CEO Report for Monexa Services Inc.: Rapid growth as cloud billing booms
Monexa announces another year of record growth
VANCOUVER, Jan. 12, 2015 /PRNewswire/ - Monexa Services Inc., a leading global provider of subscription billing solutions, today announced 2014 was its largest year of growth to date. In addition to gaining several high-profile enterprise customers and making key product advancements, Monexa added talent from world-class organizations, grew their channel program with new strategic partnerships and moved to a new office to accommodate for the company's growth.
"Monexa concluded 2014 with incredible growth, securing the company's position as a leader in the enterprise subscription billing market," said Barry Yates, President and Chief Executive Officer of Monexa. "After a fantastic 2013, I'm thrilled with the results, as well as the industry and customer validation we've achieved. Cloud billing has become a strategic consideration as business relationships become increasingly sophisticated, and organizations experience significant contractual variability across their customer-base. Managing this variability is complex and costly - and billing customers accurately and on time can often mean the difference between keeping a customer or losing them. Monexa will continue to innovate and provide our customers the ability to go-to-market with flexible pricing models, contract terms, and customer-friendly billing solutions."
2014 Highlights & Business Growth
Monexa's growth in 2013 generated considerable market interest, setting the stage in 2014 for the company to attract additional customers and continue to boost its profile within the cloud billing market. With a focus on the enterprise, Monexa won several key clients, including Cisco Systems, Compuware, the City of Elgin and OpenTable, the world's leading provider of online restaurant reservations. Monexa was also selected as part of Rocket Builders 2014 "Ready to Rocket" list, which identifies the Canadian companies that are best positioned to capitalize on technology sector trends. Additionally, leading independent industry analysts in the cloud-billing space raised their rating of Monexa, which they refer to as an industry leading subscription billing platform.
Platform Advancements
In 2014, independent analysts ranked Monexa's billing platform as the best in the industry, and the team has continued to add innovative features to the core product. These features are focused on the continued simplification of sophisticated billing operations for the enterprise, improving their end-customer relationships, and empowering them to compete more effectively. Specific product enhancements include:
- An innovative events engine that gives Monexa customers automated, granular, situational control with their end-customer communications - helping to increase end-customer transparency.
- Multi-dimensional pricing bundles that empower the deployment of new monetization models.
- Sophisticated taxation capabilities to accommodate for increasingly stringent jurisdictional taxation requirements - i.e. ensuring taxes are applied where services are consumed, not where they are contracted.
- Highly sophisticated time-and-service discounting capabilities that allow Monexa customers to compete more effectively.
- Draft invoicing capabilities that dramatically reduce billing disputes, and help Monexa customers build more transparent relationships with their end-customers.
"Monexa is committed to helping our customers compete more effectively," said Jason M. Grant, Monexa's Chief Technology Officer. "We are very proud of the direction of our product roadmap in 2014, and will have ground breaking innovations planned for 2015 that will greatly benefit our customers."
Company Expansion
Monexa added considerable talent to their growing team, including new employees who joined the company from Amazon, Blackberry, Hootsuite and SAP, among other leading technology companies. Hillary Lovric was also promoted to Vice-President of Professional Services where she will lead a rapidly growing team dedicated to ensuring a fast and reliable implementation of Monexa's billing platform. To accommodate for this growth, Monexa has moved its headquarters to 1075 West Georgia Street in Vancouver. The new office boasts a state-of-the-art designer space, a creative working environment, and twice the floor space as the company's previous headquarters.
Channel Program & Partnerships
Monexa's commitment to the growth of its rapidly expanding Channel Program was a focus in 2014. Monexa signed an exclusive partnership agreement with Ingram Micro, the world's largest wholesale technology distributor, to boost its offering of technology solutions. Monexa also partnered with hybris software, an SAP company and the world's fastest growing commerce platform, to help boost its global B2B e-commerce offerings. The company also strengthened its relationship with cloud computing giant salesforce.com. In addition to completing deeper integrations between the two products, salesforce.com selected Monexa as the billing engine for its Rapid Response 311 public sector bundle. Monexa also completed its integration with Dell Boomi, a leading ERP integration platform. The integration with Boomi will ensure the Monexa platform seamlessly integrates with current and future versions of all major ERP systems. To round out the year, Monexa is partnering with Avalara, a leading cloud-based sales tax and compliance platform, and partnered with ecommerce software leader Elastic Path.
"Monexa's focus is squarely on our customers' long term success and what they need to achieve that success. This is why we continue to seek and partner with organizations that extend the capabilities of the Monexa platform to provide a more complete end-to-end experience for our customers," said William Schonbrun, Chief Customer Officer at Monexa. "Whether it's an ERP, CRM, or any other technology, we believe a billing platform should extend that investment and be scalable to meet the needs of your business now and for the future."
2015 Initiatives
Monexa will continue to focus on delivering the best-in-class product to the market while adding top-tier talent to its growing team. 2015 promises to be another year of record growth for the company as the cloud billing industry further matures.
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About Monexa Services Inc.
Founded in 1998, Monexa is a cloud-based billing platform that enables organizations to manage and profitably monetize their business relationships with customers. Monexa supports a wide variety of billing scenarios — from simple subscriptions, to usage-based models, to the most sophisticated customer agreements with significant variability in contractual relationships. Monexa has enabled its customers to drive top-line growth, reduce billing costs and complexity, as well as improve customer relationships with a more friendly and transparent billing experience. For more information, please visit http://www.monexa.com/.
SOURCE Monexa Services Inc.
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