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How to Choose a Cloud Billing Platform

  • How to Choose a Cloud Billing Platform-
    In order to have the flexibility your company needs to quickly change its monetization strategy and offer different recurring revenue models, the following functions are essential:

    1. Support for a range of monetization strategies – including moving with ease from a free trial to a paid subscription to offering bundled products or services
    2. Support for different pricing plans – from a flat-rate monthly recurring fee to a usage-based quarterly fee, as well as automatic activation processing and cancellation fees
    3. Channel management – to combine offerings in meaningful ways in different regions or for specific types of users
    4. Entitlement management – to direct which customer has rights to which products/services, as well as usage tracking to determine what each customer is using and owes
    5. Reporting insight – to understand how customers are experiencing your product/service, enabling the identification of new marketing opportunities
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How to Choose a Cloud Billing Platform

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  • How to Choose a Cloud Billing Platform-2
    In order to have the flexibility your company needs to quickly change its monetization strategy and offer different recurring revenue models, the following functions are essential:

    1. Support for a range of monetization strategies – including moving with ease from a free trial to a paid subscription to offering bundled products or services
    2. Support for different pricing plans – from a flat-rate monthly recurring fee to a usage-based quarterly fee, as well as automatic activation processing and cancellation fees
    3. Channel management – to combine offerings in meaningful ways in different regions or for specific types of users
    4. Entitlement management – to direct which customer has rights to which products/services, as well as usage tracking to determine what each customer is using and owes
    5. Reporting insight – to understand how customers are experiencing your product/service, enabling the identification of new marketing opportunities

According to a recent Incyte Group report, nearly half of all businesses in the United States currently have or are in the process of developing and/or investigating recurring revenue offerings. Unlike traditional business models, which are built around one-time transactions or upfront fees, recurring revenue offerings focus on smaller, ongoing, subscription-based transactions. As more companies develop these types of offerings, they are increasingly shifting from on-premise software to the cloud for a billing platform to monetize and manage their subscription-based products and services. Derek Choy, vice president of engineering for Aria Systems, offers the following tips for choosing a cloud billing system.