Data activation platform Hightouch has launched an automated billing solution for business-to-business (B2B) software companies that offer usage-based pricing.
By eliminating the need for complex software engineering, the solution enables finance and business teams to more easily deploy or experiment with consumption-based pricing.
Customers can now directly activate usage data from their cloud data warehouse and sync it automatically to billing applications such as Stripe and NetSuite by leveraging Hightouch and structured query language (SQL), stated the firm.
This is expected to help in the automatic generation of invoices with accurate usage data, seamless auditing of transactions, and developing go-to-market strategies based on usage and billing data.
The solution will enable clients to set up their usage-based billing system in less than an hour without the need for large teams of engineers.
Besides, it will help data and finance teams to offer a seamless invoicing experience to their customers with the product usage data that is already present in their cloud data warehouse.
Furthermore, the automated billing solution is intended to help enterprises to send consistent billing data to user-facing dashboards, set up alerts on the billing information in Slack, initiate discounts or credits in Stripe or NetSuite, and make auditable updates to business models.
Hightouch co-CEO and co-founder Tejas Manohar said: “Getting usage-based billing right is a big investment. Relying on traditional approaches, companies must invest precious data engineering resources to build custom scripts and business process automation.
“Modern teams are using a data warehouse-centric approach to disrupt this pain point. Leveraging Hightouch’s Reverse ETL platform and the warehouse dramatically reduces engineering hours and continual maintenance while offering clarity and auditability on the business logic and underlying data.”
