Choosing the right billing system for your business

The billing system is one vital point that you provide your customer to keep holding hands with you. The reminder and ease of making the bill payment are significant from a customer stand point. Is this becoming a challenge for you as a vendor to provide your user an optimized billing system?

The key issues faced by subscription-based businesses:

1. Customer management: The more the customers, more is the management that would be required.

2. Invoicing: You cannot keep a consistent invoicing for all your subscribers. Some may have subscribed for one month, and some others may have done so for a year. So, you need to provide them a customized invoice.

3. Secure payment: The payment options you provide them should be safe for you as well as your subscribers. With cyber-crimes around, one needs to be very vigilant.

4. Pricing plan management: You need to keep updating and changing the plans with offers. It becomes a challenge to design them and maintain.

5. Failed transaction management: When a transaction fails, the banks/payment gateways concerned will notify you as well as the customer. It needs to be optimized in such a manner that you do not miss the payment timelines.

6. Discounts and promotion management: To keep the customers loyal to your service, you need to outwit the competition. For that, you need to support your business with discounts and promotions to keep your customer base with attractive offerings.

7. Multi-currency and language support: Your subscribers can be present across the globe. Therefore, you need to keep a global currency acceptor platform and language support too.

Demands that operators face from customers:

Your customers have become very demanding. They want their needs to be met. If you fail in accomplishing this, they tend to move to your competition:

1. Customization: Although when you create the package for your customers to subscribe, you need to focus on all the types of scenarios. There is a possibility of a few subscribers may demand additional services. For instance, if you are a DTH operator and you offered a package of Rs 285 with 199 channels, the customer may demand 201 channels for the same price.

2. Discounting: Almost always a customer wants to get the lowest price, for they may not understand your subscription business, model.

What are the future demands that may come up in the market?

The future demands for you as a subscription provider are:

1. The market may require services like OTT that are running on user choice entirely and are cheaper.

2. The market may demand Apps for the use and online streaming too.

3. With online streaming of shows turning out to cheaper, the competition may push you further to slash rates further.

How does the choice of an intelligent billing system play a vital role?

Choosing an appropriate billing system plays a crucial role in your growth. The billing system is one revenue source for you. When it's stable, you can concentrate on other aspects to stay updated with technology and competition. Following are the vital points:

1. Timely payment reminders to the subscribers ensure timely receipts.

2. The robust billing system manages your cash flow and reduces the administrative overheads.

3. A strong enough billing system ensures you error-free billing, saving you of any monetary loss.

4. An integration of CRM, CPQ, or ERP and Finance systems provides quick turnarounds.

5. Reporting becomes cleaner and easier to verify, and supervise.

EZY bill is an ultimate billing tool to take care of all your Subscriber Billings:

1. Easy and safe payment system ensures a smooth billing process to regular and periodic payments.

2. The EZYbill platform сombines expenses on all the sites and provides subscriber a comprehensive single bill to analyze.

3. Yоu саn add additional ѕеrviсеѕ and need not worry about how they will have to be handled while billing. Yоu just needs to mention the quantity of the usage. EZYbill will smoothly take care of the billing line item and any additional service.

4. EZY bill manages your growth and helps foster it.

5. It handles all your pre and postpaid billing and addition of taxes addition as per the regional laws.

6. Prе-intеgrаtеd CAS integrates with any third-раrtу aррliсаtiоnѕ too seamlessly.

7. Multi-currency and multi-language operations would be of great help. If you face any challenges with currencies, you can just drop an e-mail to the customer care.

EZYBill is a well adaptive billing system that ensures smooth functioning of billing and saves you a lot of overhead.