What is the perfect billing system for your company? What kind of architecture fits to your business model? How can you achieve maximum efficiency at a minimum cost? These are just a few issues that enterprises face when choosing the right billing software. Before you make any decision read this article.
Support Multiple Charging Models
While industry-specific billing processing methods, products and services managed by billing systems designed for a specific purpose and charging model used to suffice for most enterprises 10 years ago, the influence of globalization and technology demands that enterprises bill “outside of the box” and support constantly evolving charging models. For some companies, the ability to bill for various charging models means a dramatic increase in sales and marketing opportunities – while for other companies, this is the difference between life and death.
Billing applications that silo billing into a predefined structure impede the growth and progression of the enterprise. In order to succeed and stay ahead in today’s global economy, businesses need to be flexible enough to change with evolving client expectations.
While it is impossible to predict with any accuracy the timing and type of a paradigm shift, it is obvious that they appear with ever-increasing frequency – more frequently today rather than in any other point in our history.
Enterprise billing needs the ability to adapt to change in a seamless and efficient manner. Fortunately billing platform gives the possibility to bill, rate, and charge in any way imaginable.
Avoid Missing Market Opportunity
Modern product development environment, products and solutions they’re based on change rapidly, as do the number of competitors for market space. This demonstrates that time to market and it’s optimization process are crucial elements that immediately influence revenue. For example, if your product release is delayed by 6 weeks because your billing solution slowly adapts to new offerings that’s 6 weeks for your competitors to grab market share, and much less revenue for you to pursue when you are finally ready to sell your product.
The quicker your billing software adapts to change, the better you’ll be able to control and predict your time to market and get new products out before opportunities are missed.
You definitely need the right tool that is able to process an unlimited number of offerings, which can be created, implemented and billed for on demand. It is also very important to bundle your offerings any way you want, with flexible pricing that can be customized differently for each customer or any set of customers. This makes it very easy to offer promotions based off of any schema you define with the potential for customizations and overrides for each of your customers individually.
Billing Platform successfully reduces product development processes, helps your company to quickly sell, promote, and bundle your services, and removing any hindrance to increasing revenue.
Choose good system architecture
The new momentum around cloud computing is a natural counterpart to the historic, global, technological progression we are experiencing right now. It is becoming standard solution for small companies and is slowly gaining popularity with big enterprises.
Main target of good business IT systems today is to assist your company in staying ahead of your competitors as a leader in innovation. It aspires to help companies drive demand and market capitalization by facilitating creative ideas instead of undermining them. With BillingPlatform’s cloud billing offering, the deployment of PAAS reduces the cost of customization by making your lightweight, cloud implementation as robust and specific as it should to be to support your initiatives when you need it to.
Software-as-a-Service is still alive and well with brands like Salesforce owning the market. It’s newer PAAS players such as BillingPlatform that are taking on a more leading role.
The overall foundation of the BillingPlatform solution is to ensure ultimate flexibility through their robust PAAS system. It is designed for rapid response to change with a focus on customer’s specific business functions. The BillingPlatform solution is a perfect example of how a PAAS can support as many customizations as necessary to be ultimately flexible.
Billing Platform solution is the industry’s most scalable, high-volume billing platform; ready to rate any kind of metered, subscription and ad-hoc services while administering customers products and rate plans. BillingPlatform.com simplifies this process to quickly and precisely implement any pricing and rating model; and roll out new products and/or services so our clients can rapidly turn ideas into cash.
Our billing solution allows you to define usage based products and services in an unlimited number of currencies and time zones. Collect service usage from any number of sources, and let the platform automatically rate and invoice it via it’s well designed, customizable mediation engine. Simple modules for usage mapping and parsing logic let you convert any type of metered usage; define which parts of the usage data to monetize; or simply collect for reporting and display purposes.
BillingPlatform’s versatile subscription management further boosts your capability to monetize any idea. Process any type of simple or compound subscription with automated functionalities to support: Pre-paid and post-paid rating, invoicing and charging; Renewals; Overages; Entitlements management; Automated credit card and ACH charging; Customized invoice system and custom subscription tiers; and a lot more.