SAP Billing and Revenue Innovation Management for Finance – Simplify, Consolidate and Automate
Today, B2B models are rapidly being replaced by B2C models. It is possible to plan every step of the Order-to-Cash process, from charging the services utilized Convergent Charging through invoicing Convergent Invoicing and receivables management Customer Financials Management. Many transactions and data are processed by the system, which aids in real-time optimization of the billing process in real-time.
Digital transformation incorporates new methods by integrating more features and subscriptions into standard offerings. Existing customer experiences and new offers with innovations that bring the business closer to the consumer are driving business model transformations today.
Why CFOs are choosing Billing and Revenue Innovation Management Solution?
Digital technologies for finance operations are getting more extensive. CFOs are becoming more essential for sustainable growth goals. This billing system from SAP BRIM, helps customers to create flexible and efficient billing processes without sacrificing the current billing systems.
As a result, BRIM users can customize their offers and pricing information by considering into account customer behavior. For digital business models and process optimization, SAP BRIM offers a wide range of functions like subscription billing, order billing, customizable pricing, automated invoicing, convergent invoicing, and personalized payment processing.
According to the SAP report, there is a 95% reduction in time-to-market for new pricing and service offers, decreasing from 6-8 months to 1-2 weeks. Due to SAP BRIM’s high level of automation and integration, new customer-specific products
can be swiftly developed and released to the market, which provides huge competitive benefits for your company.
3 Initiatives that companies should implement to adjust their business strategy
- TRANSFORM – Customer Lifetime Value will increase when physical channels are converted to Omni-channels.
- OPTIMIZE – Accelerate time to market with subscription lifecycle management that is flexible and customizable.
- EXTEND – Create new income streams by wrapping new offerings around existing businesses and channels.
Financial Excellence with BRIM:
SAP BRIM is a centralized, comprehensive, end-to-end procedure that simplifies business model innovation.
Leveraging SAP Convergent Invoicing, you can automate the billing and invoice process. It centralizes pricing from various sources to generate bills and discounts that are easy to acknowledge and that promote customer retention, working capital, and engagement.
- Subscription pricing for one-time, recurring, and consumption payments is now accessible.
- Accelerate the time to market for innovative goods and services.
- Customer and business satisfaction will increase with accurate and transparent billing.
Contract Accounting and Invoicing in the SAP S/4HANA Cloud delivers a consolidated invoicing and revenue management platform in the cloud. The SAP Cloud for Contract Accounting and Invoicing solution enables subscription-based business models to be monetized from beginning to finish.
SAP Cloud for Contract Accounting and Invoicing enables customers to,
- The Cloud Billing Platform allows you to consolidate billing data from various platforms
- Use invoices to connect with customers
- Invoice and Receivables management can make use of user-friendly analytics applications.
Customer financial management
Provide accurate revenue management, great customer service, standard compliance, and automated efficiency.
- With sophisticated, highly automated receivables and payments management, revenue flow can be monitored.
- Ensure that your representatives have a complete picture of your financial customer’s information.
- Offer advanced credit and collection for customers with better-customized service.
Reach out to us to know more about SAP solutions including SAP BRIM, SAP Convergent Charging, SAP Convergent Invoicing, and Convergent Meditation.