Advantages Of A Cloud Billing Software?

13/08/18 03:09 PM By Nico
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Here are 5 key advantages of cloud billing:

    On-demand scalability: With the cloud, business divisions can collaborate on a common platform, allowing internal teams to rapidly create, test, and pilot their ideas. This affords businesses an expedited means to convert ideas into applications, and quickly determine whether a pilot product/service is likely to be a success. If so, the ability to get this product to market requires that the enterprise be able to price and bill for it as quickly and efficiently as possible. Cloud billing offers the enterprise greater on-demand scalability to act and react to market opportunities, including the ability to scale up or down as needed without costly investments into additional infrastructure and resources.

  Flexible pricing: Variability in how products and services are offered is key, especially as customers are increasingly demanding how they consume – and pay – for products and services. Innovation in pricing is dependent on flexible pricing structures that allow customers to change how they want to buy or use products and services with minimal intervention. Flexible pricing is also key to determining how to best monetize new offerings in a rapidly growing and ever-competitive technology market.

  Improved customer relationships: Billing is at the intersection of the product and customer, and often, the only point at which the enterprise interacts with its customers on a regular basis. In an increasingly competitive environment, customer service is an important differentiator – and that means the ability to provide customers with timely, accurate, and transparent invoicing is absolutely essential. While this point may seem obvious, the reality is that billing errors are both commonplace and costly, both in financial and reputational terms. Cloud billing reduces error-prone manual processes through automation, and provides customers with real-time access to their service terms and usage as well as detailed and itemized invoices.

  Seamless integration & improved operational processes: Instead of spending hours poring over spreadsheets, billing automation enables finance and accounting departments to reduce their manual workloads and likelihood of errors. For IT, cloud billing offers a solution to work-around-intensive software, and hardware upgrades to on-premise ERP systems. The right cloud billing solution will allow for easy integration with existing systems while accounting for organizational growth and business expansion – leaving IT departments with the ability to focus a greater portion of their workloads on the core business.

  Improved business insight & reporting: In the era of Big Data, there is no platform more suited to capitalizing on data than the cloud. As companies continue to build cloud-based systems-of-record for operational data, market leaders will use this data for greater insight into learning who is accessing services, what services are most used, and the opportunities the enterprise can capitalize on. Cloud-based systems offer an in-depth and consolidated view of the information gleaned from this data.


Source: QUORA


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