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What 2021 Has Taught Us About Billing

Nov 10, 2021 12:09:09 PM

As we near the end of 2021, we have to say most companies are back in full swing and the economy is on the rise again. We have seen some profound changes in the way we do business, and billing has certainly taken a central stage in business transformation.

Many changes are here to stay, and we meet a lot of companies who are struggling to keep up with the new world in their core systems. Here are the 9 top themes we heard our customers talk about.

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1. The Customer Demands Flexibility In Pricing and Billing

Agility is key, and new business models are all about lean pricing models. As a result, we see clients demand the flexibility of pay-per-use models. Find out how this impacts your pricing and billing. Read more.

2. Billing Needs A Place In Your RevOps Strategy

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. We wrote about it in this blog.

3. What Your Billing System Can Tell You About Customer Behavior

How will customers react to new pricing models or adopt new business propositions? It turns out your billing data has predictive powers that are often overlooked. How this is done can be read in this article.

4. Billing Is Key to Leveraging IoT in Industry 4.0

The change from product to service will be accelerated, and IoT is now adopted for new models like pay-per-use. As such, your billing system will have to be able to adapt more service billing functionality. We wrote a blog about this earlier this year.

5. Bills That Thrill: The Rise Of Client-Centric Billing

Being able to present a clear, undisputed bill dramatically reduces the payment time and increases the cash flow. Can you give the client a direct insight into the billing items charged on the invoice, and thus avoid irritation and delays?

6. Billing Will Become A Strategic Advantage For New Business Propositions

As companies quickly implement new business propositions, it has become clear that often the billing system is the obstacle to change. An agile billing system can help if you struggle with one of these 5 problems: 

7. New billing demands have outgrown the old core systems

With the increased complexity and volume, the old workaround with Excel sheets or manual lookups and inputs will no longer be sustainable. Patching up old billing systems with a band-aid is no longer a viable way forward. Especially now that Agile billing systems can easily replace this and create a first-time-right experience. We wrote about this in this article.

8. Billing Has its Place in It Infrastructure

The role of billing in a modern ICT environment. One thing is clear: billing solutions nowadays need to be agile to adapt quickly to business changes, and therefore deserve their place in the ICT infrastructure.
If you want to read more, click here

9. Billing Should Be A Non-Event

In 2022, billing experts will be looking for seamless billing as always. While your business evolves at an ever-accelerating pace, and you introduce new products and services, your billing system should keep producing reliable output time and time again. We salute agile billing systems as the true acrobats staying stable whatever the circumstances. Read more:

Take Us To The Test!

If you feel your innovation strategy has outgrown 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 is closer than you might think!

Good Sign is listed in Forrester's Now Tech B2B SaaS Recurring Billing Management Solutions Q3 2021 report. Download a copy

 

Listen to the experts: Taija Engman from Good Sign Talks With Igor Stenmark from MGI Research

If you want to catch up with what is going on in the field of billing, Taija Engman from Good Sign recently teamed up with Igor Stenmark, the billing expert from MGI Research for a chat on the key trends in billing in 3 short videos.

Watch now!


1. Agile Billing Trends and why it matters
2. Service Billing Trends and Players
3. It Perspectives to a Billing System

 

Taija Engman             Igor Stenmark

Taija Engman   Igor Stenmark-1

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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