Business and Management

Get Sophisticated Billing Solutions

Data models in more complex billing solutions offer the flexibility to adapt to an enterprise's existing business model.

These billing systems are often designed as platforms rather than applications that integrate with existing data tables and allow companies to create new product relationship hierarchies.

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As some billing solutions are rigorously designed, any need for customization entails an expensive service commitment with a billing solution provider or a third-party provider.

When looking for the best billing solution, consider your future needs. Billing systems that offer easy configuration of plans, products and business models are preferred for companies anticipating future changes.

A system that provides configuration, rather than requiring special coding, allows you to eliminate your dependence on expensive developers.

After all, a flexible billing system should allow you to easily configure an intuitive user interface – without IT intervention.

While simple billing systems can automate simple billing plans (for example, if all customers are billed the same monthly fee for the same service), they cannot handle more complex billing schemes.

Companies with multiple product offerings and those whose rating schemes cover multiple attributes need a more stable billing system.

Likewise, companies involved in mergers or acquisitions need a complex yet an easy-to-use invoicing solution.

Mergers and acquisitions usually result in new offerings for the company and billing decisions must be able to monetize the offerings separately and differently.