Ibexa was managing their subscription processes with manual spreadsheets, resulting in errors, duplicated effort, and cumbersome workflows.
Since 1999, Ibexa has provided developers, editors, and marketers around the globe with an open content management platform for website and app creation that delivers optimal customer experiences. They offer clients a variety of flexible, innovative platforms and services that can be adapted and customized to meet their unique content management needs. With 70 employees, they work with clients all over the world—including organizations like Whirlpool, The Economist, and SwissLife Banque.
A little internet research led Ibexa to Binary Stream, and so a partnership was born. After sitting down to discuss the challenges they were facing, it was apparent that they required a system that would allow them to maximize flexibility and efficiency. With many clients, each with unique subscription billing demands, and after investing in the complex switch to a new accounting system—Dynamics 365 Finance—Ibexa was still hamstrung by their outmoded billing system.
It was clear they needed flexible content management solutions to meet their many clients’ diverse needs,
and that their subscription billing needs were not one-size-fits-all. The company’s growth was being
hindered by an inefficient, inflexible manual spreadsheet contract system.
As a well-established content management provider, facing a few start-up hiccups and looking to grow, Norway’s Ibexa needed to dispense with cumbersome, error-prone spreadsheets and find a subscription billing solution that could seamlessly integrate with their Microsoft Dynamics 365 Operations (previously AX) accounting system.
CFO, Eivind Hesjadalen, found that that different teams were sometimes working in different versions of the same spreadsheets. Rather than tinker to improve a broken system, Hesjadalen decided it was time for a big change. He was ready to take the company on a great leap forward— “from start-up to scale-up.”
To make it happen, Hesjadalen needed a scalable subscription billing solution that could manage the personalized contracts required to meet the individual needs of their clients. To extract maximum value from their new accounting system, they needed a subscription billing solution that could easily adapt to their needs and work seamlessly with Dynamics 365.
Ibexa found a willing partner and collaborator in Binary Stream. As they get readyto fully roll out Binary Stream’s Revenue & Expense Deferrals and Contract Billing solutions (ARED & ARCB), Ibexa looks forward to a streamlined, automated process of inputting new customer contract information. Then, the finance team will be able to send invoices, create deferral schedules, and ensure automatic renewal—all with the push of a button.
In a company where no two customers are alike, this automated, scalable solution will be invaluable for scaling the business. Icing on the cake? From a user experience perspective, working in Binary Stream’s Subscription Billing solution feels no different than working in Dynamics 365.
Though they’re not yet able to quantify the time savings Binary Stream will afford, Hesjadalen is confident that the ARED & ARCB solutions “will free a lot of resources that we can use to develop and grow the company.”
ASC 606 and IFRS15, which standardize the way companies recognize revenue from customer contracts for organizations around the world, went into effect in 2019 for public entities, and its impact is being felt by companies worldwide. Transitioning to ASC 606/IFSR 15 compliance can involve changes at every level of a company—a process that can be overwhelming—but Ibexa had an advantage as Binary Stream’s Subscription Billing software enables effortless compliance with the new revenue recognition Ibexa is taking their clients into the future, and with crucial support from Binary Stream’s flexible, efficient, scalable billing solutions. The sky’s the limit for Ibexa’s dynamic, growing enterprise.