Even if you’re a master of the revenue lifecycle, managing large customers is often a challenge. Quotes and invoices can quickly become cumbersome when many subsidiaries and line items are involved.

That’s why it’s worth familiarizing yourself with Nue’s latest release, 2408. We’ve added new tools and enhancements to optimize the revenue lifecycles of your largest and most complex customers. 

Read on for a preview of three key additions.

One of Nue’s most distinctive features is the capacity to split up quotes or orders based on several criteria, such as shipping address or billing account. This allows Nue customers to separately handle order or quote components that need to be shipped to different places, billed to different accounts, or started at different times. 

You can now create orders based on sales accounts, which allows you to more easily handle the needs of large companies with subsidiaries or sales account hierarchies. For example, if a large company has billing accounts for each of its subsidiaries, you can now provide each of those subsidiaries with a different order, so they can be billed separately.

To split quotes, start by creating a standard quote. Proceed to the split lines page, and create a new bucket. You can now edit the “account” and “billing account” fields of each bucket to reflect the proper sales and/or billing accounts, respectively. Each bucket will be finalized as its own order and billed individually.

See here for more details.

A key part of Nue’s robust lifecycle management functionality is the ability to change subscription pricing, quantity, and term at any time, including in the middle of a subscription term.

The latest release adds the ability to adjust or replace Price Tags in the middle of the term, without the need to change quantity or term. In turn, you can easily adjust tiered pricing for usage-based subscriptions, apply promotional or discount changes to a subscription, or alter pricing to reflect changes in the service you provide.

Harnessing this feature is as simple as going to the Lifecycle Manager screen in the Nue platform, choosing the "Update price tag(s)" option, and selecting the start date for the changed pricing. Nue will automatically recalculate key metrics like changes in recurring revenue.

See here for more details.

In our last release, we introduced billing groups — ways to divide a large invoice into several smaller ones (based on subsidiary, currency, sales account, and other criteria). This made it easier to invoice large companies (for example, companies that have separate billing accounts for each subsidiary). 

We’ve now added the ability to create custom billing groups, so you can split up invoices based on any metric of your choice. As an example, you may want to bill a customer for their subscriptions separately from the usage-based services they use.

To set up custom billing groups, go to System Settings and search for Billing Groups. Click on the New Grouping Attribute Button to define new grouping criteria, and from there choose a BillingAsset object to indicate what is being invoiced.

See here for more details.

Enhancements to credit memo and invoice detail screens for improved collections

Our last release redesigned Nue’s credit memo list screen, and enhanced Nue’s invoice detail screen. This gave customers improved visibility into key processes while adding more granular tools to better manage the revenue journey. 

Release 2408 adds the ability for users to edit several key fields on the invoice detail screen, and gives FinOps team members access to a range of information on the credit memo details page. 

Improved RevRec by aligning credit burndown and usage with billing cycles

As more and more customers rely on usage-based subscriptions or credit burndown (two of the most common types of usage-based pricing), it’s crucial to have accurate RevRec and an efficient billing process for them. To this end, you can now align the creation of new credits in Nue to a subscription’s Bill Cycle Day, and ensure rated usage aligns with the Bill Cycle Day.

Streamlined invoice payment for Stripe users

If your Nue application is connected to a Stripe account, your customers can now pay their invoices from within the invoice notification email. A new “Pay Now” button has been added to the notification email that opens the Stripe payment page when clicked, providing a more convenient customer experience.

Not a current Nue user? Get started by requesting a demo or learning about other recent enhancements.