BillingPlatform, the enterprise revenue lifecycle management platform, has announced a strategic alliance with J.P. Morgan Payments. The partnership aims to support the billing requirements across J.P. Morgan Payments' various business units. The news of the partnership was released on 6th November 2023.
The solution provided by BillingPlatform has been incorporated into J.P. Morgan's ecosystem, enabling a more efficient service for the company's Treasury Services and Trade Finance operations. As part of J.P. Morgan's wider billing and pricing transformation strategy, the integrated solution is intended to broaden billing capabilities and meet the evolving needs of the market. Key benefits resulting from this integration include the capability for flexible billing configurations, workflow automation, and strategic integrations to achieve end-to-end processing.
Jill Jensen, Managing Director of J.P. Morgan Payments Technology, weighed in on the new alliance, saying, "Our partnership with BillingPlatform provides us with a configurable solution that fits into our broader revenue lifecycle ecosystem to help us meet our complex billing needs, initially for our Treasury Services and Trade Finance business. BillingPlatform will be an integral part of our transformation to streamline the customer experience."
BillingPlatform, a market leader as recognised by Forrester Research, serves a global clientele from various industries, including software, finance, media, entertainment, and communications. The platform allows enterprises to monetise all sorts of product offerings, ranging from simple subscriptions to intricate usage-based pricing models. The platform also supports the full lifecycle support of the monetisation process, including product setup, quoting, billing and invoicing, revenue recognition, payment, and collections. All of these processes are carried out on a secure, next-generation cloud platform that offers unparalleled flexibility, thus enabling enterprises to differentiate in the market, maximise profitability, reduce operational costs, and enhance the customer experience.
Dennis Wall, CEO of BillingPlatform, shared his insights on the partnership, stating, "This partnership with J.P. Morgan further validates our commitment to support enterprise complexity and security. Whether it is through system consolidation, process automation or accelerating the rollout of new products and services to drive revenue, we are excited to support J.P. Morgan in creating a frictionless journey for their customers. The J.P. Morgan agreement signals we have built a solution with unique digital transformation value to enterprises of all sizes."
Over the past year, BillingPlatform received a number of accolades, recognising its dominant position in the field. It was named Leader in Forrester Research's The Forrester Wave: SaaS Recurring Billing Solutions, Q1 2023, scored highest overall rating in the MGI 360 Ratings Report for Agile Billing, and was ranked as the Overall Leader and an Exemplary Vendor in Ventana Research's 2023 Subscription Management Value Index report. The company also featured in Constellation Research's Smart Services Digital Monetisation ShortList for 2022 and was recognised as an Automated Revenue Management Market Leader by MGI Research. Additionally, IDC MarketScape named BillingPlatform as a leader in its Worldwide Enterprise-Focused Subscription and Usage Management Applications 2022 Vendor Assessment.