Innovation – How Is It Helping You?

As a modern society, we’re no stranger to innovation and the efficiencies and conveniences that come with it. Today the buzz is around topics such as:

• Artificial Intelligence (AI). While not so new anymore, it continues to affect our everyday lives. From Siri guiding us with helpful answers for our burning questions to hailing an Uber with your smartphone, AI is here to stay.
• Internet of Things (IoT). With so many things built with Wi-Fi connectivity, the benefits are endless. We can get an alert that the garage door was left open and be able to shut it with the push of a button. Businesses are instantly notified when they need to fill a vending machine. There’s no telling where this trend will take us.
• Robotic Process Automation (RPA). This technology is all about automating repetitive tasks or business processes. Some of the key areas in the finance world are related to accounts receivable –?sales quote generation,?invoice distribution, customer credit monitoring and follow-ups. These are some of the easier tasks to automate and leave finance managers with more time to focus on higher-value work.

If you haven’t already, your business is likely to incorporate one or all of these innovations. They’ll help improve processes, bring new and improved products and services to market, increase efficiency and most importantly, improve profitability.

Innovation at our core

With innovation at our core, BillingPlatform offers a?platform that helps companies keep up?with the accelerating pace of changes introduced by technology and innovation. This mindset allows us to deliver transformational solutions that reduce costs, increase productivity and efficiency, and most importantly, drive revenue growth. Our drive to deliver solutions to support the ever-changing business requirements?motivates us to constantly innovate new capabilities?so that our customers can win in their respective markets.

The first cloud-based monetization software solution to offer a truly configurable platform combined with an?extensible data model, BillingPlatform allows customers to build out and deliver innovative solutions not only for billing and invoicing but also for?collections,?revenue recognition, and?usage mediation. This innovation in architecture accelerates product launches, reduces costs and resource requirements, and delivers measurable?improvements in customer experience.

Dedicated to the pursuit of new ideas

Always on the lookout for the next innovation, the?BillingPlatform Innovation Lab?has engaged with multiple resource channels to bring together a diverse group of smart, engaged “finance enthusiasts” to focus on problems and solutions that are critical to their success. Recent solutions to come out of the Lab include the ability to?simulate pricing strategies?to understand the revenue impact of new pricing models and the ability to?preview future subscription charges.

We don’t have a crystal ball to solve these problems, just a group of dedicated innovators with a desire to help solve the problems our customers face every day.?Learn more?about the Innovation Lab and how you can tap into the community, join the discussion, and embrace innovation!

Author:?Nathan Shinn, CSO, BillingPlatform