SteelBrick Acquires Invoice IT to Launch the Next Generation of Quote-to-Cash
Invoice IT brings 30 talented employees to expand SteelBrick’s global presence with offices in the UK and India
San Mateo, Calif. -- September 9, 2015 -- SteelBrick, the fastest-growing provider of CPQ (configure price quote) cloud applications, today announced the acquisition of Invoice IT, a leading provider of cloud software for subscription billing, revenue scheduling, and payment collection. With the acquisition, SteelBrick now offers a full suite of Quote-to-Cash applications.
The deal expands SteelBrick’s global footprint and brings more than 60 new customers to SteelBrick.
The SteelBrick Quote-to-Cash solution delivers benefits to businesses in three key areas:
● Configure Price Quote (CPQ)
Configure products and pricing, maximize cross-sell and up-sells, and deliver sales quotes quickly. The Summer ‘15 release of SteelBrick CPQ recently introduced new innovations to deliver additional flexibility that enhances the sales process and increases productivity, including custom discount schedules, multi-sign contracts, dynamic terms and conditions and smart-guided selling.
● Propose and Contract
Automate add-on orders and quickly generate proposals, contracts and renewals.
● Bill and Collect
With the integration of Invoice IT’s platform, SteelBrick customers can easily process orders, invoices and payments, and recognize revenue promptly. In addition, the SteelBrick Billing app can manage revenue and billing for subscriptions, one-time billing, and usage-based billing scenarios.
Quote-to-cash applications have become a rapidly growing addition to the sales and finance technology stack for many businesses. Modern CPQ apps enhance the process and employee experience for sales teams, enabling reps to spend less time developing quotes, proposals and contracts, and more time actually selling and driving customer engagement. Billing apps generate and schedule invoices, automate collection, and then reconcile with finance and accounting systems to enable users to monitor and report on all activities from quote to cash.
“SteelBrick and Invoice IT share a common focus on delivering best-of-breed software that accelerates success for our customers,” said Godard Abel, SteelBrick CEO. “With the acquisition, we gain the experience and expertise of the full Invoice IT team that has successfully delivered billing solutions to more than 60 happy customers. It’s an ideal match for SteelBrick’s 250 customers, enabling us to provide a true next generation quote-to-cash solution to customers worldwide.”
SteelBrick provides Next Generation Quote-to-Cash apps that are fast and easy to deploy. The company’s SaaS solutions are built 100 percent native on the Salesforce platform and enable sales reps and partners to create accurate sales quotes quickly and submit orders on the fly from any desktop or mobile device, as well as generate proposals, contracts and invoices, and manage revenue recognition. SteelBrick powers sales for more than 250 high-growth customers including Cloudera, Nimble Storage, HootSuite and Marketo. The company is backed by $30M in capital from leading cloud investors Salesforce Ventures, Shasta Ventures and Emergence Capital. The company was named as one of the fastest growing private companies in America in the 2015 Inc. 5000. For more, go to www.steelbrick.com.
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