Mobolutions is an SAP partner, facilitating Billing And Revenue Innovation Management (BRIM) implementation services to our global customers. Through SAP billing and revenue innovation management, SAP provides a robust solution for the entire quote-to-cash process.
This product process is complemented with many other additional services and some of them can be sold based on a subscription or can also be based on the usage scenarios. for instance, some of the additional warranties can be sold with the physical product. Also, New innovations are still booming in this age with new developments such as a smart vehicle or video entertainment platforms.
Any one-time sales transactions can convert into being more consistent and more predictable streams. SAP S4 HANA billing and revenue innovation management (BRIM) is an end-to-end billing solution for recurring revenue at a very high transaction volume. BRIM covers the entire process chain starting from the product and then subscription modelling and enables the clientele to manage the usage data as well as pricing and charging processes. BRIM natively integrates into a very high-volume billing into financial excellence powered by SAP S4 HANA.
FEATURES OF BILLING AND REVENUE INNOVATION MANAGEMENT (BRIM)
- Subscription Order Management
- Convergent Invoicing
- Contract Accounting
- Revenue Accounting
Subscription Order Management
Subscription order management enables the clienteles to offer their business solutions as a different combination of products and subscriptions which are based on the utilization-based pricing models. It also helps in acquiring many new customers with detailed targeted subscription offers and boosts the average revenue per customer. and to lower the customer churn rate we can also make the changes more efficiently. with SAP S4 HANA, clienteles would be real benefited from additional features for auto-renewal of existing contracts. furthermore, subscription contracts can also be created with recurring charges while these charges can also be managed via convergent, billing plans or through invoicing.
A typical use case for a subscription-based scenario is a device. As a service provider take any of a hardware device such as a laptop, desktop tablet, printer, or even a mobile phone and then bundle it with a variety of services and different software and sell it to a clientele for a monthly subscription fee. This gives clientele a single contract and just one provider to be accountable
FEATURES OF BILLING AND REVENUE INNOVATION MANAGEMENT (BRIM)
Convergent invoicing is a flexible solution to automate the billing structure and invoicing process. It fuses pricing from many sources just to produce an easily understandable invoice and offers that drive legality, cash flow, and increase customer engagement. There are new features that are available just to support big resellers with summary invoices the various end-customer subscriptions may be made together and arranged in a single billing sheet. With this functionality, the number of items can be reduced, and major problems can be avoided.
Contract Accounting
Contract accounting covers receivables management and, processes. It is mainly designed for high volume-based subscription businesses. the application is already highly automated to handle the high volumes of business partners. this 2021 we can also leverage machine learning to reduce manual clarification cases. More than 90% of payments can be made automatically using a rule-based approach in the high-volume scenario and the remaining 10% can be done with manual effort. another new feature in contract accounting is message-based situations. this process runs with a fully loaded automated background job. message-based situations offer a framework just to notify the business user about the potential problems. these message-based situations come with a follow-up prompt and can be triggered automatically based on the framework which makes process controls significantly much easier.
Revenue Accounting
SAP S4 HANA for billing and revenue innovation management (BRIM) and, SAP revenue accounting and, reporting integration helps to efficiently recognize the revenue. when the contract with the clientele has been identified, the performance obligation also needs to be defined for the contract. The performance obligation price can be defined based on the amount of consumption regardless of the quantity. according to IRS, 15 guidelines are insured.