Revstream Cloud Simplifies Revenue Managment for Subscription-Based Businesses
If a new application from Revstream works as well as the company claims it does, cloud services providers will have a much easier way of tracking subscription-based business revenue.
Revstream Cloud is based on the Revenue Lifecycle Management platform, and the cloud-based service provides businesses with the ability to quickly and cost-effectively get revenue management capabilities. At least according to the company. Designed with the challenges of cloud services providers and other cloud companies in mind, Revstream Cloud takes a different approach to revenue lifecycle management software that is based on one-time licensing and annual maintenance renewal fees. Instead, it focuses on the new world of subscription-based cloud services while aiming to ensure accurancy and compliance with revenue recognition processes.
As the company noted in its announcement, cloud applications have a much more dynamic revenue stream, as well as complexity in tiered services and different types of client needs. Revstream Cloud is meant to help alleviate some of those headaches by providing cloud services providers with an application that makes tracking and management subscription-based revenue easier and more cost-efficient.
"Because it is built with native understanding of such key SaaS metrics as MRR, Revstream Cloud completely eliminates licensing and implementation barriers to professional revenue recognition," said Rajiv Chopra, Revstream CEO, in a prepared statement. "It uses a proven approach to data and business process integration, and even recognizes newer metrics including daily recurring revenue."
Revstream Cloud was built on Force.com and demonstrated at Dreamforce in September, but it's now the the company has launched the application.
Considering the growth in cloud services, an application to make tracking subscription-based revenue seems like a long time coming. Chances are, a lot of cloud services providers are still struggling with managing recurring revenue streams, like channel partners have often struggled with managing professional and maintenance service contract renewals.