Customer Highlights
How Greenlite Enabled Usage-Based Billing With Commitments on Maple
We have been working closely with the team at Greenlite, an AI-driven platform that automates repetitive financial compliance tasks, enabling financial institutions to scale their operations with enhanced efficiency.
Through a seamless integration with Maple, Greenlite migrated from Stripe to enable minimum commitments in their usage-based plans. They also benefited from reduced percentage of revenue fees for billing and streamlined quote-to-cash (QTC) for their deals.
Challenge
Greenlite's core features such as screening and transaction monitoring required a usage-based billing model. Initially, they manually reported this to their customers. However, as they acquired more customers, they quickly realized the need to scale their billing processes.
They turned to Stripe to implement usage-based billing, but Stripe's capabilities fell short in supporting the tracking of minimum commitments alongside the usage components of their plans. This limitation forced them to manage separate subscriptions for minimums, resulting in multiple invoices and customer billing confusion.
Additionally, Greenlite sought to streamline their sales operations with robust support for spinning up contracts with usage-based plans with minimum commitments, including deal approvals and seamless downstream invoicing.
Solution
Recognizing the challenge, Greenlite leveraged the Stripe sync capability to quickly import their existing customers and subscriptions into Maple. They began sending in usage events and previous usage from Stripe was quickly back-filled into Maple. Greenlite was up and ready to start invoicing on Maple in a week.
"We quickly had support for minimum commitments for usage-based plans along with a quick contract flow to turn deals into recurring invoices without manual intervention."
Results
Through partnership with Maple, Greenlite quickly improved their usage-tracking along with other revenue processes.
- Flexible usage-based billing: With real-time tracking and automated invoicing based on customer usage in Maple, Greenlite's team went from worrying about the implementation of usage-based billing infrastructure to focusing on their core product offering.
- Out-of-the-box reporting: Greenlite can observe their usage patterns and enable the same visibility for their customers as well.
- Streamlined QTC: Greenlite can automate their contract-based sales process such as sending out quotes especially with usage-based plans, getting signatures and collecting on outstanding invoices or retrying failed payments.
Conclusion
With usage-based billing now fully automated, Greenlite can focus on expanding their core features and improving customer experiences. They not only addressed their immediate billing needs but also positioned themselves for sustained pricing iterations in the future without heavy engineering lift.
Learn more about how Maple can help you build nuanced usage-based billing capabilities for your product.