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MGI 360 Rating - Chargeover OCT 3 2016 Billing Management Systems

INITIAL RATING:

We initiate coverage of Chargeover in the Billing Management market with an MGI 360 Rating of 50 and a Neutral outlook.

 

OPINION:

Functional breadth/depth, attractive pricing approach, and customer-centric support have accelerated growth off a small base and placed ChargeOver among the top three simple subscription billing solutions for tier 3 (i.e., SMB) projects. Intense focus on a narrow but large market segment has enabled Chargeover to deliver a functionally rich solution. The Finance score is above average reflecting high growth, a clean balance sheet and high customer retention. Scaling the business and building channels are the challenges, particularly in light of recent funding and management changes among its primary competitors.

USE CASE:

The best use case for Chargeover is a $500k-$25 million B2B subscription billing project with moderate complexity. Quickbooks and Xero customers who require agile billing functionality at an affordable price should consider Chargeover.

COMPANY BACKGROUND:

Founded in 2011, Minneapolis, MN-based Chargeover focuses on the recurring billing requirements of SMB organizations. The company offers a cloud-based solution for subscription billing that emphasizes a balance of functionality and simplicity of use. The company is self-funded and self-sufficient with high levels of both retention and top-line growth. 

COMPETITORS:
ChargeBee, Chargify, CheddarGetter, Fusebill, Recurly and a handful of low-end subscription-billing solutions
 
ABOUT MGI 360 RATINGS:
MGI 360 Ratings is a comprehensive system for evaluating technology companies. IT organizations use MGI 360 to track suppliers, assess purchasing risks and identify promising new vendors. Vendors utilize MGI 360 to track their markets and evaluate partners. Institutional Investors use MGI 360 for independent assessment of tech companies. MGI 360 ratings help lower costs, save time, reduce risks, and identify new opportunities. 
The MGI 360 ratings are on a scale from 0 to 100 and reflect company opinions of MGI analysts in five key areas on a scale of 0 to 20: 
  • PRODUCT: How strong is the product competitive position 
  • MANAGEMENT: How competent and experienced is the management team 
  • CHANNELS: Does the company have a sales capability and channels needed to bring products to market 
  • STRATEGY: Does the company have a realistic view of the opportunity and a compelling strategy for success 
  • FINANCE: Is the company growing and profitable. 
Each of these key criteria is subdivided into numerous sub-categories. In total, over 149 criteria are combined to generate an MGI 360 rating in each specific market space. Companies can have one or more MGI 360 rating - one for each market. MGI 360 ratings are revised as important developments occur. While the MGI 360 rating process is comprehensive, this scoring system is not meant to be a predictor of company solvency, liquidity, absence of accounting fraud or stock performance. Access to MGI 360 Ratings is by subscription. 
 
ABOUT MGI RESEARCH:
MGI Research is an independent industry research and advisory firm focused on disruptive trends in the technology industry. Through subscription research, advisory engagements, industry studies and ratings, MGI Research helps clients identify opportunities for reducing IT costs and minimize technology risks. MGI Research analysts work closely with user organizations to create practical strategies for new technology initiatives such as mobile, virtualization, SaaS and cloud computing and make timely go/no-go IT investment decisions.
 
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