Sell to who will pay: In order to make sure there is no risk of non-payments you need to establish credit limits, do background checks and ensure that you won’t be left with the proverbial “bag in hand”- this is typically part of your Sales Process.
Recurring or Subscription Business
As Simon Sinek says – “Start with Why”?
Volumes play an important role in a recurring or subscription business. This revenue is billed more frequently, in fact monthly- for 1 customer you are generating 12 invoices a year! The invoices are typically smaller in size than one-off sales. If you are reselling products (which is true for most Microsoft MSP Partners), the margins are tight. If customers don’t pay or delay payments, there is an impact on cash flow.
How to Collect Cash Faster?
Billing and subscription management have always been a major challenge for Microsoft partners. Thousands of products are available in the market today, and new ones are constantly being introduced by Microsoft, which makes tracking all these new products and associated changes a Herculean task for partners.
Since partners offer a variety of Microsoft products and value-added services to end customers, staying abreast with all the changes Microsoft introduces is extremely tough. In addition, manually keeping track of every variation, implementing necessary price changes, or integrating new updates is a time, effort, and cost-intensive process. Add to it the edits that need to be made to the product catalog or the changes that have to be made to product bundles, so they continue to be in line with the latest updates, trends, and innovations.
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efficient provisioning and subscription management
What Systems are Involved in Generating an Invoice and Collecting Cash?
The problem with the above situation is that while you’ve got all the pieces together:
What is Required for a Successful Billing Automation Solution to Generate Accurate Invoices and Collect Cash?
Cash Collection is a business function:
Work 365 offers a Billing and Subscription application that helps cloud companies archive the necessary requirements and processes to grow their revenue.
Understand changes a Microsoft Partner needs to make to eliminate roadblocks and scale business growth.