by Transposh - translation plugin for wordpress

SURE! Blog

Is Effective monetization a key to steer ahead of competition?

By: | Tags: | Comments: 0

12

Nov, 2014

Google

Before we start discussion on this topic, it is important to note that following are the business problems that may get addressed by having a proper monetization solution in place :

  • Delay in  the launch of new services since your billing system is not ready
  • Unable to support new pricing models with your existing billing system due to lack of flexibility
  • Unable to forecast the amount which is going to be billed
  • Complaints raised by customer due to incorrect and inaccurate bills
  • Delays in finishing the month end closing
  • Ineffective way of managing the revenue leakage
  • Huge number of unresolved tickets due to improper customer communication mechanisms and lack of process automation

Established Cloud service providers are moving towards offering their existing on-premise solution as Software as a Service to get higher revenue through accelerated sales cycles, improved closing rates and to lower costs through more cost-effective customer acquisition. Coincidently, the Economic climate has also accelerated the need for software as a service (SaaS) as right-sized, ZERO-Capex alternatives to on-premise applications. Customers are also opting for easy-to-use subscription services, which require investment for current usage of service and not future capacity.

Considering the market dynamics, SaaS, now is moving from a standalone hosted offering to an on-line solution integrated with existing on-premise or other SaaS solutions.  These deployments have become part and parcel of the enterprise environment. SaaS companies tend to concentrate more on market coverage & customer acquisition activities to increase their revenues. One such activity is follow-up with customers for Contract Renewals, wherein Contract renewal process is one of the major cash flow options that pumps-in continuous revenue to the service provider. The success secret in SaaS business is, ‘customer is always a prospect. As such, activities like Managing Contracts, Billing and revenue generation has now become more important and complicated for service provider.  Developing and maintaining a billing, revenue and customer management solution may not be part of their core business objective, which needs a dedicated internal IT resource to continuously manage and enhance the system, which can rather be used for strengthening their core SaaS offering.

Having more than a decade of experience in providing an integrated solution in Billing and Contract Management solutions, SURE! offers its highly successful Subscriber Management & Billing system to SaaS providers for efficient subscriber & contract management, service provisioning and accurate billing followed by revenue recovery options as well. This solution is available on both “Software as a Service” (SaaS) model and on-premise models. 

SURE! meets the needs of complex and rapidly changing software business models in a superior way to that of other enterprise financials, ERP, and CRM solutions. Improved Contract Management, New Pricing or Bundling of Services, Invoicing Process, Dynamic Billing, Prospect Tracking, Quotation, Customer Care & Query Handling and Integrating with existing third party systems are made easy through SURE! . SURE! manages customer renewal and retention process and enables SaaS providers concentrate on their core activity i.e. sales and marketing of SaaS offering and achieve the business objectives.

By : Satish Garikipati

Satish Garikipati is a consultant with SURE! (a Magnaquest product). SURE! is an internationally acclaimed player in comprehensive end-to-end Subscription Business Solutions for PayTV, Broadband and Cloud Computing businesses – through deployment of Metered Billing, CRM, Service Fulfillment, Value-Added Services, and Managed Services.

Leave a Reply