How Can Service Providers Profit From automatic Billing System?

Automatic billing system that offers complete subscription plan management can be a source of competitive advantage. At Netfunda, we produce cloud based software products to provide solutions to business verticals. Our billing solutions offering Netfunda OneClickBill has been instituted to administer profitable IT solutions to service providers. A hosted billing system does primary billing work. We have moved beyond that. Billing automation solutions for service providers has to cater to host industry specific issues. Moreover scalability of the subscription billing software makes a big difference. We address these issues.

Installation Of A Billing System

The fundamental question that concern service providers is the platform that hosts the online subscription management system. The internet boom has led to a strong resurgence in the subscription economy. Service providers have mushroomed like never before. When service providers use a platform that requires a physical interface, growth potential is restricted. When orders keep flowing in over the phone and the internet, it is advisable to switch to cloud services billing. Cloud hosted billing system enables service providers to make the billing department absolutely portable. Our cloud hosted billing software gets automatically installed with a click. It releases resources and efforts otherwise locked in billing. It also enables service providers to sell more and accept payments without worrying about devices.

Sales Process Automation

How about business invoicing software that has a customizable front end? Great as the idea sounds, it unlocks hidden business opportunities. OneClickBill is business invoicing software that has a fully customizable front end. The solution that we provide through this feature is a unique customer ordering interface. A powerful SaaS subscription API has been instituted and administered into the invoicing software. This doubles the productivity of your sales team. As discussed earlier the system is cloud based and hence cross platform by nature. Add to it the fact that the software offers a customer ordering interface. So the sales executives can readily offer service, sales and accept payment in one go. Outstanding payment cases are reduced to a great extent.

Dealing With Revenue Churn And Subscription Renewal

Across a wide spectrum of service providers the single most important challenge is to consolidate revenue stream. In hindsight, it means firm control on subscription renewal. Many enterprises have built significant switching costs. A high switching cost serves as a penalty for being unfaithful to the existing service provider. Consumers have become smarter. They do not want to be with a brand where they lose the option of switching. So they straight away reject service providers who incorporate switching costs. There is a smarter way to handle subscription renewal.

Service providers can make use billing analytics to track consumers. Recurring billing for an old customer indicates brand loyalty. Coupons and discounts can be offered to customers depending on the volume of purchases made. The case history of every customer is auto archived in the invoicing software. With recurring purchases, there are recurring payments and the customer moves up the loyalty ladder. The software shows the different grade of discounts he is eligible for. Moral of the story is that coupon, billing and discount billing can be a great way to personalize customer relationship management efforts. Again, Netfunda OneClickBill scores high on this multi tasking ability. For subscription renewal, service providers can set the due date of payment for every customer. The subscription billing software sends automatic reminders built in aesthetic invoice templates. Further custom fields can be added to determine penalties for late payments and rewards for early bird payments. Our software has a powerful recurring billing API to support this kind of value addition.

Streamlining The Affiliate Management System

Service providers very often institute fully white label reseller programs.  This has the effect of opening up new avenues for sales. With cloud hosted billing software it becomes so easy for service providers to transcend boundaries. They can appoint affiliates and resellers in the overseas market and sell to a global audience. Netfunda OneClickBill works with ambassador.com and zferral.com – the two most awesome sites for affiliate and reseller management. Hence affiliate and reseller billing is executed with ease. Further it supports multiple currencies, languages and payment gateways. The software also offers domain and hosting order management. This feature provides extensive solution for cloud services billing.

In short automatic billing system can be a potent source of competitive advantage if it offers subscription plan management. With the rise in service providers, SaaS billing solution has become the next big thing in billing. The idea is to look for invoicing software that not only does billing but provides a value based solution. This is where the secret to profitability lies.

"