Technology is providing a powerful enabler of new as-a-Service (aaS) consumption and delivery models. The Subscription economy has evolved and is disr...
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Customers benefit from cheaper and more convenient access to products and services, whilst businesses generate new revenue streams, deepen customer relationships and access new customer segments. However, offering subscription based products or services requires an agile billing solution in the background. Here are five top tips on choosing the right solution provider.
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This is dependent on your organisation’s budget and business requirements. Agile Billing solutions vary widely in terms of functionality, features and ways to do business; cost and licencing model; ease and depth of integration with other systems; data migration options; scalability; reporting capabilities; and provider expertise and involvement.
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Apart from your business requirements, ask the vendors about their project experience and successful installations; whether they have a defined implementation approach/methodology; the average implementation duration, and how many projects they’re involved in at this moment (there is a fine line between being in demand and overstretched!). Implementation approaches vary from “the customer does it all with some online help” all the way to complete professional services based contracts, depending on the complexity of the solution, integration requirements and customer capacity.
Perform Due diligence on the last 1-2 vendors before the preferred vendor is selected or a contract signed in order to verify and/or validate their RFP responses, to identify and mitigate risk and to avoid costly mistakes in partnering with the wrong provider1.
A phone call with at least two reference customers per vendor is highly recommended.
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It's crucial to understand the billing software subscription model and how it will evolve with your growing subscription business.
Typical models are:
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Currently there are still very few agile billing vendors with offices within Australia. The time zone difference means that face to face communication could be challenging. Understand the implementation approach (onshore to offshore ratio); your team’s experience; the requirement for the vendor team to be onshore, and associated costs.
Speak with the vendor about how they will address this challenge, including which collaboration tools they are using.
1Source: Gartner 2015 | Due Diligence Reduces Costly Mistakes in Outsourcing and Cloud Services
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