Challenge
revenue leakage, error-prone manual work, and lack of transparency in billing
OpusCapita was reorganizing the quote-to-cash process of its service business and harmonizing its service offering. The problem was that pricing and billing of its contract-based services related to source-to-pay, cash management, and invoice receiving processes was relying too heavily on manual processes and caused revenue leakage. In addition, OpusCapita did not have transparency to actual service event data. Neither was there a proper way to handle customer-specific prices and billing schedules.
Targets for the project:
- Increase revenue by stopping existing leakages due to lack of communication
- Reduce human errors in manual invoicing
- Reduce costs associated with manual invoicing
- Improve customer experience through accurate, customer-specific, and clear invoices
- Ensure scalability and flexibility to support and shorten the time to market with new service concepts
- Enable upselling and better customer service by providing transparency to contracts and installed base – the “digital twin”
Solution
automated pricing and billing of current and future services
Good Sign delivered a solution to automate the pricing and billing of OpusCapita's contract-based products related to source-to-pay, cash management, and invoice receiving processes.
Key functionalities OpusCapita gained:
- Ability to view, track and manage digital customer contract lifecycle and service configurations affecting subscription pricing (Digital Twin)
- Manage country, customer, or contract-specific prices
- Ability to define customer or contract or contract line-specific billing schedules
- Transparency to pricing unit amounts and ability to follow-up changes
- Enablement of fixed, tiered, volume, and block pricing
- Transparency to transaction data (usage events) and traceability to auto-generated charges and invoice amounts
- Consolidated invoices
- Invoice amount grouping based on product types
- One common billing solution for multiple OpusCapita legal entities
BENEFITS
revenue leakage stopped with a transparent billing process
OpusCapita has now a fully automated pricing and billing of their services and they were able to:
- Increase revenue by stopping existing leakages due to lack of communication
- Reduce human errors in manual invoicing
- Reduce costs associated with manual invoicing
- Improve customer experience through accurate, customer-specific, and clear invoices
- Ensure scalability and flexibility to support and shorten the time to market with new service concepts
- Enable upselling and better customer service by providing transparency to contracts and installed base – the “Digital Twin”
With the flexibility and scalability that Good Sign offers, they can get faster to market with new service concepts, manage contract-based products and focus on implementing their customer-centric strategy.
