As eero expanded into the sofware market with the launch of its premium subscription service, eero Plus, the company needed to restructure its payments model to support recurring payments. The eero team considered building the functionality in house, but quickly realised that would take months to design and hundreds of hours to build, potentially delaying the eero Plus launch.
The team opted to evaluate third-party payments platforms and the criteria was simple: eero needed a solution that was fast and easy to implement, and capable of meeting the rigorous timeline of its new product launch. eero selected Stripe Billing and Payments for flexibility, scalability and ease of use to support the company’s growing business. By selecting Stripe, eero’s engineering team had more resources to focus on product development rather than solving billing and payments challenges, ultimately ensuring the service successfully launched on time.
With hundreds of third-party extensions available out of the box, Stripe easily fit into eero’s existing e-commerce, accounting and CRM workflows and provided eero's business teams with a fully integrated solution across customers and finance. eero chose to use Stripe’s pre-built integration with NetSuite, which meant that Stripe data would automatically sync with the NetSuite ledger for cash reconciliation and revenue recognition. For revenue recognition, Stripe's Billing data gets pulled into the NetSuite revenue management module on an invoice line-item level. This automated revenue recognition tasks at month-end and saves the accounting team from using spreadsheets to defer payments data.
The engineering team had Stripe Billing and Payments up and running quickly, ensuring a smooth product launch of eero Plus. Solving the billing and payments challenges ahead of the eero Plus rollout saved the company engineering time and resources, and ultimately boosted customer loyalty and retention. "Stripe Billing enabled us to launch our subscription product, eero Plus, on schedule and with billing fully integrated," says Mark Sieglock, Head of Business Operations at eero.
Plus, after integrating Stripe with NetSuite, eero’s accounting team was able to automate multiple manual tasks and save over 50% of time spent closing their financial books at month-end. With automated processes and a single solution in place, eero’s accounting team now saves many hours per month reconciling their books and no longer has to use spreadsheets to defer payments data.
Stripe allows our engineering team to devote more time to developing new features that address deeper network and endpoint level security rather than building out our payments infrastructure. Additionally, our accounting team can take care of higher level tasks instead of manual data entry. Stripe frees up valuable resources across eero so we can focus on growing our business and achieving our mission.