Subscription Billing Suite and the Quote-to-Cash Process

Quote-to-cash is the integrated business sales process starting with product configuration, pricing, and quoting
and continuing through the contract’s lifetime and payment receipt. Rather than having siloed steps with many manual touchpoints, a comprehensive quote-to-cash process allows for information consistency and improved insight into contracts, performance, and future revenue.

With the right quote-to-cash process and a robust platform to support it, the sales process is smoother, the chance of error is lower, and customers are satisfied

A comprehensive system capable of accommodating different pricing structures is essential to maximizing reach and maintaining a high level of customer satisfaction. With an intelligent pricing engine capable of managing complex structures, organizations can react to market demands without straining their staff or risking the chance of error.

Usage and consumption data can be imported directly using a wide variety of data inputs to create one seamless process and eliminate bottlenecks. With accurate and timely usage recording, organizations can expect a quicker payment turnaround and customers are confident that they are billed fairly.

Subscription Billing Suite’s pricing management engine also excels at handling pricing changes and adjustments at any point in a billing period with automatic pro-rating. With the flexibility to suit so many different pricing structures, SBS allows organizations to take control of their business model with ease, and to quickly adjust to changing customer and market needs.

Goals

• Improve market segmentation and insights
  • Offer clients different tiers of functionality
  • Segment markets & price based on usage
• Allow custom offerings
• Maintenance and support bundles

With two or three contracts, renewals are tedious, but not impossible to manage manually. Each renewal requires the same process to be done and this time-consuming and repetitive task takes accounting departments many hours that could be better spent otherwise. These manual processes are also error-prone and can result in even more time spent fixing mistakes and trying to re-win customer trust, and the problems only grow as the number of contracts to be renewed grows.

Subscription Billing Suite expands upon basic billing functionalities with much more flexible billing  frequencies and parameters, and error-proof management of mid-term contract adjustments, and terminations. In addition to accommodating different billing and invoicing time intervals, SBS effectively manages event-based and milestone-based billing at the line-item level.

Goals

• Invoicing intervals
• Renewals on a recurring basis
• Hold and resume
• Adjustments
• Terminations (Cancellation w/ credit or bill remaining)

Subscription Billing Suite streamlines the revenue recognition process using intelligent deferral schedules and eliminates organizations’ reliance on time-consuming and error-prone manual processes.

With the ability to recognize revenue and expenses at the line-item level, SBS provides a clear path towards compliance with IFRS 15 and ASC 606 and eliminates the uncertainty from your year-end process with audit-friendly reporting.

In addition to enabling compliance, automating the flow and recognition of unbilled and unearned revenue equips organizations with real-time deferral balance, declining balance, and waterfall reports for greater insights into their financial position.

Goals

• Complying with IFRS 15 / ASC 606
• Showing profitability across different periods
• Enabling better reporting and forecasting for future periods including deferral balance, declining balance, and waterfall reports
• Quicker audit process