If your organization has decided to make the switch to intelligent billing, congratulations! You’re on your way to laying the foundation for increased revenue, enhanced customer relationships, and a leg up in the competitive market. But making the decision is just the beginning. Successfully launching an intelligent billing solution requires significant time, planning, and effort — but we promise, it’s worth the investment.

In our guide, Best Practices for Gotransverse Intelligent Billing Implementation, we share tips and techniques for successfully launching an intelligent billing platform. We highlight the common success factors and potential pitfalls we’ve identified in our experience working with companies with different pricing models for various markets. For the full range of insights, we encourage you to download the guide. But for now, here’s a preview of what you’ll learn.

Two Basic Approaches to Intelligent Billing Implementation

When it comes to developing an agile monetization strategy, the first choice businesses need to make is whether to build your own implementation team or work with a software vendor and team (like Gotransverse) that delivers this technology to dozens of clients every single day.

Large businesses, which tend to maintain their own IT pros and in-house developers, often handle most of the implementation and maintenance themselves, with support from Gotransverse as needed. Mid-sized enterprises, on the other hand, tend to lean more heavily on outside resources such as independent integrators or consulting firms. Once again, for our mid-sized clients, Gotransverse experts are on hand to help.

We discuss these approaches — and the other factors affecting implementation — in more detail in our implementation guide.

Common Barriers to Billing Success (and Their Solutions)

When an intelligent billing implementation doesn’t go smoothly, we’ve found there are usually three drivers — and none of them are related to the technology, itself.

The first is frequently changing requirements and specifications. Intelligent billing platforms are designed to be agile to accommodate new pricing and billing needs. However, with an overhaul like this, new processes and roles are needed. To avoid scope and specification change, we recommend our clients develop a clear understanding of billing objectives, enterprise infrastructure, and supporting processes and technologies well before beginning the implementation process.

The second is a lack of clear decision-making process. Intelligent billing implementation requires a time and energy commitment from key stakeholders, and if it’s unclear who’s in charge on the business side, it can be difficult to make the strategic choices required to configure and deploy the software efficiently. We recommend our clients establish a clear chain of command to ensure the process goes smoothly and the software is configured to support your business right away.

The third major pitfall is an incomplete or vague business model. When companies aren’t sure how they want to use intelligent billing from the start, they wind up letting the platform drive the business plan, rather than the other way around. Whether your company is looking to evolve an existing billing model or entering the market with a brand new business, we highly recommend starting with a clear understanding of the business objectives you want the platform to support.

And speaking of business objectives…

Key Goals for Agile Monetization

The Gotransverse intelligent billing platform is highly adaptable, so if our clients are looking to make the best use of its wide-ranging features and capabilities, we recommend they start by understanding exactly what they’re hoping to achieve through intelligent billing. Here are seven agile monetization goals we hear frequently, to get you started:

  1. Developing new recurring revenue streams
  2. Support for a changing business model
  3. Introducing a new product or opening new markets
  4. Overcoming existing accounting inefficiencies
  5. Shortening time to cash
  6. Improving invoicing accuracy
  7. Gaining real-time visibility into revenue and customer retention

Gather input from all the key stakeholders, from finance and IT to product development, customer support, and operations, in order to prioritize your goals for the new billing platform. Then, you’ll be able to more effectively define the features, integrations, analytics, and other capabilities you’ll want to prioritize as you implement your new platform.

Not sure where to start? Our implementation guide provides five questions to ask to align business objectives with intelligent billing system design.

The Gotransverse Implementation Process

Once our clients have nailed down their business objectives, we work with them to follow a three-step process for successful implementation: discover and design, configure and build, and test and launch. To learn more about this process — and about how the Gotransverse platform helps businesses generate more revenue and power new business strategies, we invite you to download our implementation guide today. Then, when you’re ready, request a demo to learn whether Gotransverse is the right billing platform for your organization.