Chargebee Named a Leader In 2024 Gartner® Magic Quadrant™ for Recurring Billing Applications

August 9, 2024 — Chargebee, a leading and innovative provider of solutions in the subscription and revenue growth management industry, today announced that it has been positioned by Gartner as a Leader in the first-ever Magic Quadrant for Recurring Billing Applications. The evaluation was based on specific criteria that analyzed the company’s overall Completeness of Vision and Ability to Execute.

Your partner in enabling agile growth

The subscription and recurring revenue industry is at a transformative stage, as companies seek out efficient growth strategies to build predictable, sustainable businesses amidst rapidly changing market conditions. Enabling agile growth for our customers takes more than just great technology — it requires a deep understanding of business strategy along with the ability to experiment, learn, and implement quickly for competitive advantage. Core to our founding principles, we bring a spirit of partnership to every customer engagement at Chargebee.

Recurring Billing Applications, defined

The August 2024 Gartner Magic Quadrant for Recurring Billing Applications is the first of its kind. In it, Gartner defines a recurring billing application as one that “enables organizations to bill customers for one-time, subscription-based and usage-based fees for goods and services.” The report lists a number of mandatory and common features, including the ability to ingest orders and service contracts, ingest usage data, rate it and generate usage charges, integrate received revenue with a general ledger system, and predict and prevent customer churn.

We at Chargebee embrace Gartner’s definition of the Recurring Billing Applications space. In our work serving thousands of recurring revenue businesses around the world, we see that companies across industries and business models — from AI startups to B2B SaaS and services pioneers to consumer behemoths — are all revolutionizing their offerings to meet the changing expectations of today’s buyers: flexibility, choice, simplicity, and value.

The new demands we see from customers underscore the ongoing transformation of our market — from enabling flexible, automated billing operations to empowering revenue growth innovation through the full customer lifecycle, across B2B and B2C industries. To achieve predictable, sustainable growth, companies are innovating efficient subscriber acquisition and retention strategies that span sales, growth, usage-based pricing, and hybrid models. Our merchants are embracing AI to improve performance and reduce costs, building predictive models to improve the customer experience and grow lifetime value, and leveraging automation to scale financial operations around GTM complexity. 

Today’s B2B and B2C trend setters are seeking a partner with the technology and experience to enable their growth — and Chargebee is on a mission to unlock the potential in every recurring revenue business.

We believe the best recurring billing applications should support a diverse set of models, from self-service B2C subscriptions to data and AI-based B2B business models — as well as sales-led quote-to-cash models — while streamlining implementations and being easy to use. Usability and extensibility are also essential elements of a recurring billing application, which is why at Chargebee, we are all about empowering the business user while also supporting developers and administrators with critical controls needed to maintain compliance. 

A dynamic time in a dynamic industry

Earlier this year, Chargebee published the 2024 State of Subscriptions & Revenue Growth Report, based on a survey of 318 subscription professionals from companies with 50+ employees and an Annual Recurring Revenue exceeding $5 million conducted with Centiment. 

Key findings from the report included that a staggering 96% of surveyed industry leaders anticipated substantial growth in subscription revenue for 2024, and approximately 73% of subscription services are preparing to adjust their pricing frameworks, signaling potential shifts in user acquisition and retention dynamics. Finally, with a renewed focus on customer retention, subscription businesses are prioritizing sustainable engagement practices to foster lasting relationships with their clientele.

Watch the on-demand webinar for the key findings and access the full report by visiting this link.

About Gartner Magic Quadrant Reports

Magic Quadrant reports are a culmination of rigorous, fact-based research in specific markets, providing a wide-angle view of the relative positions of providers in markets where growth is high and provider differentiation is distinct. Providers are positioned into four quadrants: Leaders, Challengers, Visionaries, and Niche Players. The research enables you to get the most from market analysis in alignment with your unique business and technology needs.

View a complimentary copy of the Magic Quadrant report to learn more about Chargebee’s strengths and cautions, among other provider offerings, at this link.