscriptions to complex usage-based pricing, providing comprehensive revenue lifecycle management. This includes functions from product setup, quoting, billing and invoicing, to revenue recognition, payment and collections.
Chief Executive Officer Dennis Wall remarked on the Gartner recognition: "Being named a Leader and Highest in Ability to Execute in the first-ever Gartner Magic Quadrant for Recurring Billing Applications we believe cements our position in the market as the company with the most flexible and extensible platform to address the complex, mixed billing needs of global enterprises. In today's dynamic business environment, revenue lifecycle management is critical for growth and in our opinion this report is yet another indicator of our modern platform approach and market momentum."
BillingPlatform has received several accolades recently. It has been named the Leader in Forrester Research's The Forrester Wave: SaaS Recurring Billing Solutions and evaluated with the highest overall rating in the MGI 360 Ratings Report for Agile Billing. Additionally, it is ranked as the Overall Leader and an Exemplary Vendor in Ventana Research's Subscription Management Value Index report. The company was also included in Constellation Research's Smart Services Digital Monetization ShortList and recognised as an Automated Revenue Management Market Leader by MGI Research. Further, it was noted as a leader in the IDC MarketScape: Worldwide Enterprise-Focused Subscription and Usage Management Applications Vendor Assessment and positioned as the leader in Quadrant Knowledge Solutions SPARK Matrix Report for Subscription and Billing Management.
In its fourth year on Deloitte's Technology Fast 500 list, BillingPlatform has also been honoured by the Best in Biz Awards for four consecutive years and listed on the Inc. 5000. Furthermore, the Software and Information Industry Association (SIIA) recognised the company as the Best Subscription Billing Solution in their CODiE Awards.
