Money that comes in and goes out of the business
As a Microsoft Partner and CSP, a requirement is to have automated billing systems and accounting systems in place to keep a record of transactions and send out invoices. While the line between the two different systems has blurred in recent years, billing automation and accounting systems still serve two different purposes and require a software decision.
Today, we’ll review the differences between automated billing and account systems in order to help cloud businesses build efficiency.
The Differences Between Automated Billing Systems and Accounting Billing Systems
An accounting system like Quickbooks, NetSuite, Xero, or Freshbooks, is meant to document and classify all of a business’s financial transactions. It is most commonly used to show the following data:
Most accounting systems allow users to create manual invoices, which can handle the needs of the typical smaller business. However, a cloud service provider bases its billing and invoicing on more complex information such as customer provisioning, pro-ration, license tiers, and discounts.
While this information can be manually compiled, doing so consumes significant time that could be better spent elsewhere in your business. That’s where a billing automation system comes in.
Automated Billing Systems
A billing system automates much of the manual work required to create an accurate invoice. Billing systems typically track the following:
Want to scale your cloud business?
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Why CSPs Should Use An Automated Billing System?
Automated billing systems like Work 365 help CSPs send and track more accurate invoices so they get paid more quickly with less effort. When integrated with an accounting system, Work 365 can help businesses:
See how Work 365 can improve the accounting and billing systems for your cloud solution provider business with a demo.
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