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.
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