Major shifts in the market are happening faster than ever before. To stay competitive, finance leaders are on the hunt for revenue streams: looking for ways to turn products into services and services into products, or repackaging existing products and services in creative ways. The result is often a blend of revenue streams from products, subscriptions, usage-based models, and a wide variety of services. But without the right billing systems in place that can support complex billing models, these positive efforts could easily stall. That’s why finance teams are all turning to flexible, extensible billing systems like the one from Certinia.
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Flexible billing systems allow organizations to more holistically manage multiple revenue streams and simplify complex billing and invoicing processes across different revenue models. Subscription services, consumption/usage-based, and billing for tangible goods can all be supported by one system. Companies can bring products and services to market faster, and collection managers will be more efficient.
Whether you are a professional services firm, a software or technology company, or even a business offering tangible goods as a service, the right subscription and usage-based billing makes it easy to close the books quickly and accurately. It’s not just about making your finance team happy. It’s also about giving your customers a seamless, personalized billing and invoice experience so they can process billing and payments the way they want—no matter the revenue stream.
With all revenue sources flowing into the back office AR system, you can improve cash flow while reducing errors and days to close the books. And with financial data automatically mapped to the same customer records in your CRM, pricing and performance obligations are consistently captured upstream, making compliance with new revenue recognition standards like ASC 606, IFRS 15, and AASB 15 even easier.
With the master customer record as your single source of truth, you get full visibility into the entire customer lifecycle from opportunity to renewal. That means every business process and every report can be a part of the same system. Eliminating integrations and points of potential failure, you’ll have more confidence in the fidelity and accuracy of your data and reports.
Trusted by more than a thousand global companies, from household names in the enterprise to small and medium-sized businesses, Certinia Subscription and usage-based billing is built to deliver enterprise performance. Tap into powerful out-of-the-box features, and then rapidly extend and personalize the solution to your specific needs. With the #1 cloud platform underlying your most critical business processes, you can confidently reduce risk while empowering your teams to be even more successful.
If you are looking for a billing solution to help you grow profitably in the new services economy, while offering a seamless billing experience for your customers, register for a personalized demo here.
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Embrace new business models with confidence with cloud-based billing from Certinia. Both powerful and agile, this solution is designed to support even the most complex contracts in one closed-loop process.