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Tuesday, Jun 18th

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MGI 360 Ratings: Chargify in Billing Management JUNE 30 2017

MGI 360 LogoIRATING UPDATEWe upgrade the MGI 360 Rating of Chargify in the Agile Billing market from 48 to 50 and maintain a Neutral outlook. 
OPINIONThe increase in rating reflects a new, more seasoned management team and a stronger focus on sales and strategy. Acquired by an investor group in 2016, Chargify is undergoing a complete overhaul. Previously run as a virtual business, today operations (sales, marketing, engineering, support) are centered in San Antonio, TX. New management is aiming at B2C and B2B customers with integrations including Quickbooks Online and Salesforce available now and an update for Xero in the works. The company has consistently executed through considerable internal change and extension of the product footprint. A gap in market perception of Chargify product and its true capabilities remains. Sales and marketing are still a work-in-progress. Execution should see further gains as new team and processes settle in. 
Rating details and benchmark vs peer group is in the research report attached below.
USE CASESMBs with or without IT resources that need a billing, dunning, reporting capability for low to medium complexity recurring revenue
COMPANY DESCRIPTIONChargify is a rapidly maturing provider of agile billing. The customer base is a mix of subscription and “as a service” emerging growth companies and traditional small-midsize companies that require subscription billing. It also has sold into a handful of large companies on a project/business unit/divisional basis.
COMPETITORSChargeBee, Chargeover, Fusebill, NetSuite-Oracle, Recurly, Zuora
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.
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