For an inaugural inclusion in the Agile Billing Top 50 Buyer’s Guide, by MGI Research, charting the top 50 leading agile billing software suppliers, Evergent didn’t do too shabby. Among the top five in overall ratings, Evergent earned high marks for financial model, topline growth and client retention and was among a select few rated highly in key measurements of go-to-market and solution strengths.
But first, a few particulars.
What Is the MGI 360 Rating System?
MGI Research has earned industry-wide recognition as the preeminent independent analyst and research firm focusing on Agile Monetization and order-to-cash. As defined by MGI, the Agile Billing Top 50 Buyer’s Guide entry in its MGI 360™ Ratings program, “evaluates, analyzes and scores the Top 50 leading Agile Billing software suppliers, as well as strategy and product selection recommendations for organizations evaluating providers in this market. The report provides MGI 360™ scores of 35 leading suppliers using a quantitative rating (0 to 100) and a qualitative analyst outlook (Positive, Neutral or Negative), as well as 15 ‘honorable mention’ companies who are noteworthy suppliers, but do not yet merit an official MGI 360 Rating™.”
How are Featured Suppliers Ranked?
In evaluating an agile billing solution, MGI considers several features.
- Inherent agility in design, implementation, and operation
- Modern and intuitive user experience
- The ability for users to configure pricing, catalog, offerings, etc. without any IT involvement
The firm then divides data into four MarketLens™ diagrams:
- Go-to-Market Strength vs. Solution Strength: Comparing a supplier’s functional breadth and depth with its actual market strength. How effectively has the supplier brought its product to market, scaled up adoption, and increased its customer base?
- Agility vs. Complexity: Does a billing product’s agility hold out in complex billing scenarios?
- Agility vs. Volume: And can it maintain that agility through high-volume scenarios?
- Complexity vs. Volume: Similarly, does the product’s aptitude for complex billing scenarios withstand high volumes of transactions?
And…..Drumroll Please….Where Does All This Place Evergent?
Evergent was in the top five in overall rankings, one of only six suppliers to receive a positive analyst outlook and one of only 11 suppliers residing in the leading quadrant in all four MarketLens™ categories. Our solution earned a score of 60, compared to the peer average of 54. MGI highlighted a few other areas where Evergent excels:
- Finance: score of 71%, well above the peer average of 50%
- Product: score of 61%, above the peer average of 56%
- Strategy: score of 58%, above the peer average of 55%
According to MGI:
“Evergent has demonstrated high agility and capability to scale on volume. There are numerous customer proof points of rapidly modeling and implementing complex use case scenarios at scale – with tens of millions of subscribers.”
The report makes special note of the solution’s ease of implementation and the Evergent team’s deep experience “deploying monetization across a range of volumes and business model complexities,” highlighting our ‘sweet spot’ as “above-average volume/complexity and medium-to-high agility requirements.”
While honored at the recognition, we’re not surprised. We recognize the degree of difficulty involved and take great pride in every customer's success. It’s evident they do as well, as we consistently hear the following from our customers:
“Migrating a billing system is a lot like open heart surgery. It’s not something you can ever take lightly”
What to Consider When Shopping for a New Billing Solution
MGI offers the following recommendations to the report’s target audience, those eagerly shopping for a billing solution:
- Shop the specific use cases rather than features.
- Shop for the future: don’t underestimate the need for billing complexity as your business grows
- Look for a strong mediation engine—dirty data is the downfall of sophisticated billing.
- Don’t skimp on support, but invest in the highest level you can. It will pay off over time.
- Consider pricing and fee structure as part of the evaluation process, not an afterthought.
- Consider a smaller, more focused vendor. They often offer better service and be more innovative than mega-vendors.
- Your tech has to play well together. Look for strong integration capabilities in any platform you consider.
At Evergent, it’s always about understanding our customers, their needs and their challenges. Customers choose Evergent because they see a future with us. We are proud of this recognition from one of our industry’s leading analyst firms, and will continue to evolve our product while focusing on remaining in that ‘upper quadrant.’
To learn more about the Evergent suite of products and how we can solve and support your billing needs and help you grow your business, we suggest you request a demo today.