Accounting Times: October 26, 2023
Having better billing systems in place makes it easier to embrace new business models, cut costs and improve customer experience.
Is profitable growth a realistic objective for your enterprise in the upcoming calendar year? If you answered in the affirmative, you may well be in the minority. Given current economic conditions, many Australian businesses aren’t overly hopeful of achieving it during the next 12 months.
Earlier this year, Deloitte Access Economics warned of deepening challenges: in its July 2023 Business Outlook report, the firm flagged the fact that ‘elevated yet moderating inflation and increasing interest rates have combined to slow household spending and economic growth’.
Understanding the benefits better billing can deliver to your business
Although, historically, it’s been perceived as very much ‘back room’ technology, having the right revenue management software in your tech stack can make it easier to achieve these ends and increase operational efficiency to boot.
Smartly implemented, modernizing revenue management can become a strategic digital asset, one that delivers full quote-to-cash support for whatever monetisation model, or models, you choose to adopt.