Revenue is the result of doing things right. After hard-fought sales battles, optimized production of service processes, and client satisfaction, the moment comes to reap the benefits of the hard work.
The funny question here: what is the costliest part of your business process? Chances are, it could be your billing process.
Like a broken tap, revenue might be slowly dripping out of your company at the billing department. And you might not notice it.
We call that revenue leakage. It occurs when you fail to bill all items of the services or products you offered your client. Especially services are prone to revenue leakage. Typically, the work hours come up after the bill has already been sent.
Studies show that especially service businesses miss about 10% of revenue due to revenue leakage. Imagine what additional 10% revenue means in terms of profitability. Now we are talking serious numbers. And in today’s world, that is a big gap in your business optimization.
If revenue is the result of doing things right, clearly revenue leakage means that something is seriously wrong. And today, with IoT data, RPA processes, and billing automation, it is also very unnecessary.
The future of billing automation will include payment and customer experience. Clients will demand transparency in all processes. Billing automation is mandatory to provide that transparency.
But in fact, you need that transparency yourself as well.
A good billing automation solution not only ensures you capture all billing items but also does so in real-time. Not just after the month has ended. Allowing you to steer your business where needed. And allowing your clients to see their consumption in real-time. This is what we call agile billing. A flexible billing system, that ensures seamless billing processes, overseeing all billing data and making your billing watertight.
If you feel your billing needs will outgrow your current recurring revenue billing solution, or if you are just curious to learn how Good Sign does things differently, feel free to take us to the test! We will gladly take on your challenge and prove to you it can be done, and that the new world lies beyond just subscriptions.
Feel free to contact us and let’s have a chat on how we can support your company.
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