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Saturday, May 30th

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MGI 360 Ratings - Aria Systems April 30 2014 Billing Management Systems

We are increasing our MGI 360 Rating of billing software supplier Aria Systems to 59 and re-iterating a POSITIVE outlook. Detailed components of the rating are available in the attachment below.

Since our initial rating in April of 2013, Aria has made substantial progress in gaining and implementing new customers, focusing its sales and marketing effort on larger enterprise accounts with complex billing requirements, opening up an EU outpost and building up its management team, sales and marketing organizations. Late in 2013 the company raised a $40Mil Series D round of venture financing that will primarily be invested into much needed expansion of sales and marketing. Company has been shifting its focus to enterprises above $100Million in revenue where its core billing product and workflow orchestration capabilities fit in best for customers that need numerous integration touch points and where automation of integration is important. We see Aria pricing model (platform+volume), product packaging and its ecosystem continuing to evolve as the company is trying to firm up a defensible market position.

Background:

Aria Systems provides subscription based billing solutions to midsize and large organizations via a direct sales channel in the US and an emerging sales channel in Europe. It has over 100 customers, and has raised over $81 million in funding from recognized venture capital firms. It offers multiple deployment options - multi-tenant SaaS, hosted, and an on-premise managed appliance. Customer satisfaction is high, in part due to the flexibility of Aria's solution and the company's focus on customer success with no shelfware. Aria has about 140 employees of which 15-20% are focused on sales and marketing.

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 140 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 sytem 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.

 

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