Chargify, the leading billing platform for B2B SaaS, announced the release of its Chargify Business Intelligence product. The self-service analytics suite enables users to create custom dashboards with real-time billing and revenue management data. Third-party data can also be streamed-in to analyze alongside Chargify data. Early Business Intelligence users report optimizing nearly one month of productivity by saving up to four hours a week, or 25 days a year, by using the new product.
Historically, subscription businesses have been constrained and limited by the standard pre-built reports and metrics that nearly all billing platforms provide. Chargify Business Intelligence starts users with out-of-the-box reports and dashboards, but then provides the ability to clone and customize these out-of-the-box metrics, as well as build custom metrics from any available data. For the first time in the billing and subscription space, users can even stream-in data from across their business stack, such as Salesforce or Stripe, for cross analysis with their billing data, eliminating the need for clunky, manual processes.
“We’re really excited to be the first subscription management platform to bring the business intelligence functionality into the billing space,” said Paul Lynch, CEO of Chargify. “When you look at every other billing platform, like Zuora or Chargebee, their analytics are all very prescriptive and they’re telling customers what metrics they think they should look at. With Chargify Business Intelligence, we’re handing over the keys and giving our customers the control to analyze the specific data they know will be most beneficial to grow their unique business.”
Users of the new Business Intelligence product can also export custom CSVs for easy access to raw data. Data is streamed to Chargify Business Intelligence in real-time, enabling users to uncover actionable insights and respond to business challenges faster. Users also have the ability to define their own metrics to segment and dive down into their data for granular insights. Chargify Business Intelligence Intelligence provides a central source for Chargify users to access their billing and revenue management data alongside all other relevant business data.
“By using Chargify Business Intelligence, every key stakeholder in the business, not just the analysts, can meaningfully understand the state of their business and uncover where they’re winning and losing,” said Laith Dahiyat, Chief Strategy Officer for Chargify. “This new feature will positively impact each and every one of our customers by providing them with unlimited reporting capabilities.”
Chargify’s latest development aims to empower B2B SaaS companies with an accurate, 360-view of their business so they can make data-informed strategic decisions. Customers who piloted the technology have already seen very positive results.
“Chargify’s new BI tool has taken our speed-to-calculate and accuracy of MRR and financial metrics and reduced it down to a mere dashboard refresh with 100% accuracy,” said Jenny Leman, President of CareerPlug. “This saves our operations and finance teams a combined 2-4 hours per week of manual work. CareerPlug is just barely scraping the surface of what this tool is capable of, but I am a raving fan already!”
“With the new Chargify BI we can measure and develop our specific KPI’s with several hours saved every month and be more data driven analyzing churn, growth and customer loyalty,” said Per Ingman, Founder of Smakbox.
“Chargify Business Intelligence is extremely powerful, yet simple to use,” said Adam Saye, Co-Founder of PT Distinction. “The sharable dashboards are a game changer for getting the right data to the right people securely.”
Business Intelligence is powered by the data analytics and event streaming capabilities of the Chargify-owned Keen.io software. Chargify acquired the software in March 2020 to provide customers with real-time, data-driven billing and analytics solutions. Business Intelligence is the latest innovation released by Chargify aimed to disrupt the largely unchanged subscription and billing industry by leveraging the powerful Keen.io technology. Chargify previously made waves in 2020 with the release of its ground-breaking Events-Based Billing technology which uses Keen.io to create a multi-dimensional, pay-as-you-go billing functionality.
Chargify’s latest product innovation comes after a year where the company saw record-breaking revenue growth despite the COVID-19 pandemic. Chargify has also invested in growing its team across Europe and the United States and has increased its workforce by 26 percent over the past year. Earlier in April it was announced that Battery Ventures, a global, technology-focused investment firm, led a combined growth-equity investment of more than $150m in Chargify and SaaSOptics.
