Akanksha Malviya, Author at AcuitiLabs

Insights from the Q2C Summit 2024: Transforming Quote-to-Cash Processes

On October 24, 2024, industry leaders gathered at The Shard in London for the highly anticipated Quote-to-Cash (Q2C) Summit 2024. This event brought together experts from various sectors to discuss the latest trends, challenges, and innovations in the Q2C process. Here are some key takeaways from the summit.

Welcome and Opening Remarks

The summit kicked off with a warm welcome from Manoj Harbhajanka, CEO of Acuiti Labs. He set the stage for a day filled with insightful presentations and discussions aimed at transforming Q2C processes to drive business value.

Strategic Value Creation Through Pricing

Alex Dumbell, Managing Director & Partner at Boston Consulting Group, delivered an inspiring presentation on the transformative potential of value-based pricing. He emphasized that while B2B players face challenges with internal processes and analytical capabilities, adopting value-based pricing can significantly enhance their commercial agility. By aligning pricing models with innovation and customer investments, companies can achieve a noticeable bottom-line improvement.

Q2C Process Transformation: Perspectives and Success Stories

The summit featured several sessions on Q2C process transformation, including:

oCFO Perspective by SAP: Kristianne Perry from SAP discussed the strategic importance of Q2C transformation from a CFO’s perspective. Putting emphases on the need for greater capabilities in automating quote-to-cash processes to enhance financial resilience and agility.
Automating Quote-to-Cash by DigitalRoute: Andreas Zartmann, CEO of DigitalRoute, shared insights on the growing importance of flexible, digital Q2C solutions in the subscription economy. He highlighted how automation can lead to significant reductions in operational costs and improvements in customer satisfaction.
Q2C Transformation – Maximising Enterprise Value by Acuiti Labs: Manoj Harbhajanka, CEO of Acuiti Labs, emphasized the strategic priorities of customer focus, agile pricing, and digital innovation as essential drivers of an optimized Q2C process. He showcased how these elements boost efficiency, enhance customer experience, and maximize enterprise value.
Q2C Transformation Success Stories: Representatives from Criteo and Posti shared their success stories in transforming their Q2C processes. They discussed the challenges they faced, such as revenue leakage and high DSO, and how they overcame these issues through innovative solutions and strategic partnerships.

Fireside Chat: Maximizing Enterprise Value

The day concluded with a fireside chat featuring industry leaders, including Manoj Harbhajanka, Kristianne Perry, Andreas Zartmann, and Abdelkader Bahedi from Criteo. They discussed the future of Q2C transformation and the role of advanced technologies in maximizing enterprise value.

Key Takeaways

Value-Based Pricing: Emphasizing value-based pricing can significantly enhance profitability by better aligning pricing models with customer value and innovation.
Automation and Digital Solutions: Implementing automated Q2C processes can reduce operational costs, improve accuracy, and enhance customer satisfaction.
Strategic Partnerships: Collaborating with technology partners and leveraging advanced solutions can help businesses overcome Q2C challenges and drive growth.
Customer-Centric Approach: Understanding and addressing customer needs throughout the Q2C process is crucial for maintaining competitive advantage and fostering long-term relationships.

Conclusion

The Q2C Summit 2024 provided valuable insights into the evolving landscape of quote-to-cash processes. By embracing value-based pricing, automation, and strategic partnerships, businesses can transform their Q2C processes to unlock new revenue streams, improve efficiency, and enhance customer satisfaction. As the market continues to evolve, staying ahead of these trends will be key to achieving sustained growth and success.

24 SepBusinessSAPTechnology

Boosting ROI with CLM Software: The Strategic Advantage for Growing Businesses

In today’s highly competitive business environment, effective contract management can make the difference between staying still and experiencing substantial expansion. Contracts are more than just legal documents; they represent the backbone of business relationships, revenue, and compliance. Nonetheless, managing contracts manually or with inefficient systems can drain resources, lead to delays, and result in compliance issues.

Below listed are a few reasons why businesses find it difficult to manage contracts –

Contracts management take significant time to copy, file and store which businesses fail to give and thus the process becomes difficult for them.
There’s no streamlined process to keep a track of price and payments which creates revenue loopholes.
Lot of time consumption in approval process from various ends can put a wrong impression on the customers and can also make you less valuable in their eyes
If working without a proper CLM software, split management can result in incorrect and incomplete information or even overlook policy compliance.

Introducing SAP Contract Lifecycle Management (CLM) software, an advanced solution created to simplify and automate the entire contract management process. Choosing SAP CLM can be very helpful in overcoming all the problems that you might face and can also be helpful in improving cost savings and efficiency of your business. Businesses that adopt SAP CLM not only achieve greater oversight of their contracts but also significantly enhance their Return on Investment (ROI). In this blog, we will delve into how SAP CLM can function as a strategic instrument for growing businesses and how it helps organizations in optimizing their resources.

Benefits of Using CLM (contract lifecycle management) for your business

Here are certain ways through which you can understand the use of automation software and how it can benefit your business with contract lifecycle management (CLM):

1. Standardized and managed process right from start to end

Many businesses struggle with inconsistent handling of contracts, as they often go through different departments and systems from initial requests to approvals, negotiations, and post-execution. You need to first properly understand how the complete process of customer lifecycle management works. We can take an example of following steps that a CLM could involve:

The first step is ‘generating a quote’ with the help of CRM (Customer Relationship Management system) that you might be using.
Next, you will be sending over an e-sign document to bind the contract.
Further, you might have to carry out the operation of making the sale and supplying the product
Once all this is done, you will store your contract in a database
And at the last, you will book the contract using Enterprise Resource Planning (ERP) and keep track of your contracts from there.

CLM, instead streamlines all contracts based on the business’s operations thus helping you in managing multiple applications like separate CRM and ERP software from the same place. By doing this, you will be able to manage all steps of all contracts in one single program, where the collaborating with your partner or client becomes faster and you can also easily manage and track different tasks.

CLM minimises your chances of missing any deadlines and also provides access to required information from any part of the process just with a few clicks.

Additionally, the transparency of a standardized process enables businesses to assess performance and identify bottlenecks in their contract management workflow.

2. Minimizes the Requirement and Dependency on Manual Tasks

Managing contracts manually consumes a lot of time, is prone to errors, and can result in expensive mistakes. Whether it involves keeping track of contract renewals, handling approvals, or staying compliant with regulations, manual processes place a heavy burden on legal and procurement teams. SAP CLM reduces the need for human involvement by automating routine tasks.

CLM is the best solution to automate the complete manual process and streamline it in the following ways:

An auto-generated contract sent to the customer to sign based on the quote that has been selected
Approval and renewal notifications are sent to the appropriate people and applications in charge of moving the contract along once the task is complete
Contract is automatically updated and stored in the database once it has been signed by the customer.

Automating activities like generating documents, approving contracts, and sending reminders for renewals or obligations not only cuts down the time spent on administrative work but also reduces the risks of human error. By shifting the focus from manual, repetitive tasks to more valuable activities such as negotiation and building relationships, businesses can boost productivity and improve the quality of contracts.

3. Automate everything between and after first and last step of the contract

The above two steps clearly signify how CLM can imitate the contract procedure and manage it smartly for you. Though, these steps are covering up the entire process of managing a contract, there are many businesses that need to be smart enough while taking care of a few little details that they might come across before and after the first and the last step of the contract.

For instance, the setup of workflows can automatically initiate contract approvals when specific conditions are fulfilled. Likewise, stakeholders can receive notifications as important contract milestones are nearing, guaranteeing that no crucial deadlines are overlooked. Automating post-execution tasks like performance tracking and contract audits also improves the effectiveness of contract management.

This degree of automation not only accelerates contract processing but also ensures that all tasks are completed on time, decreasing the chances of non-compliance and missed opportunities.

4. Streamlined Process of Personalizing Contracts

Customizing contracts to meet the distinct needs of the parties involved is crucial. However, manual customization of contracts can be burdensome, particularly for businesses managing a high volume of contracts. SAP CLM provides a simplified method for customizing contracts, allowing businesses to effortlessly adjust contract templates to match specific requirements.

Contract Lifecycle management software along with easy tracking options also offers advantages like:

Transparency: When using CLM, you don’t have to worry about where and by whom the contract has been drafted. The details of the contract will always remain easy to track so there is no pressure on manager of going back and forth to manage the contract.

Effectiveness: Using CLM increases efficiency as you and your customer will get alert notification about the latest drafts that are being used so that both the parties are not wasting time on the incorrect draft.

Accuracy: Stay more accurate as any manual or automatic change is always being tracked, documented and automatically stored along with all the previous versions.

5. Measure and stay updated about the Success of your contract

SAP CLM that you can use for the Contract Lifecycle management of your business comes with an analytics tool which will help you in having a 360-degree view of your success. It is very important to keep a track of how your contract is moving and how is the progress and this can be easily done with the help of SAP CLM Software. Here are a few ways how CLM software with the help of already installed analytical tool can help you in managing and tracking the whole process of contract signing or renewing:

The software can easily find out steps in the process that are taking too long for the approval and get them wrapped up quickly.
You can also check for step that require permanent changes in a pricing model.
You can also remain updated about any change that customer might want to make in the e-sign document that needs your attention.

The CLM software keeps you ahead in the race so that there is no delay from your end when it comes to signing the agreements of making very important changes in contract’s lifecycle early on. This makes it easy to verify whether or not that particular contract is helping your business to reach the planned goal. By this it will be easy for you to determine if there is any serious change that you have to make in the process or even you have to continue working on the project. This is very helpful at the time when your business is dealing with a large number of complicated contracts.

Reasons to Implement Contract Lifecycle Management (CLM) Software for your Business

Saves money and Time: When you choose good CLM, there are less chances that your business will have to deal with issues like penalties for non-compliance, missing important opportunities from special terms and rebates, missed payments or other payment errors, incurring fees and other penalties. This is all handled in the right manner because of good contract administration thus saving a lot of money and valuable time for you. CLM helps in simplifying processes in the contract administration and thus saves a lot of time and cost.
Prevent any legal process from contract non-compliance: There are many contracts that deal with a major of compliance. If contractual commitments remain incomplete, the potential for legal action can be higher. Good CLM software prevents you from any such situation.
Deliver best to your customers: Being a business, what else would you need than fulfilling and exceeding your customer demands and expectations. This is only possible through a planned contract performance that can enhance any organization’s value and lead to better customer relationship.
Justifies the difference between the functionalities of contract managers contract administrators: Contract managers and contract administrators are different and are assigned to do different tasks. CLM software helps in letting them do their tasks the best, thus saving time and it also avoids any confusion that might occur.

How Acuiti Labs can help?

From contract drafting, it’s management, to its completion, SAP CLM software that we provide at Acuiti Labs is capable of supporting businesses to simplify their entire process of Contract Lifecycle. So, choose SAP CLM (Contract Lifecycle Management) for your business today and see how it plays an important role in closing deals faster and growing your business. Contact us for more details about CLM and Acuiti Labs.

Our team works closely with you to tailor SAP CLM according to your workflows, ensuring that all aspects of your contract lifecycle are optimized for maximum ROI. We focus on automating manual processes and providing support to ensure that you can fully leverage the potential of SAP CLM software.

Why Choose Acuiti Labs?

Proven expertise in SAP solutions.
Tailored CLM implementations designed for your business.
Comprehensive support and training throughout your SAP CLM journey.
Focus on delivering measurable results and boosting ROI.

If you’re ready to take your contract management to the next level, reach out to Acuiti Labs today and discover how SAP CLM can transform your business operations.

27 AugBusinessSAP

Master SAP Subscription Billing & Revenue Management for Maximum Profitability

The subscription economy is booming. According to a report by Zuora, the subscription economy has grown by over 435% in the last decade. Businesses across various industries are shifting from traditional sales models to subscription-based offerings to build recurring revenue streams and foster long-term customer relationships. This shift is evident in the success stories of industries like media, telco, port, postal, who have revolutionized their industries with subscription models. The word subscription is not a new term when it comes to ease the business flow and offer your customers an option of recurring payment for any service or product could be taken with right combination of subscriptions, one-time fees, and usage-based charges.

Today, numerous industries have adopted the subscription-based model, while many others are considering offering their products and services through recurring payment plans.

However, with this shift comes the challenge of managing complex billing processes. Companies must navigate a labyrinth of pricing models, usage metrics, and compliance requirements. This is where SAP Subscription Billing and Revenue Management come into play.

Subscription Based Billing – Win-win for Customers and Business

The SAP Subscription Billing model benefits both businesses and customers. Customers gain the flexibility to select and purchase only what they need, while businesses enjoy a steady cash flow and the opportunity to build stronger, lasting relationships with their customers.

As growth persists, such companies have already started realizing that to maintain and support new and more creative subscription-based offerings, a stronger, more efficient, and flexible billing solution is required. Traditional ERP and CRM systems will not be enough. These systems lack the capability to manage diverse requirements, such as fulfilling recurring billing demands for customers or managing large volumes and real-time competencies linked with the hyper-connected world.

Although the internet can provide information on subscription billing, it is essential to have a proper understanding of the important features of subscription billing to benefit as a business.

Essential Features of a Subscription Billing System

Flexibility : The subscription billing model should be flexible and capable of being easily deployed in the cloud, on-premise, or in a hybrid manner to meet the varying requirements of customers.

Responsiveness :Given the rapidly changing billing requirements, agility is a crucial feature of any billing solution. Businesses require a responsive and powerful system capable of creating any imaginable type of pricing rules within hours or days, not months. The best subscription billing systems are those management.

Real-time and Centralised Pricing Model :An ideal billing system features a real-time and centralized pricing model. It should easily integrate with all systems that require access to pricing and customer information, typically in real-time. Additionally, it must be capable of supporting all subscription products and services offered by a company.

Scalability :In the early stages of adopting a subscription billing model for your business, managing the process may be straightforward due to a smaller customer base. However, as your business expands, the customer count will surge, necessitating a system that can accommodate a vast number of subscribers and handle billions of transactions in a single day. Therefore, scalability is a critical feature of any subscription billing system.

Usage metering :It’s important to recognize that the most basic subscription models typically rely on flat, recurring fees. However, numerous businesses require the ability to track customer usage to effectively manage pricing, discounts, and additional strategies such as upselling. Moreover, usage metering offers the benefits of improved reporting and revenue recognition.

Financials and reporting :  An effective billing solution offers comprehensive management of customer finances and integrates seamlessly with the Backend Accounting Module. Reporting and Business Intelligence should be utilized at real-time speed to monitor the company’s health and growth rate.

When managing the subscription billing process for your business to maximize benefits and growth, it’s essential to have a billing system that is fast, agile, flexible, convergent, scalable, and powerful. Selecting a billing system with these key features will not only guarantee that your business maximizes the benefits from this investment but will also enable you to offer your customers exciting new products and services, enhancing their experience.

Benefits of choosing SAP Billing and Revenue Innovation Management (SAP BRIM)

Selecting the SAP Billing and Revenue Innovation Management (SAP BRIM) solution for your business offers the benefit of agile monetization of subscription and usage-based business models. Enhanced with advanced features such as revenue management and recurring billing, SAP BRIM elevates business adaptability. It also improves transparency across the entire revenue management process, thanks to its dedicated, scalable, agile, and flexible software. The high level of automation provided by SAP BRIM streamlines billing, invoicing, and revenue management operations.

Here are the key benefits of using SAP Subscription Billing and Revenue Management:

1.   Facilitates High-Volume Transactions and Business Scaling : SAP Subscription Billing and Revenue Management enhances support for the Internet of Things (IoT) and connected devices, enabling high-volume, automated, and transparent handling of usage event and financial transactions.

2.    Simplifies the Transition from Product-Centric to Service-Oriented Offerings : Seamlessly shift from selling standalone products to offering comprehensive services, including outcomes-based subscriptions and real-time usage-based services that accommodate revenue-sharing models within your broader ecosystem.

3.    Offers Greater Flexibility in Executing Your Business Model : With SAP Subscription Billing and Revenue Management, you gain the versatility to implement various business models, from prepaid to pay-as-you-go arrangements, employing rules-based automation for precise invoicing and accounting operations.

4. Enables Efficient Partner Revenue Sharing : The SAP Subscription Billing and Revenue Management’s Partner Revenue Sharing feature aids partners in establishing a successful cloud operation with reduced liabilities and risks, ensuring maximum benefits.

Statistics Highlighting the Impact of SAP Subscription Billing and Revenue Management

According to a Gartner report, companies that implement automated billing solutions like SAP Subscription Billing can reduce billing errors by up to 90%.
Businesses using SAP’s revenue management tools have reported a 30% increase in operational efficiency and a 25% reduction in time spent on billing-related tasks.
A study by Forrester Consulting found that organizations leveraging SAP Subscription Billing experienced a 15% improvement in customer retention rates.

How SAP Subscription Billing and Revenue Management Supports Subscription-Based Order Management Management

Here are several key points that illustrate how SAP Billing and Revenue Innovation Management can assist companies seeking an efficient solution for managing their subscription billing processes:

The Automated Approach Guarantees Precision in Delivery and Billing: By systematically capturing and monitoring subscription orders, the automation within SAP Subscription Billing and Revenue Management assures accuracy in both delivery and billing processes.
Streamlines Management of Contract Modifications and Billing Cycles: The system swiftly and autonomously manages contract alterations, renewals, extensions, and billing cycles, thereby reducing the possibility of errors.
Simplifies Oversight of Master Agreements: SAP Subscription Billing and Revenue Management facilitates the management of master agreements, including invoicing hierarchies, bespoke catalogs, and collective credit arrangements.
Enhances Payment Processing Across All Channels: It offers an automated payment system that works seamlessly across diverse channels, coupled with an integrated framework for credit, collections, and dispute management.

Conclusion

In an era where subscription-based services are increasingly prevalent, companies require strong tools to efficiently handle their payment and income management. SAP Subscription Billing and Revenue Management provide an effective platform that not only makes billing easier but also improves customer satisfaction and boosts income. Through the use of this solution, companies can tackle the intricacies of the subscription market and secure their future prosperity.

07 AugBusinessSAP

9 Proven Quote-to-Cash Strategies to Transform Your Business Success

What is Quote-to-Cash, and Why is it Critical?

If you think about the most important business processes today, ‘Quote-to-Cash’ is certainly at the top because it is through the quote to cash process only that you can make driving revenue for your organization easy.

This end-to-end business process encompasses everything from creating a quote for a customer to collecting cash after the sale. You would never want to miss your potential customers by leaving any minor faults in the sales process as being a business, converting a prospect into a satisfied and happy customer is what really matters and this is followed by strong partnership and ongoing trust between you and your customers, right from sales to service. Implementing a robust QTC process can significantly improve various aspects of your business.

9 Actionable Quote-to-Cash Strategies for Your Business –

1. Pricing:

Pricing in ‘Quote-to-cash’ terminology, is understood as a set of rules that decides the most appropriate and suitable price of a deal. Not only the price, but this also includes deciding the right incentives to attract the customers. In today’s time, you cannot just limit to only deciding the correct price, but to drive revenue and win customers, you also have to identify the appropriate discounts, promotions and incentives. Once you understand that what pricing and promotion strategy is working right for your business, you can apply the same strategy for the future deals to win customers and maximise deal size.

Example: A software company adopts a subscription-based pricing model, adjusting rates based on user engagement and market trends. This approach not only enhances customer satisfaction but also increases recurring revenue.

2. Configuration:

When you create the most appropriate combination of products and services, it is termed as configuration. Already with the increased product and deal complexity, it has become very difficult to identify the right combination of products and services to recommend to the customers in order to win deals. Automatically provide recommendations of best configuration to your sales reps to ensure that all your sales reps are now configuration experts – and can crack the best deals!

3. Quoting:

Once done with configuration and pricing, next comes Quoting. Based on the pricing and configuration, a quote is generated and approved which is further sent to the end customer. Quote is the first impression that you share with your customers and is considered as one of the most important stages of your sales cycle. Winning or losing a customer depends on the way you are presenting the quote. Presenting a precise, simple yet quick quote increases your chance to win a deal, while delayed, riddled and complicated quotes often end up losing your customers. So, its very important that the quote you present is error-free and is presented in no time. This creates great impression on your customers and increases your chance to have them onboard.

Example: A telecommunications company uses automated quoting software to provide instant quotes for various service packages. This efficiency leads to higher conversion rates and a better customer experience.

4. Contract Creation and Negotiation:

Without an agreement on the right set of terms and conditions, no deal can be closed. To avoid any situation that might impact your revenue streams, you have to be very careful about the agreement. These agreements usually come with hidden risks and thus to protect your business you should have even the minute details of the agreement. To ensure the security, you need to have experts who are well aware of the built-in clauses like renewal clause or termination clause during the time when contract is created.

After this comes contract negotiation where the terms and conditions can be redefined and altered based on the negotiations. As the agreement document undergoes through multiple iterations, it becomes difficult to keep a track the on-going changes.

5. Executing the Contract

The deal is considered final after it is approved and signed. It is recommended to enable an e-signing tool which is very helpful in reducing the time spent in finalising contracts. This tool also can also be a guideline for any existing roadblocks and parties that have yet to sign.

6. Order Accomplishment:

This process includes the complete order cycle; starting from receiving the order, its processing to the successful delivery. After the deal is done and the contract has been signed, the processing starts, and it’s taken into priority that the products are delivered on time and to the appropriate customers. The advantage of having a Quote to cash solution ensures that the end customer is has agreed on the quotes, pricing and other terms and conditions.

7. Billing and Invoicing:

Accurate billing is done where calculations of final charges is done, and a copy of invoice is sent to the customer. The otherwise critical billing process is made easy with the help of integrated Quote-to-Cash process. The ‘Quote-to-cash’ solutions ensure that the exact quotation and contract details are provided to the finance team so that the customer gets accurate billing.

Example: A subscription-based service provider uses automated invoicing to bill customers monthly. This reduces manual errors and ensures timely payments.

8. Revenue Recognition:

Revenue recognition helps in understanding that the cash from the customer’s end has been received. Here, you cannot afford to go wrong and thus the correct details of the contracting terms like quotes, pricing, payment modes, net payment terms and delivery calendars etc. is passed on to your finance team. ‘Quote-to-cash’ solution is the best way to recognise the revenue correctly.

9. Renewal:

While the revenue recognition is done, your next focus should be on the renewals. This helps in managing customers retention and also the recurring income. If it is the SaaS model, its sure that a huge percentage of revenue is derived in the form of repeated, already existing and subscribed customers. Quote-to-cash is the most important part of your business and will also help you in getting advances in big data and machine learning so that the sales reps are happy, and you can deliver more intelligent sales!

Benefits of Implementing Effective Quote-to-Cash Strategies

In conclusion, the Quote to Cash process is a powerful tool that can transform multiple facets of your business. By streamlining operations, enhancing customer experiences, ensuring accuracy, and providing valuable insights, Quote to Cash can help you drive efficiency, boost revenue, and maintain a competitive edge in the market. Embracing this holistic approach is not just about improving sales; it’s about creating a seamless, efficient, and agile business environment that is poised for sustainable growth.

Why Acuiti Labs is Your Partner for Quote-to-Cash Success

At Acuiti Labs, we specialize in optimizing the Quote-to-Cash (Q2C) process to empower your business with seamless efficiency and enhanced revenue growth. By leveraging our advanced solutions, we streamline every stage—from dynamic pricing and precise configuration to automated quoting, contract management, and beyond. Our expertise ensures accurate billing, timely revenue recognition, and proactive renewals, all tailored to your unique needs. Partner with Acuiti Labs to transform your Q2C process, reduce operational complexities, and achieve a competitive edge in the market.

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15 FebBusinessSAP

Accelerating Business Growth and Revenue: The Impact of Digital Transformation and SAP BRIM Services

To fully appreciate digital transformation and why is it important for your business today, you need to understand how it is influencing & transforming your industry! Whether it’s about engaging with your customers smartly or innovating the workforce with new opportunities, digital transformation is being considered the best investment, for long-term business value.

As per recent studies – worldwide spending on the technologies and services that empower digital transformation will cross $2 trillion by the year 2022, with companies allocating 10% of their total revenue to enhance their digital strategies. This clearly signifies that digital transformation is becoming a fundamental aspect in growing a business. It is estimated that this year, hardware and services will account for more than 75% of all digital transformation spend.

Irrespective of what a company’s vision for future is, digital transformation has become an integral part of all the growing businesses today. An effective strategy can create new competencies by take advantage of existing and upcoming opportunities in latest technologies and also speed up the entire process.

What is Digital Transformation?

Integrating digital technology in all the areas of your business to mostly change the way you deal with your customers in terms of delivery, operations, experience, business models etc. is what digital transformation is all about. It helps you in finding new ways to deliver desired outcomes, generate revenue and increase the efficiency by using innovative and advanced technologies.

Catalyst for Growth: How Digital Transformation Propels Business Success

Learn how you can digitally transform your business models, processes, and the way your company deal with digital economy.

Innovative business models – Whether big or small, working on innovative business model and digitally transforming it should be a priority for every business owner.
New ways of working – With digital transformation you get a lot to explore and a lot to learn, as it offers several new methods and technologies on which you can directly work and experience the difference.
Redesign business processes – The latest digital processes improve customers experience, offerings and increases productivity by working on real-time and predictive insights.

The Critical Importance of Embracing Digital Transformation for Every Business

It is perfectly said by Myles Leach – “The digitalisation of business processes has proven to bring competitive advantage to the organisations who exploit them. Significant productivity gains arise when users can seamlessly communicate with colleagues, customers and business partners anytime, via multiple channels, from anywhere in the world. What was once considered futuristic thinking is part of the mainstream today”

Digitally transforming your company can help your business in moving at a faster pace and can take you towards total transformation of your business. With this you can reach and gain customers from all horizons.

A few reasons why to opt digital transformation –

1. Security for your business –

Being a business owner, it must be a real task for you to manage and secure all data. This is not only complicated, but also requires severe enforcement around access, data compliance and protection from cyber-attacks. Sometimes, even the strictest security measures turn out to be useless if a disappointing network force you to leave for flexibility or faster speeds and choose some other place. Let your business be adaptive towards the digital transformative approach and you can easily achieve the business goals to keep your data secured.

2. Increases employee’s participation and makes them more effective –

Choosing Digital transformation functionalities can provide a valued opportunity for core business roles, like in finance and HR departments. You can now drop working on manual processes and automate key areas like payroll and focus wider business opportunities.

3. Reinforce business partnerships –

Digital transformation is one of the easiest ways to create and strengthen business relationships. As the demand from customer side is increasing, the competition among the industries has also increased. This has led companies to work in collaboration with suppliers and distributors, sub-contractors and specialised consultants, so that the productivity can be increased, and the demands and interest of the customers can be fulfilled. Digital transformation is very important to manage these partners which otherwise could be exhausting. The early you opt for a digital process for your company, the easy it would to handle the entire process.

Essentials of a successful Digital Transformation –

Be ready to accept new technologies

If you think in practical terms, you might have to face technological concerns in digital transformation if your team is not updated with the latest technologies.

Be open to experiment and
expand

While you carry out several operations, you will have several new doors opening to digitally transform your business. You should always be ready to grab any opportunity to experiment and expand your business.

Lead smartly

A vision being executed under strong leadership will surely bring success for any organisation.

Strategies wisely before you choose technology

After leadership, another important aspect is to put the best strategy in place and execute it through digital transformation.

Why exactly do companies need digital transformation, and how can SAP BRIM services help them navigate this transformative journey?

Staying Competitive in the Digital Age: Companies that embrace digital transformation gain a competitive edge by leveraging technology to streamline processes, improve efficiency, and enhance customer experiences. With SAP BRIM services, companies can optimize their revenue management processes, accelerate time-to-market for new products and services, and gain valuable insights into customer behavior and preferences.

Meeting Evolving Customer Expectations: Today’s customers expect seamless and personalized experiences across every touchpoint, from initial engagement to post-sale support. Digital transformation allows companies to meet these expectations by leveraging data and analytics to understand customer needs and preferences better. SAP BRIM solutions enable companies to deliver personalized pricing and packaging options, flexible billing and invoicing solutions, and real-time customer engagement capabilities, helping them build stronger and more loyal customer relationships.

Unlocking New Revenue Streams: Digital transformation opens up a world of opportunities for companies to explore new revenue streams and business models. SAP BRIM provide the flexibility and scalability companies need to monetize their digital offerings effectively, whether through subscription-based pricing models, usage-based billing, or value-added services.

Driving Operational Efficiency and Cost Savings: Manual and outdated processes can hinder a company’s ability to adapt to changing market conditions and customer demands. Digital transformation allows companies to automate repetitive tasks, streamline workflows, and eliminate inefficiencies, leading to significant cost savings and operational improvements. BRIM offer end-to-end revenue management solutions that integrate seamlessly with existing systems and processes, enabling companies to optimize their operations and drive sustainable growth.

Navigating Regulatory and Compliance Challenges: In today’s increasingly complex regulatory environment, companies must ensure compliance with a wide range of laws and regulations, from data privacy and security to taxation and accounting standards. BRIM offer robust compliance management features, including built-in controls, audit trails, and reporting capabilities, helping companies stay compliant and mitigate risk.

Based on a survey done on digital transformation by Constellation Research, 64% of respondents agreed to the fact that a great digital transformation strategy is essential to bring in profits for the organization. Going with the idea that only using latest technology would be enough to achieve the business goal for your organisation is not going to work. For or this, any business would need to have a well-planned strategy carried out by strong team. This will let you make the most out of this digital era by changing the way you deal with big and small challenges in the industry and allow you to think differently to bring out digital transformation into action.

While you have already chose to go on the path of digital transformation, you have to be ready for a few minor challenges including increased cost which is not going to be as high as you are thinking and will be worth each penny. With digital transformation you can fundamentally change the way your organisation work, and get things done more precisely and accurately!

Digital Transformation is no longer a choice but a necessity for companies looking to thrive in the digital age. By embracing SAP BRIM solutions by Acuiti Labs, companies can unlock new opportunities for growth, enhance customer experiences, drive operational efficiency, and stay ahead of the competition. With Acuiti Labs – right strategy and technology partner, your business can navigate the complexities of digital transformation and emerge stronger and more resilient than ever before.

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05 FebBusinessSAP

Major Challenges faced by Postal Industries and how AcuitiPostal can help

Digitalization and technological advancements have led the Postal industry to change their traditional practices and adapt to the competition. The reasons for this shift are primarily extensive growth in the E-commerce industry & preference of the customers towards digital communication and paperless billing and invoices. Inevitably, the shift, along with its solutions, brought new challenges to the Postal Industry and we at Acuiti Labs have developed a one stop solution to tackle them- AcuitiPostal

Major Disruptions in the Postal Industry:

E-Substitution and Digital Disruption: The rise of electronic alternatives to traditional mail, such as electronic billing and online communication, leads to e-substitution. Postal services must adapt their billing processes to account for the shift to digital platforms.
Parcel Pricing Complexity: The growth of e-commerce has increased parcel volumes, requiring postal services to manage complex pricing structures based on factors like size, weight, destination, and delivery speed.
Diverse Service Offerings: Postal services offer a variety of services beyond traditional mail, including parcel delivery, express services, and logistics solutions. Billing for these diverse services with different pricing models can be complex.
Technology Integration: The integration of new billing technologies, such as electronic invoicing systems, automated billing processes, and secure payment gateways, requires significant investment and adaptability from postal services.
Customer Billing Preferences: Addressing the diverse preferences of customers regarding billing methods (e.g., paper vs. electronic invoices) and payment options requires flexibility and customization in billing systems.
Customer Communication and Education: Communicating billing changes effectively and educating customers about new billing methods or pricing structures is essential to maintain customer satisfaction and transparency.

In the agile market today, it has become crucial for the postal industry to move past these hurdles to ensure market sustainability. These problems can be addressed by enabling digitalization and adopting technological expertise. Practices such as E-billing, subscription offers, efficient pricing mechanics, etc. could prove to be the game changers for the postal industries. Tackling these disruptions will help the businesses adapt to the new trends and streamline their business practice in a way that favors the business and customers.

Here is when AcuitPostal- a BRIM accelerator designed by AcuitiLabs comes into action.

AcuitiPostal- At a Glance:

Built on BRIM technology, AcuitiPostal is a product dedicated solely for the Postal Industry to cater to its various necessities may it be operational excellence, launching new services or enhancing the customer experience. AcuitiPostal helps the businesses in the Postal industry to deal with disruptions that they are facing currently.

Transforming postal ops with AcuitPostal for business growth and customer delight:

Capitalize on evolving market opportunities by instantly changing client prices and partner revenue sharing models: It’s evident for the client prices to change with respect to the changing operational costs. AcuitiPostal enables the businesses to swiftly adapt to the situation and change the price while also being competitive in the market.

Introduce customer-focused subscription offers that set you apart from your competitors. With AcuitiPostal, businesses can enable subscription offers that are structured according to the customers’ needs and demands.

Increase efficiency to integrate the quote-to-cash process and offer low TCO (total cost of ownership).
Increase visibility from customer management to revenue recognition.
Electronic documentation: Since AcuitiPostal is a BRIM accelerator, it provides paperless solutions and enables the postal industry businesses to provide E-billing solutions hence enabling a practice of electronic documentation. Electronic documentation has become very useful for the businesses in the postal industry due to the ease of customs clearance.

BRIM Capabilities:

The billing software, BRIM effectively maps usage-based or recurring pricing modules for personalized offers and the possibility of real-time pricing. With BRIM at its core, AcuitiPostal can help the business of the postal industry to reduce underbilling and adapt to the way customers use the services. The business can be assisted in being at the forefront of the competition by offering prices that are attractive and reach the customers faster. BRIM also helps businesses in transforming the business model as a result of its flexible invoicing process.

At Acuiti Labs, we strive to make business practices faster, simpler and more efficient. We help you achieve the competitive advantage you need for your business to set yourself apart with our various industry specific efforts. AcuitiPostal is one such effort with an intent to revolutionize the Postal Industry.

Make the best of AcuitiPostal– A BRIM accelerator by Acuiti Labs now!

268

28 JulSAP

Next Level SAP Innovations for Industries: Paving the Way for Future Growth

Describing SAP as one of the most intelligent and simplified technologies of the decade would not be incorrect, as it is a cutting-edge technology of the new age. From digitally transforming a lot of businesses to giving them an entirely new face for their customers, SAP has truly been a technology that has changed the business game for many in the past years.

Many businesses involved in big data spaces are eager to understand and grab upon the next set of SAP Innovations and the latest technology trends. Measures to achieve the organisation’s bigger goals, transforming and redefining business strategies to offer significantly better customer experience, and focusing on the latest trends to remain ahead of the competitors are a few points that every business promises to follow. When it comes to improving their business and keeping up with the latest technology trends, businesses are doing the same

Another thing that remains static, is the focus on innovation. These innovations could be in the form of anything like launching a new product, or a solution, or it could also be a service. When businesses prioritize innovation, they can flourish, grow, and evolve rapidly. This is where SAP’s latest technology trends can be of great assistance.

Role of SAP Innovations to Fulfill Customer Demands

As customers’ expectations continue to evolve, businesses find themselves in a highly competitive virtual world. To solve complex business problems and bring your company’s vision to life, SAP’s innovative solutions can be of great help. Many businesses have already achieved significant goals through unique and cutting-edge software innovations from SAP. Now, it’s your turn to collaborate with SAP to provide a unique experience to your customers, from discovery to delivery.

Industries that have been benefited with SAP innovations.

SAP’s latest tech trends and innovations had already helped many organizations in bringing their vision to life and transformed the way they use to deal with their business problems.

1. Health Care

The American Society of Clinical Oncology is shaping the future of cancer care by providing individualised solution. With the help of big data stored in the cloud, people can easily access it and use it to create personalised evidence-based treatment plans which will further result in better patient care.

2. Agriculture

In agriculture, ‘Stara’ – which is a farm equipment manufacturer is reimagining its ecosystem and fundamentally changing its business models with the exceptional solutions by SAP that are helping to digitally connect ‘the internet of things across people, plants and machines. These innovations are helping the company realise its goals in a better way.

3. Transportation

Trenitalia, a high-speed rail company is using a tailored, dynamic magnets management SAP solution that harnesses the internet of things to analyse censored data from trains in real-time. Now customers enjoy better service and the company is saving 8-10% cost annually

4. Retail

A retailer company, Tata CLiQ launched the first of its kind ‘phygital’ marketplace with SAP Hybris Solution to combine the Physical and Digital world. Now, the customers are enjoying seamless omnichannel shopping experience that is personalized so that they feel special every time they visit or buy from here.

5. Entertainment:

Cirque du Soleil, has revolutionized its fan experience by investing in an interactive mobile app. This app is creating a more impressive fan experience.

Make your innovations real with SAP innovative solutions. Now, it is your turn to best utilize these and let your business bloom. Bring your concepts to life with high value, individualised solutions built by SAP experts.

SAP Tech Trends that you should know about

1. Big Data

Big Data is the huge collaborated data that we deal with almost every day in our lives. This data keeps flowing and moving from one computer to another computer or devices like mobile or machine sensors. With the use of the right big data tools, your organization can easily manage, store, and analyse this data and get valuable insights that were earlier impossible to imagine.

Big Data can play a vital role in transforming the decision-making ability of you your business with the help of technologies like in-memory data management, analytics, artificial intelligence (AI), and machine learning. Big data solutions for SAP can easily manage your various data landscape – across data warehouses, data lakes, and databases – with perfect to use on-premise and Big Data cloud solutions.

With the use of SAP HANA, you can easily transform the way you deal with the business challenges and get the responsiveness and processing power to make the most out of new opportunities.

2. Machine Learning

Machine learning is a smart technology that educates the computers to perform tasks in a desired way through learning from data – instead of getting it done to explicit programming.

Through the collaboration done with top universities in the world, SAP is all set to explore the more futuristic choices of machine learning and expand the technology for businesses. This collaboration will help SAP in focusing on a lot of different machine learning research topics and work on resolving open AI challenges in various industries.

3. Cloud Computing

Cloud computing can be simply defined as the process of delivering the applications, platforms, data storage, operating systems, and other computing resources over the Internet instead of doing it over on-premise infrastructure.

Businesses like yours can be benefited by choosing the cloud solution as by doing so you don’t need to make direct investments in hardware or IT staff, but get a subscription to the computing resource based on your requirement and pay the amount only for what you use.

These are three main SAP innovations cloud deployment options from which you can choose the best fit for your business requirement – public, private, or hybrid cloud. SAP promises to provide the most secure cloud platform that is maintained with the highest quality standards so that your data is safest.

4. Internet of Things

The Internet of Things can be defined as a network of physical objects like vehicles, objects, machines, home appliances etc. that use sensors & APIs to connect and exchange data over the Internet.

5. Blockchain

Unlock the potential to revolutionize the way your business currently operates with Blockchain technology. Blockchain is based on distributed ledger technology, which securely records information across a peer-to-peer network. Join SAP Blockchain group and stay ahead of the competition. Easy communicating and networking with peers, staying updated with the latest industry trends and knowledge from speakers and SAP experts are a few best advantages that any business will be able to take while using Blockchain.

6. Digital Transformation

A fundamental rethinking of customer experience, business models, and operations is what digital transformation is all about. Any business that chooses digital transformation automatically chooses new ways to deliver value to the customers, generate better revenue, and improve efficiency.

Now or later, every business will eventually have to opt for digital transformation. A few businesses are under pressure to go for digital transformation and built a strong clientele, while there are others that are looking forward to it and moving ahead slowly. Are you among those businesses that are looking for business transformation?

Customer Satisfaction should always be the primary goal for businesses -

For businesses that prioritize growth and refuse to compromise on the quality of their services or products, customer satisfaction will always remain the primary focus. The market will be dominated by businesses that will understand the customer requirements better than ever before and offer them exactly what they need, even before they know they need that.

256

09 JunBusinessSAP

Driving growth with SAP subscription based business models

In today’s digital economy, many businesses are shifting towards subscription-based models to offer their products and services. Whether you sell products or services, subscription billing makes it feasible for your customers to make choices based on their convenience and budget thus allowing them to utilize your services in a much better way. One of the greatest benefits of choosing Subscription billing for your business is the ease that it gives to the customers so that they do not have any trouble in coming to a decision of what to buy when to buy and how are they going to manage the budget for it. Well, when your customer buys any of your service or product and go for a subscription-based plan, they will have a choice of paying through a recurring payment method which is the most feasible and budgeted way to own anything that they are looking for.

With its robust features and capabilities, SAP Subscription Billing Services helps businesses streamline their billing processes, enhance customer experience, and drive revenue growth.

Why SAP Subscription Billing?

One of the greatest advantages of choosing SAP Subscription Billing solution for your business is the effectiveness with which it handles the entire billing and invoicing process for your customers. This billing solution is crafted to grow your business in all directions and provide a simplified, automated approach to billing and ordering processes. It can successfully handle your customer’s end-to-end subscription billing life cycle which makes it the most commonly used subscription billing platform today that is transparent, effective, customer-friendly, and economical all at the same time.

Following are a few reasons why you should get rid of the traditional way of creating and sending manual bills and invoices to your customers and opt for the innovative way through SAP Subscription billing:

Meet the needs of the outcome economy with the advanced subscription billing solution likes the one offered by SAP that allows you to plan, innovate, and adapt your business model with speed and agility.

The market is constantly evolving, and staying up-to-date with the latest trends is crucial to remaining competitive. Here are the top 5 benefits of SAP subscription billing that make it the perfect solution for businesses:

Deliver Exceptional and Accurate Results to your customers

Most customers prioritize accuracy and perfection when deciding to purchase a product or service. By utilizing SAP subscription billing, your business can enhance customer satisfaction and retention through the implementation of a dependable and automated order-to-cash process.

Give your business the capability to deliver superior results to your valuable end customers by choosing the SAP Subscription Billing option and integrating it into your current billing and invoicing system. Most businesses have already integrated this into their existing billing system and are significantly delivering better and more accurate results along with great customer satisfaction.

Helps in creating new business model

Subscription billing is all about offering the flexibility of getting a service or product on a subscription basis and to pay for it accordingly. As technology is growing and evolving at a faster pace, most customers are inclined towards taking the subscription for the required time instead of completely owning it and this is only going to increase in the coming years.

Streamline Sales and Billing

Faster delivery and more effective experience for your customers with SAP subscription Billing! It simplifies and harmonizes sales and payment processes in a way that the entire flow turns out to be seamless and time-saving. Automation and streamlining of the billing and invoicing process not only saves your customers time but also gives them the flexibility to understand the complete flow. Preciseness, accuracy, and timely delivery are a few attributes every customer looks for in the product or service they are buying.

The desire of customers for personalized experiences is rapidly increasing over time. In the upcoming years, it will be crucial for businesses to thoroughly analyze customer requirements and develop a plan that is fully aligned with their needs.

Rapid Innovations and Continuous Evolution

Change the way you deal with the billing and invoicing process in your organization and start enhancing your business with one of the most efficient and fastest-growing business models – ‘The SAP Subscription-based Billing Model’. Get the privilege of delivering the right mix of subscriptions, charge based on the usage and periodic fees and enable product bundling and service bundling to create personalised offers for your customers.

SAP Subscription billing allows your business to remain upgraded with the latest billing tools and tactics and provides your customers with the most updated version of the billing system. This not only retains your old customers for your business but also builds trust for the new customers to come on board and experience the best billing and invoicing that you are going to offer to them.

Simple yet effective order-to-cash cycles for consistent growth

Get the feasibility of creating and editing orders instantly as and when required with the right mix of subscription services and products. Also, you can easily automate order fulfilment processes throughout the different systems. Easily monitor all the order arrangements, right from the initial stage to the activation of the subscriptions. Customers have become too smart and are continually evolving with every passing year.

In current times, customers believe and follow the mantra – “The simpler, the better.” Businesses are looking for simple yet very effective systems to deal with their billing requirements. And this is the reason a lot of emphasis is being given to the SAP Subscription Billing system. This is the complete package for modern-day billing and will surely be the best choice to deliver complete customer satisfaction efficiently.

Agile billing system – An added advantage to Enhance customer experiences

SAP Subscription billing is an agile billing system that gives an added advantage of improving the overall experience of your customers. We cannot ignore the fact that the billing solution of any business is highly responsible to provide a rich opportunity in delivering a positive customer experience and gather valuable insight. According to a new Forrester study, billing and revenue management solutions are the basic requirements to project digital transformation and superior customer experience. In its report “Transform Your Business To Deliver Superior Customer Outcomes With An Agile Billing Solution, an October 2018 commissioned study conducted by Forrester Consulting on behalf of SAP,” Forrester has clearly explained how most of the organizations are planning to move away from highly customized, on-premise billing systems to modern SaaS billing and revenue management platforms. This study provides invaluable insight into:

Why the market is tipping towards Subscription billing solutions
How Subscription billing solutions help you build better customer connections and deliver superior outcomes.
Why billing needs to be a part of your overall customer experience strategy

Why Choose Acuiti Labs for SAP Subscription Billing?

Acuiti Labs is a UK-based organization and an SAP Silver partner offering a wide range of SAP solutions to its clients from around the Globe. Among these solutions is the SAP subscription billing solution, which is designed to help businesses streamline their billing processes and improve customer satisfaction. By leveraging this solution, businesses can automate their billing processes, reduce errors, and gain greater visibility into their revenue streams. Acuiti Labs is committed to helping businesses achieve their goals by providing them with the latest SAP solutions and exceptional service.

Industry Experience: We have vast experience working with clients from various industries including telecommunications, media, utilities, and more. Our industry-specific knowledge and customizable products allow us to tailor SAP Subscription Billing Services to meet your business’s unique needs and requirements.

Proven Track Record: Acuiti Labs has an impressive history of delivering successful implementations and satisfying clients. Our expertise and the positive outcomes we have achieved for other organizations can be demonstrated through references and case studies.

End-to-End Solution: The SAP Subscription Billing solution offered at Acuiti Labs is flexible and can meet changing business needs with speed, and agility.

Customization and Flexibility: No matter how big or small your business is, Acuiti Labs can provide a complete billing solution based on your requirement. The solutions offered here are personalized for individual user, enabling companies to successfully build, maintain and promote customer loyalty.

By choosing Acuiti Labs as your partner for SAP Subscription Billing Services, you can be assured that you are collaborating with a proficient and well-experienced team. We can assist you in efficiently implementing and optimizing SAP BRIM solutions to simplify your subscription billing processes

Contact us to learn more about one of the most scalable solutions for a subscription-based business model that can easily be integrated with other Cloud solutions such as SAP Sales Cloud. Acuiti Labs can also help your business by providing other sap solutions like SAP BRIM, SAP Sales Cloud, SAP Commissions and more. Explore the website to have a proper understanding of the services and solutions offered here.

303

06 AprSAP

Consume-to-Cash process Transformation for High-Volume Businesses

How can Acuiti Labs streamline the billing process for your business?

The growing competition has led businesses to think innovative and push the boundaries to stand distinct in the crowd. To remain a step ahead when it comes to product commoditization, rapidly increasing competition, declining margins, monitoring pressures, and most importantly demanding customers with unique requirements, have led many companies from various industries to redesign and rethink about their business models. Businesses are not only thinking to launch new and innovative services and products, but they are also topping them up with various customer-friendly add-ons that make the service more flexible.

The businesses that are primarily opting for a change in their business models are from various industries like telecommunications, media, high-tech, transportation, logistics, utilities, and financial services. The widespread and globally adopted internet and mobile network services has bought a huge change in the way we use to look at the businesses and services a couple of decades back. The smart mobile devices and faster internet services and deployment of machine-to-machine telecommunications has unleashed a different and an all-new era when it comes to creative services.

Why Consume-to-cash process is important for businesses today?

To match up with the latest business trends and address growing opportunities, businesses have to face a lot of challenges when they look forward to launching any new service for their customers. It becomes yet more challenging when you are addressing a very large number of direct customers along with massive transactional management volumes in an ever more competitive high-cost and low-margin environment.

The greater task for businesses here is to maintain the diversity of and for the customers and take care of increasing the average revenue per customer. This is the reason why businesses like yours look for different ways of successfully identifying the most valuable customers and providing them with the services that seek at a price that will keep them coming back.

When it comes to back-end business software solutions, most of the companies typically opt for a customer relationship management (CRM) solution to help with centralizing the customer information, and an enterprise resource planning (ERP) software that assists in managing operational service processing and other financial processes.

Mostly these software solutions are developed to support the selling of products across several indirect channels, but these often miss out to resolve the challenges faced during the monetization of newly added services. To resolve such business challenges, businesses need a solution that can take care of business processes for service monetization. These processes are referred to as consume-to-cash processes in SAP.

SAP Solutions include –

The SAP® Convergent Charging application
The SAP Convergent Invoicing package
The SAP Customer Financial Management

This package consists of the integrated SAP software solution for the consume-to-cash business process (as shown in the diagram below). This best-of-breed software offered by SAP can help businesses in simplifying complex ratings and streamline the billing processes. The SAP Software efficiently handles accounting, billing, payments, and collections; and enhances financial customer care for larger volumes of customers and transactions.

Choosing SAP Software can assist businesses in obtaining the consistency it requires to manage billing and payments from customers, as well as handle complex revenue sharing with upstream and downstream partners. It is a fact that SAP solutions are flexible way elements of the solutions and can be rapidly deployed within the organizations’ existing IT software landscape to add value where it is most required.

Streamline the Billing Process for your business

Role of SAP Convergent Invoicing – The SAP Convergent Invoicing package helps businesses in pulling out information from different billing streams and separately rated events to combine all payments/orders into a single invoice for a consolidated view of the customer.

SAP Convergent Charging provides modular online balance management, that provides complete support in convergent account management for different types of payments like – prepaid accounts, post-paid accounts, or hybrid models.

With SAP Convergent Invoicing, any business can easily go for partnerships with third parties and upgrade new services effectively. For example, you can configure the software so that revenues shared with a specific third-party provider are only distributed to that provider if the end customer has actually paid the corresponding charges.

SAP Convergent Invoicing offers unique functionalities that allow businesses in defining flexible rules to automatically trigger discounts. This helps you initiate invoice-level discount programs and manage their details. For example, the applicable discounts and offers could be calculated and applied to invoices when complete charges surpass a certainly defined threshold value or when the subtotal within certain customer services or products exceeds a defined limit.

Business Benefits of Choosing Consume-to-cash Process –

Helps businesses in accelerating time to market for fresh services and cross-promotional bundles by allowing them to keep pricing entirely under their control
Offers reduced operational costs by combining different pricing systems, automating routine tasks in the credit and collections processes, enhancing staff workload, and reducing the overall number of invoices that a business generates.
Adapting the consume-to-cash process helps businesses in offering customized promotions and personalized customer experience. The customers get an invoice that clearly displays all charges on a single, easy-to-understand invoice that enhances customer satisfaction.
Reduced risk because there will be complete transparency about the credit and collections history of new and existing customer

Key Features:

Following are the key features of choosing Consume-to-Cash for your business

Real-time charging – Consume-to-cash offers real-time online charging for pricing. It allows businesses in packaging required services, automate the partner settlement calculations based on the requirement, and offer the customers more flexibility in real-time account-balance management controls.
Single billing / Single Invoicing as an output – Helps businesses in producing and providing single bills to the customer by combining multiple, high-volume billing streams into a single bill with one accounting document.
Effective financial management for the customers – This allows businesses in dealing effectively with customers when it comes to various financial concerns effectively.

Consume-to-cash Process Transformation and Optimization by Acuiti Labs

Businesses, especially the ones that are dealing with huge volumes, have started to understand that to prepare for the technological innovations of the future, they need to align their business processes in the best way possible today. Acuiti Labs helps businesses with SAP software and services so that they achieve best-of-breed functionality and can successfully align the entire consume-to-cash process for themselves – right from online rating and charging to convergent billing, and invoicing, and collections.

When you choose Acuiti Labs and support your consume-to-cash business process with the SAP software that we offer, your business process becomes more flexible to react rapidly and adapt appropriately to tomorrow’s market demands, even if in complex business scenarios.

466

06 DecBusinessSAPTechnology

Benefits of Switching from Manual Billing to Automated Billing. Why Choose SAP BRIM for Billing Automation?

Automated billing software not only helps businesses in streamlining their invoicing process, but it eliminates errors that manual billing causes and helps in deriving valuable business insights that you can leverage for your overall growth.

Handling larger volumes of recurring customers through a manual billing process can be tedious, time-consuming, and might require extra resources. The manual billing process is also susceptible to inaccuracies and is not quite recommended for businesses handling a large volume of data to avoid errors. When a business offers subscription-based services, the processes including billing, invoicing, payments, and revenue recognition are almost impossible if are being carried out manually.

Businesses that offer usage-based or subscription-based services should definitely choose to go with recurring billing software to update and automate their billing systems. This will not only streamline the complete billing procedure but will also fully eradicate the probability of manual errors.

A lot of subscription-based businesses are already leveraging the benefits of their shift from manual billing to fully automated billing software. And it is certainly important and recommended for all the businesses dealing with a large volume of customer data that are still using the conventional billing software.

The points below may help you to clearly understand the importance of automated billing software –

1. Saves additional time and effort:

You lose a lot of time and effort if you look at each customer manually to determine its subscription plan and deploy its bill accordingly. Manual billing can further complicate the process for you and your customers when there is some change in the existing plans where you will have to track each new add-on, product removal, and customer update manually. In simple terms, working with more customers and continuing to use the manual invoicing system is not practical.

An automated billing software saves you precious time that you spend needlessly sending bills to customers and collecting payments on a recurring basis. Billing automation is the best option to go within these modern times. When you use this, you put instructions in place in advance and save your billing team a great deal of time and effort.

When you opt for an automated, self-serve system for your company’s billing requirements, you provide your customers the freedom of altering their preferences whenever they wish to. They can review their bills and make the payments themselves, saving your team time and effort.

2. Improve accuracy and eliminate errors

Recurring manual billing and invoicing processes increase the risk of human error and can result in several errors and inaccuracies in customers’ invoices. The more repetitive the manual activities are, the greater will be the risk of inaccuracies in the end results. Aside from the fact that errors are expensive, there are also long-term costs associated with declined customer satisfaction.

With the billing automation process, customer information or subscription plans are required to be entered into the system only once. This means that any time you update a new subscription, the information will always be accurate every time a customer is billed, no matter what number of customers you are serving.

Automation is about being able to drive and grow your business with confidence.

3. Improved understanding of the Major Subscription measures.

Each business must have a complete understanding of what is going on behind the scenes and what the data suggests. For SaaS (Software as a Service) and other subscription-based businesses, access to relevant reports is a critical component in monitoring business health.

The reporting features offered in the automated billing system can provide you with significant business information to project future revenues. You get to access reports that allow you to see what’s working and what isn’t and quickly fix it. This will assist businesses in making informed strategic decisions going forward.

4. Automated billing system can simplify the way payment collection is done.

Payment collection is easy when you use a modern recurring billing software like SAP BRIM. This is because it automates the entire invoicing and collections process for your business. It also helps small and large businesses in identifying and flagging customers that have due payments and sends out past due notices automatically. Once you start using a system that automates these processes, you will immediately get an idea about the customers’ payments that have not been received, so you can easily identify which clients you need to pay attention to.

Using traditional billing solutions can make it difficult for your company in handling partial payments and payments in various currencies. Tracking partially outstanding payments and converting international payments to your local currency will take up your time and energy if the number of customers you are handling is huge. Automated billing software like SAP BRIM can automate similar activities, saving your significant time and efforts and making payment collection a hassle-free task for you.

5. Improved relationships with customers.

Easy access to client accounts resulted in a better understanding of client behaviour, which resulted in the identification of turnover risks.

Recurring or r automated billing software is much more advanced, sending automated email notifications to the customers once payments are received, which is yet another way to that adds to your relationship with your customer.

No matter how much money a bill is for customers still enjoy receiving this little thank you from your company. As a matter of fact, a simple ‘Thank you’ note can increase your chances of being paid more.

6. Offers Improved security

Automated billing adds an extra layer of security and where certain tasks could only be allowed to certain people within the organization. When an automated billing system is used, it gives you total control over who can do what on your billing platform.

Most businesses have security as one of the major concern when looking for an automated billing system. SAP BRIM solution for Billing automation assures safety for its customers and is the best choice to go with if looking for an automated invoicing billing system.

SAP BRIM for Billing Automation:

Below are SAP BRIM advantages of the on-premise solution –

Conclusion –

Manual billing processes are comparatively slow, inaccurate, and prone to errors, and they do not offer the agility needed to innovate and compete. In order to position your large-scale business that offers subscription or usage-based services and succeed in this increasingly competitive landscape, having an automated billing system is crucial. Automated billing software is an often-overlooked component of a complete digital transformation. And unfortunately, a lot of businesses do not think of improving their billing procedure until some of their pain points have already appeared. But, as a business, it is important for you to maintain a healthy cash flow and keep your business performing at its best in terms of efficiency, security, and customer satisfaction. Go for SAP BRIM automated invoicing system as it is an essential development for your organisation to grow.

Acuiti Labs can help you Switch from Manual Billing to Automated Billing

Automated billing increases accuracy and reduces costs. With an automated billing system, you can save time and streamline your billing process. Acuiti Labs’ team of experts can help you make the transition from manual billing to automated billing with ease, providing direct support for all questions and issues as well as recommendations for upgrades or new systems.

How can we help?

Assessment and Analysis: Acuiti Labs can conduct a thorough assessment of your current billing process to identify areas for improvement and determine the best approach for automating your billing process. We customize the process to fit your business needs, implementing any necessary changes to ensure high-quality oversight throughout the process.
Implementation: Let Acuiti Labs implement a comprehensive, automated billing system that is tailored to your specific business needs. It can include configuring the software, integrating it with other systems, and training your staff on how to use it.
Customization: Acuiti Labs can customize the automated billing system to meet your unique business requirements. This can include customizing the user interface, adding new features and functionalities, and integrating with other systems.
Integration: Acuiti Labs can help to integrate the automated billing system with other systems, such as SAP, Oracle, or Microsoft Dynamics, and integrate with third-party systems. This can help to ensure that your billing process is seamlessly integrated with your other business processes and systems.
Ongoing Support: Once you have your automated billing system in place, Acuiti Labs can provide ongoing support and maintenance for your automated billing system, helping to ensure that it runs smoothly and that any issues are quickly resolved when they do emerge. Our team of experts is available to discuss options and answer questions, so you can be sure you’re getting the most out of your billing system.

Overall, Acuiti Labs can make the transition from manual to automated billing smooth and efficient, and with minimal disruptions to your business. With its expertise in billing automation, Acuiti Labs can ensure that your new billing system is effective, and it is tailored to fit your specific needs.

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elementor	indefinite	The website's WordPress theme uses this cookie. It allows the website owner to implement or change the website's content in real-time.
JSESSIONID	6 hours	This cookie creates a unique ‘session identifier’ for you so that the tool we use to monitor our website performance (New Relic) can keep count of how many times you have visited our site.”
LS_CSRF_TOKEN	session	Cloudflare sets this cookie to track users’ activities across multiple websites. It expires once the browser is closed.
viewed_cookie_policy	11 months	The cookie is set by the GDPR Cookie Consent plugin and is used to store whether or not user has consented to the use of cookies. It does not store any personal data.

Cookie	Duration	Description
_ga	1 year 1 month 4 days	Google Analytics sets this cookie to calculate visitor, session and campaign data and track site usage for the site's analytics report. The cookie stores information anonymously and assigns a randomly generated number to recognise unique visitors.
_ga_*	1 year 1 month 4 days	Google Analytics sets this cookie to store and count page views.
_gat_UA-*	1 minute	Google Analytics sets this cookie for user behaviour tracking.n
_gcl_au	3 months	Google Tag Manager sets the cookie to experiment advertisement efficiency of websites using their services.
_gid	1 day	Google Analytics sets this cookie to store information on how visitors use a website while also creating an analytics report of the website's performance. Some of the collected data includes the number of visitors, their source, and the pages they visit anonymously.
_hjSession_*	1 hour	Hotjar is a behaviour insights tool which we use to help us understand what visitors to our site do and why. Hotjar sets this cookie to ensure data from subsequent visits to the our site are attributed to the same user ID (which persists in the Hotjar User ID, which is unique to that site)
_hjSessionUser_*	1 year	Hotjar sets this cookie to ensure data from subsequent visits to oursite are attributed to the same user ID (which persists in the Hotjar User ID, which is unique to that site).
_hjTLDTest	session	Aiming to identify the predominant cookie path to utilize instead of the site's hostname. This approach ensures that cookies, if applicable, can be shared across subdomains.
_lfa	1 year	This cookie is set by the provider Leadfeeder to identify the IP address of devices used for visiting the website, for marketing purposes.
663a60c55d	session	Zoho sets this cookie is used to build a sales analytics cookie
AnalyticsSyncHistory	1 month	LinkedIn uses this cookie to retain information regarding the timing of a synchronization with the lms_analytics cookie.
ga_	1 year	Google Analytics sets this cookie to calculate visitor, session and campaign data and track site usage for the site's analytics report. The cookie stores information anonymously and assigns a randomly generated number to recognise unique visitors.
siqlsdb	never	Zoho sets this cookie to generate a unique ID for the session. This allows the website to obtain data on visitor behaviour for statistical purposes.
utsdb	never	Zoho SalesIQ sets this cookie to register data on visitor's website behaviour.

Cookie	Duration	Description
bcookie	1 year	LinkedIn sets this cookie from LinkedIn share buttons and ad tags to recognize browser IDs.
bscookie	1 year	LinkedIn sets this cookie to store performed actions on the website.
li_sugr	3 months	LinkedIn sets this cookie to collect user behaviour data to optimise the website and make advertisements on the website more relevant.
test_cookie	15 minutes	doubleclick.net sets this cookie to determine if the user's browser supports cookies.
VISITOR_INFO1_LIVE	6 months	YouTube sets this cookie to measure bandwidth, determining whether the user gets the new or old player interface.
VISITOR_PRIVACY_METADATA	6 months	YouTube sets this cookie to store the user's cookie consent state for the current domain.
YSC	session	Youtube sets this cookie to track the views of embedded videos on Youtube pages.
yt-remote-connected-devices	never	YouTube sets this cookie to store the user's video preferences using embedded YouTube videos.
yt-remote-device-id	never	YouTube sets this cookie to store the user's video preferences using embedded YouTube videos.
yt.innertube::nextId	never	YouTube sets this cookie to register a unique ID to store data on what videos from YouTube the user has seen.
yt.innertube::requests	never	YouTube sets this cookie to register a unique ID to store data on what videos from YouTube the user has seen.

Cookie	Duration	Description
_zcsr_tmp	session	Zoho sets this cookie for the login function on the website.
li_gc	6 months	Linkedin set this cookie for storing visitor's consent regarding using cookies for non-essential purposes.
lidc	1 day	LinkedIn sets the lidc cookie to facilitate data center selection.
uesign	1 month	Zoho sets this cookie for the Visitor Live Chat.
UserMatchHistory	1 month	LinkedIn sets this cookie for LinkedIn Ads ID syncing.
wp-wpml_current_language	session	WordPress multilingual plugin sets this cookie to store the current language/language settings.

Cookie	Duration	Description
alr	1 hour	Glassdoor sets this cookie to track which users have shown interest in which job postings. The cookie ensures that the most relevant job postings are shown to the specific user.
AWSALB	7 days	AWSALB is an application load balancer cookie set by Amazon Web Services to map the session to the target. Load balancing is the technical means by which we ensure that our site continues to run smoothly even if a large volume of people are visiting it at the same time.