As many resellers and/or service providers will corroborate, billing is one of the most challenging aspects of selling telecom products and services. With the market in a constant state of change, especially due to the growth of cloud computing, companies need to lock in an industry-leading telecom billing platform to ensure recurring revenue, simplify product management and strengthen customer acquisition and retention.
If you’re in the market for an advanced cloud billing platform—research shows that over 40 percent of IT execs are looking to spend more on SaaS/cloud based solutions in 2015—Cloud Innovation Suite (CIS), BlueOSS’ fully integrated billing as a service (BaaS) solution, could be ideal for your organization as you approach a new year full of new selling opportunities.
At BlueOSS, our goal is to help you better manage revenue and increase recurring revenue. We want you to lock in cash flow by identifying innovative revenue streams and keep customers satisfied and coming back. Achieving these goals is accomplished largely with a strong billing platform in place—one that can seamlessly facilitate core business processes and backend operations. Whether you have heard about our award-winning telecom billing software solution or not, here are three competitive capabilities of CIS to get on your radar:
- Recurring revenue management: Recurring revenue is critical for carriers and providers, but traditional accounting systems unfortunately can’t manage recurring revenue with as much transparency as a cloud-based system. That’s because these types of systems (e.g., QuickBooks, Oracles, SAP) were initially designed to only manage general accounting practices, like balance sheets and simple cash flow calculations. They are not equipped to handle real-time transactions, which can become more complex.
- Business intelligence and analytics: In addition to cloud technology, IT execs are looking to spend more on business intelligence (BI) and analytics. A software-based telecom billing solution is able to easily integrate BI and analytics for identifying customer purchasing patterns so that products and services can be sold more strategically to accrue more revenue. CIS’ BI engine also runs analytics on cost data to actively reduce cost of goods sold; in fact, our customers tend to save an average of 17 percent on their cost of goods sold, improving their margins.
- Cost reconciliation: Cost reconciliation ensures organizational viability and longevity, as it guarantees your company is bringing in the most revenue possible and holding onto its hard-earned dollars. This feature is a relatively new capability added to CIS, allowing partners to analyze the usage of services sold against services provisioned. This enables them to realign their strategies to improve margins and, subsequently, increase cash flow and recurring revenue.
We have seen just how a strong telecom billing solution can fuel a company’s growth trajectory. Click here if you would like to explore CIS further!
Cloud Computing, Business Analytics Listed as Top Areas of IT Spending for 2015
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