Summary: ResMed has chosen BillingPlatform to automate and streamline its global billing and subscription management processes as the company expands beyond medical devices into digital health solutions and software services. This partnership aims to address the challenges ResMed faced with its legacy billing system and support its growing global billing needs.
Key Takeaways:
- Automation of Billing Processes: ResMed is addressing challenges with its legacy billing system by partnering with BillingPlatform to automate and streamline its global billing and subscription management.
- Expansion into Software and Services: The partnership reflects ResMed’s move to expand beyond medical devices into digital health solutions, including software and cloud-connected services.
- Support for Global Growth: BillingPlatform’s solution aims to help ResMed manage its increasing global billing needs as the company continues to grow its customer base and service offerings.
BillingPlatform, a revenue lifecycle management platform, announced that ResMed, a manufacturer of products for respiratory disorders, with a focus on sleep-disordered breathing, has selected BillingPlatform to automate its billing and subscription management.
ResMed offers cloud-connected medical devices for people with sleep apnea, COPD, and other chronic diseases. ResMed has more than 24 million cloud-connectable devices in the market and more than 7.8 million subscribed users, according to a release from BillingPlatform. ResMed is applying this digital health expertise more broadly through the software as a solution business, offering software platforms that support healthcare providers in settings outside of the hospital.
ResMed was facing challenges with multi-step, manual processes of its legacy billing solution. The company was looking for a solution to automate the billing and invoicing of its usage-based subscriptions and associated revenue recognition processes.
“As our subscription offerings expand with new products, technologies, and solutions, manual processing has become a real operational challenge for scaling our growth,” says Yona Capobianco, global process owner, O2C at ResMed, in a release. “Our goal is to be able to meet our rapidly growing global billing needs as we continue to expand beyond medical devices into software and services. We chose BillingPlatform because they have the modern, flexible, feature-rich platform to help us achieve that.”
Streamline Subscription Management Offerings
BillingPlatform enables enterprises to monetize any type of product offering, from simple subscriptions to sophisticated usage-based pricing models. BillingPlatform provides full lifecycle support of the monetization process—from product setup, quoting, billing and invoicing, revenue recognition, through payment and collections—all on a secure, next-generation cloud platform.
“With more than 900 million people worldwide impacted by sleep apnea, ResMed is leading the way in medical device innovation that delivers life-changing benefits to the market. Offering fully integrated solutions with personal digital insights to allow end users to personalize their experience makes ResMed a true differentiator in the market,” says Dennis Wall, BillingPlatform CEO, in a release. “As ResMed looks to streamline its subscription management offerings, we are excited to partner with them as they expand offerings to better serve their growing customer base.”
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