BillingPlatform Teams With Quickbase on Revenue Management

Revenue lifecycle management platform BillingPlatform says it has expanded its partnership with Quickbase.

Quickbase, a work management platform, has expanded its use of BillingPlatform, “activating native revenue recognition functionality to further automate its revenue management processes,” the company said in a Thursday (Feb. 20) news release.

According to the release, Quickbase initially chose BillingPlatform to boost its growth while offering flexible pricing and packaging for its complex usage- and subscription-based models.

Quickbase has integrated BillingPlatform with its tech stack, which includes Salesforce, Chase Paymentech (payments) and Avalara (sales tax). As Quickbase continues to expand its offerings, BillingPlatform has provided a scalable solution to meet the company’s evolving business needs, per the release.

“BillingPlatform has enabled us to streamline our billing processes, eliminating the need for our finance team to make extensive manual billing adjustments while simplifying customer engagement,” Quickbase VP, Corporate Controller Nicole LaFrancesca said in the announcement.

“By expanding our use of BillingPlatform and its Revenue Recognition solution, we are advancing our broader strategy to automate and integrate financial systems, enhancing visibility and control as we scale our business.”

The expanded partnership comes at a time when, as PYMNTS wrote late last year, automation is increasingly being viewed as a way to transform B2B business functions — such as accounts payable (AP) and accounts receivable (AR) — that have traditionally been cost centers into ones that can enable growth.

“The future of B2B payments lies in embracing digital innovations and automation technologies to unlock efficiency, security and scalability,” that report said. “This makes it crucial for businesses to understand just what they are looking to get out of AP or AR automation — and then going out and getting it.”

Research by PYMNTS Intelligence has found that businesses continue to struggle with AP systems that rely mainly on inefficient, manual processes. Sixty-three percent of CFOs say their companies’ AP functions have run into delays. Invoice capture; approval workflows; payment scheduling; fraud detection and compliance; and reporting and reconciliations are all AP workflows that are being fundamentally transformed by automation.

Additional research has found that a lack of transparency around AR workflows can cause accounting teams to operate in the dark, leading to payment hurdles, inefficiencies and hidden costs that go undiscovered.

“Invoice generation, payment collection, customer communication, dispute management and reporting and analytics are all areas where AP automation can provide significant benefits compared to legacy methods,” PYMNTS wrote.

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