SAP BRIM in sharing economy: How does it accelerate the time-based rental system?
Sharing economy model has evolved over the past years and has taken a form of a platform for communities to carry out online rentals, commerce, and economic transactions. It also incorporates all kinds of commercial activities including B2B commerce where businesses come in together to share their amenities.
Now that businesses are not just about selling a product or service but building a strong customer relationship, this collaborative consumption could benefit all customers and businesses at large. Sharing economy allocates different kinds of services and revenue sharing facilities including co-working platforms where organizations encourage freelancers and entrepreneurs by providing shared open workspaces, Peer-to-peer lending platforms where companies help other individuals by lending money at cheaper interest rates, rental and selling platforms for accessories and commodities, and platform for transport facilities to organize and plan journeys.
Although the idea of sharing economy seems organized and easy to execute, it also has its challenges. The major challenge is when there is a mass volume of data to be managed and worked with especially in larger communities where the online presence of consumers is progressive. The other challenge is in the management of high-volume finances.
SAP BRIM streamlines the sharing economy through its flexible and scalable solutions. SAP BRIM improves the the effectiveness of online collaboration increases at a steady rate a wider range for involving new business opportunities.
Traction of mass data
With the involvement of data mediation, many data from multiple sources can be tracked and sorted out corresponding to the kind of contract, whether customer-based or partner-based. For business partners, it becomes easy to maintain and understand each other’s values, perspectives, and what they seek from each other. A higher level of customer satisfaction can be attained by providing a wide range of services including time-based rentals, usage-based rentals, purchases, and so on. These kinds of contracts can be recognized accordingly and then passed on for charging and billing.
Management of high-volume revenue streams
SAP BRIM’S revenue model involves carrying out a billing process for a large volume of data items that are billable. This revenue could be receivables or payables according to the kind of contract. For customers, usage information provided along with the aggregated bill that passed on from charging and invoicing allocates the transactions for collection. Revenue shares to the partners are settled through the account payables.
Leveraging SAP BRIM solutions could help in unlocking newer opportunities and strategies for business. For sharing economy, SAP BRIM not only has the advantage of data mediation and financial management but the idea of bringing in all kinds of services into one platform to deliver just the ideal service without any barriers. Order management, Convergent Charging, Rating, Billing, and Convergent Invoicing are all other major components of SAP BRIM that aids in optimizing the collaborative economy.
If your community is seeking an ideal solution to bring in all business transactions onto a reliable and scalable platform, SAP BRIM is the ultimate solution. At Mobolutions, we help organizations and communities with the deployment of BRIM and customize it according to their requirements.
Reach out to our experts at Mobolutions for more information.