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Cloud Billing : Every thing you need to know about Cloud Billing Providers

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Cloud Billing Market

According to a new market report, “Cloud Billing Market by Type (Embedded, Subscription, Convergent, Metered, Professional Services, Cloud Service Billing, and etc), Service Provider (Cloud, Communication, MSP & Network Operator) – Global Forecast for the period 2015 – 2020”, released by MarketsandMarkets, The Cloud Billing Market is expected to grow from USD 4,550.0 Million in 2015 to USD 14,600.0 Million by 2020, at a Compound Annual Growth Rate (CAGR) of 26.3%.

Ref : MarketsandMarkets

Cloud billing has completely changed the way traditional billing system works by making it compatible with cloud technology. Modern cloud billing systems help many firms monetize the cloud services and bring along the benefits of cloud technology.

These cloud billing solutions are proved to be scalable & flexible, further addressing the growing requirements of the companies, concentrating on addressing the billing processes and improving the customer satisfaction levels.

One of the main benefits of cloud billing services is cost effective alternative for organizations. Cloud billing has many other advantages such as transparent charging and rating, hassle free management of large volume of data in real-time, and bringing in billing expertise.

In short, cloud billing allows the businesses to focus on their core objectives.

The major drivers of the cloud billing market are the increasing demand for lower capital, enhanced billing operations, centralization & convergence and operational expenses as well.

Currently, the cloud billing market facing challenges such as security threats & legacy architecture for complete flow. The major factors hindering the growth of the Cloud billing market are time consumption and higher on-going maintenance, as per the report.

Ref : MarketsandMarkets

By : madhusudhan rajula

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