Archive for February, 2017

Behind-the-Scenes: Meet the Real Team Rev.io

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If you’re a Rev.io client, you probably know our team as the best-of-the-best in billing and back-office management. While we love helping businesses like yours grow, we are just regular people, with regular interests outside of work (we know – it’s hard to believe). After all, we didn’t get recognized as one of the “Best and Brightest Companies to Work for in Atlanta” for nothing.

Here are few behind-the-scenes insights to help you get to know our team a bit better.

ACT TOP Nominations

Each month, the Rev.io Team gets together for our all employee meeting and a chance to recognize one another (through nominations) for embodying our values over the month.  During the meeting, our Senior Leadership Team provides transparency into progress toward company goals, the organization’s financials, and overall status of each department.

Team Building Activities

Achieving extraordinary results and delivering exceptional service is our passion, but we like to cut loose every now and again. Once a month, team Rev.io hits up Fado’s Irish Pub in Buckhead Village for happy hour. Our go-to order? French fries, craft beers, and red wine. If anyone has suggestions for other great happy hour spots in Buckhead (especially with outdoor seating once the weather gets warmer) hit us up in the comments section!

Our Buckhead Digs

We are proud to work and play in the heart of Buckhead, surrounded by other innovators in a popular Atlanta tech hub. We take full advantage of everything the area has to offer (like Marta access and award-winning dining). Our office has a ping pong table (heated tournaments included), corn hole, a toddler-sized basketball hoop, a portable putting green, and….a Nintendo 64. But we promise, we’re professional adults who you can trust with your billing and customer management needs…

Office Fun & Competition

Last, but not least, we are unbelievably proud of our home-state football team – the Atlanta Falcons. Despite a heartbreaking, final-quarter loss, we made it to the Super Bowl and gave the Pats a run for their money! As you can guess, with headquarters in the south, we all take our football very seriously – so each year we host an office fantasy football league. The prize? A two-foot-tall trophy that proudly sits on the winner’s desk for the rest of the year (and bragging rights, of course).  Also, team Rev.io isn’t embarrassed to admit that we love ABC’s The Bachelor. The real question? Is Corinne going to take that final rose?

Interested in working with our team? Learn more about our culture and check out our list of current openings.

Rev.io Layers Elev.io into Billing Platform for Streamlined Support

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At Rev.io, we’re committed to the success of our clients. To meet the changing needs of Communications and IoT service providers, we’re constantly evolving our recurring billing software with new features, integrations, and functionality. This year, we’re making a concerted effort to offer continuous training courses to our clients and employees.

We’re excited to announce that we’ve selected Elev.io for Rev.io’s client support tab (labeled “Need Some Help?”).  Along with putting hundreds of step-by-step articles at our clients’ fingertips, the new tool recommends resources (based on the user’s page) and is layered into Rev.io’s recurring billing software.

“Elev.io gives our clients help where they need it,” says Matt Robison, Rev.io’s VP of Client Success.  “Several months back we realized that our team had built a very robust and easy to read library of help articles, but many clients didn’t know about them or wouldn’t remember to access through the dropdown in Rev.io. This self-service feature reminds and presents the information in an accessible and elegant way in the UI.”

The recently released Elev.io sidebar has already taken off among Rev.io clients and internally. The Rev.io Team is thrilled about the addition and plans to deliver new content regularly. If you’re interested in learning how our billing system can help you, contact Rev.io today!

[Press Release] Rev.io Named a TAG Top 40 Innovative Technology Company

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Rev.io Named a TAG Top 40 Innovative Technology Company

Technology Association of Georgia Honors 40 Companies for Innovation and Contributions to the State’s Technology Community

ATLANTA (February 15, 2017) – The Technology Association of Georgia (TAG), the state’s leading association dedicated to the promotion and economic advancement of Georgia’s technology industry, today announced Rev.io as one of its TAG Top 40 Innovative Technology Companies in Georgia. TAG will recognize this prestigious group at the 2017 Georgia Technology Summit on March 23, 2017, at the Cobb Galleria Centre.

TAG’s Top 40 Awards recognize Georgia-based technology companies for their innovation, financial impact, and their efforts at spreading awareness of Georgia’s technology initiatives throughout the U.S. and globally.

“The 2017 Top 40 finalists are an elite group of innovators who represent the very best of Georgia’s Technology community,” said Larry Williams, President & CEO of TAG. “The 2017 Top 40 finalists are shining examples of what makes our State such a hotbed for technology and we applaud them for standing out as leaders in Georgia’s technology community.”

This year’s TAG Top 40 Companies were selected from among over 110 applications submitted by companies from across Georgia. Companies selected for the “Top 40” will be showcased in an exhibition at The 2017 Georgia Technology Summit.

“An extraordinary number of truly innovative technology companies participated in this year’s Top 40 competition, demonstrating the depth and breadth of Georgia’s technology community,” said Dennis Zakas, managing partner of Zakas & Leonard, LLP, CEO of Zinc., and chairperson of the Top 40 Selection Committee. “In fact, based on the quality of the contestants, we could have had a ‘Top 60’ without losing a beat.”

As the leading provider of sophisticated billing and customer management solutions, Rev.io is focused on solving the mission-critical problems of Communications and IoT service providers. “We’re constantly innovating our platform to align with our clients as they’re making technological advancements and widening their offerings,” says Rev.io’s VP of Sales and Marketing, Evan Rice.

Rev.io keeps their clients ahead of their competition by constantly evolving the platform to meet the changing needs of the communications and technology industries. “Our platform, consultative approach with clients, and powerful ecosystem of integrations and strategic partnerships sets us apart from others in the space,” says Rice. Rev.io recently announced that their clients, for the third year in a row, have grown by more than double the industry average.

The 2017 Georgia Technology Summit is expected to draw a crowd of more than 1,300 C-level executives, entrepreneurs, technology professionals and academia to celebrate and recognize Georgia’s technology community. In addition to presentations from some of the top technology influencers in the nation, the newest member of the Technology Hall of Fame of Georgia will be inducted.

For more information about TAG and the Georgia Technology Summit and to register for the event, visit http://www.tagonline.org/events/georgia-technology- summit and Follow the conversation on Twitter through #TAGGTS.

 

ABOUT THE TECHNOLOGY ASSOCIATION OF GEORGIA (TAG)

TAG is the leading technology industry association in the state, serving more than 30,000 members through regional chapters in Metro Atlanta, Athens, Augusta, Columbus, Macon/Middle Georgia, and Savannah. TAG’s mission is to educate, promote, and unite Georgia’s technology community to foster an innovative and connected marketplace that stimulates and enhances a tech-based economy.

Additionally, the TAG Education Collaborative (TAG’s charitable arm) focuses on helping science, technology, engineering and math (STEM) education initiatives thrive.

For more information visit the TAG website at www.tagonline.org or TAG’s community website at http://www.hubga.com To learn about the TAG-Ed Collaborative visit http://www.tagedonline.org/

 

ABOUT REV.IO

Rev.io, recognized as an Inc. 5000 company, provides sophisticated billing-as-a-service (BaaS) to communications and Internet of Things (IoT) service providers, enabling them to manage their end customers’ subscriptions, usage, taxation, billing, and payments. To learn more about Rev.io, go to the Rev.io website or give us a call at 866-470-5502.

 

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MEDIA CONTACT

Olivia Sekerak, Rev.io

marketing@rev.io

Direct: 540-529-3657

 

 

Optimizing Your Subscription and Recurring-Revenue Business

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If you’re a subscription business owner, you know how critical revenue optimization is to your bottom line. Perhaps you often wonder whether you are offering the right subscription at the right time for the right price. Or, once you lock in those customers, how you will encourage them to stick around for the long haul.

It all comes down to the numbers for recurring revenue businesses. Metrics should empower subscription businesses to gain a better understanding of their customer base while keeping a close eye on the overall health of the business. So we wanted to know – what metrics are the most important for a SaaS or subscription based business?

Since Rev.io is the system that powers billing, we took a look at all of the top reports used by our most successful clients. Interestingly, we found a fairly clear trend on which reports are used on a weekly, if not daily, basis… and we want to share them with you. Here are five critical metrics to optimize your subscription-based business for the very best results.

Keep a Close Eye on MRR

Your MRR (or Monthly Recurring Revenue) is the average of your pricing plans and billing periods, normalized to a monthly total.. Additional MRR will typically stem from new customers’ purchases or current customers upgrading. Check in with this number often to determine what lead to the change over previous months and be sure to watch trending data. If you notice a decrease month-over-month, you may have a bigger problem with customer retention. MRR gives you a clear view of your revenue stream and will point you in the right direction for further optimization.

Minimize Your Billing Errors

It may seem obvious but, without doubt, there is a correlation between increased billing errors and decreased customer LTV. Why? Modern customers expect flawless relationships with their service providers. One slip up on the back end could cause a lack of trust and eventual churn for recurring revenue businesses. There are plenty of service providers out there – make sure your customers have plenty of reasons to stick around.

Get Comfortable With A/R Aging

Don’t worry, we’re not going to take you back to accounting class, but the status of your accounts receivable is critical for optimization. These numbers will give you an idea of the overall effectiveness of your collections department and help you determine whether action is needed.

For subscription businesses, bills are sent and collected on a regular basis, making AR a critical part of operational success. Rev.io’s AR aging reports shows each customer’s current balance, 30-day balance, 60-day balance, 90-day balance, 120-day balance, and total balance. Having all of this data in one place makes monthly reconciliation faster and more effective.

Make LTV Your Best Friend

As your subscription business grows, you’ll start to turn your focus more to a customer’s LTV, the revenue a customer is expected to bring in over the course of their subscription. The goal of any recurring revenue business is to turn subscribers into lifelong customers, and LTV is the best way to track this long-term value. Increased LTV for a subscription business comes down to the product and the way you take care of your customers. Our integrated customer profiles make it easy to communicate and deliver with confidence.

Ready to optimize your revenue models at lightening speed? Don’t go at it alone – a powerful subscription billing system will give you all the insights and data you need to scale faster. Rev.io allows you to easily customize and manage your service offerings so you can upsell and cross-sell smarter. Check back in for more tips to grow and optimize your recurring revenue or subscription business.

Refer a Friend to Rev.io, Win Big!

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“I get by with a little help from my friends.” – The Beatles

At Rev.io, we’re more than just another technology vendor. We truly consider ourselves to be our client’s partners in growth. We work hard to deliver the best billing and back-office software company in the world. Our secure, reliable, and flexible platform helps companies (both big and small) scale with ease, and we’d love your help spreading the word.

We know your time is valuable, so with our referral bonus program, you’ll earn between $1,000 to $5,000 for every company you refer that becomes a Rev.io client. And we promise, we’ll take good care of your referral. We offer a high-touch, consultative approach and deliver nothing but exceptional results and extraordinary service to every client.

Here’s how it works:

  • Complete the referral form
  • A member of our team will contact your referral
  • If your contact signs a contract with Rev.io, we’ll send you up to $5,000!

Oh – and if you haven’t already – we also suggest that you get in touch with your referral so they won’t be surprised when someone from Rev.io contacts them!

Whether you’re a current client looking to spread the word or just a good samaritan and know of a company who could utilize our services, we would truly appreciate your support. Use the form below to refer a friend to Rev.io, or if you want more insights beforehand – get in touch with us anytime.

Refer Your Friend Here

A Note from Rev.io’s CEO to the Team

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“While I write my next day’s to-do list, I reflect on my achievements. And by doing this, I also try to listen as good as I can how much fun and fulfillment I have gotten.”
– Steve Jobs

Science shows that acknowledging your accomplishments and reflecting on the past is critical for growth of any kind, especially in business. But when you’re dedicated to client growth like we are at Rev.io, it can be all too easy to run full-steam-ahead, overlooking internal wins. Today, we’re putting the to-do lists aside for a moment to reflect on what we’ve accomplished internally.

Four years ago, our team moved headquarters to Atlanta, GA and had the privilege of welcoming Brent Maropis as the new Rev.io CEO. It has been an incredible journey ever since. Here’s a note from him, congratulating the team on a job well done in 2016:


To Our Team – Thank You for Everything You Do.

I want to take a moment and thank each of you for your hard work in 2016. We came a long way as a team and company this past year, and I am truly proud and honored by our accomplishments together. Like previous years, we did an excellent job building upon previous themes, but this year was different. We learned the value of saying ‘No’ to projects that did not align with our goals, chose roadmap projects that positioned us on the cutting edge, invested in employee development, empowered leaders within the company to deliver on our goals and successfully rebranded. Commitment to connection was the first theme that lasted an entire year, giving it much deeper meaning and impact.

Ultimately, the difference from 2016 compared to past years was the fact that we superseded our annual goal! AWESOME JOB! I think about this year vs. previous years and the real difference is the strength of our team and strength of our ACT TOP culture which makes all of this possible. I love it. Our success is derived from your feedback and initiative to make Rev.io the best place to work, and the best billing and back-office software company out there. It’s humbling to reflect on the transformation that takes place over the course of the year and see your brilliant ideas come to life. You changed our company for the better.

Looking forward, I am more confident and excited than ever before to gain your feedback on new ways we can further manifest our ACT TOP Values. This year, we will build on our theme of Commitment to Connections by Empowering employees to Evolve Rev.io for the betterment of our team, partners, and clients. Together we will find new ways to serve and grow clients, establish new partner strategies, leverage innovation to make it easier to integrate & implement Rev.io and expand into new markets. We will also onboard our 100th client and Rev.io will turn 15 years old.

Thank you again for such a great year and I look forward to an amazing journey together in 2017. I wish you and your families a Happy New Year.

All the best,

Brent Maropis
Rev.io CEO

Are You Leaving Revenue on the Table?

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Recurring revenue – it’s a beautiful thing…

…but it can be a total nightmare if you don’t have a strong billing system in place to handle its inherent complexity.  As adoption of highly customized recurring revenue models rapidly expands, more and more businesses are entering the subscription economy and looking for ways to adapt their back-office operations to keep up.

According to TUFF, revenue leakage is a real problem causing millions to be left on the table. They found that the communications industry suffered estimated losses of about $953 million (based on an average loss of 2.4% against total reported revenue). For many businesses, revenue leakage is a multi-faceted issue that can be difficult to spot and address. Leakage usually begins with small customer accounts that don’t seem like major problems but, overtime, can add up to a major loss in profit.

Facing these issues head-on can improve revenue assurance and give your organization the ability to scale. So, how can you eliminate revenue leakage while driving your business’ bottom line? Here are the top five ways to make it happen:

1) Track Different Usage

The ability to track and bill for different usage is key for those in the subscription space. For the modern consumer, pay-as-you-go pricing is not just desired , it’s expected. If your backoffice is lacking the ability to track different usage and execute metered billing, you’re missing out on revenue. Leveraging metered billing will help ensure that you’re charging for various usage and never leaving potential revenue on the table.

2) Deploy Auto Expirations for Discounts

Most service businesses offer discounts to customers who meet certain service level criteria. While this can increase sales in the short-term, overlooking expiration dates on these discounts can quickly eliminate your margins. In fact, Aberdeen estimates that a lack of data visibility can result in 10% lower revenue because unearned discounts are granted. Ensuring your billing system can support and automatically deploy auto expirations is vital for your business’s growth. Deploying auto expirations can help you avoid unwanted leakage.

3) Explore Tiered Pricing Models

Offering your service at different price points can help subscription businesses increase potential revenue. But with the amount of research and analysis necessary to launch, the pursuit of tiered pricing models can quickly become extremely daunting and, in some cases, out of reach. By gaining access to comprehensive, easily accessible data, you can empower your organization to deploy pricing models that truly impact your bottom line.

4) Optimize Current Packages

In order to mitigate and correct revenue leakage, businesses must first identify their gaps and quickly establish an end-to-end approach to avoid future challenges. Easier said than done. Before pursuing new lines of revenue or revamping your entire pricing structure, optimize the packages you already offer. A strong A/B testing plan can dramatically increase your revenue and ultimately minimize revenue leakage. Traditional siloed data analysis won’t cut it. For true optimization, you’ll need to move away from manual billing processes and adopt sophisticated IoT and telecom billing solutions.

5) Embrace Redundancy, Layer Mobility

Recent studies show that between one to three percent of all revenues are unbilled and between two to six percent of billed revenues go unpaid. This unbilled usage is hurting your bottom line. For every minute that your billing system goes down, you’re missing out on revenue you could have been earning. Wondering where you can find such a reliable system? We have your back – Rev.io’s platform has 99.99% uptime and built in redundancy so you never miss a beat and can monitor your customer’s usage with ease.

So, ask yourself – what’s holding my organization back from substantial growth? If the complexities of back office billing is the answer, know that Rev.io is here to help. Contact us anytime with questions or comment: info@rev.io.

[Press Release] Rev.io Showcases Newly Released Suite of IoT Features at IoT Evolution Conference & Expo

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Top innovator in sophisticated billing, Rev.io, expands into the IoT market by enhancing their platform to meet the needs of IoT / M2M service providers.

Atlanta, GA (February 8, 2017) – This week, Rev.io joins companies from around the world in Fort Lauderdale, FL for the IoT Evolution Conference & Expo, an annual Internet of Things event. During the event, Rev.io will announce their new IoT / M2M feature suite – dedicated to helping companies expand into IoT and get to market with speed.

In 2016, the IoT industry became a $150 billion market and is estimated to grow to three and a half times that by 2020.* Revenue growth is driving the widespread IoT adoption, but not all companies are equipped with the tools required to keep up with such a fast-growing market.

Rev.io’s suite of IoT features – comprised of new order entry and quoting, advanced proposal generation, and customizable fields and layouts – is, by far, the single largest strategic release for IoT in recent years. “Rev.io realizes that IoT is not just an industry, it’s a movement and we’re passionate about enabling that innovation” says Rev.io’s VP of Sales and Marketing, Evan Rice. “That is why we are innovating our platform to align with our clients as they make incredible technological advancements and widen their offerings.”

With the new platform advancements, communications and IoT service providers can enjoy a complete quote-to-cash solution for recurring and metered billing, device management, process automation, and business intelligence. Entering new customers into the Rev.io platform is quick and easy with a robust API, a two-step account activation tool, and a bulk-importing feature for complex accounts.

Altaworx, a leading provider of hosted PBX, mobile VoIP, and IoT solutions,will be co-exhibiting with Rev.io at the IoT Evolution Conference & Expo. As one of the first Rev.io clients to add an IoT offering to their services portfolio, Altaworx is leveraging its partnership with Rev.io to expand to new markets.

“As a longtime client of Rev.io, we again asked our Rev.io team to help us integrate AT&T’s Jasper-Contol Center billing data with the Rev.io web-based billing platform. Having access to the AT&T Jasper-Control Center platform has enabled Altaworx to rapidly expand its partner base over the past year,” says Atlaworx CEO, Richie Richey.

Rev.io keeps their clients ahead of the competition by constantly innovating their platform to meet the growing and ever-evolving needs of the communications and technology industries. The development work that Rev.io completed in 2016 puts them in a position to be the leader of sophisticated billing in the IoT space.

*Source: SDX Central online article, Utilities Could Reap Millions from IoT, Navigant Says by Sue Marek, December 9, 2016

 

ABOUT REV.IO

Rev.io, recognized as an Inc. 5000 company, provides sophisticated billing-as-a-service (BaaS) to communications and Internet of Things (IoT) service providers, enabling them to manage their end customers’ subscriptions, usage, taxation, billing, and payments. To learn more about Rev.io, go to the Rev.io website or give us a call at 866-470-5502.

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MEDIA CONTACT

Olivia Sekerak, Rev.io

marketing@rev.io

Direct: 540-529-3657

Looking Back: Honoring 15 Years in Business

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Back in 2002, we had a vision to create an agile and adaptable platform to help our clients grow. Fast forward fifteen years in business – 2017 marks a major milestone for Rev.io’s usage-based billing platform, and we have no plans of slowing down. Thanks to our strong team, inspiring clients and dedicated partners, this has been an incredible journey. We’ve learned a lot, made a few mistakes, built an amazing team along the way and helped our clients soar to new heights.

Before we move full steam ahead into our future, we wanted to take a moment to reflect on the past. What better way to recap the last fifteen years in business and the lessons we’ve learned than by chatting with the people who were there all along?

Q&A Session With 3 Rev.io OGs

Name: Ross Overstreet
Title: Founder, CTO
Years at Rev.io: 15

Name: Evan Rice
Title: VP of Sales & Marketing
Years at Rev.io: 5

Name: Alan Sellers
Title: Software Engineer
Years at Rev.io: 13

Q: What have been the biggest lessons learned in scaling up?

“As you scale, you have to take extreme care of the people that you hire or you risk eroding the culture that made you great enough to scale in the first place.”

– Evan Rice

Ross: That this company is only as great as its people. Hiring the best people is what makes any company successful. We try to be completely transparent with our team to help them feel empowered and important, because they are! We also try to keep our employees happy – it’s an initiative that we’re constantly working on and improving.

Q: You’ve built a powerful platform that’s leading in the industry. How did you determine what features your customers needed most?

Evan: We leverage feedback from our clients through multiple methods: on-going client business reviews, meetings at industry events, Rev.io’s Annual Summit, and through our electronic forum Rev.io ideas. We also stay on top of industry trends and choose one to three larger strategic items every six months to develop as Strategic Roadmap releases to help keep our clients out in front of the industry.

Q: What are some lessons you’ve learned through the hiring process?

Evan: The pressure to gain capacity by filling an open position can be massive and it can lead to unconsciously compromising your standards. I typically like to ask two other Rev.io employees to conduct short interviews with the candidates. That second or third opinion from other employees (who don’t have the same pressure to fill a position) helps confirm that the candidate will be a good fit for the company.

Ross: I like to ask everyone the same basic questions so I can later compare answers to standardize the interviewing process. I like to evaluate people on values and their specific skills and objectives. Spending part of the interview asking value-based questions (as opposed to just skill-based questions) is crucial for us. This helps determine if the candidate would truly fit in here. The ideal candidate profile has changed over time. As Rev.io grows, we’ve had to evolve our interview process to keep up with the growth of our company.

Q: What do you feel has been the biggest milestone since launch?

“The move to Atlanta and Brent joining the Team as CEO. The last four years have been incredibly fun and we’ve improved so much. For the first 10 years, we dedicated almost all of our time to developing the software itself. Every year gets better now because we’re growing and changing and learning.”

– Ross Overstreet

Evan: There have been many milestones, but the one that stands out is hitting five million in annualized recurring revenue.

Alan: Probably moving out of the POTS Communication segment. Communications in general was expanding (VoIP, wireless, etc), so we decided to generalize the platform. Now, we have lots of different clients using our recurring billing platform. Another major milestone was the transition to having clients come to the office to do in-person training. Before that, we did one-on-one training with clients over the phone. It was exciting to see multiple clients come into our office each monthly for a session. That’s when it really occurred to me that we were growing quickly.

Q: How do you stay relevant in an industry that can sometimes seem outdated?

Evan: The industry we are in isn’t outdated. Cloud, IoT, SDN…these are all at the heart of our core industry. We align ourselves with innovative companies. The ones that are committed to the outdated version of our industry simply won’t survive.

“Well, we rebranded this year. That’s been a huge change and helped us better reflect our values as a company. The name ‘Rev.io’ is perfect because it notates that we’re a computerized software that’s helping companies with their revenues.”

– Alan Sellers

Q: How has Rev.io’s purpose shifted over the years?

Evan: The mission has stayed the same – to be the best billing and back-office software company and the world by providing innovative solutions and extraordinary service to our clients and end users. The software, our team, our location, our goals, and our approach have all changed over the years, but our purpose remains consistent.

Q: You just rebranded, launched a new website, and celebrated 15 years in business. What’s next for Rev.io?

Evan: We are focused on continuing to empower our clients and employees, and evolving our approach and service offering. We are pursuing this through initiatives like our newly founded Operational Leadership and soon-to-be-released RESTful API. This is going to allow us to be even more effective as we continue to scale.

Alan: Diving deeper into the exploration of the new IoT space and further developing our API to bring more integration capabilities.

Ross: Create the next generation of products for our current and future clients. We’ll also strive to continue at this increased, productive pace. I want to stay at this stride and continue to improve how we’re serving, finding, and onboarding clients so that we’re always ahead of the curve.

Want more behind-the-scenes insights with Rev.io? Meet Rev.io and learn more about our journey today!

Looking Ahead: How IoT Will Impact Business

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“The Internet of Things is giving us new and better experiences by allowing things that were not connected to work seamlessly together, making our lives more efficient in ways that were previously impossible or impractical.”

– AT&T

Back in 2014, 87% of people had never heard the phrase “Internet of Things.” Fast forward three years to a world where 6.4 billion connected devices are being used daily. From connected homes to smart cities, IoT is emerging into a soon-to-be $6 trillion industry. Although confusion surrounding the idea of IoT is fading, the mystery of how it will impact business remains.

The Internet of Things (what some are calling the next Industrial Revolution) is transforming the communications landscape and, in turn, the way service providers are conducting business. Experts forecast that there will be 34 billion devices connected to the internet by 2020 – up from the 10 billion in 2015. As IoT continues to penetrate the enterprise and consumer markets, the number of “connected things” grows, along with its implications.

Without doubt, the rise of IoT is giving business owners major growth opportunities like lower operating costs, increased productivity and the potential to expand into new markets. However, it’s also presenting new challenges that require an overhaul of fragmented systems. Without question, the internet of things future will open the doors for an array of new possibilities and demand new processes for businesses to keep up.

“The combination of telecom infrastructure and smart technologies, in my opinion is one of the great catalysts and facilitators of sustainable growth. By making things smarter, by increasing efficiency and clearing clutter, by bringing companies so much closer to their clients – it is almost without boundaries.”

– Pieter Puijpe, Head of Telecom Media and Technology at ING Commercial Banking

Higher Productivity, Improved Efficiency

As Internet of Things applications become more commonplace, businesses of all kinds will enjoy higher levels of productivity and efficiency.

In fact, Elemica, a supply chain optimization company, used IoT to help them address volume issues with suppliers. Before IoT implementation, an employee would have to to drive miles out to gas tanks, check levels, and relay the information back to the supplier. Now, the company uses IoT applications to report real-time data to the supplier, even when the tank is thousands of miles away. Their tanks are constantly filled at their optimal levels, increasing productivity and lowering cost structure dramatically. This is just one example of the potential impact of connected devices.

More Data, New Pricing Models

In the midst of a data revolution, IoT will provide a much-needed infrastructure to analyze and implement data in real time. This represents potential value for businesses ready to leverage the opportunity. All of these interconnected devices talking to each other leads to one major implication for businesses – more data.

“The real value that the Internet of Things creates is at the intersection of gathering data and leveraging it.” – Daniel Burruss

IoT technology will encourage businesses to adopt usage-based pricing models. As consumers gain increased connectivity, on-demand, pay-as-you-go pricing will become the norm. Organizations will need to adapt to usage-based pricing and all the back-office implications that come with it. Legacy systems will reveal themselves as obsolete, lacking the capabilities necessary to support new IoT products.

Increased Mobility

Mobile devices are a major disruption factor in the new IoT ecosystem. The need to manage and secure an extensive network of interconnected devices will only increase in scope and organizations will need to evolve to manage these endpoint devices while supporting this major explosion of data. IoT is centered around machine learning, humans will play an integral role in the process – especially ensuring app security. How will you keep up with and track the way devices flow between customers? Visibility will be key.

The way organization choose to address IoT could prove instrumental in protecting their ability to thrive. Are you ready? If you are in the communications industry, you may be wondering how you will manage this massive change or how you will even be able to monetize.  If you want to explore IoT billing platform solutions, we have a team of experts here to chat.

A Look Into the Future of Communications

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“It’s rare that a technology company can remain innovative years after the partnership begins…But Rev.io is always thinking ahead.” – Tom Tharrington, President of Broadsmart

For many of us, the way we communicate has evolved tremendously over the years. From landlines to mobile, snail mail to email, and face-to-face to face time, the transformation has been substantial. This disruptive technology is paving the way for new companies to develop and deliver new products and services to enhance the lives of consumers. It’s also becoming more important to pay attention to the future of technology and its impact on communications.

As personal communication transforms, the communications industry as a whole has seen some major shifts. According to Deloitte, the communications industry continues to be at “the epicenter for growth, innovation and disruption for virtually any industry.” This is because the way we connect directly impacts everything – from mobile, to wearables, to IoT, to Voice over Wi-Fi (VoWiFi) and so much more.

While it’s impossible to predict the future, here are three technologies carving a clear path to shape the future of communications:

1) Internet of Things

IoT is the ability of a device to connect, collect and exchange data with other devices. Smart products are on the rise and soon enough, consumers will wonder how they ever lived without IoT products and services. IoT has truly opened the door for companies to develop new business models and push a technological revolution to the forefront. This increased connectivity represents a major opportunity for the businesses ready and able to handle its massive backoffice implications.

2) 5G Wireless

While IoT is presenting major opportunities for growth, the internet will remain as a key component of the communication landscape. As IoT grows, stability and speed will be a key driver for internet connectivity. 5th generation mobile networks will become the next standard in the communications industry. According to The Next Generation Mobile Networks Alliance, 5G should be rolled out by 2020.

3) Streamlined Customer Management

Modern technology is changing the way businesses interact with their customers, as well as what consumers have come to expect from their service providers. From painless activation to streamlined management, new and highly accessible platforms are empowering end-users to take more control over their buying and billing experience. Whether you’re focused on client retention, winning multi-location customers or reducing churn, check out our recent whitepaper: “Is Your Billing System Ready for Modern Business?

So what does all this mean for you?

It means that in order to compete in this ever-evolving market, communications companies must make a choice: adapt or get left behind. With a mission to be the best back office company in the world, we are privileged to work alongside with leaders in the communication industry to prepare for the future. If you have questions about how Rev.io can help you stay ahead of the curve, get in touch with us.

Introducing Rev.io’s New Digital Home

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Welcome to Rev.io’s new digital home. We are thrilled that you are here.

Back in June of 2016, we started a journey that we knew would not be easy. Our platform was evolving, client base growing, and Rev.io was quickly reaching into new markets and verticals. Our 15th anniversary was fast approaching and it was becoming clear that our brand no longer supported our business.

Fast forward 7 months of exploration, inquiry, and hard work…

It’s been well worth it. Much like our platform, this website is the manifestation of our clients’ needs. There is nothing that motivates us more than helping our clients grow and truly serving as a partner, not just a vendor. Team Rev.io wants to see you reach your goals, and we believe this website will serve as a resource to help.

With the new site you can learn our story and who we are, take a deeper look at our clients and the awesome businesses we serve, go behind-the-scenes and see what inspires us, or head to our blog for a fresh stream of resources and content to help you grow your business.

We are thrilled to have an online space that better reflects our mission to serve our clients. Please consider this your home for all things billing management and client growth. If you have any questions, drop us a note at: info@rev.io.

This space is designed just for you, so please feel free to stay and explore!

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Take a 30-minute tour of the Rev.io platform and see how it can be customized to your business’s unique needs. One of our team members will reach out to schedule the call with you.