San Francisco and Chennai-based subscription management platform, , on Thursday announced that it has acquired collections management platform numberz and launched a new solution, Chargebee Receivables.
As per the statement, subscription businesses will now be able to automate their entire receivables process from purchase to payment, in addition to managing subscription products and invoices.
“Over the last year, we have focused on strategic acquisitions that grow our platform and solve a wide range of customer problems by building a unified solution that connects data points from all aspects of the business,” said Krish Subramanian, CEO and Co-founder of Chargebee.
“With the acquisition of numberz, we are focused on solving bottlenecks that often occur due to clunky Accounts Receivable systems that leave collections delayed and bills unpaid. When businesses are growing at a fast rate, it’s critical that decision-makers have full visibility into receivables so they have clarity into available working capital needed for growth,” Krish added.
Chargebee Receivables helps finance leaders reimagine this critical workflow, as per the company. Integrating with the existing ERP and accounting solutions, Chargebee Receivables will also provide finance leaders better visibility and control of their receivables and improve customer experience.
With the addition of numberz, Chargebee Receivables ensures that customers are billed on time, with total accuracy, all while keeping customers engaged and informed by offering incentives for them to quickly and easily pay on time. Working together, users can manage the entire order-to-cash process with minimal effort, freeing up energy to focus on reporting and exceptional customer service.
"We are excited to be a part of Chargebee and to add Accounts Receivable Management capabilities that help finance leaders better manage their entire order-to-cash cycle, aid business growth and unlock massive value,” said Aditya Tulsian, Co-founder and CEO of numberz.
The numberz team joins the SaaS unicorn in various offices and remotely across India, including the addition of executive team members to Chargebee’s leadership team. The acquisition comes directly on the heels of the recent additions of Brightback and RevLock to Chargebee, and a new round of funding co-led by Sequoia and Tiger Global.
Founded in 2011, Chargebee says it automates revenue operations of over 4,000 high-growth subscription-based businesses from startups to enterprises like Okta, Freshworks, Calendly, and Study.com among others.
Edited by Affirunisa Kankudti