Enterprise Billing Management Best Practices 2016

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Enterprise Billing Management - Best Practices
2016
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Contents

1. Introduction
2. Integrating CRM and Invoicing
3. Managing ERP with Invoicing
4. Automating the Invoicing Process

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Introduction

• Building a relationship with customers is the key
  focus of most large enterprises. The overall
  inclination to pay up on time is related to the
  value being delivered to the customer.
• The idea here is to look at the entire B2B
  communication cycle holistically and optimize the
  revenue and payments for the business.

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Integrating CRM and Invoicing

• The process of building a relationship with
  customers involves changes in the pricing or the
  subscription plan, new offers, upselling and
  cross selling of services and other such
  activities.
• The process of providing the requisite services
  and receiving the payment for the same, has to be
  integrated.
• Automation of systems on the other hand, helps in
  scaling the business operations to the desired
  level.
• A self serving portal is very helpful in the of
  automating the sales and billing process of of a
  business.
• This helps clients to login to their account and
  access the required information about the status
  of their orders and invoices.
• Integrating the sales, billing and customer
  support helps in improving process efficiency and
  helps in building deeper relationships with
  clients.

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Managing ERP With Invoicing

• Enterprises are looking up to newer cloud based
  apps for improving the overall productivity of
  the organization. The newest requirements of
  large businesses find the earlier solutions to be
  redundant and are looking for integrated
  solutions. Traditional ERP systems are struggling
  with the numbers of services being provided, the
  time to market and the visibility of
  transactions.
• Here are some common issues with traditional ERP
  systems
• The systems are extremely inflexible according to
  the needs and requirements of the business
• A change in systems involves a large amount of
  investment in processes
• There is a need for a single process for B2B
  communication cycle
• There is a huge maintenance cost of enterprise
  resource planning applications
• The upgradations of existing systems is a huge
  concern
• Processes are built according to software while
  it should be the other way round
• The systems are not global and do not cater to
  regional requirements

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Automating The Invoicing Process

• Manual invoice processes are fast giving way to
  automated ones.
• Automated solutions reduce the resources required
  in manual invoicing processes.
• Manual invoice verification and approval
  processes are full of complexities and the
  chances of invoice disputes and exceptions are
  very high in such processes.
• In manual processes, the time consumed in manual
  sending of invoices is much higher and leads to a
  slower quote-to -cash cycle. This delays the
  process of payments, hampering the cash flows in
  the long run.
• Financial management is a very important aspect
  of enterprise billing management. Generating
  automated reports of outstanding invoice,
  estimates, purchase orders and invoice ageing
  help in managing the finances effectively and
  efficiently. Running multiple reports help in
  complex revenue and sales forecasting with the
  help of simplified processes.

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Choose The Right Tool

• Choosing an enterprise billing management
  solution like Invoicera helps in simplified
  management of customized business invoicing
  requirements. Here are some of the key features
  of Invoicera, meant for large enterprises.
• Integration with ERP, CRM and E-commerce
  platforms
• Custom workflow management
• Bespoke Invoicing solutions
• Advanced reporting systems
• Multilingual invoicing solutions
• Multiple payment gateways
• Complete B2B communication cycle
• Self serving client portals

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