New Features
Multiple Legal Entities for Both CPQ and Billing
What are Legal Entities? Legal Entities are dedicated business units, usually in different countries, and they process distinct company information.
- For instance, MonetizeNow has two different Legal Entities - MonetizeNow U.S. and MonetizeNow Netherlands B.V. to sell globally in a compliant way.
- Use Case: My Company is “MonetizeNow” and I want to sell to companies in both North America, and Europe. Owing to considerations like GDPR, the company alters the way it handles data and company information, necessitating the operation as two separate entities. Once both entities are setup in MonetizeNow, the information on the quote will vary based on the selected entity, facilitating precise tracking of financial transactions per Subsidiary.
MonetizeNow enables setting up multiple Legal Entities / Subsidiaries.
- Each subsidiary can maintain unique addresses, approval rules / approvers, eterms and conditions, and more.
- Each subsidiary can have their own selling currency(s), product offerings, and prices.
- The quoting process seamlessly connects with billing, enabling separate billing for each of your Legal Entities.
- Furthermore, MonetizeNow seamlessly integrates with Netsuite Subsidiaries
- Video
Customizable Display Frequency
Problem:
- Your pricing is currently displayed at the same frequency as it is billed. However, there may be situations where you want to sell on an annual upfront basis while still presenting the price as a monthly rate. This approach can assist in mitigating sticker shock when offering multi-year or annual deals.
How We Solve It:
- We address this issue with the "Customizable Display Frequency" feature, which grants you complete control over the displayed pricing frequency. For example, you can set it as monthly, quarterly, annually, or any other preferred interval (e.g., $1,200/year, $300/quarter, $100/month).
- Video
Minimum Commit in Advance
Problem:
- You want to want to receive Minimum Commitments in advance of processing usage. Consider a scenario where you enter into a contract on January 1st, but usage isn't being processed until January 31st. You want to ensure that you will receive payment so you would like to receive a minimum commit on the 1st, which will then be adjusted on the 31st.
Why would you want this feature?
- Improves cash flow timing.
- It lowers the risk associated with non-payment for services that have already been provided.
- Video
