The winter holiday season has entered full swing, and with the Place Version 1.59 release, customers are in for some holiday treats with enhancements across the entire product suite. 

Here is what you can expect in this post:

• Improved Metered Billing UX and Customer Product Usage Variance Analysis
• Better Billing and Forecasting from Opportunities with VAT Calculations
• An Improved NetSuite Integration
• Introducing *Even More* Reports and Dashboard Components

Improved Metered Billing UX and Customer Product Usage Variance Analysis

Metered billing (aka usage-based billing) is on the rise, and so are the requirements for accurate billing, forecasting, and variance analysis in usage-based business models. This release includes two enhancements for our customers with usage-based models.

First, we’ve simplified our metered billing UX to shorten the time it takes to enter customer usage data for billing in Revenue & Billing. Now, for every metered product, you can quickly enter current customer usage and view all historical usage billing data from a single screen, including the invoice status by product and billing period.

Second, customers using Forecasting & Planning alongside Revenue & Billing can now view their forecasted usage revenue and metered billing amounts next to historical actuals. This makes it easier to gauge and adjust the accuracy of forecasted customer product usage income to give you more confidence in your cash position. 

Better Billing and Forecasting from Opportunities with VAT Calculations

For Place customers who operate in the UK and Europe, it’s never been easier to include VAT in customer invoices or to forecast VAT accurately based on your team’s sales pipeline.

With this latest release, you can be confident that the VAT rules you configure will automatically flow into each customer invoice created through Revenue & Billing. Customers who enable this feature can identify tax-exempt products and set VAT percentages per product, or on a global level.

In another update for customers using Forecasting & Planning with Revenue & Billing, it’s now possible to forecast VAT based on your team’s Salesforce Sales Cloud Opportunities. This brings a new level of accuracy to your cash forecasting so you gain even greater control over your cash flow.

An Improved NetSuite Integration

We’ve made a number of improvements to Place’s integration with NetSuite’s general ledger. Our team is always working to improve the accuracy of the data available in Place, and this release provides a major leap forward for mutual customers of Place and NetSuite.

This enhancement empowers customers to quickly analyze budgets vs. actuals, with the ability to drill down to the level of individual transactions. Place automatically categorizes actuals from the general ledger into vendor and customer account sub-ledgers. 

Now, actual income and expenses from specific customers and vendors are visible beside their forecasted amounts and variances, so it’s easy to identify the source of any variance.

Introducing *Even More* Reports and Dashboard Components

Place has added 14 new reports that come along with matching dashboard components. 

Now, users of Metrics & Analytics can access nearly 200 customizable analytics dimensions to inform investors and steer the company using combined data from Place, accounting systems, and Salesforce Sales Cloud.

The latest reports and dashboard components include: Average Selling Price by Product Line, CAC (Last 6 Months), LTV:CAC Ratio (Last 6 Months), Operating Cash Burn by Quarter, and more. 

Until the Next Release…

For more information about these or any other updates, be sure to contact your Customer Success Manager! We also publish monthly product update highlights in the Product Corner section of our newsletter, so sign up for that here to get more updates in the future.