The success of any UCaaS business depends largely on an effective billing and subscription management solution.
With UCaaS growing at a rate of 33% each year and revenue that is touching close to $28 billion, the question is not about “a” solution – rather, it’s about “the” solution.
The Challenges of the UCaaS Industry
A UCaaS business combines products and services from multiple sources to provide a unified communications system to customers. The technology is constantly changing and improving to increase efficiency and functionality. It’s a highly competitive industry.
Because of the fast pace of the UCaaS marketplace and the complexity of the products and services it provides, the ability to get the competitive edge requires speed, flexibility, efficiency, and groundbreaking solutions.
The Importance of the Right Revenue Management System
How a UCaaS company handles recurring billing and subscription management will either make or break their business.
Common issues that negatively impact a UCaaS business include:
- Inability to accurately measure usage, leading to incorrect billing amounts
- Complexity of billing for multiple products and services resulting in miscalculations, discrepancies, and missed fees
- Manual data entry resulting in costly human error
- Difficulty keeping track in real-time of outstanding invoices and received payment
- Failure to comply with appropriate tax laws
- Inefficiency in handling quotes and generating sales
- Insufficient customer care systems
When a UCaaS business cannot overcome these challenges, success is difficult to achieve.
Features to Consider in a Revenue Management System
When choosing the revenue management system for your UCaaS business, look for a solution that can provide the following features:
- Product Catalog With Product Bundling
- Integrated Quoting
- Service Provisioning & VoIP Activation
- Simplified, Automated, Metered & Configurable Billing/Invoicing
- Subscription Management
- Automated Payment Collection
- Tax Compliance
- Seamless Integrations With Other Systems
- Branded Self-Service Customer Portal
- Reseller/Partner Portal
- Comprehensive Analytics
Benefits of OneBill Revenue Management
OneBill is tailor-made for UCaaS companies, enabling simple management of high-volume subscriptions. We make it possible for a UCaaS business to gain the competitive edge through speed, flexibility, efficiency, and advanced connectivity.
In addition to all of the above features, OneBill provides the following benefits:
- Rapid ROI (Return On Investment)
- Minimal IT involvement required
- Optimize customer charges while maximizing profit
- Leverage big data to create pricing models
- Accelerate payment collection and cash flow
- Real-time customization of products, pricing, subscriptions, offers, promotions, and discounts
- Effective up-selling and cross-selling capability
- And many more!
Bobby Hampton, VP of Operations for CWG Solutions says OneBill has “the perfect ‘can-do attitude’ that we really need in our billing partner”. At OneBill, we are continually working to provide not just another revenue management system, but the right revenue management system for the UCaaS industry.
Let us work with you to give you the competitive edge in this rapidly growing market. Contact us today.
Connect with us for DEMO of OneBill – an Award-winning subscription management solution!