Global leader in respiratory medical solutions looks to eliminate manual processes and consolidate on a modern revenue lifecycle management platform for future growth DENVER , Aug. 21, 2024 /PRNewswire/ -- BillingPlatform , the enterprise revenue lifecycle management platform for today's innovative business models, today announced that ResMed , a global leader in the development, manufacturing and marketing of innovative medical products for the treatment and management of respiratory disorders, with a focus on sleep-disordered breathing, has selected BillingPlatform to automate its billing and subscription management, eliminating manual processes and reducing the risk of revenue leakage. Founded in 1989, ResMed is leading the way in cloud-connected medical devices that transform care for people with sleep apnea, COPD and other chronic diseases.
ResMed's comprehensive out-of-hospital software platforms support the professionals and caregivers who help people stay healthy in the home or care setting of their choice. With more than 24M cloud connectable device in the market and more than 7.8M subscribed users, ResMed is committed to building and supporting technology that helps people live healthier, happier lives.
ResMed was facing challenges with multi-step, manual processes associated with its legacy billing solution. The company was looking for a solution to automate the billing and invoicing of more complex, usage-based subscriptions and associated revenue recognition processes. In addition, ResMed was also looking to provide customers with greater visibility and flexibility in managing their invoice payments and to close the current payment time gaps that have potential for revenue leakage.
BillingPlatform emerged as the only solution on the market that met all of these needs and offered the flexibility and out-of-the-box integrations to third-party enterprise systems to accelerate time to value and reduce operational complexity. "As our subscription offerings expand with new products, technologies and solutions, manual processing has become a real operational challenge for scaling our growth," said Yona Capobianco, Global Process Owner, O2C at ResMed. "Our goal is to have one automated billing solution for our subscription business models to accelerate the cash cycle through timely invoicing and payments and a better overall customer experience, and we believe BillingPlatform has the modern, feature-rich platform to help us achieve that.
" With global customers serving multiple industries, including software, finance, media and entertainment and communications, BillingPlatform is the only billing and revenue management solution on the market that enables enterprises to monetize any type of product offering, from simple subscriptions to sophisticated usage-based pricing models and everything in between. BillingPlatform provides full lifecycle support of the monetization process – from product setup, quoting, billing and invoicing, revenue recognition, through payment and collections – all on a secure, next-generation cloud platform. The unparalleled flexibility of the platform puts enterprises in control of how they differentiate in the market, maximize profitability, reduce operational costs and improve the customer experience.
"With more than 900 million people worldwide impacted by sleep apnea, ResMed is leading the way in medical device innovation that delivers life-changing benefits to the market. Offering fully integrated solutions with customized digital insights to allow end users to personalize their experience makes ResMed a true differentiator in the market," said Dennis Wall , BillingPlatform CEO. "As ResMed looks to streamline its subscription management offerings, we look forward to working with them as they expand their offerings to better serve their growing customer base.
" BillingPlatform has earned many accolades this past year, including being named a Leader in the first-ever Gartner ® Magic Quadrant TM for Recurring Billing Applications , recognized as the Leader in Forrester Research's "The Forrester Wave TM : SaaS Recurring Billing Solutions," being evaluated with the highest overall rating in the MGI 360 TM Ratings Report for Agile Billing , ranked as the Overall Leader and an "Exemplary Vendor" in Ventana Research's Subscription Management Value Index report, named to Constellation Research's Smart Services Digital Monetization Platforms ShortList TM for 2024, positioned as an Automated Revenue Management Market Leader by MGI Research , named 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 TM Report for Subscription and Billing Management . The company was also recognized for a fourth year in a row as a fast-growing company on Deloitte's Technology Fast 500 TM , honored by Best in Biz Awards for its fourth consecutive year, listed on the Inc. 5000 for four years in a row and recognized by SIIA for the second consecutive year as the Best Subscription Billing Solution in the CODiE Awards .
About BillingPlatform, Corp. BillingPlatform empowers businesses with innovative software solutions to optimize revenue generation through every stage of the customer lifecycle, powering growth through operational agility along with a frictionless customer experience. Our industry-leading, cloud-based platform is leveraged by global enterprises to optimize the customer journey from idea to revenue.
With global customers across multiple industries, including software, finance, media, transportation, and communications, BillingPlatform processes billions of transactions and dollars every year, enabling enterprises to grow revenue, reduce costs and improve overall customer experience. To learn more, visit billingplatform.com .
Press Contact: Abigail Rappoport BillingPlatform [email protected] SOURCE BillingPlatform.
