Eight Reasons to Move to a Cloud-based Billing System in 2017

Posted by admin, December 6, 2016

Cloud billing is considered by many in the IoT, Mobility & Telecom industry to be the missing ingredient for solution providers competing in today’s marketplace. With research showing that the global cloud billing market will nearly triple in growth to reach $5.4 billion by 2018, representing a CAGR of 27.7 percent during that time, it’s clear that more businesses are getting on board with this advanced new billing model to improve on a number of processes and workflows.

Specifically, we can think of eight processes that cloud billing technology can immediately improve upon. Let’s take a look...

1. Storefront: A cloud billing platform provides a white-labeled storefront feature, enabling providers to build a custom portal so that they do not have to be confined to another provider’s portal processes.

2. Reporting: Third-party integration enables resellers to receive reports generated from disparate systems on one unified dashboard, enabling them to more quickly make necessary business improvements.

3. Cataloguing: A global cloud billing catalogue is pre-populated and integrated, enabling providers to quickly inherit cloud services from any upstream provider to help them create, price and sell their custom services for profit. It is in this way that providers no longer have to navigate multiple cloud services across multiple vendors, saving time and effort.

4. Revenue management: By integrating third-party CRM and ERP platforms with cloud-based billing infrastructure, providers can more clearly track and monitor their cash flow to enhance revenue management processes, like revenue assurance, to improve profit margins.

5. Predictive analysis: To conduct predictive analyses, resellers must input accurate subscriber data into their various systems and then leverage it for strategic use. An integrated cloud billing system enables provider to enter customer data once into any given system, which then automatically duplicates across all systems. This enables resellers to avoid manually entering data multiple times, which can compromise quality, accuracy and predictive measures.

6. Order to activation (O2A): The faster a service can be delivered and activated to a customer upon its initial order, the more satisfied that customer will be. A streamlined cloud billing platform accelerates time to revenue with increased speed of activation to increase customer satisfaction, retention and ultimately cash flow.

7. Time to market: A few factors go into time to market, or how quickly it takes a reseller to roll out a new product or service for purchase. For instance, it depends on the accuracy of the data being collected by the provider, which helps shape and influence the new product. Because all billing, CRM and ERP components are intuitively synched, a cloud billing platform can equip providers with the knowledge and resources necessary to bring new products to market exponentially faster than when using archaic, siloed technologies.

8. Tax and compliance: Tax and compliancy has never been a simple process for telecommunications resellers, especially due to the fact that cloud service taxes must be measured on an “as used” basis. A cloud billing platform, like BluLogix’s Cloud Innovation Suite, can help with an all-in-one tax and compliancy service that simplifies the core tax and compliancy processes associated with selling telecom services.

There are too many benefits of a cloud billing platform to cover on this one blog. So, we invite you to explore our Cloud Billing Blog to learn more about how you could benefit from the technology.