Take Charge with Intelligent Billing

We all love the way our lips curl up into a smile the moment we read ‘Discount’. And nowadays we don’t need a festive occasion to avail discounted offers. Be it spring or fall, Santa on-call or just another day after all, every day, innumerable online shopping platforms have an exclusive discount offer for everyone.

The whole move is towards making a customer’s journey agile, exciting and hassle-free. Added to this, the customers are fast getting digitally aligned with high-speed Wi-Fi connectivity, FTTX and are certainly looking forward to 5G connection to heighten their digital experience.

But in this bid to attract customer attention and gain their loyalty, imagine how complicated and chaotic the billing system is made to facilitate the purchasing spree!! But can a complicated system also be flawless and error-free?

That is where digital reinvention comes into the picture. It brings in the ability to uncomplicate extremely layered and convoluted systems making them organized, user-friendly and revenue generating platforms.

Despite all the offers and discounts on display, revenue generation is the prime goal of any business which makes revenue management one of the most critical components of any business. Traditionally, revenue has only been associated with billing, but the advent of intelligent connectivity, armed with Internet of Things, Big Data and 5G, has broadened the scope of growth for digital service providers (DSPs).

These platforms not just deftly consolidate bills from various offers and different services that a customer avails from different platforms, but also give an insight into the buying behaviour of the customer. It simplifies billing processes with total transparency which is much needed for any DSP.

These platforms also helps in understanding the exact needs of the customer to offer personalized service, promotions and discounts tailor-made to suit their needs. This way, a DSP gains customer loyalty while also grabbing the attention of distracted customers in a crowded market.

Furthermore, such platforms also play an important role in the way DSPs introduce new products and services and gives the flexibility to flawlessly on-board hundreds of services each day. These future-ready cloud-based platforms are designed with the architectural principles that can embrace new business models and help DSPs to think beyond the risk factors.

That’s not the end of it!! The growth of any organization depends on the analysis of the business. The billing and revenue management platforms intelligently monitor every aspect of the business and generate a detailed analysis of every module pointing out the trajectory of every product launch, the growth of existing products and the impact of various impromptu changes made to the product offing during the process. It helps the DSPs to identify their strengths, weaknesses and loopholes in the system to make amends with proactive measures.

In this wave of digital reinvention, the next-gen platforms like billing and revenue management help a DSP to stay profitable, competitive and relevant to the customer while helping you digitally reinvent yourself at minimum cost and risk.