Artificial Intelligence: Revolutionary Technology to Tackle Complex Business Challenges

In the fast-evolving landscape of technology, Artificial Intelligence (AI), Generative AI (GenAI) and predictive analytics have emerged as transformative forces reshaping industries and redefining the way businesses operate. AI models learn from data patterns to make predictions, classifications, or generate outputs.

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-70%


in modernization costs by 2027

Gartner predicts that by 2027, Gen AI tools will be used to explain legacy business applications and create appropriate replacements, reducing modernization costs by 70%.

Gartner’s Top Strategic Predictions for 2024 and Beyond — Living With the Year Everything Changed, November 23, 2023

60%

of workers use AI to perform tasks

Forrester predicts that in 2024, sixty percent of workers will use their own AI to perform their tasks.

Predictions 2024: Artificial Intelligence, October 24, 2023

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Core Capabilities

Unleashing the Power of AI with BillingPlatform

User Empowerment

Simply describe the desired feature enhancements in plain language, and AI will automatically generate new application features, business productivity tools and extensions

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Business Productivity Optimization

Improve productivity by generating reports, help content and guidance and link to a location in the app using Natural Language.

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Security & Compliance Enhancement

Data privacy and security regulations must be considered when handling billing data

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Customer Stories

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“We selected BillingPlatform because it is an enterprise-grade solution that can seamlessly and efficiently support our diverse billing requirements. BillingPlatform’s functionality, including its ability to defer revenue with automated revenue recognition and scalability, supports operational efficiencies so we can focus on delivering new solutions across our customer base.”

Brian Herb, CCC Intelligent Solutions

Chief Financial Officer

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“As we expanded, we needed a billing solution that could not only handle our growing volumes and complexity but also integrated to critical third-party solutions to round out the entire billing and revenue management process, and BillingPlatform emerged as the best solution for our needs.”

Sarah Spoja, Tipalti

CFO

“As part of a broader initiative to digitally transform our operations, BillingPlatform stood out in the market, not only for its innovative technology, but also its consultative approach to understand the intricacies of our business and how best to support it.”

Murray Walton, IDP

CFO

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gocardless logo 2022

“We look forward to partnering with BillingPlatform to extend our reach to even more businesses and provide best-in-class billing and payment technology to our joint customers.”

Andrew Gilboy, GoCardless

General Manager, North America

Empowering Users with Self-Service Feature Enhancements

The addition of AI with BillingPlatform revolutionizes the way users interact with the platform. Through a natural language interface, users can communicate their feature enhancement requests to the AI by typing or speaking a request into a chat window to generate new application features, business productivity tools and extensions.

This self-service approach empowers users to take ownership of their BillingPlatform experience, and customizes the platform to their unique workflows and preferences. Reducing the burden on IT teams, who no longer need to handle every feature request manually, frees up their time to focus on more strategic initiatives.

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Optimizing Business Productivity through AI-Driven Insights

AI, coupled with BillingPlatform’s metadata architecture, transforms BillingPlatform into a powerful tool for innovation and optimization. With this capability you can improve productivity by generating reports, help content and guidance and link to a location in the application using Natural Language. This ability to generate actionable insights can help businesses optimize their billing processes and uncover new revenue streams.

AI analyzes user behavior patterns and business data to:

  • Suggest new features or workflows that would streamline specific tasks
  • Enhance productivity and improve the overall user experience
  • Identify trends, anomalies and potential risks
  • Provide insights that can help businesses make informed decisions
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Enhancing Security and Compliance with AI-Powered Monitoring

It’s important to consider data privacy and security regulations when working with billing data, especially if it contains sensitive information. The integration of AI, GenAI and predictive analytics with BillingPlatform’s metadata architecture significantly enhances security and compliance within the platform.

AI continuously monitors application configurations, user interactions and data integrity to ensure:

  • Privacy compliance: ensuring adherence to data privacy regulations such as GDPR and CCPA
  • Automated payment verification: verifying payment information and detect discrepancies
  • Invoice verification: identifying errors and inconsistencies in invoices to prevent payment delays
  • Anomaly Detection: identifying unusual patterns in remote system access, data usage or network traffic that may indicate a potential breach
  • Compliance Monitoring: ensuring adherence to industry regulations and standards (e.g., PCI DSS, GDPR)
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Value of Billing Data

Without data, AI capabilities by themselves are insufficient. Machine learning and predictive analytics require timely, accurate and relevant data. Comprehensive data from a billing system often contains valuable information related to customer interactions and business processes.

Additionally, billing data offers a great source for analyzing trends like product usage data, sales and revenue data, customer behavior data and others to make predictions that influence business decisions.

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Fraud Detection

Analyze billing data to identify patterns indicative of fraudulent activities. Machine learning algorithms can be trained on historical billing data to detect anomalies or suspicious transactions.

Financial Forecasting

Harness billing data to predict future financial trends, assist businesses in making informed decisions and plan for the future.

Customer Behavior Analysis

Analyzing billing data can provide insights into customer behavior, preferences and purchasing patterns. This information can be leveraged to enhance personalized marketing strategies as well as churn predictions.

Billing Process Optimization

AI can analyze mediation and invoicing statistics to identify inefficiencies in the billing process. This may involve automating certain billing tasks, streamlining invoicing procedures and reducing errors in billing systems.

Cost Optimization

For businesses, billing data can be used to optimize costs and identify areas where expenses can be reduced or efficiency improved.

BillingPlatform in Action

Our AI recognizes a pattern of excessive clicks through the same areas of the app. The AI understands the data model through the system’s metadata and directly suggests actions to the end-user for automation. If approved, it can generate the necessary metadata to implement these changes for the users in real time.

The key is that data is what gives AI intelligence and with BillingPlatform’s metadata model, AI can form specific intelligence around our configuration with a goal of significantly enhancing and extending the application continuously and automatically.

Workflow Automation

Generate automated workflow based on the detection of a consistent pattern of redundant actions

Shortcuts Creation

Consolidate sequenced user actions into a dashboard of clickable shortcuts for immediate execution

Natural Language Query

Understand and respond to written or spoken customer inquiries to enable sophisticated applications such as chatbots, virtual assistants and language translation

Help and Training Content Suggestion

Access help and support by asking your AI-Assistant anything you need to know about how to use the app, where to find critical features of the app and data to support your spoken or written scenarios. For example: “Show all invoices that are greater than thirty days past due”; “Where do I go to manage invoices?”; “How is this feature used?”

Anomaly Detection

Identify risks based on unusual patterns in billing data and errors in mediation, rating and invoicing before they impact revenue

Pricing and Packaging Optimization

Pricing and packaging optimization based on cross-customer product configurations and associated billing data

Collections Automation

Automate collection strategies by using Generated Collections Scripts and an AI call center agent to execute scripts and communicate to and also interact with delinquent customers for resolution

Performance Degradation Detection

High Volume mediation performance degradation detection and remediation strategies

A Billing Solution Designed for Any Role

BillingPlatform is tailored to meet the diverse needs of professionals across various roles within an organization. Whether you’re in leadership, finance, IT, sales, or billing operations, our platform provides the tools and insights necessary to optimize your workflows, enhance productivity, and drive business success.

Business Leader

BillingPlatform empowers business leaders with real-time analytics, customizable reports and AI-driven insights. Access key performance indicators (KPIs) and comprehensive dashboards to make informed decisions, identify growth opportunities and streamline operations. Our AI capabilities help predict market trends and uncover new revenue streams, supporting strategic planning and helping you stay ahead in a competitive market.

Business Leader

Finance Leader

For finance professionals, BillingPlatform offers robust financial controls, detailed reporting capabilities, and AI-enhanced financial forecasting. Manage revenue recognition, streamline invoicing processes, and ensure compliance with accounting standards. Our platform's AI-driven insights enable precise financial predictions and budgeting, helping you maintain financial health and transparency while identifying cost optimization opportunities.

Finance Leader

IT Leader

IT leaders benefit from BillingPlatform's flexible architecture, extensive integration capabilities and AI-enhanced self-service features. Easily connect with existing systems, customize workflows and automate billing processes. Our platform reduces IT overhead by enabling AI-driven configurations and ensuring scalability to support your growing business needs. AI-powered monitoring also enhances security and compliance, safeguarding your data and systems.

IT Leader

Product/GTM Leader

Sales teams can leverage BillingPlatform to simplify quote-to-cash processes, manage subscription billing and provide accurate pricing and packaging options. With real-time visibility into customer accounts and billing history, along with AI-driven customer behavior analysis, sales professionals can tailor proposals and improve customer satisfaction. AI insights help identify cross-selling and upselling opportunities, leading to increased sales efficiency and revenue growth.

Product/GTM Leader

Billing Operations Manager

For those in billing operations, BillingPlatform offers advanced tools for managing complex billing cycles, automating recurring invoices, and handling adjustments. Our platform ensures accuracy and consistency in billing, reduces manual error, and provides detailed audit trails for improved operational efficiency. AI capabilities further enhance billing operations by detecting anomalies, suggesting process optimizations and automating routine tasks to improve overall efficiency and accuracy.

Billing Operations Manager

Technical Accounting Leader

If you are responsible for the accounting operations at your organization, you know accurate and compliant revenue accounting with support for ASC 606 and IFRS 15 are critical. With BillingPlatform, you can streamline your accounting processes with the power of AI in BillingPlatform. Instantly retrieve, organize and present critical accounting data using natural language search, simplifying the work needed to generate reports to get the real-time insights into your accounting operations, ensuring accuracy, compliance and efficiency across all financial operations.

Technical Accounting Leader

Digital Transformation Leader

As a digital transformation leader, you need cutting-edge technology to transform your operation. With BillingPlatform’s meta-data-driven, configurable and secure revenue management solution, you can enhance efficiency, drive innovation and stay ahead of the competition. And with the addition of the AI configuration coach, the platform helps by understanding your needs and suggesting tailored configurations, adapting the solution to maximize efficiency to meet the evolving operational requirements while saving time and effort.

Digital Transformation Leader