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
SAP Solution

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.

Business Process

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.

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 –

  • Subscription-based products and use-based or recurring services are easily automated because it is automated. 
  • Deal with customer requirements with much more agility. With SAP BRIM, customer needs can be executed in an efficient and faster way 
  • SAP BRIM not only automates the entire billing procedure for your business but also processes the data quickly and efficiently. 
  • Offers rule-based and smart automation for billing, invoicing, and accounting processes
  • Helps businesses with automated and highly efficient processing of large volumes of data

Conclusion –

Manual billing processes are comparatively slow, inaccurate, and more 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.

SAP BRIM Application Management Services for your business, just the way you want it!

Acuiti Labs’ full Implementation and Management support for your BRIM system allows your team to leverage the maximum potential of your SAP solutions. 

Let your team focus more on strategic and essential activities. Give your IT team the advantage of accessing on-demand SAP support in different functional and technical areas depending on your requirements. Services are easy to work with, easy to access, and always available. 

Why Choose a Dedicated SAP AMS Service Provider for your Business?

Enables businesses to be more Strategic and Focused 

Get benefits from strategic & focused methods that can drive more value from your existing SAP system. Customized SAP BRIM Application Management Services can free up your internal IT resources and allow your team and business to leverage the full potential of your SAP system.

Helps in meeting business goals with custom AMS Solutions

AMS Partners, help you remain updated with changing IT needs. They can work together in describing right-sized and right-shored delivery models based on the specific requirement of your business. 

Continuous Assistance for Your SAP Applications

Businesses that choose a dedicated SAP AMS partner get expert SAP assistance on-demand, in any functional or technical area, without extra effort. Services are easy to access, easy to work with, and always available.

Advantages of Exclusive SAP BRIM AMS Services 

Below listed are some of the major advantages that are offered to you when you choose SAP BRIM Application Management Services from Acuiti Labs:

  • Allows your employees to focus on internal projects and take care of other priority tasks.
  • Reduces cost of operation with the help of a hybrid delivery model and flexible support model.
  • The benefit of leveraging best-practice methodologies designed by SAP BRIM knowledgeable experts.
  • You do not have to worry about resource availability while you use SAP Application Management Services.
  • SAP AMS gives your business the flexibility to scale up and down as it grows. Avoid hiring delays and the charges associated with the frequent shift in the workforce.
  • Strategic SAP consulting and operational SAP application management from a single source.
  • Use resources as and when you need them without paying anything extra.
  • Help businesses in cutting the infrastructural cost for the team.
  • Complete support with high resource requirements to ensure 24/7 in-house operation

Why SAP BRIM AMS Services is unique and offer a world-class experience?

Acuiti Labs’ team of SAP Experts comes with vast industry knowledge and experience providing complete assurance of utilizing your SAP Landscape in the best and most optimized manner. 

Our SAP BRIM Based Administration Services include: 

  • Monitoring and maintenance of your SAP Landscape.
  • Storage space monitoring and Expansion as required.
  • User management.
  • Managing safety and security of Apps.
  • Upgrade and Migration to SAP S/4 HANA.

Below are a few reasons you should right away go with our AMS Services

  • We offer AMS Support irrespective of location, industry, and size of the organization.
  • We are flexible and utilize different support models (shared or dedicated).
  • We have the expertise to offer the best in market support for CC, CI, FICA, SOM, etc. with the help of our knowledgeable and experienced team of SAP Experts.
  • Our flexible pricing models fit both small and large enterprises.
  • Right from development, to upgrade, to maintenance, of your SAP Landscape, we do it all.

Our SAP AMS Support Models

Dedicated support model  

This support model can help your business with an effective transition of SAP business systems into a competent managed services model, letting your business focus on what really matters for your growth and success. Our agenda takes full responsibility of your application life cycle with the flexibility and affordability you would want from your AMS partner. 

Shared support model

There could be times when businesses might struggle with the availability of skilled and adequate number resources or do not have a sufficient budget. Acuiti Labs’ AMS Shared support model brings predictable value that leverages best-in-class strategies, processes, templates, and reporting framework. Our shared support model features a centralized pool of talented, experienced, and knowledgeable SAP Experts who can help you in maintaining, enhancing, and managing your SAP BRIM system with complete flexibility.

Why Choose Acuiti Labs?

Choose us for SAP Application Management Services for your BRIM System, because our SAP BRIM AMS Services offers a full range of industry-leading services with complete transparency and reduced costs. We have a proven methodology designed to take care of your business’ application management services.  

Our models cover application, technical and functional support for Application Maintenance and other support services. Our highly knowledgeable SAP Certified experts make us the perfect partner when it comes to delivering maintenance and support services for your business. 

Conclusion

Our process allows business to combine all their different data and processes into a single tool. This eliminates extra work which is associated with manual data entry, multiple database usage, and other unwanted and time-consuming aspects that help keep your BRIM system up and running.

For more details, visit now – https://www.acuitilabs.com/application-management-services-for-brim/

Usage-Based Billing: What Businesses need to know

The marketplace is evolving rapidly, and businesses are leaving no stone unturned to remain ahead of their competition. Usage-based billing is playing a key role in transforming many businesses that have already started leveraging its benefits. Offering precise, customized, and responsive services to your customers can be a game-changer especially when it comes to the pricing and billing options you are offering to your customers.

A lot of companies are rapidly moving towards adopting and utilizing the usage/ consumption-based billing model to meet the demand of their customers. It introduces a pricing model that can attract a wide range of customers, irrespective of their product line or where a business stands in terms of its growth.

Why Usage-based Billing?

Why is usage-based billing becoming imperative, and why are SaaS companies increasingly adopting a usage-based revenue model? The honest answer to this question is – the benefits it offers to its customers. It opens a wider customer base for business and is a sort of win-win for both customers and the companies. SAP BRIM is a new-age solution to choose usage-billing option for your business.

In simple words, it allows your customers to enjoy the much-needed flexibility when it comes to their budgets; and at the same time, you are also holding themselves responsible for how much they end up using your product.

Business benefits of choosing Usage-based Billing 

Usage-based pricing does not have straightforward and accurate price offerings for its customers like flat-rate billing, etc., but it does come with a lot of business benefits. Here is the list –

1. Allows the customer to start at a low cost, minimizing friction.

2. Directly links the price paid with the value received.

3. Allows more users to access the product within an account, making the software more ubiquitous and seeding new use cases.

4. Provides businesses with the agility to anticipate, in the future, the requirements of their customers.

5. While the usage is being metered, businesses can easily track and analyze usage data for the product or service.

6. Provide the customers with options/choices that are aligned with their perceived value of any product or service.

7. On-demand product availability that attracts more potential customers

8. Get the flexibility to offer different combinations of services to increase revenue streams.

9. Overall, it is flexible, easy to use, and comes with several customer benefits.

Why Usage-based billing is even better than a One-time sales or Subscription Model?

There are three types of monetization models that businesses generally follow –

  • one-time
  • subscription
  • consumption/usage

Out of the three models mentioned above, the consumption or usage-based model comes with the widest range of monetization options. The one-time sale option provides exactly what the name says (a one-time purchase/transaction), on the other hand, the subscription model offers a fixed recurring rate irrespective of what is or is not used. But the consumption model or usage-based billing model is the most feasible of all the options and can work for a variety of different options, thus significantly increasing the number of offerings available for the customers and helping businesses in reaching maximum revenue numbers.

When the fixed-rate subscriptions are combined with flexible usage-based pricing, it results in the form of a consumption or usage-based model. This model allows the business to take advantage of a recurring fee and provides them a special ability with the help which they can charge for overages and increase revenue while any product or service is being used or consumed.

Minimize Business challenges with a usage-based model

To take full benefits of the usage-based model, it is important to work on the most common roadblocks that businesses might face in strategizing, GTM, and finance. Here are a few questions in each category that any business should understand to fully leverage the advantage of the usage-based model –

Strategy & Pricing:

– Is usage-based pricing the right revenue model for us?

– Did we pick the right usage-based value metric?

– What if customers do not like paying based on usage?

– How do we handle overages?

GTM Strategy

– What should be the role of self-service, sales, and customer success?

– How do we navigate sales comp?

– How do we grow adoption and usage?

Finance & Operations

– Is usage revenue valued differently than subscription?

– How do we handle billing?

– How do we handle financial planning with volatile revenue?

– How do we handle cash management and rev rec?

Choose a usage-based metric that meets the following criteria:

1. Value-based – Aligns with how customers derive value from your product and how they see success. Helps you communicate your unique product value.

2. Flexible – This allows the customer to choose and pay for their exact scope of usage. Helps overcome buying constraints and budget thresholds.

3. Scalable – Generates more, spends from a customer over time as they use more of the product. Revenue scales naturally with customer growth

4. Predictable – Provides billing and budget predictability for customers large and small.

5. Feasible – Possible for you to monitor, administer, and police with your customers. Tracks with your COGS so that you do not have consistently unprofitable customers.

What are the 5 Financial Metrics that businesses should mainly focus on –

  • Revenue
  • Remaining performance obligations (RPO)
  • Billings
  • Dollar-based net expansion
  • Active customer accounts

Major challenges of shifting to a usage-based billing model –

Shifting your business to usage-based billing comes with its own set of risks and difficulties – from how you execute it in your business subscription plans, to whether your customer is taking the change kindly or not. Here are a few major challenges that you as a business need to overcome to move successfully to a usage-based pricing model –

Picking the right pricing model for your business:

A simple way to understand whether the usage-based pricing is the correct model for your business is to contemplate your company costs; if this remains static irrespective of the number of customers using the service, then the usage-based billing model may not be the right fit for your business.

Therefore, usage-based billing is most suitable for businesses working on SaaS, cloud, and data. This is because of the higher costs generated by increased usage, and the comfort of metering such digital services.

Convincing your customers

While moving to a usage-based billing model, you might face some challenges from your customers, especially when you have started to charge them for a service that you once offered for free.

Now it is up to you, that’s how you convince your customers in understanding that this change is worthwhile, and they will be offered a lot of its benefits once they start using it. If you as a business fail to effectively articulate this, then your customers might not be okay with the shift. Your business might also experience an increase in customer churn. At this stage only you will be able to identify how effective your customer communications strategies are and also who are your loyal and trustworthy customers.

Predicting your revenues

You must be prepared for unpredictable revenues at the time you bill your customers if you are looking forward to implementing usage-based billing.

A lot of subscription-based businesses forecast their revenues on the basis of Monthly Recurring Revenue (MRR) but forecasting your revenue with a usage-based pricing model is a little more difficult. One thing that further complicates this is the variable cost of delivering the service; if your expenditure is bound to customer usage, then your associated costs will fluctuate with that usage too.

Billing your customers

Businesses need to have the best recurring billing system for collecting user consumption data and then further charging them timely and most importantly in a transparent way. Subscription businesses must be able to map and collate usage data from many different systems and sources, irrespective of their format, to track usage and apply the right pricing. This is where executing and integrating a robust charging and billing system is important. It helps in streamlining the payment processes and producing itemised invoices.

Conclusion 

Usage-based pricing/business model is a very effective way to improve business performance. However, billing for a usage-based pricing model comes with a lot of difficulties too. This is where Acuiti Labs with its vast experience in ‘consume to cash’ can help the companies in transforming their business model.

Contact us to know how our technical expertise in SAP BRIM can be the right choice for your business?

The wait is over! AcuitiMobi is now available on SAP Store

The much-awaited MaaS application which will enable account-based travel instead of old school ticket-based travel – AcuitiMobi is now available on SAP Store!

Acuiti Labs is proud to announce the launch of its very new application AcuitiMobi. The primary aim of this new age, mobility-as-a-service application is to enable account-based travel and to resolve critical challenges that commuters face while using public transport. Customers can register and easily plan and execute their journeys with this sophisticated application. It integrates various means of transport that an induvial use while travelling like train, car, bus, taxi, bike sharing, tram etc.

This is an on-demand solution for public transport users which works in real-time and offers complete flexibility to its customers. Being an account-based, customer-centric platform, it brings in a lot of options to make the entire journey hassle-free and allow commuters to plan and use the multi-modal transport seamlessly. It offers on-demand capability for individuals to buy entitlements, subscriptions and passes. Basically, providing complete support to a user while they choose different combination of transport to reach to their destination.

AcuitiMobi – Transforming public transport.

Change the way commuters use public transport with AcuitiMobi! There are several ways in which AcuitiMobi is transforming public transport for commuters.

Provide your commuters with an innovative way to use Public Transport while they use AcuitiMobi. The app comes with very simple navigation choices which can guide its users to choose the required multi-modal transport options as per their convenience and make their journeys efficient and enjoyable. It has everything that a user needs for an effortless & stress-free traveling experience. Right from the user’s travel plan to easy payment options, all this is included in AcuitiMobi app.

The primary purpose of this mobility as a service application by Acuiti Labs is to offer its customers account-based travel, with complete flexibility and payment options. This app will change the way people consume mobility by integrating all forms of transport, like taxi, trains, bike, etc. with the unique feature “pay-as-you-go” option!

Unique Combination of Mobility as a Service and SAP BRIM

While you choose AcuitiMobi, you get the freedom of choosing subscription-based or consumptions based billing options, hassle-free travelling experience and a comfortable journey while using public transportation. The combination of MaaS and SAP BRIM at Acuiti Labs opens several options for its customers. Acuiti Labs is an SAP Certified Silver Partner and offers accelerated implementation services for SAP BRIM, Subscription Billing, Entitlement management, and more. Our experience and competency in ‘mobility as a service’ market can help businesses that are looking for transformation and adoption of a new way of mobility by providing clear view and a complete road map to move ahead in the same direction.

Mobility as a Service and SAP BRIM

Customer benefits of using AcuitiMobi –

  • Account based travel rather than ticket based travel
  • Easy pre-book, subscription or consumption based ‘pay-as-you-go’ model
  • Provide smarter and efficient platform to use city transport.
  • Inbuilt features like smart route planning, personalized user-experience, flexible payment choices, and QR code integration.
  • It is based on S/4HANA BRIM technology, thus offering innovative way to use public transportation.
Checkout all the details about the app on SAP STORE

All that you need to know about SAP CPQ and its importance for businesses today

CPQ stands for Configure, Price, Quote. It is software designed to ease the complexities of the sales team by enabling it to generate quotes quickly and accurately for complex products. Each part of the abbreviation represents a key component of the modern sales process:

· Configure: Almost all businesses today are familiar with the old business mantra that says “The customer is the king” — Well, the same mantra is applicable for businesses to succeed even today. Customer’s demand has become specific, and they now expect products and services that can be tailored based on their specific requirements. The precise requirement of personalized products and services from the customers would keep the sales team on their toes to configure and offer custom packages. The sales reps will be responsible to manage and figure out which products and services should be bundled, whether these bundles need to be approved, and what will be the process of getting these bundles delivered to the end customers. This is when the – “Configure” from CPQ comes into picture and helps your reps in simplifying any complexities and confusion that might occur during the process.

· Price: Being a business of modern era, you cannot afford to go with the outdated option of “one-size-fits-all” pricing model. This type of pricing model certainly cannot be followed for today’s customers and, is also not too realistic when it comes to SaaS sales. No matter your business deals with high-volume pricing, bundled pricing or any other kind of pricing which would also include special discounts or offers, you will be dealing with overwhelming number of facts and figures and you will have to keep a track of the same. Here, even a smallest miscalculation can cost you a valuable customer, which you as a business would never want. This option helps you in offering right pricing model to the customers based on the required configuration already done.

· Quote: A quote that is being generated by the sales team must be clear and precise. Not only the quote should look professional, but it is also required to be clearer, precise and must accurately show the price quoted to the customer by a representative during the sales cycle. Also, most of the time a quote needs to be accompanied by various other documents like SOW, Legal, MSA to name a few. CPQ offers a fully configurable solution where all types of documents and templates can be generated and managed and can be used by the sales reps as and when they need.

How does CPQ software work?

Using a CPQ software allows your sales teams to address various challenges that are faced during different stages of the sales cycle. This is done through a combination of process automation, guided selling, and quote management.

When you decide to choose CPQ tool along with subscription management software, you can easily automate complete quote-to-cash process. The automation of the process is done by configuring rules for bulk discounts, approvals, customizations, and more. Whenever any sales process is initiated by a sales rep, CPQ plays an important role and ensures that the entire process is carried out within the specific set of rules that your business has decided and has established for pricing, discounting, approvals, and so on. This determines that your sales team is even more agile and can perfectly streamline the entire sales cycle as per your customer’s requirement.

While you decide to choose SAP CPQ services from Acuiti Labs, you can easily bridge the gap between your front-end sales and back-office finance teams. CPQ can be called a sales tool, which is lot more capable and is not very different from a customer relationship management (CRM) system. It comprises of various things like discounts, contract terms, and billing terms, which are considered closely related to an enterprise resource planning (ERP) solution. That is why, it previously mentioned that CPQ is known for filling the gap that exists between CRM and ERP systems, thus allowing a higher degree of interdepartmental collaboration and making it possible to expand your stakeholder set.

Benefits of choosing SAP CPQ software for your business

There are several advantages of using SAP CPQ software. Listed below are the few of them – Check this infographic to know more

· Never lose a sale due to bad information – Let us take an example to explain this scenario in detail. Suppose a prospect tells one of your sales reps that they are willing to buy two different software licenses, but they would those to purchase as a bundle at a discount. The sales rep initially tells the customer that their requirement can be fulfilled and submits the bundle for approval, only for getting the approval to be denied. The sales rep then goes back to the customer and inform them that contrary to their previous commitment, they will not be able to bundle the products and loses the sale as a result. But when you use SAP CPQ, you can easily prevent this scenario from happening by building in automated business rules and logic — A system with CPQ solution, would have automatically indicated that product bundle was not allowed or could not be done, and the sales rep could have worked with the prospect to find a different solution to this unique business challenge.

· Having a better understanding of customers through guided selling – Your organization’s success largely depends on the way how well your sales reps are able to connect with your customers. Better understanding of your customer’s requirements will always allow you to evolve and offer better service each time. Though a lot depends on what information you are collecting and what questions you are asking. More accurate is the information you collect from your customers, better will be the offerings based on your customers specific needs. SAP CPQ solutions uses guided selling to learn about the customers by targeting specific questions and evaluate itself based on their exact requirements. Once it collects the information, your CPQ solution can automatically produce recommendations customized based on your customer’s specific needs. Another advantage of using guided selling for a business is that it helps your sales team in identifying upselling and cross-selling opportunities. For example, A CPQ Software, based on guided selling can specify a particular software package opted by a large number of customers, which the sales team can further recommend to other customers and increase the sales and revenue for the business.

· Minimizing the complexities and generate quotes with ease – Most SaaS companies have a complex price book, with multiple pricing tiers and dependencies for each tier. Guided selling uses the same business logic and rules mentioned earlier to help both sales teams and customers make sense of these intricate pricing structures by automatically updating the quote as products and services are added. Since everything is done through automation, you can eliminate the risk of human error and ensure more accurate, consistent pricing.

· Streamline the sales cycle – A good SAP CPQ software for your business can help you in eliminating most of the manual data entry and errors linked to these, thereby shortening the sales cycle. CPQ solutions are constantly getting better and are becoming even more sophisticated in with time. It is very likely that the average sales cycle for CPQ is getting shorter and more reorganized with time.

· Increase sales team performance – The performance of any sales team is quantified only through the data and the performance metrics, and the businesses where the sales teams are using CPQ solutions have already shown promising results. “According to the Aberdeen Group, CPQ adopters consistently report higher attainment of sales quotas, higher lead conversion rates, higher average numbers of proposals delivered, and higher average deal size than non-CPQ users, as shown in the table below. CPQ makes it easier for sales reps to identify upsell and cross-sell opportunities, thereby increasing their average deal size.” CPQ solutions also helps in streamlining the ordering process for complex products/services that our organization offer — even enabling customers to generate quotes and place orders on their own, making customers more likely to complete their orders.

· Gain better control over quote document generation – Many organizations that are using CPQ solutions can generate quote documents including custom components and company branding, which is also the requirement of today’s business. When your sales reps produce a quote document that is not only precise and easy to understand but visually pleasing and professional, your business is going to create a lasting first impression and will also guarantee a better overall customer experience.

How to understand that your business needs an SAP CPQ solution?

Deciding whether you should buy CPQ software is not exactly what you need to know; having said that, there are a few key pointers that can make you know that CPQ might be a smart investment for your business. Here are few reasons that can help you in identifying the requirement of CPQ for your business-

1. If your business offers any product or service that has got complicated pricing model, using CPQ not only simplifies the entire pricing and billing model for your customers but also helps you in offering accurately tailored products/services at the best possible price.

2. If you have a product and service, you think is outdated and/or you are looking for a way to update your pricing information.

3. If a lot of time is being consumed by your sales team is putting together a quote for your customers. Or, if they are stuck in difficult pricing or configuring Scenarios that are creating confusion for your customers.

4. If your sales team is struggles to identify upselling and cross-selling opportunities and you are losing valuable customers because of this, then CPQ can be a savior for your business.

5. If your sales team do not have complete transparency and you are lacking visibility through your sales process

6. If your sales team is dealing with a lot of manual errors during the process, CPQ can fully automate the process and help you in eliminating such errors that can cost you your valuable customers.

7. If you are lacking in offering right quotations to your customers and your offered quotes are also unable to meet the demands of your customers, then it is high time you should choose an SAP CPQ software for your business.

8. You are looking to switch to usage-based billing capabilities, CPQ is going the most appropriate business solution for you.

Why Choose Acuiti Labs for CPQ Services –

Choosing right CPQ partner for your business is very important. While you choose Acuiti Labs as your Configure Price Quote Partner, you are helping your sales teams in delivering best in market customized service, and user experiences. All this is possible because of competitive pricing, clear and conscience proposals, and a variety of product configurations we help you with. Our end-to-end CPQ solution speed up the sales cycle for you and allows your reps to effortlessly sell through any channel at any time, improving the overall performance and efficiency of your business.

Basically, if your organization is looking for options to improve the sales process that can help you in configuring products and services in the most appropriate manner, manage all kind of pricing complexities, and help you in automating the complete quote process, then our customized SAP CPQ solution is all that your business need.

Acuiti Labs can help businesses with top-notch CPQ solutions for clients from various industries like Hi-tech, Finance, Media and entertainment, technology, manufacturing, and retail/service industries to achieve their business sales goal. If you would like more information on why SAP’s CPQ technology from Acuiti Labs is right for you, get in touch with our certified SAP Consultant and we’d love to tailor a solution for you just the way you want!

 

 

Why Debt Management is so pertinent for Businesses today?

Do you know with continuing economic slowdown and increasing unemployment, household incomes have been squeezed making it difficult for companies to manage debt.

At the same time, Liberlization & intensifying competition in various markets have posed risk for companies. This is why Debt Management is considered to be really important for businesses today. It is interesting to understand how companies with larger customer base like Utilities, Telecom etc. can be innovative in managing their debt. And how SAP is the right choice?

Let’s go into the details of these question! Companies in Utilities, Telecom, etc. businesses work on the process of capturing consumption and raising bills for their customers. Once these bills are generated, they are sent to the customers giving them a certain period of time to pay the dues. Problem arises when customer do not or cannot pay the due amount in time. This is where companies have to following up with the customers. Challenge with the business process is that due will not become a ‘debt’ until the due date has been traced.

Let’s understand this with an example. Assume that there is a bill with due date of November 25. If the bill remains unpaid, companies will begin the follow up process only after November 25. This follow up with customer over unpaid dues through various channels is part of Debt Management and termed as Collection Strategy.

With millions of customers and invoices to be traced daily, the process requires a robust and efficient tool. This is where SAP provides a powerful tool capable of identifying unpaid customer and invoices, segmenting based on various attributes and perform reminder activities .

So, for Debt management, we use SAP Collection Strategy with BRFPLUS.

Understanding SAP Collection Strategy with BRFPLUS

Based on Business requirement, Collection Strategies are defined in SAP system for different segment of customers. These strategies when executed retrieved all attributes defined in BRFPLUS for each customer to decide the Next Best Action.

When due becomes Debt!

When in a customer account, due becomes debt, the automated process identifies the overdue invoices and how long they have been overdue. All such customers are placed in a defaulter list and this is where debt follow-up beings. Based on parameters like days in arrear, amount of debt, credit profile, last follow-up actions; the list is segmented and the next best action is identified for each customer.

SAP Collection Strategy with BRFPLUS provides a platform which can scale the solution to include dynamically calculated parameters based on mathematical formulas and even can call Function Modules.

Sending Reminder Messages

Next Best Action for Debt Management can range from sending reminder message through text, email to posting charges to performing remote disconnection if customer is not paying of their debt. The most common way that companies follow is to send reminder messages to such customers. If the customer still does not make the payment then, the company decide to send letter or email  warning them about the debt, and also the late charges (if applied). This sequence of steps are known as the collection step.

Simplified process with web-based user friendly UI

SAP Collection Strategy with BRFPLUS also offers a web based user friendly UI which enables Business to take control of the strategy changes. Any change to an existing strategy or creation of a new strategy is now no more an IT change. It also allows running multiple strategies to perform Champion-Challenger & do success valuation to identify which strategy is performing better.

Various option available to ensure changes made by Business in the strategy are risk free like simulation run after strategy change or running the changed strategy on a subset (%) of customer base helps Business check if changes made are aligned to their expectation else can be reverted back to existing version.

Seamless integration with 3rd party Debt Collection Agencies

SAP Collection strategy provides seamless integration with 3rd party Debt Collection Agencies. Let’s talk about a scenario where even after using all means to correspond and remind customer of the overdue, the payment is not received. In such cases SAP allows out of box integration with 3rd party agencies specialized in debt recovery. It allows 2 way interaction where information of all such customer and their debt is passed on to the DCAs and collection or any other feedback shared by the agencies are then accepted in the system. This is an ongoing process where any change recorded on customer’s master data or debt position is informed to the DCA and DCAs either inform companies of the payment they have received or they also mark closure to case in certain scenario.

Advantages of SAP Collection Strategy

  • Robust
  • Flexible
  • User-friendly
  • Agile
  • Scalable
  • Seamless integration
  • Reduced TCO
  • No requirement of getting a new licence

SAP Collection Strategy is not only more superior than its predecessor but also offers all features which other best in breed Debt solution available in the market. With no new licences requirement and no need to maintain complex integration between Billing system & Debt Management system; reduces TCO drastically, making the solution a win-win in all respect.

Why Acuiti Labs for Debt Management?

On Debt Management transformation, Acuiti Labs has collaborated with clients across industry segments like Utilities, Telcom, Postal, Port and supported them in containing their Debt position not only by technology implementation but also by offering Industry best practices. With experts having domain experience and strong technology capability in the required field, we, Acuiti Labs, are best placed to understand your Business objective and co-create the desired solution.

Looking for a Debt Management Solution? How SAP is the right choice?

Are you looking for a debt management solution? ‘Bad Debt’ is a term used by organisations when the user or customers do not or cannot pay their bills. It is difficult to ignore the fact that with the current economic slowdown and rising unemployment, household incomes around the world have seen a downfall, increasing the possibility of delinquency and an upsurge in bad debt charges. The ambiguities arising from global shocks such as Brexit, trade wars, and a possible recession also pose risks for utilities & similar organisations. At the same time, liberalization and intensifying competition in many markets are resulting in higher levels of switching among customers, sometimes accompanied by bad debt when final bills are not paid.

In liberalized retail markets, utilities bear full responsibility for debt collection, but their manoeuvring room in recovering the bad debt is limited by regulatory and political constraints. The focus on maintaining the best customer experience, together with service obligations and provisions such as long grace periods, protection for vulnerable groups, and winter moratoriums, makes it difficult to suspend the service even as a last resort. Public opinion and political pressure act as a further deterrent, and utility companies need to reconfirm to the public time and again that their processes are fully compliant and adhere to the highest professional standards when it comes to debt collections.

Loss of income is becoming a burden on businesses and inhibiting growth, and the situation shows no signs of improving. Sectors like Utilities, Telecom can ill afford to ignore such waste and eliminating it can generate resources to invest in future growth. In a tight economic and regulatory context, utilities need to work harder to prevent and manage bad debt if they want to stay competitive and improve their resilience. Experience shows that companies are better at weathering downturns if they have already cleaned up their credit processes and minimized overdue debt because they are able to move fast to cut costs, protect profitability, and reserve growth capacity. Thus utilities will have to take matters into their own hands. By reshaping their credit and collections processes, they can improve their ability to predict risk, reduce bad-debt charges by, and provide a better experience for customers.

Barriers & Opportunities

Data Analytics & Customer Engagement

Data Analytics isn’t all new for organisations with large customer base like Utilities, Telecom – it’s actually been around for quite some time. there are numerous utilities using – basic behavioural scoring. Analytics is a continuous improvement process to identify ever changing customer behaviour and other collections related trend. Best-practice collections strategies should use emerging trends to segment customers, targeted collection campaigns & quick adjustments to the treatment path.

Continuously improving process requires the ability to monitor the effectiveness of the strategies, performance of customer segment & other relevant KPIs. In addition, advanced data analysis using metrics and trend displays, and collection control dashboards that illustrate KPIs such as status of overdue receivables and corresponding collections actions, will provide the necessary business intelligence to adapt and extend collections activities.

Various trends where Analytics can support Debt Management –

  • Reactive Collection vs Proactive Measures
  • Customer Segmentation: Can’t pay, won’t pay….forgot to pay
  • Customer Behaviour: Payment pattern, preferred mode of payment, initiative customer reacts to
  • Predictive Analysis
  • Identifying right strategy, right action for customer
  • Insight for the next strategy iteration

SAP Analytics Cloud is one simple cloud solution connecting your people, information, and ideas to enable fast and confident decision making. Machine learning technology and embedded artificial intelligence help you to discover deep insights, simplify access to critical information, and empower informed decision making for all.

Developed for real-time BI, planning and predictive analytics that natively integrates to SAP, the solution can predict when proactive action is required, something typically difficult for companies to do. The accelerated value is in enhancing organization’s ability to collect cash and improving its insight into profitability indicators. It also leverages SAC content to seamlessly integrate with SAP data and SAP S/4HANA®. Advanced predictive analytics becomes the quiet driver behind dynamic operational, tactical and strategic dashboards that have been designed with SAP Fiori for a uniform and modern user experience.

Removing system Barrier

There is a basic understanding in industries like Utility, Telecom on the concepts of collections best practices, but almost all organisation lack the technology to be able to adopt best practices. Traditionally, collections have been the technology domain of the Organisation’s customer information system (CIS). Many companies struggle with weak and restrictive collections functionality in an aging CIS. Others may have a relatively new CIS in place that boasts adequate collections support but is missing key features to support today’s best-practice collections processes.

Collection managers, dependent upon the CIS platform & team to manage collections processes to implement improved collection processes. Debt is not going away. There will always be customers who default on payment. But technology has caught up with the problem, and companies now have the option to implement specialist collection software products that enable best-practice approaches.

Some of the best practices followed across the globe are –

  • Rapid change cycles executed by domain experts: Analyse, Optimize, Implement
  • Strategy changes no more an IT change request
  • Scalable & Flexible when it comes to including new changes/attributes that are based on analytical trends
  • Design transparency, improved performance & integration with 3rd party DCAs
  • Offers tailored treatment based on customer segmentation
  • Allows Champion – Challenger strategy and success valuation

SAP BRIM – Financial Customer Care with Debt Management using BRF+

Business Rule Framework plus (BRFplus) provides a comprehensive application programming interface (API) and user interface (UI) for defining and processing business rules. It allows you to model rules in an intuitive way and to reuse these rules in different applications.

Flexibility in changing Business rules in Collection process enables Revenue Management team to –

  • Make their collections rules progressively more targeted, as they become more and more sophisticated with their analytics and customer segmentation
  • Add more sophisticated customer characteristics (e.g. components of credit risk scores, payment behaviour) as the data becomes more readily available
  • Adapt their rules to changing macro-economic conditions (e.g. recessions, political climates, etc) or changing customer behaviours (e.g. greater mobile use, email use)
  • Respond rapidly to unforeseen events

Leveraging BRF+ features to improve Debt Management

Scenario 1: Business running on SAP with Debt Management using legacy Dunning procedure

Debt Management using SAP’s Legacy Dunning Procedure was limited to few attributes like

  • Days in Arrear
  • Amount of Debt
  • Creditworthiness score

Combinations of these parameters were used to define levels and activities where defined as per Business need.

Debt Management with BRF+ is robust, scalable, and way ahead in its offering compared to its predecessor. It is a framework of Business rules which can use a wide range of attributes to determine the correct path for a customer.

  • Master Data
  • Transactional data
  • Derived values using formula e.g. oldest item, energy/non-energy debt
  • Function Module (data from external system/other modules/calculation of attributes not possible through formula)

Advantage of moving to Debt Management using BRF+

  • No additional licenses required
  • Whole loads of attributes to define strategy
  • Simplifies the process of identifying the right collection path, sequence for a customer based on changing payment behaviors, credit history, Debt parameter, etc.
  • Web based UI enabling Business User to control the strategy changes
  • Supports multiple strategies and at run time identifies the strategy or path to be executed on a customer
  • Supports Champion Challenger concept and reports on Success valuation of the strategies

Scenario 2: Business running on SAP but Collection strategy on 3rd Party Solutions

Because of limited functionalities offered by the Dunning procedure, many companies moved their Debt Management solution to other 3rd parties offerings. SAP too understood the need of the Businesses and introduced BRF+ for managing Debt. This has been a game changer for various organisations especially in the utilities, telecom sector who had no option but to move to 3rd party offerings.

SAP may lag on jazzy screens compared to the 3rd party solutions but on functionality offerings,  it’s no less. GUI look and feel also now has been taken care through FIORI.

The real value what Business gets using SAP Debt Management using BRF+  are

  • Simulation in system before actual batch run controlling unforeseen scenarios
  • No additional license cost
  • Huge saving on TCO as the solution is in the same SAP system.
    • Transactional
    • Data Storage
    • Annual Maintenance
  • No hassle of managing multiple real time interfaces to keep data up to date in the Debt management system
  • Improved Customer Service and savings on AVHT as Business User will have to refer to only one system for all the customer relevant information

What comes along with BRF+

BRF+ is like a container for the complete business rules and provides out of box integration with various other processes along with Debt Management. Power of BRF+ can be leveraged in

Billing and Revenue Innovation Management

  • Product
  • Discount/Charge Activation
  • Charge Plan Activation
  • Charge Plan Parameter Value Determination

Sales and Distribution

  • Output Determination

Revenue Account Reporting

  • Integration with Source System (SD, Hybris Billing, CRM, etc.)
  • Account Determination (POB Attributes, Contract Asset, Contract Liability, Recognized revenue, Deferred Cost)

Industry Solution – Utilities

Advanced Metering Infrastructure Event Management

Why Choose Acuiti Labs for your Debt Management Transformation?

Acuiti Labs is an SAP Silver partner and a digital firm that delivers business and technology consulting services, transforming businesses with pioneering and latest solutions. We have proven expertise in delivering successful SAP BRIM based transformation, thus offering complete support for your Business objective on Debt management.

When it comes to Debt Management transformation, we have collaborated with several clients across industries like Utilities, Telcom, Postal, Port and supported them in containing their Debt position not only by technology implementation but also by offering Industry best practices.

Our professional SAP experts have Big 4 consulting experience and strong technology capability in the area of SAP BRIM, Analytics, AI, Big Data, Mobile & other Cloud technology. We are best placed to understand your Business objective and co-create the required solution.

 

 

 

Looking for a media conversion platform? 5 reasons you should try out converter4media today

Any media file converted from one form to another is known as media conversion. Pictures, audios, videos, music, images are the common form of media and many a times users prefer changing these formats based on their requirement. Users look for options that not only deliver the files in desired format quickly but at the same time they keep safety of their file as a priority.

Why is safety of your file matter while converting online?

It is very important to understand the fact that safety of your file remains the priority whenever you look for online options to convert your file in any required format. This still depends on the sensitivity of the file. The more sensitive you think your file is, the more alert you should remain. While looking for options to convert your file, you would find both good and bad services available on the internet and it solely depends on you to identify the right one for you. A proper research is the key to get to the right platform for any file conversion requirements.

What are the different formats that can be supported by Converter4media?

This converter allows you to change image, audio and video parameters easily, making the conversion a simple process. Here is the list of different formats that are supported by Converter4media –

5 reasons why you should try file conversion platform Converter4media –

Available for free – While you use converter4media for any file conversion requirement, you get premium quality service at zero cost. C4M provides you with best output with complete security of the files being uploaded by the user’s end. So if you are looking for a reliable source to convert the file that are also not heavy on your pocket, choosing Converter4media is the absolute choice for you.

Highly Secure – Even if you get premium quality service at just no cost, you are not compromising with your safety and security anywhere. While you use Converter4media, and proceeding with media file conversion, each of your uploaded document is in the safe hand along with the converted document. Be it a single time visitor/user or you are regular visitor, the safety of each of the user will always remain the priority.

User-friendly Interface – The look and feel of the website is designed in a way that even a non-technical person can easily use it for any type of file conversion they might be looking for. The user-friendly interface of the website can easily guide the visitor through the process and help them in achieving the desired output in no time.

Conversion in 3 quick steps – Yes, it is as simple as it sounds! All you need is to just follow the three simple steps that includes uploading a file, choosing the desired format in which you want to convert the file and the last step is to just download the file in the required format and you are done. Even if the conversion steps are simple and quick, the quality of your desired document remains intact.

Works on latest technology norms – The platform is built on the latest technology and thus is capable of delivering the result in the most appropriate form. Be sure about the quality of the file format you are downloading when you use Converter4media.

Converter4media is an easy to use online media file conversion platform with utmost safety and it is all you need while looking for an online file converter. From being safe to providing the smart interface, this product by Acuiti Labs is certainly going to make your converting job easiest than ever. Look no further, while you have any conversion requirement like image conversion from .jpeg to .png or a video conversion from .mp4 to .flv, it can do it all for you. This online converter is capable of providing higher quality file conversion options for almost all the file formats available today thus offering you a one stop solution for all kinds of file conversion requirements you might have.

Converter4media is surely worth giving a try and all that you want in an online file converting platform! Wait no more and visit to explore the amazing converter today – https://converter4media.com/

 

BRIM Dispute, Dunning and Collection Management. Role of Acuiti Labs

What is SAP BRIM?

SAP BRIM, also commonly known SAP Billing and Revenue Innovation Management is nothing but a high-volume usage-based solution that’s sole purpose is to ease complex billing and invoicing processes and simplify the entire process for the businesses. It improves the flow of selling and re-selling of products and services and sharing revenue in the most appropriate way.

SAP BRIM for Dunning and Collection Management – Process Overview

Here are the few steps that can help you in understanding the complete process of SAP BRIM – 1. Define Service Products and Bundles: During the first step, along with defining the product, product relationships such as cross-and up-sell is also identified. Then further comes bundling of any services & products followed by a configuration process based on the requirement of the customers. There can also be Reuse of rate plans for different products 2. Contract Creation and Management: Next in the process comes the contract creation part where order decomposition and Contract lifecycle management in initiated. 3. Mediation and Rating: The third step in the process is responsible for managing high volume, real-time and batch mediation and rating. All the metering, balance management and splitting of debits and/or credits are carried out in this step of the SAP BRIM Process. 4. Billing and Invoicing: Not only simple but also in a very effective manner the summarization is done, special attention is given so that there is no loss of detail. Required Billing and Payment Statement support, Reverse-and-rerate process support is provided during this step. 5. Accounts and Receivable: This is the final step of the process and here the receivables management dunning & collections payment handling is done. Line-item Dispute Management Credit Management is also part of this final step.

What is Dunning and Collection Management? How can SAP be the best choice?

Using SAP BRIM for Dunning and collection Management – Dunning is the process of methodically communicating with customers to ensure the collection of receivables During this process notices are sent to the customer with overdue items, requesting payment of the outstanding amount by a specified date SAP BRIM leverage the concept of the Business Rules framework to identify the appropriate collection step (action) as per the latest parameters of the customer account.

Features of using SAP BRIM for Dunning and Collection Management

Dunning – · Configure multiple collection step for the Collection Strategy. · Tailored treatment for different segments of the customer · Running Champion-Challenger – Multiple strategies running in parallel · Success Valuation of each strategy, each action for continuous refinement of strategies · Dunning history and traceability of all actions to overdue items · Automatic interest/charge calculation & posting in the run · Customer-specific activities based on pre-defined function modules like integration with 3rd party debt collection agencies · Mass reversal of dunning runs including dunning activities · Simulation in production before any major in the strategy being deployed Collection Management – Significant way to reduce the time spent in collections from customers By using collection management software it becomes easy for the organizations and the individual to manage, control, and align the entire collection flow. Buying and spending a lot on software like CRM or ERP for bringing in more leads and get those closed quickly is fine but not on the cost of ignoring the remaining part of the process. Rest of the process that comes after the contract has been signed or the product has been delivered, where to close the loop you have to collect the money that is owed to you. The process of collecting the money isn’t as easy at it seems and requires a lot of time and efforts. Opting for a collection management software to streamline this process has turned to be really beneficial and time saving by a lot of businesses today. Here are a few benefits that a lot of companies have already realized by using collection management software – Faster Payments – The organizations that are already using collection management software receives the payment 20% faster when compared to the organizations that are still following the traditional way and using the manual systems. Better and Accurate Cash Forecasting – A typical collection system often fails when it comes to cash-forecasting but while you use collection management software, your team will be given the advantage of tracking the expected payments along with providing a statistical cash forecast. Companies can easily get details about the expected payments that can be further utilized for confirming the statistical cash forecast for more accurate cash flow management. Increased fresh/unused credit lines – A collection management software is very useful in identifying unused or fresh credit lines and get details of the lower-risk customers. Once these customers are identified, you can help them in buying more products and services from your company. The receivable end of the collection management software helps in getting a holistic view of the complete accounts receivable process so that you can have a clear idea about how improved and systematic credit management is positively impacting the future sales of your company. Become trusted receivable with better borrowing position – Every organization requires capital for better growth and future improvement. Having said that, it is not an easy job for many companies. When you choose to borrow money for capital improvement, banks thoroughly calculate and review your receivables to determine what amount of money can be provided to you and at what interest rate. The organizations that are using collection management software mostly have healthier accounts receivable and are considered qualified for larger amounts from the banks that too at minimal interest rate. A lower interest rate can help the companies in getting huge potential savings over the course of each loan. Highly reduced bad debts – The organizations that use collection management software systems typically cut down bad debt by 15-25% as this software successfully identifies and resolves any disputes very quickly and prevents them from aging to the point where they’re uncollectable. Better reporting and analysis – The use of collection management software makes it highly feasible for organizations to get better reports that are pre-configured, consists of labels, catalog, templates, checklists etc. CMS ensures that data can be easily exported in a variety of useful formats.

Acuiti Labs – SAP Consulting Firm

Acuiti Labs is an SAP silver partner with a specific focus on Lead to Cash processes including SAP Billing (BRIM) and SAP CX Sales Cloud. We are a consulting firm with proven expertise in delivering successful SAP Billing (BRIM) based transformations. With Big four consulting experience in delivering digital transformation programs using SAP and other enterprise applications, we also have strong open source technology capability to deliver projects end to end with AI, IoT, Big Data, Mobile & Cloud technologies.

Advantages of choosing Acuiti Labs

Supporting various clients in Postal, Utilities & Telcom in their Debt Transformation journeys European & US Experience • Team of consultants with Big Four consulting experience. • Delivering solutions to US, EMEA clients Full Range of Services • Delivering in the new age of digital transformation by providing a wide range of business and technical capabilities. Relationships and People • Partnership with our clients and maintaining a strong relationship is of utmost importance to the firm. We always go the extra mile Teams based in UK & India • Creating value through a mix of cost effectiveness and exceptional talent pool by leveraging geographical advantages Flexible Delivery Models • Providing multiple options of engagement and resource mix to ensure exceptional quality whilst allowing clients to maintain control

Acuiti Labs – We are an advanced BRIM competency centre because we offer:

· BRIM Solution Architecture · Subscription Order Management (SOM) · Convergent Mediation · Convergent invoicing and FICA · Convergent Charging · BRIM Technical, FIORI & Integration

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