Maxio Launches Billing, Financial Operations Solution for SaaS Firms

Billing and revenue management solutions provider Maxio has launched a one-stop solution that unifies financial operations for software-as-a-service (SaaS) companies.

By providing a single point of truth for all of a company’s SaaS billing and financial operations needs, the platform helps SaaS brands eliminate complexity and data siloes, according to a Tuesday (Sept. 13) press release.

The platform can also scale along with fast-growing SaaS companies, offering both the flexibility companies need in the early days and the ability to handle complexity that they need as they continue to grow, per the release.

“With Maxio, SaaS companies don’t have to choose,” Maxio CEO Randy Wootton said in the release. “Maxio strikes the right balance between agility and complexity at every stage of a company’s growth.”

This platform comes from the merger of the companies SaaSOptics and Chargify, two providers of financial management solutions for subscription businesses that were combined in April into the company now called Maxio.

Read more: SaaSOptics and Chargify Announce Merger, New Name

As a result, 2,300 customers worldwide are already using Maxio’s one-stop solution to manage over $10 billion in annual recurring revenues, according to the press release.

With the integration of the SaaSOptics and Chargify capabilities, Maxio helps leaders of SaaS companies move faster and make smarter decisions by accessing all their company’s data and subscription management intelligence via a single sign-on to the platform, per the release.

Among the information it delivers are metrics for subscription management, billing, revenue and expense recognition, the release stated.

As PYMNTS reported in May, the global market for SaaS has exploded in recent years, with forecasts estimating that this segment will reach $716 billion by 2028.

See also: Usage-Based Pricing Solves Billing Pains, Streamlines Payments for SaaS Firms

With the integrated platform, Maxio said SaaS business leaders can manage product-led, sales-led or hybrid go-to-market strategies, according to the press release.