- Introduced Multi-Attribute Rating
- Invoice Template Updates
Event-driven architectures are crucial for enabling real-time, personalized product experiences and we believe they are the future of modern B2B SaaS applications. For organizations that are already events-based, we’ve introduced a simpler method to send data to Chargify via our Kafka Inbound Cluster. From there, you can use this data to build complex, value-based pricing models which charge your customers for exactly what they use—linking the value you provide to the invoice they receive.
For more information on streaming data from Kafka-based event pipelines to Chargify for Events-Based Billing, see our documentation here>
Charging based on value is something we believe strongly in and are excited to announce that you can get even more granular with how you price and bill based on events. Previously, it was possible to bill on events and then vary the price based on 2 additional pieces of data (or attributes). This has now been updated to 4.
For example, if you were billing based on messages sent through your platform, you could track "origin", "destination", "message type", and "data size" in addition to configuring different rates for every permutation of those attributes.
Try Events-Based Billing today and see for yourself the sophisticated granularity you can achieve with it. For more information on Events-Based Billing, see our documentation here>
For more information on our Events-Based Billing, see our documentation here>
In a global economy it is more important than ever to price and sell your products and services in ways your customers want to buy. To support you in this effort, we have introduced enhanced multi-currency support for our Events-Based Billing. This means you can now define your multi-attribute pricing in any currency. An example of this for a Marketing SMS Company is charging $0.10 for a US based customer sending messages to the UK and £0.046 for a UK based company sending the same messages.
To learn more about Multi-Currency support, see our documentation >
It is now possible to bill for consumption of your service at different rates based on the attributes in your events data. Multi-Attribute Rating allows you to dynamically create segments from your events and define targeted pricing for each segment, leading to increased price flexibility and invoice clarity while preventing catalog bloat.
Consumption-based services face unique pricing challenges around rating access to their service. Both the cost to the provider and the value to the consumer vary depending on many factors. Powerful compute servers cost more than standard ones. Text messages and phone calls to France cost more than ones to the United States. Historically, providers have needed to track these factors on their side and map them to a bloated pricing catalog on the billing system side. But now, with Chargify's Multi-Attribute Rating, providers simply tag their event data with these factors and define multiple rates — as many as needed — for their combinations of attributes. Chargify does the rest - we select the appropriate rate for every event and produce an invoice that is concise, accurate, and easy to read.
Imagine a ‘Cloud Server’ company that offers multiple sizes of servers to their customers. Each server is billed based on the hourly consumption, with higher rates for the larger servers. Previously, to charge for each size server at its own rate, Cloud Serve would need to create multiple components (one for each size) and report usage separately for each size. With Multi-Attribute Rating, Cloud Serve creates a single Events-Based Component, based on the ‘Server Hours’ data stream and metric, and varies the price based on the ‘Server Size’ attribute. Taking it a step further, Cloud Serve can even vary the price based on another attribute, such as location, time of day used, day of week used, etc. For example, a server in the EU may cost more than a server of the same size in the US. This is configured by simply adding a new rate for the attribute combination and not by creating a component for every size and location pair.
With Multi-Attribute Rating, your flexibility of rating based on the true value your product provides is even easier. You can now provide very specific pricing, varying on attributes, while maintaining a consistent and easy-to-manage product catalog.
With this very powerful pricing model, it is equally as important to ensure your customers understand their invoices. When Multi-Attribute Based charges are included on an invoice, the invoice template has been updated to clearly outline how your customers are being charged and the value you are providing. A new “Usage Details” section will appear at the bottom of the invoice, clearly detailing both the amount consumed and the unique price for each applied rate. Your customers will clearly see what they were charged and why, even in complex billing scenarios.
To learn how to start using Multi-Attribute based rating, please contact Chargify Support your your Customer Success Manager.