Need Help Creating a New Year's Resolution? Here's a Hint: SaaS Billing

Posted by admin, December 21, 2015

For families and loved ones, it’s beginning to look a lot like Christmas. For telecom resellers, on the other hand, it’s looking like a lot of strategic planning for the new year in order to enhance customer service, increase customer acquisition and improve cash flow.

One way that people prepare for the start of a new year is by creating a New Year’s resolution aimed at bettering themselves and those around them; for example, hitting the gym more, quitting smoking or being kinder to others. Similarly, resellers should consider creating a New Year’s resolution for improving their business and those who matter most to them—their customers.

For resellers counting down the days to 2016 without a set goal in mind, here are a few reasons why implementing software-as-a-service (SaaS) billing could be a great goal for the months to come:

  • Customer autonomy frees up time: Imagine your customers being able to log into a user portal in order to independently manage and upgrade their services, as well as buy new services? Or, imagine your customers receiving automatic notifications that inform them of upcoming payments in advance, or when they have missed a payment. A SaaS billing system that enables customers to manage their accounts on their time through one easily-accessible portal takes more of the work off of resellers’ shoulders. This enables them to allocate time to other high-priority tasks while ensuring customer satisfaction and steady cash flow.
  • An online marketplace approach: Resellers can shop using a global cloud product catalogue with an online marketplace experience (think similar to Amazon.com). This marketplace comes pre-populated and integrated with cloud services offered by a number of today’s top telecom providers, enabling resellers to quickly inherit services from any provider to help them create, price and sell custom services for profit. An online marketplace approach ultimately eliminates the need for resellers to manually navigate between multiple disparate vendors when creating their own custom service packages, optimizing time and effort.
  • System integration prevents revenue loss or leakage: A SaaS billing system easily integrates with resellers’ existing third-party systems, such as CRM and ERP platforms. This functionality enables them to expand their customer reach across multiple touch points to secure incoming revenue and avoid loss or leakage.  Additionally, just as this system integration enables resellers to begin billing more immediately for new accounts that are activated—ensuring they begin collecting for accounts that are being utilized as soon as possible—it enables them to deactivate accounts as soon as a customer cancels a service. This enables resellers to avoid billing for accounts that are no longer being utilized, which could require money to be refunded to customers in the long-run.

Don’t wait until you’re counting down to midnight to get a game plan in place. SaaS billing could be exactly the strategy you need to make 2016 your most successful year yet.