What is cloud payment, billing and finance?

Successful applicants will demonstrate a leveraging of cloud technologies and FinTechs for scalable, reliable solutions across revenue generation activities.

Cloud payment, billing, and finance refers to the use of cloud-based FinTechs and solutions to handle payment processing, billing, and financial management activities for businesses. It involves leveraging cloud computing infrastructure, software, and services to streamline and automate various financial processes, including invoicing, payment collection, expense management, and financial reporting.

Cloud payment solutions enable businesses to securely accept various payment methods, such as credit cards, digital wallets, and bank transfers, through online platforms or mobile applications. These solutions often integrate with payment gateways and financial institutions to facilitate secure and efficient transactions.

Cloud billing platforms should provide businesses with the ability to generate accurate and timely invoices, track billing cycles, and manage customer accounts. These systems often offer flexible pricing models, customizable billing rules, and automated invoice delivery to streamline the billing process and improve cash flow management.

Cloud finance solutions encompass a range of financial management tools and applications that help businesses track and analyze their financial data. These solutions may include:

  • Budgeting and forecasting tools
  • Expense management systems
  • Financial reporting and analytics platforms
  • Integration with accounting software

By leveraging cloud-based finance solutions, businesses can gain real-time visibility into their financial performance, make informed decisions, and improve overall financial efficiency.

Overall, cloud payment, billing, and finance solutions provide businesses with scalable, secure, and cost-effective alternatives to traditional on-premises systems. They offer flexibility, accessibility, and automation, enabling organizations to streamline financial processes, enhance customer experience, and drive financial growth.

Previous recognition for Best Cloud Payment, Billing or Finance Solution

For a broader understanding of this Cloud Awards category, we have gathered examples from previous winners, finalists, and shortlistees which impressed the judging team with their innovative cloud payment, billing or finance solutions.

Winner of The Cloud Awards 2022-2023 for the Best Cloud Payment, Billing or Finance Solution

Lead Judge Christopher Southall said:

Recurly are a wellestablished Cloud Payment, Finance, and Billing Solution… and they are very good at what they do! What they do is deliver industry-leading recurrent billing solutions, suitable for a business of any size. The solution is simple to use, very reliable, and packs a punch with great analytics! At The Cloud Awards, we think any business with a need for a subscription-based billing model should consider Recurly. Congratulations, Recurly! 

Winner of The Cloud Awards 2021-2022 for the Best Cloud Payment, Billing or Finance Solution

Lead Judge Christopher Southall, said:

“The Cloud Awards are pleased to recognize BioCatch for their impressive dedication to tackling issues of fraud prevention in banking transactions.  

BioCatch’s unique look at user typing speed, swipe patterns and tapping pressure takes fraud detection to the next level. BioCatch has fantastic USP and industry leading fraud detection capabilities.  

Companies and customers alike would see a benefit from implementing BioCatch. When fraudulent activity is reduced, businesses save time and money, and their customers remain safe and feel assured that their data is secure. Keep up the good work, BioCatch!” 

Finalist of The Cloud Awards 2022-2023 for the Best Cloud Payment, Billing or Finance Solution
Vic.ai’s cloud payment, billing, and finance solution offers a cutting-edge platform that revolutionizes the way organizations manage their financial processes. With a focus on automation and artificial intelligence, Vic.ai streamlines payment, billing, and finance operations, enabling businesses to achieve greater efficiency, accuracy, and control.

Vic.ai harnesses the power of advanced technologies such as machine learning and natural language processing to automate mundane and repetitive tasks in payment and billing workflows.

Shortlistee of The Cloud Awards 2021-2022 for the Best Cloud Payment, Billing or Finance Solution

A powerful cloud payment, billing, and finance solution designed to empower businesses in managing their monetization processes effectively. With its comprehensive set of features and capabilities, the 2Checkout (now Verifone)’s Monetization Platform enables organizations to optimize revenue streams, simplify billing operations, and enhance financial management.

The platform supports a wide range of monetization models, including subscriptions, usage-based pricing, one-time purchases, and more. This flexibility allows businesses to tailor their pricing strategies to meet customer preferences and market demands, driving revenue growth and customer satisfaction.

A strong entry for the Best Cloud Payment, Billing or Finance Solution category should have:

  1. Innovation and Technology: Highlight the innovative features and technology employed in your solution. Explain how your solution leverages cloud computing infrastructure, advanced algorithms, or artificial intelligence to provide efficient and secure payment, billing, or finance management capabilities.
  2. Scalability and Flexibility: Showcase how your solution can scale with the needs of businesses of all sizes. Emphasize its ability to handle high transaction volumes, accommodate diverse pricing models, and adapt to evolving business requirements.
  3. Security and Compliance: Describe the robust security measures and compliance standards implemented in your solution. Discuss how it ensures secure payment processing, protects sensitive financial data, and adheres to industry regulations such as PCI DSS (Payment Card Industry Data Security Standard) and GDPR (General Data Protection Regulation).
  4. Seamless Integration: Highlight the ease of integration with other essential business systems such as CRM (Customer Relationship Management) or ERP (Enterprise Resource Planning). Demonstrate how your solution enables smooth data flow, eliminates manual data entry, and provides a unified view of financial information.
  5. Automation and Efficiency: Showcase how your solution automates manual processes, reduces human error, and improves operational efficiency. Discuss features such as automated invoicing, recurring billing, intelligent payment routing, or AI-powered financial analytics that enhance productivity and save time.
  6. Customer Experience: Share testimonials or case studies that highlight the positive impact of your solution on customer experience. Describe how it simplifies payment and billing processes for customers, provides self-service options, or offers personalized financial insights.
  7. Business Impact: Quantify the measurable benefits your solution delivers to businesses. This can include improved cash flow management, reduced billing errors, faster payment processing, or increased financial visibility and control.
  8. Support and Training: Highlight the level of customer support, training resources, and documentation you provide to ensure a smooth adoption and ongoing usage of your solution. Showcase any awards, industry recognition, or customer satisfaction ratings that reflect the quality of your support services.

By incorporating these elements into your entry, you can effectively demonstrate the strength and value of your cloud payment, billing, or finance solution, increasing your chances of being recognized as a top contender in the Best Cloud Payment, Billing, or Finance Solution category.

Next Steps to Enter The Cloud Awards

To enter this Cloud Awards category, or any other category in The Cloud Awards, please follow these three simple steps:

  • Download the entry form. Open up the ‘Cloud Awards Simple Form’ document.
  • Complete your form. You only need to complete the form once, even if entering multiple Cloud Awards categories.
  • Submit your entry. Head to the ‘Submit Now’ section on our website, select ‘The Cloud Awards’ and the category/categories you are entering from the list, upload your form and any other materials you would like the judges to review, and process your fees.

Since 2011, The Cloud Awards been helping organizations across the globe gain the recognition they deserve for market-leading innovation in the cloud computing and software sectors.

For a detailed breakdown of all the benefits you receive as an awards entrant as either a shortlistee, finalist or ultimate winner, please see our “Why Enter?” page. The many benefits are replicated across all international awards programs. If you have any questions about this category, please contact us.