Nue released its latest update, Release 2407, at the end of August, and it brings a range of improvements across the quote-to-revenue process. Learning about these enhancements puts you in a better position to boost customer retention, drive down revenue leakage, and strengthen Nue as a central hub for your go-to-market data.

Read on to get a high-level overview of several key features, or read the full release notes.

If customers are enthusiastic about your product, renewing their subscription early can be a great way to improve retention. This is especially true if customers are interested in purchasing additional seats (or otherwise expanding scope) at the time of renewal. 

To make this process easier, Nue has introduced early renewal functionality, and the ability to upsell as part of an early renewal. With admin approval, sales teams can now renew customer subscriptions at any time. No additional work is needed because Nue automatically handles co-terming for the time gap between the early renewal and the original end date. 

To enable this feature, admins can navigate to Renewals in the Settings menu and turn on “Allow early renewals.” From there, it’s as easy for sales teams as going to the subscriptions tab in Nue’s Lifecycle Manager. Once there, sales reps can enter upsells and click “renew” on the same page for maximum convenience.

As your company grows, it will likely expand to new regions and gain larger customers — and as a consequence, invoicing becomes more difficult. Each region has its own laws and regulations, customers may have subdivisions that each have their own needs, and your company may have various subsidiaries that each need to send out their own quotes and invoices. 

Two new features in Nue make it easier to handle this complexity as you scale.

Multiple Entities
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More mature companies can now create entities within Nue, making it easier to manage larger corporate structures. Each entity corresponds to a business unit or subsidiary. Once admins give permission, users can create new entities in Nue’s Revenue Manager, and then associate those entities with the relevant accounts in Salesforce. From there, you can create quotes and invoices that are divided by entity, providing a better understanding of what customers are paying for, and helping to drive down revenue leakage.

Billing Groups

Billing Groups functionality now allows you to group a customer’s invoices based on several metrics:

• By currency, which is essential for meeting regional legal and regulatory requirements.
• By sales account, which each corresponds to a customer’s individual departments or divisions. This improves clarity with tracking revenue flows and expenses for each of those departments.
• By entity, which as mentioned above each corresponds to one of your company’s subsidiaries. Invoicing by entity helps ensure accurate accounting and reporting across your organization. And if your subsidiaries operate in regions with different laws, separate invoices are essential in meeting local tax and regulatory requirements. 

Activating this feature is as simple as searching for “Billing Groups” in Nue’s System Settings, and managing them in the corresponding menu (as seen below).

If you are adopting Nue as your quote-to-revenue platform, you may not want to move away from your existing usage metering and rating engines right away. While Nue does offer usage rating capabilities, it is also now capable of ingesting data from an external rating engine. The architecture of the Nue platform separates rating and billing services, while connecting them through a clear interface. As a result, customers can seamlessly integrate their own rating engine in place of Nue's offering if needed. 

Once you set up price tags for your products and services in Nue, the platform can handle pre-rating and order processing while your external rating engine tracks customer usage. Once Nue receives the rated usage data, it moves forward to generate invoice items and merge them into the invoices for each billing cycle. Nue can also leverage this data for comprehensive analytics and robust forecasting capabilities.

Invoice PDF and Invoice Templates

Following a preview in July, Nue has formally launched major new invoice features. You can now generate invoices as PDFs and send them via email. Invoice templates allow you to control the appearance and content of your invoices to better match customer needs.

Line Description Propagation

If sales reps write product descriptions on a quote or order, those descriptions can now carry over to the invoice. Customer-facing product names that sales reps enter in the initial quote, for example, now continue to be presented to customers through to the invoice.

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