Automated Billing Can Be A Money Maker
You Win Some, You Lose Some Revenue is the result of doing things right. After hard-fought sales battles, optimized production of service processes,...
There has been a lot of dynamics in the billing industry, and most growth evolves around service billing. Many companies have created as-a-service models or even moved completely to subscription billing. Still, service billing is much more than just those two areas, as mature service organizations can tell.
In this blog, we will look at the latest trends after a conversation with Igor Stenmark, the billing expert from MGI Research.
In today’s competitive environment, many companies move to subscription or usage-based billing and as-a-service business models. Even no commitment billing models or pay-per-use models are general.
Moving from traditional billing to as-a-service means much more than just modernizing your billing system. Many processes and metrics need to be re-designed. As a result, 4 out of 5 companies find themselves challenged in the transformation and find that they lack the tools, skill sets, and billing solutions to handle the new needs. They start looking at alternative billing systems beyond traditional ERP.
Service billing is fundamentally different from traditional product billing. In service billing, there are the key signs showing that your system needs a revision:
According to MGI, there are 3 core capacities that define a good service billing solution:
Versatility: the ability to handle a broad range of pricing models, manage subscribers, and provisioning services effectively.
If you feel your billing needs will outgrow your current recurring revenue billing solution-, or 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.
Feel free to contact us and let’s have a chat on how we can support your company.
You Win Some, You Lose Some Revenue is the result of doing things right. After hard-fought sales battles, optimized production of service processes,...
Billing should be a natural and positive event in business. A financial “thank you” after a job well done. But too often, the invoice or the billing...