How Billing Can Be A Showstopper In Your Time To Market
New Models, New Pricing, New Billing? Todays’ innovation pace is faster than ever before in history. That is reflected in the record time...
2 min read
Petri Takala : Sep 17, 2021 8:45:00 AM
Since MIT offered the first Managed Service Provider (MSP) functions in the ’60s, the industry has grown and evolved tremendously both in revenue and in the offering. Today, the MSP business represents a 242,9 billion dollar market and it is expected to grow to 354,8 billion by 2026 (1).
What makes MSP billing special, and how can you, as an MSP, capitalize on the growth with the right billing? We cover these topics in this blog.
As the role of an MSP changed from problem solver to enabler to trusted advisor in IT, so did the pricing and billing portfolio they offer to their clients.
Many MSPs find themselves with:
All these variables must be processed and presented in an efficient way. But it is not just a burden. In its recent study, CompTIA describes the pricing opportunities MSPs have to better align with their customers (2).
When talking to COOs of MSPs, we typically find that their operational processes are highly optimized. The service catalogs and service databases are up to par, the RMM and ITSM systems fully operational and their teams are well managed and professional.
The issue is translating all these elements from contract to billing items. Leveraging and integrating the existing data flow into billing and automating billing events is the key to successful cash flows and quick integration of new services and pricing.
An optimized billing solution should be fully integrated with your operational tools. It should also allow for pricing changes and have the flexibility to comply with pricing rules from third parties, for example, for Microsoft billing.
As a result, you'll have real-time insight into the charging process for every contract at any time of the month. This way, your clients can proactively gain insight into their spending.
Increased transparency will strengthen trust and reduce questions about invoices, leading to quicker cash flow.
Read more about:
If you feel your billing needs will outgrow your current 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.
New Models, New Pricing, New Billing? Todays’ innovation pace is faster than ever before in history. That is reflected in the record time...
Yes, you want recurring billing, but your ERP and legacy systems do not provide the pricing and rating flexibility to cater for subscriptions and...
Billing Really Is Part Of Your Customer Process Over the past 10 years, the CX landscape has changed dramatically. Where older CRM systems handed...