Businesses are set up by their owners for two principal reasons. To maximize wealth and profit at the same time. Shareholders want to earn a profit from their products, and they also want to see the value of their business increase. However, lofty these aims may be, achieving them is impossible without an effective payment…
This article talks about what enterprise billing platforms are and how they support subscription and usage-based billing models. What are billing platforms? A cloud billing platform is an automated system or application that combines hardware and software to rate, charge, and bill product and services using user information from a customer. It can produce an invoice,…
10 Common Mistakes to avoid when adopting A Subscription Model? Currently, the subscription economy has gained considerable ground with their business. Industries are now moving towards subscription-based pricing. Thus; they are by-passing most slow movers while resuscitating many struggling companies. Speculation has it that it must be a significant revolution where ownership ends, and users…
OTT means “Over-the-top” and some people refer to it as “value added”. We’ve been using OTT services for years now without ever realising it. An OTT service is basically a serviced used over the network services you receive from your service provider. Here’s an example of an OTT service to help you understand it. You…
If you want to run your billing functions using an external service then your main choices are cloud billing, managed cloud billing, and billing as a service, more commonly known as BaaS. While many people use cloud services to store their data and businesses use them to deliver content, services, accounting programs, social networking services,…
Subscription-based businesses evolve over time and with this evolution comes a need to have a greater level of control and flexibility over the types of plans they offer their subscribers and the prices attached to these plans. Businesses rarely ever succeed by taking a one-size-fits-all approach and it’s no different for a subscription business. Customers…