IoT, according to goTransverse, is all about processing and monetizing usage data, and is already having a significant impact on the creation of new products and services across a number of verticals, including telecom, transport/fleet management, utilities, industrial, healthcare and so on. Hence, the challenges faced by companies looking forward to an IoT integration always lie in rapid and dynamic provisioning of devices, usage or ‘consumption’ based billing, analytics, decisioning and actionability on data, customer communication and self-service, and support of new business models to react quickly to the market.
Leading-edge companies rely on goTransverse for their product and services offerings. The TRACT platform developed by the company supports the monetization of one-time, recurring/subscription, and usage-based offerings with near real-time metering, rating and native revenue recognition. This has enabled these companies to benefit from the advantages of top-line revenue growth, faster time-to-market, visibility into revenue streams and operational savings. Some of the clientele that goTransverse has had over the years include Cvent, Starz Play, LiveU and Hemisphere.
Hemisphere, a global leader in the design and manufacturing of high-performance satellite positioning products (Global Navigation Satellite Systems, or GNSS) wanted to take the market by storm by introducing its correction signals via L-Band satellites or over the Internet at accuracies ranging from meter to sub-decimeter levels as a subscription and pay-as-you-consume model. In order to undertake this, an innovative platform was required – TRACT was the answer.
There are several key factors that set goTransverse apart from its competitors. The deep expertise that runs within the organization, 175+ years of enterprise billing expertise to be precise, is one of the most important factors that have helped the company stay ahead of its game. Apart from that, core functionality-wise, TRACT is the only multi-tenant SaaS platform on the market today that can rate events in near real-time. The rating engine allows for dynamic charging for any combination of one-time, recurring/subscription and usage-based offerings.
TRACT has an industry-leading robust product catalog that has helped fight product proliferation and having to create new and unique products in the billing system for each variation of the offering, like billing schedule, payment type, etc. The native architecture also facilitates the ability to move business internationally at scale. TRACT is architected for innovation using a best-in-its-class, RESTful services approach. This has allowed the company to plug in new and interesting technologies as they reach a level of maturity it is comfortable with.
As for the road ahead, the company has several plans up its sleeves to continue its successful run that it has had over the years. The company believes that its success falls directly on the talent that it houses, and hence will continue to focus on attracting and retaining top talent, including industry leading enterprise billing domain expertise and continuing to build on its strong partner channel. A strong ecosystem of referral partners, resellers and system integrators guided by goTransverse’s deep domain experience is expected to accelerate customer acquisition rates while keeping them happy at the same time. Since IoT is a big market opportunity, a clear focus on IoT markets is essential. Companies look to maximize their top-line revenue through connectivity, and hence it requires back offices to be very flexible and smartly architected to support future growth. goTransverse also aims to continuously develop the platform itself around flexibility, usability and extendibility.