As digital transformations advance across various industries, many companies have been forced to confront a stark reality about their existing billing systems. Older, monolithic, on-premises systems are simply not equipped to manage the modern digital products and services these companies want to offer, nor can they support the consumption or usage-based billing models needed to enhance customer loyalty and accelerate revenue growth.
Enterprises are increasingly turning to cloud billing software that offers modern subscription management capabilities, can be integrated into an existing technology stack, and can scale on-demand and be reconfigured, without breaking the bank or delaying growth opportunities.
What is cloud billing software?
Cloud billing software allows consumer and business enterprises to more easily manage subscribers, invoicing and payment collection for static or customizable products, services, and packages. Often delivered via a SaaS model, companies that use native-cloud billing software can create invoices, track payments, and manage all customers from a centralized location. Dedicated cloud billing platforms also integrate easily with the most popular business support systems, such as CRM and ERP, making it easy for enterprise stakeholders to manage all facets of their commercial responsibility via a platform designed around their departmental role.
What are the advantages of cloud billing software?
True cloud-native billing software is easy to deploy and offers significant cost savings, compared with on-premises billing systems or traditional billing systems simply ported to cloud infrastructure. Cloud billing solutions offer a flexible and efficient way to configure and manage all products, billing, payments, and subscriber needs at scale. Unlike software systems installed on-site or ported to cloud infrastructure, clients of native-cloud billing solutions receive continuous updates from their billing provider as new features are introduced, meaning that they are always using the latest version.
Enterprises that leverage the power of a cloud billing platform gain access to a wide range of advanced features, including automated invoicing, integrated payment processing, and financial reporting. Additionally, cloud billing platforms provide real-time billing analytics and AI features that deliver insights into customer behavior that can be used to inform business decisions.
Finally, cloud billing platforms enable enterprises to offer a more rewarding customer care experience where subscribers can access user-friendly self-service portals to make changes to subscriptions or get answers to inquiries quickly and accurately using embedded AI tools.
What are the key features of cloud billing software?
Scalability is the key feature that differentiates cloud billing software from legacy billing systems. As businesses evolve, introduce new products or services, and attempt to generate new revenue streams from non-traditional partnerships, cloud billing software has the agility and flexibility to support all phases of growth and expansion. Additionally, these platforms allow enterprises to configure billing rules, offer a range of fixed or usage-based pricing models, generate advanced reports and analytics, and automate many of the invoicing and payment processes previously done manually, reducing the risk of errors.
The ability of these platforms to fully leverage open and cloud-native architectures means that they can easily integrate the latest innovations, such as AI, enabling efficient access, seamless adoption and continuous scalability, while optimizing performance and cost-effectiveness.
How can businesses choose the right cloud billing software?
In recent years, the marketplace for cloud billing software has become more crowded. When evaluating options, enterprises should clearly outline their billing and subscription management needs and determine whether the platform in question can not only meet those needs today but can scale to continue meeting them in the future.
Prospective buyers should look for a provider that offers a range of configurable options that allow for varying pricing models and billing cycles. The platform should integrate easily and work seamlessly alongside existing solutions within the technology stack, including legacy billing systems. Buyers should ensure that the provider has a trusted reputation, will be available to provide support and service long after the initial implementation is complete, and has solid financial footing that will allow for continued investment in the solution. Finally, buyers should review if the provider is using AI and on-demand real-time processing to deliver the latest advances in employee productivity and customer experience.
Why should businesses choose Aria Billing Cloud?
Aria Billing Cloud offers the modern and agile native-cloud billing capabilities enterprises need to successfully accelerate revenue growth as they introduce new products and services. From fixed subscriptions to pricing models based on usage and consumption, Aria offers a range of configurable options and can scale through all phases of growth. Aria Billing Cloud can be implemented easily in a matter of months. Through Aria Billie™ and its always-active architecture, Aria leverages generative and predictive AI to deliver billing-related conversational commerce that elevates customer experiences, increases employee productivity and enhances loyalty.
Learn more about Aria Billing Cloud
