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How can billing software help resellers capitalise on emerging technologies?

18th February 2022  by Gareth Pritchard

All resellers need to be ready to adapt to changes in their industry, and the right billing system is a linchpin to the monetisation of emerging opportunities.

Resellers need to be monitoring what is going on in their industry, spotting the changes that they can capitalise on and moving swiftly to develop go-to market propositions that meet the needs of their customers.

Billing Systems for Resellers

A reseller needs a billing system that is flexible and offers a wealth of options which will help them to enter new markets and create competitive product offerings that stand out from those of their competitors.

Increasingly what’s needed is more than just a billing system.

Resellers want that wrap-around service which brings their sale-to-bill process together into one single flow of data that doesn’t need to be re-keyed along the way.

They want to simplify and unify their internal processes and teams, creating repeatable processes and automated activities wherever possible to save them time and effort and allow them to re-focus internal resource elsewhere.

The Evolution of Billing Systems

We believe that the ongoing evolution of billing systems will continue to bring customers ever closer to resellers and drive revenues.

All good billing systems should offer tools which the reseller can provide to their end customer, putting information directly into their hands and empowering their self-service experience.  Portals, apps and APIs are an essential toolkit to give resellers the ability to more effectively and efficiently connect with their end customers.

These tools put the end customer in greater control of their own services and options.  They can make it easy for end customers to interact with their reseller at the right time and in the most appropriate way, making sure they always have the best customer experience.

Portals and apps can also provide a quick and easy way for resellers to market new products and drive additional business.

Billing and provisioning go hand-in-hand, so when a billing system expands into automated provisioning, it’s extremely powerful.

Putting the power into the hands of the end customer to place orders themselves, directly onto the reseller’s preferred supplier, and for the billing to be automatically generated upon completion of the order, saves the reseller time and effort while proactively driving sales and revenues.

The Evolution of Big Data

The evolution of big data, business intelligence and analytics also presents an opportunity for billing platforms to add value by enabling resellers to generate real value and growth through deep insights into the vast volumes of customer data held by these systems.

Information is powerful, but it can be difficult to get hold of the right information in the right format, especially when dealing with large volumes of data and disparate source systems.

Having all data in one billing system has huge benefits for resellers, making management of their end customers and their products simpler and more effective.

With the accelerated changes we’ve seen in the past 18 months within the industry, it’s become more important than ever for resellers to really understand the data they hold for their end customers and the products they currently use.

Having the right data at your fingertips in a condensed and understandable format can help a reseller to react quickly to changes within the industry.

The right data analysis tools will support a reseller to produce targeted sales and cross sell marketing campaigns to win more business and drive more revenue.

Want to know about more about Union Street‘s billing software? Get in touch today.

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