Needed to Streamline Its Billing Process for Greater Efficiency and Transparency
With over 20 years of transportation industry experience, EnVue Telematics provides industry-leading technology and custom fleet management solutions to transportation businesses of all kinds.
In addition to offering a range of asset tracking and dash-camera devices to aid in fleet routing, dispatching, and safety, the company manages ongoing subscription services associated with these devices.
As pioneers in the industry, EnVue Telematics’ team members work closely with their customers to help them select and implement the right products and services to not only elevate their fleet safety and ensure Department of Transportation (DOT) compliance, but also to increase their revenue and drive growth.
Over the years as EnVue Telematics followed its own growth path—increasing its customer count and recurring subscriptions—its manual billing process became a burden. There were some obvious inefficiencies and a lack of real-time transparency regarding its subscription financials.
The company realized it needed to implement a more automated billing solution. This would not only reduce the company’s time spent on billing and reporting, but it would also unlock greater business insight and forecasting capabilities for the future.
EnVue Telematics offers its customers the best in telematics solutions, including Geotab, Azuga, and Samsara products. The company arms its customers with products and services to suit their specific needs and helps them understand and use their real-time data to save money and improve their operations.
As EnVue Telematics scaled within the telematics space, it began to feel the limitations and inefficiencies of its manual subscription billing process. Reporting was cumbersome and time consuming. The company was always weeks behind in terms of getting the information it needed because the data had to be pulled, entered into spreadsheets, and analyzed as needed.
Forecasting was also a lengthy process that involved a lot of manual work and back-and-forth effort from the company’s team.
Finally, EnVue Telematics’ subscription billing process was taking up about 24 hours every single month. Each of the company’s thousands of recurring subscriptions had to be created by hand.
After going down many paths, the company found Stax Bill to be the right solution to not only meet its digital transformation and billing automation needs, but also to integrate seamlessly with—and sit sub-ledger to—its accounting platform, QuickBooks.
It took some time to move the company’s thousands of customer subscriptions into a state of automated billing and management, but once EnVue Telematics’ subscriptions were up and running through Stax Bill, the company started seeing benefits in many areas.
Since moving to Stax Bill’s dynamic automated subscription billing software, EnVue Telematics has reduced its lengthy billing process by around 60% and achieved greater billing accuracy. This has enabled the company to recover additional revenue on a recurring basis.
The company has also been able to evolve the way it tracks its streams of revenue by breaking all its products down by general ledger (GL) code—something it never did before.
One of the greatest benefits EnVue Telematics has realized since partnering with Stax Bill is increased transparency. The company now has an elevated level of insight into its customer activity, the status of its subscriptions, it’s sales effectiveness, and its overall growth and well-being.
And on a day-to-day basis, the company’s team members can quickly access the meaningful data needed to perform their jobs and run the business more efficiently.
From a future perspective, EnVue Telematics has been able to decrease the amount of time it spends on budgeting and forecasting. The previously multi-month process now takes less than two days.
Overall, the company’s greater billing automation, accuracy, and clarity is enabling it to confidently reinvest into its continued growth and future success within the telematics market.