Monetizing Services in Your Industry
Respond to Market Opportunities
Respond to market opportunities in recurring revenue with flexible subscription, pay-per-use, and circular business offerings. Apply contract lifecycle management and automated pricing, billing, and monetization to help scale your business.
Our solution suits continuous service business and ecosystems in different industries. It complements your current IT landscape, bringing new capabilities.
Software, support, hardware, and connectivity are widely provided as continuous services: SaaS, cloud, capacity, managed services, leasing, and life-cycle services. Customers expect new digital value, cost-efficiency, and suitability to their exact requirements - despite the complexity of the details of the offering. This calls for a well-thought service catalog. Efficiency requires capability to automate all of the pricing, billing, usage data collection, and accounting. Digitalizing processes end-to-end, with built-in flexibility to innovate and customize, creates competitiveness.
New business opportunities are created on top of producing, selling and leasing durable products/assets and contracting for maintenance: e.g. full-service solutions, software-based service extensions, IoT and AI-enhanced data and predictive maintenance services, product as a service, marketplace and partner ecosystem services. Also, customers may require custom service configuration and may wish to have options to pay as a predefined subscription or pay per use for e.g. capacity, usage hours or reporting data. Traditional supply chain driven ERP/financial systems do not offer flexibility for the kind of data-driven services and microservices. Companies should not settle for manual work in managing subscriptions, source data, billing, and transfer costs allocations for the new offerings, but apply flexible and scalable monetization automation.
Energy and utilities are facing biggest change in decades. Changing regulation and pressure for lower Co2 requires new thinking. Energy companies are piloting or scaling up renewable energy, circular economy chains, distributed energy resources, and local small-scale energy production. At the same time, for example, intelligent energy and water consumption metering, intelligent facilities management, electric vehicles and Internet of Things (IoT) are creating new kind of ecosystems. Customers are expecting smart services and prefer green values. Altogether this means that new business models are needed.
The private sector and the national, regional and local public sector are providing many similar end customer services be it for example transportation, health or education services. Additionally, internal service providers within the public sector take care of IT services, facilities management, utilities, connectivity, and many such professional services like HR and accounting services. Therefore, the public sector can benefit greatly from flexible and industry-independent software capable of automating varied recurring services orchestration, billing, and accounting.
Financial service providers are bringing new services to market. Leasing extends to pay-per-use and combining partner services. Outsourcing services become more and more automated and technology-intensive. Combining capabilities of several players and across industries requires capabilities to manage service ecosystems. Customers are expecting digital services with ease of access, flexibility, and transparency. Current capabilities are challenged. New service inventions require new tools.
Demanding service chains prevail in health and care services as well as in sales and distribution of pharmaceutical products. Customer-centric services transform structures. Automation is replacing manual routine tasks. New ecosystem business models are emerging. Intelligent automation drives better suitability, responsiveness, quality, and efficiency. Capability to orchestrate services and connect all performed service transactions to billable/cost items is essential. Advanced service contract lifecycle management, transaction data management, and pricing and billing flexibility are required.
Workspaces and facilities are more and more about user experience and suitability of the working conditions. Many imperative services, value-adding partner services, and access related services are expected from the workspace providers. Co-working spaces are offered with easy to use subscriptions and one-time access. Service availability and conditions are defined in service level agreements and provided and monitored technology-intensively. Fixed recurring rent model is evolving to variable pay-per-use contracts and subscriptions, which calls for new data-driven recurring revenue/subscription pricing and billing software.
New kind of vehicles, capabilities and transport modes change the market: Electric cars, self-driving cars, drones, car sharing, rideshare, mobility as a service. Customers are expecting personalized, easy, quick and sustainable services. Intelligent logistics systems and smart cities meet environmental values. New kind of software is needed to enable new services and new business models.
The services of the telecommunications industry are complemented with e.g. managed IT, media and entertainment, fin-tech, and the opportunities provided by the Internet of Things and AI. The outcome is new value and new services across customer segments, industries, and ecosystems. Telecommunication service providers have long excelled in managing subscriptions, but existing systems are seldom perfected for combining wide offering of subscriptions, support, and other professional services nor for tailoring services to the needs of large B2B customers. Dynamic BSS capabilities to offer different kinds of subscriptions and services are an advantage. Contract-level pricing, contract lifecycle management, billing, and accounting capabilities can provide differentiation and cost efficiency for the telcos in the B2B customer segment.
Professional services have been traditionally invoiced based on billable hours. Today, many professional service providers have moved to a service contract and subscription-based pricing models, where pricing is based on a fixed fee for a predefined content and service level agreement (SLA). Often separate fees are agreed for overuse and add-on services. Further, professional services hours should be combined with other source data to compile complete billable coverage. Professional services automation (PSA) usually covers resource, project, time reporting, and expense management, but new productization requires new service packaging capability, source data processing capability, and pricing flexibility.
Get started with Good Sign Software today. Automate your recurring revenue pricing, billing and accounting stopping manual work. Uncover revenue leakages. Speed to market with new recurring business offerings.