Build or Buy: 3 Key Benefits of a Cloud Billing System

August 28, 2020
Posted on: August 28th, 2020 by bpadmin
Multiple Charging Models

The ability to bill for services is the single most important thing keeping a business running. So when organizations consider implementing a new cloud billing system, many go through a build vs. buy debate. Are there cost savings of creating and supporting your own billing software that outweigh the risks? Are you willing to conform to a new business model in order to suit a commercial billing solution?

A Configurable Cloud Billing System Is Key

BillingPlatform makes the build vs. buy decision easy, offering you the best of both options. Our configurable platform is designed for flexibility and rapid change, and is agile enough to support any business model. Plus, it’s supported by experienced billing professionals every step of the way.

You’ll see the benefits of the cloud-based solution from BillingPlatform with:

● Built-in customization tools that fit your enterprise
● Agility to support your business needs
● Support for future business changes

Build vs. Buy Requires Deep Resources

There are several drawbacks of homegrown and commercial billing solutions that need to be considered. If you decide to build your own billing system, your reasoning may be that you can design exactly what you need, specifically developed for your enterprise. This makes sense if you’re a technology company with access to dedicated and talented development resources who have billing expertise. But chances are it may take a lot of time to develop.

There are also design risks. You may overlook important considerations that experienced billing system vendors have included through years of experience, such as validation, transaction consistency, rollback, re-rate and more.

If you choose to buy, you can save on development time, and benefit from all the years of experience and improvements that went into the commercial billing solution. It may make perfect sense for you to adopt the methodology presented by an off-the-shelf solution. But you may also risk compromise. Each solution is built to solve a specific billing problem, which might not include your unique business model. Many off-the-shelf systems are rigid and inflexible in their billing and rating functionality. If our business doesn’t conform you may be out of luck.

 

 

BillingPlatform’s Cloud Billing System Is The Best Of Both

Expert knowledge and support, robust features and built-in customization are just three key benefits of BillingPlatform’s cloud billing system. Our system is designed by industry professionals who are experts in high-volume billing and rating. The system comes out-of-the-box with all the financial features needed to run a diverse subscription and recurring revenue operation. With built-in customization tools, you can rapidly accommodate the most challenging and specific billing and rating scenarios in the world.

When you buy BillingPlatform, you get a robust solution that can also be built or extended to suit any business process or future need. You can be confident that our configurable approach to high-volume billing offers the best of a custom build and the best of buying out-of-the-box. Discover more about modern billing practices and BillingPlatform by downloading this whitepaper and see how our agile approach improves your business.

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BillingPlatform’s agile billing software solution gives innovative enterprises the freedom to effectively monetize and deliver products and services resulting in growth and competitive differentiation. Our industry-leading, cloud-based platform adapts to every unique business model and pricing structure. With global customers across multiple industries including communications, transportation, manufacturing, banking, technology, energy, media, and software, BillingPlatform processes billions of transactions and dollars every year, enabling enterprises to grow revenue, reduce costs, and improve overall customer experience.
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