Vindicia, a provider of SaaS (News - Alert) billing solutions that help digital leaders optimize customer retention and acquisition through integrated marketing best practices, has launched its new CashBox Billing solution with better invoicing and hierarchical billing to support digital merchants in the enterprise software, Software as a Service (SaaS) and B2B markets.

Officials with Vindicia said that SaaS CashBox billing solution already optimizes customer retention and acquisition, generating US$50 million in annual incremental revenue for its customers.

Company officials said that its success to date has been with digital merchants using CashBox to optimise “pre-pay” models, where customers pay in advance of using a service.

The new capabilities, company officials pointed out, extend the benefits of the CashBox solution to “post-pay” models, where customers typically pay for a service after they have used it.

The new version of CashBox enables merchants to present an aggregated, itemized invoice to customers and enable its payment.

It also enables pro-rated billing for billing or crediting partial charges to customers who join mid-billing cycle or request a refund for an unused portion of services during a billing cycle.

“CashBox has helped dozens of digital merchants increase customer lifetime value, recover lost revenue and improve their customer relationship management. This new version enables us to expand the reach of CashBox in the subscription-based SaaS and enterprise software markets, offering customer retention benefits to a company’s existing marketing and billing processes,” said Gene Hoffman (News - Alert), CEO and chairman of Vindicia, in a statement.

“As a result, digital merchants achieve the same top and bottom line benefits from leveraging billing as a strategic marketing asset, rather than viewing it simply as an operational and administrative function,” said Hoffman.

Analyst and founder of Diversity Limited, Ben Kepes said that organizations of all kinds are recognizing the advantages of outsourcing to an SaaS model including near-instant provisioning, quick and easy integration, the ability to push upgrades to an entire customer base and inherent customisation capabilities.

“The features and functionality in the new version of CashBox bring these advantages to digital merchants using billing configurations typical in the SaaS model,” said Kepes.

In March, TMCnet reported that the need for a comprehensive billing system is recognized by many online merchants today. For a very long time, Vindicia has been helping these digital merchants optimize customer retention and customer acquisition.