Most tools for CPQ and billing don’t make sense for B2B SaaS businesses. That’s because they were developed for how business used to work, not how it works today. Sandeep Jain, CEO and cofounder of MonetizeNow, has built a different kind of solution.
Sandeep Jain started by researching all of the problems that come from billing complexity. He spoke to 200 people on LinkedIn, from all sizes of companies, and learned that they were spending millions of dollars trying to piece together the right tools.
“The RevOps job has become too tactical. You’re a plumber putting the pieces together.” - Sandeep Jain
RevOps bears the weight of managing CPQ, billing, invoicing, and other systems. Each comes with their own product catalogs and each catalog has their own languages, leaving RevOps teams trying to translate. This becomes a nightmare for the person managing the stack. When you constantly have to say no to quoting and billing changes, it can make you feel like a villain sometimes.
MonetizeNow built the right architecture from the very beginning, bringing CPQ and billing into the same system. Instead of connecting multiple tools, there’s just one product catalog in your RevOps stack, making it easier to sync across CPQ, quoting, and invoicing.
“The standalone CPQ is going to become extinct.” - Sandeep Jain
After debating whether to build MonetizeNow on the Salesforce platform, Sandeep decided to design it as a standalone product on a public cloud. Users aren’t limited by Salesforce standard objects or the necessary evil of creating too many custom objects.
When reps are ready to create a quote and send it to their customer, Salesforce takes them to a new MonetizeNow interface. Salesforce is automatically synced and gives reps access to everything that’s been created in MonetizeNow so far including products, offerings, approval requirements, and more.
“Quotes should be looked at as a piece of art” - Sandeep Jain
Most importantly, invoices and quotes are designed to be easy to read–and easy to sign. The better the quote looks, the better your chance of closing the deal. Once a deal is complete, MonetizeNow automatically creates an object called “Contract” which keeps track of all amendments, additions and deletions to the agreement, cross sells, and renewals.
MonetizeNow is a great fit for all B2B SaaS models including subscription, usage-based pricing, and even one-time payment. Instead of paying for every user, you pay per quote per user. if you’re also using their billing component, you’re charged a percentage of your revenue.
Implementation is fast for new deals, typically taking between 1 to 3 weeks. Some customers are up in running in a matter of days. If you have a large amount of existing contracts, it can take some time to migrate them over to MonetizeNow. You aren’t charged for implementation but there is a fee for services (at-cost) to handle transferring existing contracts.