Transverse, a provider of hosted billing platform and solutions, unveiled its flagship activity-based billing platform, TRACT, which has been nominated for a Pipeline 2012 Innovation Award under the Cloud Innovation category.

The Pipeline 2012 Innovation Award recognizes innovation in cloud-related technologies.

TRACT is an all-in-one activity, rating and subscription billing platform that can bill for anything that can be measured. The solution is used by SaaS (News - Alert), cloud, MSP, ISVs, telcos and wireless providers to automate billing, increase revenue, identify customer trends, and deepen customer loyalty.

A multi-tenant software-as-a-service (SaaS) solution, TRACT cloud billing offers real-time rating, charging and analytics in a service-oriented architecture. The solution is designed to spread efficiencies, cost savings and benefits across its customer base.

 TRACT 's SaaS activity-based billing platform allows companies to rapidly evolve revenue streams around emerging business trends; quickly understand opportunities and threats, then proactively address either; and optimize customer experience with tailored service plans that match activity preferences.

"TRACT brings all the robust functionality and capability of sophisticated, legacy billing solutions, but without the capital expenditures and change-management revenue model," said James Messer (News - Alert), CEO and co-founder of Transverse, in a statement. "Our cloud-based billing platform streamlines the implementation process so businesses can focus on their core competencies."

The cloud billing platform allows customers to evolve beyond simply controlling price, term of an offering and a product mix, according to Messer. The solution provides real-time analytics and insight on customer activities, allowing the users to dynamically configure and repackage services according to customer trends.

In another related development in the industry, Elastic Path Software, a provider of digital commerce technology and expertise for enterprises selling digital goods and content, formed a partnership with hosted billing provider Aria (News - Alert) Systems to deliver the functionality of Aria Subscription Billing Platform with the Elastic Path Digital Commerce Engine.