Time to consider a Billing Automation Solution for More Agile Billing

You discovered it's time to update your billing system - a common issue that many businesses face - as the current system is longer meeting your current business needs.  

 We understand that deciding on a new system comes with its challenges. That's why we have reached out to our experts to provide you with useful insights and practical advice for selecting a new billing system for your recurring revenue business. Read on to discover their tips.  

Look at What Billing problem You Want to Solve 

 To effectively address your billing challenges, start by identifying the specific problem you need to solve. Is it solely a billing matter or does it involve other monetization aspects such as: 

• managing pricing, for example, customer-specific prices or various pricing models
• contract lifecycle management, 
• managing billing data, maybe from multiple sources 
  
• managing multiple invoicing and payment channels
• revenue recognition
• lack of transparency and trust in billing and reporting.

Think Beyond Today: Plan for Your Billing Needs 3-4 Years Ahead 

A common mistake is to select a system that is filling the current needs, and maybe those even just. But business evolves all the time and so do the pricing and billing needs. The importance of billing data and analytics is increasing, so ensure you will select a future-proof system to guarantee the pricing and billing capabilities also for years to come.

• Don't settle for a quick fix to your billing problems now. Instead, envision what you'll need in a billing solution several years down the line. 
• A reliable billing system can adapt to new pricing and earning models that you may not have considered before.
• The importance of data is increasing. With data, often usage-based pricing models are also common. So ensure both data and pricing model capability and flexibility for the future.
  

Don't Settle for Less: Test Your Billing System's Use Cases 

When selecting a new billing system, don't just go for a quick demo. Instead, challenge your vendor to show you how their system can tackle the issues that have been causing you headaches. Make sure it can co-exist with your IT infrastructure and prove to be a sustainable fit for your business in the long term. 

Get to Know Your Billing System Provider 

Before committing to a long-term partnership with a billing system provider, take the time to ensure they are a fit for both your business needs and your culture. Building a strong relationship with your vendor is paramount to the success of your investment. 

Who are the key contacts, and can they offer the services you need in a fashion that fits your needs? Often this is overlooked in systems selection but turns out to be crucial for the rollout success. Give the relationship some thought in the selection process. 

Get Ahead in Business with Agile Billing Automation 

Traditionally, managing pricing and billing becomes a complicated part of your business. With an agile billing automation solution, you can tackle this complexity with ease. Good Sign Pricing and Billing Automation Software adapts to new business models, helps you manage change, and enables you to scale your services and handle new offerings quickly and seamlessly.  

 Good Sign is an agile billing automation solution that is future-proof and ensures optimal client relationships, allowing you to keep track of cash flows and predict service profitability. Additionally, it puts your contracts in the spotlight, allowing for a quick change without the need for a major ERP overhaul. 

 By capturing all your contracts in Good Sign, you can benefit from endless monetization possibilities. Say goodbye to cumbersome processes and outdated woes, and hello to an automated, scalable system - where the promise of service is truly fulfilled. Don't miss out on the potential to grow your business with agile billing automation.

Watch these short videos about Good Sign Billing Automation:

TAKE US TO THE TEST!

If you feel your recurring revenue billing system needs more agility,  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.

If you have any questions, do not hesitate to contact us!