The consumers are game for Recurring Payments

Recurring Billing can be extremely beneficial for billers as well as customers due to its simplification of the payment process, ameliorating the payment experience and eliminating hurdles to on time payments. The number of consumers deploying recurring payments option to enable them to stay abreast with their bills is growing by leaps and bounds. There has been a significant increase in the amount paid through recurring payment over the past few years.

A large share of the consumers worldwide has signed up for a recurring payment plan for a student loan or education loan. However, not all the quarters of the economy have been receptive to the recurring billing concept. This is manifested in the sedate pace of growth in some industries that leaves a tremendous scope for the billers to get acquainted with this fruitful and well suited service. Auto loans and mortgages have been the areas of significant success from the recurring payments perspective. However, even in these domains the growth has been stagnant for past three years.

Recurring payments provides the consumers and billers with an array of benefits. Consumers prefer to pay their bills without the hassle of checking their mails or anything. They want to be assured of the fact that their bills will be paid on time and their payments will be received without any botheration. Recurring payments facilitates the consumers by ensuring expediency and timeliness in regards to their bill payments.

Read More

MRR- Surely an Integral Metric!

In today’s competitive times where billing is one of the most integral parts of a business, the conventional ways of billing surely do not suffice the purpose. A successful billing system is one that is flexible, scalable as well as customizable towards both the enterprise as well as the customer.

There are certain factors that make the traditional billing solutions lesser congenial for today’s market scenario: Costly maintenance, industry specific, slow time to market, slow delivery, higher error possibility and high cost of change. At the same time, the newer enterprise billing solutions have been delivering the best results with their range of aspects: Low cost of ownership, minimal cost of change, good amount of time to market, speedy delivery, lesser possibility of errors and instantly upgradable.

To cope up with the needs and expectations of the current customer, the market has really taken up subscription commerce. MRR billing is imperative to a subscription business. It refers to the billing that involves effective monthly recurring revenue from various active recurring subscriptions under the account. This metric of MRR, very precisely, indicates the recurring revenue of the following months as well. The accurate monitoring of the MRR also helps in identifying customers’ characteristics, along with segregating the loyal customers who are paying and using the services, and those who are paying for them but not using these services.

MRR, calculated for one month, gives a true picture of the health of the business; and plays a crucial part in recognizing month over month trends; peeping into customers’ satisfaction; in forecasting future months’ trends; and in devising as well as implementing most suitable plans, policies and strategies accordingly.

Read More

Key Benefits of Roping In Revenue Leakage Solutions

Revenue leakage is considered to be the most significant threat to any business in current times. Also the effects of revenue leakage are contagious and severely affect the entire organization. To reduce this leakage and minimize fraud, new business services and revenue leakage solutions need to be continually introduced. These solutions should be such that they allow the business analysts to detect and fix leakages as soon as they are discovered.

Businesses that are based on subscription commerce deliver subscription oriented products and services to their clients. For such businesses and for others as well, the traffic needs to be monitored as it could actually indicate the anomalies and also the inaccurate use of services, if any. There are several cloud services that provide an effective leakage solution to manage revenue flow. This solution lends a congenial and easy to use environment for not only the control, but also an automatic interruption of services if any ambiguity is being observed. Such revenue leakage solutions also provide expert mediation, billing and fraud management. These define, monitor and control revenue streams at various processes within the business, thus enabling the business to achieve cost savings, high ROI and fast returns with minimal investment. Benefits such as advanced auditing and a configurable reporting tool are quite useful in a faster decision making as well as in creating accurate revenue reports.

Thus all in all, such solutions improve customer retention along with reducing operational costs, thus working in complete favor of the organization.

Read More

Benefits of a Subscription Business

The subscription based companies are definitely not new, and rather, are an emerging trend in the shopping world. It is a great shopping platform for consumers who love convenience. For the business owners too, subscriptions seem to be the practical solution to retain existing customers and also rope-in new ones. The major advantage of subscription commerce for the company is that a shopper gets converted into a subscriber, which means a resource of futuristic recurring revenue.

However a business enterprise needs to take a few steps in order to maximize profitability:

• The business needs to analyze the sign-up incentives/discounts/offers before putting them across to the customers, which for sure, would retain existing and potential customers.
• Let the customers handle their own subscriptions by giving them control over their orders as well as their deliveries. This is bound to accelerate an affirmative response.
• Up selling and cross selling products would surely strengthen the relationship between the customer and the seller.
• The business needs to analyze retention as well as churn point to maximize profitability and retention of subscribers.
• The business should provide a sophisticated payment –processing platform to ensure flawless payment transactions.

All in all, the subscription recurring revenue provides predictable revenues, cash- up front and scalability to the business that allow it to grow in terms of revenues generated, without having to increase its costs, in the same proportion.

Read More

An Overview Of An Effective CSP

Every business enterprise strives to fight revenue churn, which acts as one of the major problems of a business. In my own firm, the management and I decided to rope in the 3S of Mckinsey framework- Strategy, Structure and System. Mine is a communications enterprise, a kind which involves continuous interaction with the customers. Also the billing department has to exhibit utmost efficiency and transparency while computing the content billing for each customer. Various rewards such as coupons and discounts are rendered to the all-time loyal customers, which is a very effective way of enterprise reduce churn of both revenue as well as of customers.

Content billing comprises of various content that is accessed by the customer for which he pays the actual amount along with the monthly bill of the telephone. Also in subscription based businesses, constant communication with the customers such as automatic subscription renewal and billing reminders are extremely recommendable. This is very effectual in reducing the customer churn, and also in pulling in more potential customers towards subscriptions. An enhanced receivables management also plays a vital role in boosting sales as well as other processes in an enterprise. 

 

To remain competitive, Communication Service providers (CSP) like ours, need billing systems that are fairly customized and personalized towards customers. We also strive towards a convergent billing system that has been rendering higher operational efficiency, enhanced customer care and a greater profitability. In addition, a convergent billing solution implementation is bound to aid costs control, at all distinct levels within the business.

Read More

Get Content Billing Software To Increase Your Revenue

If you are looking for reliable software that can help you, as a content provider, offer billing to your clients, then you can consider the subscription billing platform offered by Aria Systems, a leading company that is powering recurring billing for enterprises in all the fields.

Anyone in a profession that involves sending recurring bills to the clients may benefit from the software that manages the revenue along with sending the bills. Content providers often work on contractual basis and charge their clients monthly subscription fees or yearly subscription for accessing the website content including blogs, articles, etc. Like other retailers and businesses that offer subscriptions, content provider offer billing for subscription and collect their revenue.

Content providers’ subscription models depend upon online merchant accounts. The customers usually pay the subscriptions using their credit cards, which are often pre set to make the payments that they need to make every month. The transactions take place automatically and thus make it a convenient and hassle free process. Content billing helps clients have access to the IP content such as videos, games, audio, articles, etc.

The content billing depends upon the method of settlement and the technology used by the client. Aria systems works more closely with the clients and understands their requirement and this is the reason that their billing software is designed to help the businesses do well in their field. Their content billing software aims at improving the revenues by boosting the products of the company. It also helps in expanding the subscription base. By adding flexibility to the rating systems, changing the pricing strategies, and introducing attractive tariffs, they help in attracting new subscribers and promote the products and services of the business.

The system automatically updates the client’s credit card information. The system helps you increase your recurring revenue with the help of attractive features. To know more, visit www.ariasystems.com.

Read More

Business Management Services Can Enhance The Performance Of A Business

The need to control risk and to minimize revenue leakage is quite evident in a business. To cater to the growing frauds and scope for revenue leakages, there are several managed services available for a business, in all parts of the world. One of such managed services is the revenue leakage software that when employed in the right way, minimizes revenue leakage of a firm, thus strengthening its overall capability. Another managed service is the revenue assurance. The functions of revenue assurance are not only limited within the organization, but also comprise of managing multiple units, and that too internationally.

However by seeking assistance from such business management services, a business can benefit in a variety of ways. The overall performance of the organization is bound to improve; the various business processes improve; revenue leakage is minimized; and the customer experience is significantly improved, thus roping in more and more number of customers. The revenue leakage software however, acts as an ideal tool for small scale businesses and retailers by increasing the sales, making customers happy by accurate billing and effectively maintaining inventories.

In understandable words, revenue leakage defines the difference in the revenue actually generated and the revenue that was supposed to be generated in a business. There may be several reasons for revenue leakage, depending on the nature of the business; but effective revenue leakage software reduces the impact of revenue leakage on the business.

Aria systems offer some of the most fantastic tools to its clients that provide a range of business solutions to all sorts of businesses’ enterprise; all in all enhancing the performance of the business within itself, and within its congruent markets.

Read More