Maintenance and Subscription Billing Automation, Monetize Existing Clients and Drive Renewals
Several challenges might be faced when managing recurring revenue streams like maintenance and subscriptions. Firstly, reduce acquiring cost of new clients and on having them, monitor closely their satisfaction and billing process to ensure renewal. Capitalize quickly upon the derived opportunities to improve profitability and customer value. Watertight compliance and revenue recognition processes to be promoted if running public company.
According to Iron Mountain Digital President, John Clancy, “Our ability to manage billing system has transformed by converting to a single system from multiple fragmented systems. Our digital business is made easier with BCS OneWorld to interact with clients of data archiving and protection services for invoicing and billing matters.
BCS offers crucial end-to-end functionality required to meet recurring revenue model based challenges and convert maintenance and subscription processes into competitive asset. With recurring revenue management abilities of BCS, you can:
Enable sales and services to effectively up-sell and cross-sell higher rate plans or add-on services to client base to improve client profitability.
Flexibly, accurately and effectively manage recurring and one-off billing process for maintenance and subscription based revenue streams.
Offer employees with better visibility into the customer’s history with the organization to drive renewals and equip them with the necessary information to optimize renewal dates.
Key Facts
Monetize current clients
Drive client renewals
Automate maintenance and subscription billing.
Recurring Revenue Management Features of BCS includes:
Billing Process Management
Client self-service
Revenue recognition on contract terms
Partial-month proration
In-arrears or advance billing
Support varying payment terms
Recurring or one-time billing
Comprehensive recurring billing activity
World-Wide Subscriber Base Support
Subsidiary support
Simplified tax management
Multi-currency support
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