Billing Really Is Part Of Your Customer Process
Over the past 10 years, the CX landscape has changed dramatically. Where older CRM systems handed over to ERP when the client signed the deal, we now look much broader to the whole lifecycle of the client.
Funnily enough, billing sits firmly on the ERP side, under the responsibility of the CFO. How feasible is this in 2021?
In this blog, we will argue that your client thinks that billing is part of the journey, and what opportunities this brings for you and your customers.
The Rise Of Revops And The True 360- Degree View Of The Client
Recently, more and more companies have adopted RevOps: the concept that the client journey should not be siloed in Sales, Marketing, and Service, but rather be seen as a holistic approach to serving clients. With more and more data available, optimizing your commercial systems beyond boundaries becomes the best way to streamline your business. However, we see a lot of focus -again- on the traditional CRM elements, which only cover half the client interaction.
Billing As Part Of Your Client Dialogue
From contract to fulfillment, following the customer journey should include billing and payments. How can you otherwise optimize your systems? Your clients might be best served in the pre-sales and post-sales process, might be fully tracked along the life cycle, but if your billing is not up to date, they will ultimately be less satisfied.
How you bill, what you bill, and how the bill is received, is all part of your RevOps strategy, and -in the eyes of the customer- part of their customer experience.
Flexibility And Customization Are Key, Integration Mandatory
What does this mean for future systems? First and foremost, billing and contract management should be closely connected, so you can sell, deliver, and bill in a consistent way.
As over 35% of client interactions are triggered by sent invoices, this is less a luxury and more a necessity. Also, as you optimize your business models in the RevOps team, transparent, and clean invoices will mean better cash flow, less revenue leakage, and overall lower service cost.
Future Proof Your Systems
The rise of RevOps puts a light on the traditional boundaries in your functional architecture. Traditional ERP-driven billing modules will not be able to keep up with the need for flexibility, integrations, and customizations, as they are too much a part of the ERP setup.
Modern agile billing systems will better suit future needs as a “system in the middle”.
We believe billing will increasingly be considered a front-office solution when you put the customer first.
Take Us To the Test
If you feel your billing needs will outgrow your current recurring revenue billing solution, or if you are just curious to learn how Good Sign does things differently, feel free to take us to the test! We will gladly take on your challenge and prove to you it can be done, and that the new world lies beyond just subscriptions.