According to a recent MarketsandMarkets report, the global cloud billing market is expected to be worth $16.59 billion by the year 2021. The cloud billing market was estimated at $5.7 billion last year, thus translating to a 24% annual growth rate over the next five years. San Francisco-based Aria is a leading player in this industry.
Aria was founded in 2003 by co-founders Brendan O’Brien and Edward Sullivan to provide a simpler and more efficient way for online companies to bill for their products and services. The two wanted to build a solution that would meet the needs of companies relying on alternative billing models such as usage-based billing and subscription-based billing. They devised a billing platform to cater to these billing models. Billing solutions range from the classic subscription-based solution to the more modern usage-based solution with a high watermark threshhold, one-time charges, or a combination of any of these. Aria’s services are also used by companies that offer freemium services. In their cases, Aria’s services kick in immediately, even at the free stage and include billing services for the paid-for premium service.
Aria has also ensured that it is integrated well into its customer’s existing systems. It has partnerships with Netsuite, Oracle, SAP, and Salesforce to help integrate seamlessly with their ERP offerings.
It has also been developing its products with emerging industries in mind. Last year, it launched a suite of solutions for the connected vehicles. The cloud-based monetization platform is focused on the connected car, on-demand transportation, and telematics market. It enables these companies to charge their customers for services on usage basis, such as car sharing by Zipcar, or subscription basis, such as Wi-fi subscription charges. The offering helps the automotive industry target recurring revenue opportunities.
Other improvements in the product line-up include the launch of Aria Crescendo – a new monetization platform that enables multi-dimensional customer choice. Crescendo will allow Aria’s customers to provide services for both individual consumers and business entities. It offers highly tailored product offerings, user friendly configurations that include the ability to define attributes including: pricing, promotions, consumption options, payment methods, dunning processes, product and account hierarchies, and business terms such as payers, channels, business units, geographies and entities. The platform will also aggregate bills for multiple locations and make services portable for customers as they change location, device, or use case.