Taija Engman, with her dog Bea, talks about how manual processes in pricing and billing cause delays and errors.
When any service content, change and price-related aspects of a contract are left to manual administration, it easily means costs, delays, errors, revenue leakage, and more customer complaints.
Most companies in the recurring revenue business suffer from too much manual work and slow cash flow.
If you run a recurring revenue business model or if you are introducing new subscription-, pay-per-use- or contract-based business, you likely face this pain point of too much manual work and slow cashflow in your business.
What is too much manual work?
- Often at least 10 persons are tied to repetitive, manual billing data collection, billing assurance, and sorting billing complaints per each 100 million of recurring revenue. Sometimes even 20 people per 100 million of recurring revenue with more complexity in service agreements.
- This tedious manual work is also error-prone.
- Cash flow is slowed down in average by two or three weeks due to manual steps in billing process, like data collection related to billable items and billing accuracy assurance and open complaint handling.
- Sometimes significant parts of the billing are repeatedly delayed by a month or more.
We hear this a lot in service business. It is not easy to handle continuous services with current IT systems.
Good Sign Software can collect all billable items and apply all pricing and billing rules in your recurring revenue business, no matter if standard or customer-specific.
Let us know and get a chance to win a 500€ Gift Card
If you want to know more about these pains, stay tuned for these video blog episodes. Taija talks about the five most typical pain points in recurring revenue business. When you want to solve your challenges in recurring revenue, make us keep our promise that our software can remove these pains from your business.
TAKE US TO THE TEST
If you feel your pricing and billing needs will outgrow your current billing solution, or if you are just curious to learn how Good Sign Software 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. Scalability for your next business opportunity is closer than you might think.
We help our customers solve existing pain points in monetizing service contracts and managing subscriptions and pay-per-use services. We help companies freely grow scalable services.
Feel free to contact us and let’s have a chat on how we can support your company.