Accelerate your Time to Market with SAP BRIM.
Why is it important to have an accelerated Time to Market?
tightly manages accounts payable and cash flow on a daily basis,
Organizations must have a faster approach to bringing in ideas and executing them as the growing trends and customer relationships demand new features and advancements on the go.
Let us consider mobile phones for instance. As consumers, we expect new features like build-in advancements, apps, better storage, camera quality, and so on. These demands drive the mobile phone manufacturing companies to bring in those features and launch newer versions each passing year or month.
How does SAP BRIM help speed up the Time to Market?
SAP BRIM offers a subscription-based billing solution that improves the overall process right from order capturing to bill settlements. The faster order-to-cash flow will strengthen the growth potential of businesses as customers choose convenience.
For instance, let us say that a most awaited movie has been released. Now there are three ways that you could choose to watch this, the first one is to go to a theatre by going through the process of purchasing a ticket, finding a suitable day to go, and finally arriving at the venue. The second one is to buy a DVD after few days of the movie release to avoid pirated copies. The third one is to have a subscription on an over-the-top platform that would stream the same movie on the same day. The third choice seems the most convenient and eventually people are going to engage more on such platforms.
This is an ongoing change that is happening in almost all industries as they choose convenience over legacy systems. Here are the steps on how this change is brought to action.
Subscription-based order capturing, and management
Captures customer orders, creates contracts for consumers and business partners, manages contracts, catalogs, and processing the order.
Automated charging, billing, and invoicing
The SAP BRIM encompasses charging, billing, and invoicing to process the same automatically without any manual involvement. It has a rating mechanism that calculates the billable items, aggregates bill, creates an invoice, and sends it to the corresponding contract.
For larger volumes of data, the peripheral component by DigitalRoute can be integrated along with the other components of the SAP BRIM solution to bring in collecting data from various sources into one. This makes the whole data identification for contracts simpler when there is mass data present.
Automated bill settlements
Determines if it’s a customer contract or partnership contract, collects the account receivables, processes account payables, carries out the country-specific payment process, taxations, and so on. Subscription billing capabilities save us lots of time that we used to spend manually tracking renewals or managing complex billing terms.
Subscription-based billing is the future and COVID-19 has accelerated this change to a broader range in the past year. SAP BRIM offers this in a more feasible and reliable environment. The time has now come that consumers and businesses completely shift to subscription models to experience revenue intelligence and comfort along with enhanced Time to Market.
Reach out to our experts at Mobolutions for progressive information on this.