The Market Is Changing Towards Paying for Usage and Outcome. Are You Ready to Run It Efficiently?

 

Good Sign for Industrial Service Providers

WHY

 

Industrial Service providers are rapidly changing business models from selling assets towards full-service solutions including usage-based billing. Internet of Things (IoT) is enabling new service value. Customers are becoming mature to pay per usage or per used capacity.

Also paying for availability and performance as well as hybrid service setups are increasing.

Simultaneously, customers are expecting vendors to provide á-la-carte combinations of services.

These requirements pose a challenge to both vendors’ service product packaging and back office functions as traditional supply chain driven ERP/FINANCIAL tools do not offer the required flexibility. This results in massive manual efforts in managing contracts and gathering billing data – causing costs and long cash receivables cycles.

Customer-to-customer variation is a major scalability issue when processes are manual. Revenue leakage may be as high as 10% of contract revenue due to gaps and errors in person dependent processes.

Also the constant pressure on the service providers’ margins is calling for automation to eliminate accuracy issues and stop excess manual work.

 

WHAT 

Speeding change requires both innovativeness in business strategy and execution as well as new capabilities and flexibility from the business supporting tools

Many existing IT systems are based on the traditional operations models within organisation and are often too inflexible, slow and expensive to change in order to gain needed progress in for example:

 

 

 

 

 

WHAT GOOD SIGN SOLUTIONS OFFERS

 

Good Sign Software offers tools for Industrial Service Providers to be able to manage the changing business landscape with innovative new business models, improve efficiency by eliminating manual work and increase customer value by flexibility of customer centric services processing, product packaging and pricing models.

Good Sign is a cloud-based solution and supports agile and gradual implementation of automation parallel to existing systems enabling smooth transitions from manual to automated processes. Implementing Good Sign does not mean replacement of existing ERP as Good Sign complements the current IT landscape bringing new capabilities.

Good Sign has a powerful orchestration engine capable of commanding internal and external digital services within the service environment with many customers and partners. New service model with dynamic usage/outcome -based pricing can be offered and monetized. Good Sign can automate raising a service ticket in a partner support system based on certain rules and triggers. Good Sign can orchestrate service activation and change management in operational systems end-to-end starting from customer self-service.

The Good Sign Solution offers for example:

  • Rule-based triggering of service actions between systems within organisation and between partners in a service ecosystem to automate the process and financial transactions end-to-end
  • Ability to create endless number of service pricing and product packaging models and scale new services easily into volumes
  • Orchestration to read (IoT) meter data or any usage data in to process and pricing
  • Rule-based pricing and billing to master the most complex customer contracts, even in the case where customer also acts as a supplier and clearing is needed
  • Automatic management of orders and intelligent recurring orders
  • Automatic collection, mediation and validation of invoicing data according to service parameters, costing and pricing rules. Improving data accuracy and quality by eliminating manual errors and omissions
  • Automatic controls, automatic reminders for manual controls and automatic triggering of manual exception controls according to set rules
  • Producing invoices according to customer specific requirements and allocations as well as flexibility in invoicing method. Shortening invoicing cycle by days, even with weeks to improve working capital
  • Comprehensive financial transactions including revenue recognition (compliant with IFRS 15), usage based cost allocations and charge-backs of costs and transfer pricing. Access to detailed level data to assure audit trail
  • Facilitate speed and transparency for business forecasting, budget follow-up and profitability analysis with detailed data
  • Portal to share information with customers, partners and the entire ecosystem where role based access increases customer satisfaction and trust through transparency, speed and flexibility
  • Ability to make easy proof of concepts with pricing and product packaging simulations
  • SaaS for always up-to-date tools with API for easy connectivity
 

THE PROMISE

The Good Sign Solution eliminates:

  • Operational difficulty in monetizing services which are priced and packaged according to customer specific requirements
  • Slow and costly ITSM and ERP modifications to enable new business models
  • Excel spreadsheets and manual labor in gathering and pricing billing data
  • Manual labor in producing invoices to each customers’ business organization and specific cost allocation structures.

Our Customers are 100% guaranteed for being able to launch new digital service business models and pricing schemes.

Our Customers uncover 10% non-billed revenue resulting in 40% profit increase with 70% improved cash flow and 90% of manual administration eliminated.