Creating Flexible Pricing Models And Consolidated Invoices: How SAP BRIM Redefines The Subscription Economy?
Businesses in all markets are implementing strategies to move away from one-time purchases and into long-term partnerships based on the concept of continuous value distribution. In today’s digital economy, you must be able to effectively develop and deploy streamlined, customer-centric business models that satisfy your consumers while differentiating you from the competition. And, when you partner with your growing business partner network to extend your offerings and provide innovative digital services and products, you must incorporate them into your business model and share revenue with them.
Depending on the business model, you may implement a variety of pricing strategies. In the recurring revenue space, we most frequently see the following billing models:
Usage-based billing: Consumers will only pay for how much they were using the product or service. Customers are billed on a standard, pre-determined basis for post-usage charges.
User-based billing: SaaS software, which is generally used by bigger organizations, could also use a user-based billing model, in which recurrent billing is dependent on the number of ‘seats’ which are serviced.
Flexible Pricing Model
Create Personalized Offers:
Create customized plans in quick time and maintain your business profile flexible and reliable which keeps your business model manageable and consistent.
Real-time operations with high agility, quick response, high availability, and optimum scalability.
Flexible Integrations and Web Services allow you to easily adopt the solution into your framework.
Convergent invoicing allows you to integrate usage from different accounts into a single invoice, enabling you to attain lower-priced rates quicker. You may also add inactive requests from one account to another account.
Benefits of consolidated billing include
One consolidated invoice: If you make several payments or enroll in multiple classes, you can receive one invoice.
Cumulative orders: Regardless of who of the employees is making purchases or where they ordered, they are all linked on the same invoice.
Bundled charges: Having all purchases reported on the same invoice simplifies budgeting and billing.
No more missed payments: Instead of missing or ignoring bills that are almost due by error, you only have several invoices to keep track of. This will assist in making missed transactions a matter of the memory
With transparent and correct invoicing, you will increase customer loyalty while reducing unnecessary issues. With robust invoice-level valuation capabilities, you can customize offerings and costs. Bringing orders to your billing and payment periods, allowing you to forecast and schedule your revenue and expenses more reliably.
SAP BRIM (Billing and Revenue Innovation Management), allows you to build sustainable digital solutions by allowing for flexible pricing and revenue control. This SAP BRIM subscription solution model helps improve your business models to have a great end-user experience which allows you to get real-time customer acquisition of subscription and usage-based resources.