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, and why 2020 is the year for businesses using the subscription billing-based model:
1. 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 in 2020 have already integrated this into their current billing system and are significantly delivering better and more accurate results along with great customer satisfaction.
2. 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.
3. 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.
4. 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 in 2020 and in the coming years.
5. 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. 2020 will be mostly based on a mantra from customers – ‘The simpler the better’ They will be looking for simple yet very effective systems to deal with their billing requirements. And this is the reason a lot of emphasis is being put on 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.