SAN RAMON, Calif., Jan. 23, 2024 (GLOBE NEWSWIRE) -- Subskribe, the Adaptive Quote-to-Revenue Platform for modern SaaS, saw eye-popping growth of 5X in 2023 as SaaS businesses continued to move off of legacy and siloed Configure, Price, Quote (CPQ), subscription billing, and revenue recognition systems. Growth was driven by increasing demand for Subskribe’s unified quote-to-revenue (QTR) platform, which significantly reduces operational costs, eliminates manual reconciliation, and provides a single source of truth for sales, finance, and revenue operations teams.
Subskribe reported double-digit growth in every quarter of 2023, with an overall year-over-year ARR growth rate of 405%. The company also maintained an industry-leading retention rate of 96%.
Subskribe added several high-profile customers in 2023, including Merge, Education Perfect, TrustArc, and Cognigy. Subskribe’s customers continue to rate the product highly, with Subskribe being named a High Performer for the fourth consecutive quarter across multiple G2 categories, including CPQ, Subscription Billing, and Revenue Management. With an overall 4.92 out of 5 star average rating from users, Subskribe was also ranked in G2 as the #1 Easiest To Use CPQ Software, the #1 Easiest To Use Revenue Management Software, and the #2 Easiest To Use Subscription Billing Software.
“2023 was a challenging year for many B2B SaaS businesses, and many began looking for ways to become more efficient and cost-effective,” explained Durga Pandey, CEO and Co-founder of Subskribe. “Every CFO and CRO is paying close attention to the bottom line, and legacy CPQ and billing vendors that cost an arm and a leg to manage just aren’t cutting it anymore. Subskribe has been fortunate to support the market with a streamlined platform that delivers a powerful and modern quote-to-revenue solution that costs a fraction to deploy and maintain.”
Subskribe released a number of industry-leading features in 2023, including:
- Revenue Recognition — Subskribe’s Revenue Recognition module empowers SaaS companies to tightly integrate the entire QTR process — quoting, billing, and revenue recognition — for fast, compliant operations. Subskribe’s Revenue Recognition tracks the complex details of SaaS deals, including line items such as onboarding training, user support, and professional services, so there’s never any doubt whether these services have been fully delivered or are still owed to the customer.
- Multi-Attribute Pricing — Subskribe’s Multi-Attribute Pricing (MAP) enables effortless configuration of price attributes, facilitating the creation of tailored pricing strategies that address the diverse needs of customers. Whether it’s a tiered, usage-based scenario or a regional pricing strategy, Subskribe MAP gives users the flexibility to create dynamic pricing structures coupled with an intuitive and user-friendly implementation.
- E-Signature — Subskribe’s native e-signature capability facilitates a smooth and cohesive contract process. With the click of a button, sales teams can send contracts out for signature and have full visibility into the entire audit trail.
- Amend & Renew — Subskribe’s Amend & Renew feature streamlines the process of renewing customer subscriptions, bringing amendments and renewals into a single, seamless workflow. With Subskribe’s Amend & Renew, customers can easily create both an amendment and renewal of a subscription simultaneously, all within a single order. This innovative approach ties back to a unified opportunity in the CRM, offering users the convenience of exploring upsell options and the flexibility of early renewal, enhancing the overall subscription experience.
About Subskribe
Subskribe is the Adaptive Quote-to-Revenue Platform for modern SaaS companies. Totally unified. No silos. Zero reconciliation, from quote to revenue. Designed in collaboration with some of the world’s leading SaaS companies, Subskribe helps businesses maximize revenue with innovative deal structures like ramp-up engagements, mid-term upsells, and flexible discounts. The result is faster time-to-market, increased top-line growth, and massive operational savings. Headquartered in the San Francisco Bay Area, Subskribe is backed by venture firms including 8VC and Slow Ventures. For more information, visit www.subskribe.com.
Patrick Chen
press@subskribe.com
