Twitter Invests in Revstream Platform for Billing, Revenue Management on a Global Scale
Looking to improve on its monetization efforts, the social media giant Twitter recently implemented a sophisticated revenue management platform from Revstream, Inc.
With over 140 million subscribers, the celebrated microblogging site has a soaring business that shows no sign of slowing down. Businesses using Twitter for their advertising needs also have high expectations from the site’s monetary potential.
It is under this backdrop that Twitter implemented Revstream’s Billing and Revenue Management platform. Along with Oracle E-Business suit, the solution is expected to provide Twitter with a complete set of scalable and flexible tools to manage its growing business.
Revstream’s advanced, enterprise-grade revenue and billing solutions have been designed to automate and integrate revenue recognition (ASC (News - Alert) 2009-13 and 14, formerly EITF 08-1 and 09-3), fair value management and billing management. This robust and highly configurable solution processes over $25 billion in revenues annually, according to a recent statement.
Revstream efficiently integrates with multiple CRM and ERP systems to meet demanding customer requirements in the high-tech, digital media, SaaS (News - Alert) and gaming and entertainment industries.
“Revstream’s platform enables Twitter to accelerate our billing cycle and improve our global revenue recognition process. With Revstream, our process is improving in both efficiency and accuracy,” said Shanice Ma, firector of Revenue at Twitter.
“An explosive global business like Twitter presents sophisticated challenges for Finance teams in both revenue and billing management,” said Mark Aubin, Revstream’s chief product architect. “Twitter’s volume, frequency and variation of ad products require very robust billing and revenue management functionality. We designed the Revstream Suite to handle the unique operational challenges faced by a wide variety of companies with ad-based revenue models.”
TechCrunch Disrupt SF announced that Twitter cofounders Biz Stone and Evan Williams (News - Alert) will join the lineup of influential speakers for this year's conference. Spanning a variety of industries, the caliber of speakers reaffirms the event's mission of providing a worthwhile and compelling forum to connect early-stage startups and leaders in the technology community during the annual show on August 24.
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Edited by Braden Becker