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Experts' Advice On Choosing an Agile Billing System

Jan 19, 2021 9:00:00 AM

Agile Billing, The Cornerstone Or Stumbling Block In Your Business Strategy?

We have all discovered the need to quickly adapt to new business models and to pragmatically introduce new ways to deal with sudden events.
 
Often, the billing system turns out to be the stumbling block. For example, your billing system might have been part of an original ERP rollout years ago, and your needs have since changed.
 

What to do next? We asked experts and analysts for pragmatic advice and tips when looking to make your billing system more agile.

expert advice when buying a billing system blog pic

Look At What You Want To Solve

The first piece of advice is to make sure you look at what particular problem you are trying to solve.

Is it just a billing issue, or does it also contain other parts in monetization? For example, pricing, contract lifecycle management, data mediation or payment elements?

And what room do you have in your existing systems to tackle the problem? Traditional ERP systems tend to be fairly monolithic, and surely a full ERP replacement will not be the most pragmatic way to optimize your billing process?

Look A Few Years Ahead

Do not just look at solutions that can solve your problems today, but try to imagine what you would wish for in your billing solution 3 to 4 years from now.

A sustainable billing solution can adopt new pricing and contract models, and even adopt earning models you have not previously considered.

And while you are at it, look at what the system needs to integrate with, now and in the future. For example, IoT billing capabilities and connections to other billing data become increasingly important for new business models like “pay- per-use”.

Test The Use Cases That Cause You Headaches

Do not just settle for a quick demo or a superficial POC, but really challenge the vendor to prove how their system can tackle the headaches you have with your current solution. And how it can co-exist with your IT infrastructure.

As your new agile billing system will be a long-term investment, it must prove to be a sustainable fit for your business.

Get To Know The Billing System Provider

If you plan to work together for a long time, make sure your vendor is a fit for both your business needs and your culture.

Who are the key contacts, and can they offer the services you need in a fashion that fits your needs?

Often this is overlooked in systems selection, but turns out to be crucial for the rollout success. Give the relationship some thought in the selection process.

Sign in to an on-demand webinar: Agile Billing Trends, by Good Sign and MGI Research
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Take Us To The Test!

If you feel your recurring billing needs will outgrow your current 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.


billing challenge draw

 

 

Good Sign

We help our customers solve existing pain points in monetizing service contracts and managing subscriptions and pay-per-use services. We help companies freely grow scalable services.

Feel free to contact us and let’s have a chat on how we can support your company.

 

Marc Wullings
Written by Marc Wullings

Marc is active with our global and local customers in the Benelux and Western Europe. He blogs about the topics that come up in discussions with our clients and partners.

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