Why SAP BRIM is inevitable in the time of pandemic?
With the COVID-19 pandemic, our lifestyles and choices are gradually moving toward digital platforms. Consumers seek the effective option of opting for flexible and efficiently packaged products. Customers want to have the ability to define how much they consume. This creates a transition to the subscription business model in all the major industries.
This change is boosting the versatility of specifications with the tremendous influence of COVID-19 on multinational companies and the world’s economy. Subscriptions are a simple way of streamlining activity and maintaining the order-to-cash process.
Many companies add subscriptions to their offering to focus on and continue this growth pattern. However, there are few issues we need to consider while creating a subscription-based model.
- Purchase: How can you get consumers to sign up for a permanent subscription?
- Consumer Service: How do you build a delectable customer experience that keeps consumers alive?
- Growth: How are you going to grow into new markets and areas?
- Pricing: How can you improve the pricing and packaging of your subscription?
To optimize your business’ benefits and development, you need an efficient, flexible, customizable, convergent, scalable, and effective billing system in the process of subscription billing. The selection of a billing service with these essential features not only guarantees that your company will take the most advantage of this investment, but also provides your clients with innovative new goods and services with improved consumer support.
You will excel on agile and innovative features such as revenue management and recurring billing by monetizing the subscription and usage-based business models by selecting SAP billing and revenue innovation strategies for your organization.
This also improves the transparency of the whole business management process with the support of its integrated modular, flexible, versatile, and highly efficient platform that assists in billing, invoicing, and revenue control.
Effective solutions of SAP BRIM
Mobolutions’ SAP Billing and Revenue Innovation Management Implementation will allow businesses to manage their subscription accounts effectively.
- Customers can make use of a range of resources without minimum purchase or dedication.
- SAP BRIM improves the revenue model based upon subscription by successful implementation, with limited expenditure, of pay-per-use and self-renewal solutions.
Billing Errors Removal
- Avoid incorrect data use and thus postponed the creation of the invoice
- Accurate resolution and accountability reports
Precise payment and billing
- The unified SAP BRIM system facilitates monitoring of any changes to the subscription of the consumer across all periods of use
Increased flexibility and revenue recognition
- The ‘pay-as-you-go model’ enables customers with small budgets to choose a monthly payment model by using Mobolutions’ SAP BRIM solution.