Aria Systems, the leader in helping enterprises grow subscription and usage-based revenue, today announced the launch of Aria Marketplace Suite, an extension to the Aria billing and monetization platform that enables B2B and B2C marketplace providers to streamline their digital marketplace operations. The suite builds on Aria’s best-of-breed billing platform by providing an easy onboarding experience for partners/suppliers, a comprehensive set of product and revenue management tools for marketplace operators, and a seamless billing and payments experience for end customers.
With the continued acceleration of digital commerce and the growth of usage-based subscription services in both B2B and B2C businesses, many consumers and enterprises are looking for one-stop-shops to better manage their recurring digital services. Aria’s solution gives marketplace providers the tools they need to introduce and manage new subscription products and bundles for their end customers while providing transparency and frictionless channels for third-party service providers.
“Creating the back office process to efficiently monetize subscription-based multi-partner marketplaces has typically been a custom solution, resulting in a learn-as-you-go project which is hard to modify, especially after the team who made it moves on,” said Mark Thomason, Research Director for Digital Business Models and Monetization at IDC. “Aria Marketplace Suite addresses this challenge and accelerates marketplace innovation by combining the critical partner management capabilities with the life-cycle management functionality required to sell and manage subscription services.”
Aria Marketplace Suite orchestrates the activities between marketplace providers and their partners, resulting in higher recurring revenue with end customers. It consists of the following five primary components, all of which were built using Aria’s native platform extensibility, so they can be tailored easily to fit the specific needs of any marketplace:
- Partner Portal: Provides partners with a self-service capability to introduce new products, manage monetization models, access buyer history, view billing and payment status, and more.
- Product Catalog Approval Engine: Enables marketplace providers to define product approval processes and notify partners of product status.
- Revenue Share Calculator: Calculates remittance based on revenue share agreements between marketplace providers and partners, generates financial transaction reports and integrates with financial systems.
- Partner Purchase Notifications: Orchestrates communications between partners and marketplace providers related to provisioning, entitlement and fulfillment of products and services, as well as automatically revoking access for subscription services when future payments fail.
- Usage Processing: For usage-based products and services, ingests data directly from the marketplace’s partners and calculates invoices based on consumption levels and pricing parameters, driving notifications on limits or other parameters established by the partner.
“Aria‘s Marketplace solution provides the key capabilities that marketplace providers require to monetize and grow their own product portfolios as well as manage relationships with their back-end partners. This includes onboarding, product catalog management, provisioning, purchase notification and complete transaction history,” said Tom Dibble, President and CEO, Aria Systems. “Legacy e-commerce platforms typically support one-time transactions, while Aria’s platform has the flexibility and functionality required to offer subscriptions and product bundles tailored to end-customer preferences, generating sticky recurring relationships.”
About Aria Systems:
Aria Systems’ cloud-agnostic monetization platform is the analysts’ choice, top ranked by leading research firms. Innovative enterprises like Adobe, Allstate, Comcast, Subaru and Telstra depend on Aria to accelerate time to market and increase flexibility, enabling them to maximize customer value and grow recurring revenue through subscription and usage-based offerings. For more information, visit www.ariasystems.com.