Subscription-based businesses are enjoying an unprecedented level of success. They have been successful because they can scale easily in response to changes in demand, and retain customers for long periods of time; thus supporting a relatively predictable stream of revenue. As the amount of customer data continues to increase and subscription services become more complex, accurate and reliable billing becomes increasingly difficult. SaaS businesses still largely rely on outdated billing systems that have been repackaged to fit their needs for the short term which limits their growth potential. These billing systems do not provide the flexibility that modern businesses selling subscription services need and leaves a lot to be desired.
Revenue loss can often go unnoticed as it does not have any physical signs. However, it can create long-term negative consequences for your business if it goes unchecked. Revenue leakage is the unnoticed or unintended loss of revenue that often happens due to underbilling.
Subscriptions have simplified the customer buying process in recent years, making it easier for companies to generate revenue. However, many companies are opting for usage-based pricing instead of flat-rate pricing lately as it can lead to more attractive, client-oriented services that ultimately drive revenue growth. The rapid growth platform providers want to increase their revenues and are pushing for more complex pricing, bundling, and payment requirements. IoT, Communications, Cloud, and Software platform providers need to handle multiple recurring and one-time payments, made by millions of customers using different devices worldwide. This necessitates the adoption of usage-based billing models.
A billing system migration process does not have to be as hard as people are making it. It’s typically one of the riskier projects a company will embark on - and hopefully, only go through it once - but it can be easier.
Marketing and business development are vital parts of every business and one of the most fun and creative activities at any company if they’re done right. I’ve had the chance to see how marketing, advertising and the digital landscape have affected marketing tactics over the last couple of decades and not to put too fine a point on it: Most of it has become a relentless barrage of unwelcome garbage. I think a lot of marketers nowadays perceive their craft to be something like the natural process of erosion. If I hit my contacts with enough material, eventually they’ll relent. We do see your spam, we’re just ignoring both you and your cadence of dozens of unsolicited and irrelevant messages.
You've hit a breaking point with your current billing system, maybe you've outgrown it completely, or maybe you are fed up with manually entering items in a spreadsheet. You may already have built an internal billing system that just isn't cutting it anymore.
In today’s ever-changing marketplace, consumers’ demand to maximize the benefit they derive from using a product is driving change in the way companies price and sell their products. The subscription and sharing economy put a greater emphasis on transparency, customized pricing, and real-time tracking. This has quickly seeped into the B2B SaaS industry which is witnessing a pricing disruption like never before. Increasingly customers choose to pay only for what they use as it is affordable and requires a lower initial commitment.
In most organizations that send out invoices to their customers, there is a constant battle being fought for control of that invoice. This battle normally involves multiple parties all vying for supremacy. The combatants include the Finance team, the Marketing team and the Customer Care team.
The evolution of the Internet of Things (IoT) and maturing underlying technologies are giving businesses new and unique ways to communicate, connect and collect data like never before. With businesses bringing in unique offers and contracts to tap into and attract their customer base, there is an ever-increasing need to capture and monetize this data effectively.