The firm’s new AI Monetization solution helps companies that offer AI deploy a variety of pricing models, including subscription, usage, outcome and revenue sharing, the company said in a Thursday (Oct. 30) press release.
BillingPlatform enables AI companies to deploy new pricing models with low-code configuration, process millions of AI usage events per hour and manage annual recurring revenue with enterprise-grade performance, according to the release.
The solution also includes built-in tax, revenue recognition and regulatory compliance for more than 180 countries, per the release.
“AI is redefining how companies deliver value, but traditional billing models weren’t built for this pace of change and simple flat-rate pricing will not deliver the return needed to fuel AI’s continued growth and innovation,” BillingPlatform CEO Dennis Wall said in the release.
“Our platform gives our customers the flexibility to launch and scale AI monetization strategies with confidence — whether that’s usage-based pricing, token billing, subscriptions or performance-based models,” Wall said.
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In an earlier expansion of its platform, BillingPlatform said in March that it added a payment processing solution called BP Pay that enables its global enterprise customers to use one platform to monetize, collect and maximize payments.
The company said the unified platform eliminates the complexity of third-party payment integrations, provides seamless interoperability between billing and payments, and helps businesses reduce costs, streamline operations and maximize payment efficiency.
“BP Pay underscores our vision of providing a complete revenue management solution that adapts to the dynamic needs of modern digital enterprises worldwide,” Wall said at the time in a press release.
In February, BillingPlatform announced an expanded partnership with work management platform Quickbase in which Quickbase extended its use of BillingPlatform, “activating native revenue recognition functionality to further automate its revenue management processes.”
Quickbase integrated BillingPlatform with its tech stack, which includes Salesforce, Chase Paymentech (payments) and Avalara (sales tax).
“By expanding our use of BillingPlatform and its Revenue Recognition solution, we are advancing our broader strategy to automate and integrate financial systems, enhancing visibility and control as we scale our business,” Quickbase VP, Corporate Controller Nicole LaFrancesca said at the time in a press release.
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