3 min read

Subscription Management Gets Easier with RevOps

Subscription Management Gets Easier with RevOps

Revenue Operations is an operating model for customer-centric companies. RevOps entails aligning previously siloed business functions to optimize operational processes and improve efficiency. In simple terms, teams such as sales, marketing, customer success, service, and finance are brought together to work in close collaboration towards shared revenue generation goals.  Revops_with Good Sign

RevOps teams are responsible for analyzing customer data to identify areas for improvement in the customer journey, developing and implementing strategies to increase revenue, and optimizing operational processes to increase efficiency and effectiveness.

They also focus on aligning the goals, metrics, and incentives of different departments to ensure that everyone is working towards the same revenue objectives. When it comes to billing, the RevOps team enables the continuation of revenue streams across the customer lifecycle, such as cross-selling, upselling, and increased customer satisfaction. 

 

Revenue Operations and Service Billing Data  

RevOps breaks down traditional function silos in an organization. The structure that is rebuilt is often centered around the end-to-end customer lifecycle, from product marketing to contract to upsell. This includes service events, charges, the billing process, and even cash collection.  

This RevOps setup mimics the customer lifecycle value central to the monetization strategy. The billing process requires measurements of customer value created not only consistently throughout the billing period, but immediately again afterward to prepare for the next recurring billing period.  

RevOps and billing are therefore related processes that can each enable the success of the other. By improving billing practices, RevOps teams can help ensure that revenue is being maximized and that customers are having a positive experience with the company. 

RevOps can help service businesses achieve: 

  • Efficiency and peace of mind 
  • Clever pricing 
  • Data and insights 
  • Transparency  
  • Quick go-to-market. 

Subscription Management Gets Easier with RevOps  

RevOps can make basic subscriptions easier to manage. For example, it can work to streamline the invoicing process, automate payment collection, or integrate billing data with other systems to provide a more complete view of the customer journey. 

Enterprise subscription billing, with the added complexities of customer-specific contracts and pay-per-use pricing models, can also benefit from the cross-functional data stream that a RevOps operating model facilitates. Access to service billing data similarly allows the RevOps team in their decision-making process.  

For example, in a pay-per-use business model, customer behavior is reflected in the usage data. This data can then be fed back into other reports to get a comprehensive view of customer behavior.  

Integrating Billing with RevOps  

There is a lot of data associated with billing – usage, payment, and other event-based data. This data is perfect for RevOps purposes, including cross-functional rule-based automation.  

The purpose of this kind of billing automation software in RevOps is to facilitate multiple data streams related to all billing items, including customers, contracts, pricing, products, and reporting, to use the information to trigger actions in other departments. With a modern service billing solution, RevOps team can get full visibility of the service charges, pricing, and underlying service events. This allows analysis and optimization of revenues across product categories and customers. 

To integrate billing in RevOps, billing data must be visible enough for customer service, flexible enough to align with sales and marketing functions, and have integrations with finance and contract data.  

The Right Billing System to Get Optimized Client Journey and Billing Insights

It’s clear that RevOps and billing data go hand in hand. However, only the right tool can control, manage, and interpret the information. An agile billing system built specifically for this type of complexity is the best platform to provide a smooth and optimized client journey and transparent billing insights. Start by aligning your contracts and billing software and build from there. You will quickly see results and better insights into your profitability. 

 

Download a Guide
How to Manage Customer Contracts With Good Sign

How to manage customer contracts with Good Sign

Download

TAKE US TO THE TEST

Good Sign is an expert in pricing and billing. Our software, which is produced as a cloud service, is used by Saas companies as well as by IT service companies that provide various data center or consulting services. And in many industries in XaaS service models!

So, if you feel your billing needs will outgrow your current recurring revenue billing solution, or if you are just curious to learn how Good Sign does things differently, feel free to take us to the test! We will gladly take on your challenge and prove to you it can be done, and that the new world lies beyond just subscriptions.

Subscription billing Trends 2024 - What to Expect

Subscription billing Trends 2024 - What to Expect

In 2024, B2B subscription billing is changing quickly because of technology and market changes. This evolution is pivotal in streamlining financial...

Read More
Exploring the Role of Data Mediation in Modern Billing Automation

Exploring the Role of Data Mediation in Modern Billing Automation

The enterprise billing landscape is continuously evolving, with businesses relentlessly searching for tools and techniques that ensure precision,...

Read More
Adopting Usage-Based Pricing and Billing

Adopting Usage-Based Pricing and Billing

The popularity of usage-based pricing is increasing steadily. The rise of cloud services and SaaS are the fields where the change has been radical....

Read More