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Jun 08, 2023 Thought Leadership

The Future of Bill Payment and AI

According to research from McKinsey, AI adoption has more than doubled since 2017, with companies that invest heavily (and smartly) in AI finding themselves ahead of their competitors in crowded markets. AI, it seems, can have a powerful impact on any industry when applied strategically, and billing is no exception. In the dawn of what some are calling the “Payments 3.0 Era,” customer expectations for service, frictionless transactions, and personalization are higher than ever, and AI can help … Read More May 23, 2023 Thought Leadership

Capitalizing on a Positive Customer Billing Experience

With more consumers embracing self-service, the opportunities for personal customer interaction are dwindling. Online interactions must be self-explanatory and designed to deliver maximum customer satisfaction. Customers who are frustrated with a user interface or dissatisfied with an online transaction, including billing, stop being customers. Billing is the one regular interaction you have with customers, so ensuring the billing experience is positive is crucial. With the rise in subscription… Read More May 16, 2023 Thought Leadership

Gotransverse Helps You Collect Every Payment and Maintain a Positive Customer Experience

Is your collections process the best it can be? Every business has a problem with collections. Unpaid invoices are costly for many reasons. They require your finance team to spend time and resources trying to collect. Delinquent and unpaid invoices lead to revenue leakage that cuts into profits. When customers become frustrated due to payment challenges, they stop being customers. That’s why dunning is an ongoing concern for every business. As companies grow and adapt subscription and consumpti… Read More May 09, 2023 Thought Leadership

Fixing the Slow Drip of Revenue Leakage: "Is your billing system the best it can be?" Blog Series

Every business suffers from revenue leakage. You may suffer from creeping business expenses, cash flow delays, earnings delays, revenue barriers, and other issues that cost your business money. Improper billing is a common cause of revenue leakage. You may be under-billing, billing late, or making billing errors without a reliable billing system. Minimizing revenue leakage should be the goal of every business, but stopping the steady drip of lost revenue is more challenging than it sounds. Unde… Read More May 02, 2023 Thought Leadership

Understanding the Importance of Controlling Costs by Integrating Finance Processes

To kick off our new blog series, "Is your billing system the best it can be?", we address the importance of controlling costs by integrating a strategic finance process. Controlling costs isn’t just the finance department's responsibility in any organization. As technology improves and revenue operations become more sophisticated, every department contributes to controlling costs and adding revenue. Businesses must integrate financial contributors and automate processes to reduce errors, speed … Read More Apr 26, 2023 Thought Leadership

Understanding ASC 606 and What it Means for Recurring Revenue

Did you know ASC 606 has been in effect for five years now? In fact, the new accounting regulations for revenue recognition are part of US GAAP (Generally Accepted Accounting Principles) and went into effect in 2018 for public companies and 2019 for nonpublic organizations. The ASC 606 rules were created by the FASB (Financial Standards Accounting Board) to standardize revenue recognition for customer contracts, bringing US GAAP in line with the IFRS (International Financial Reporting Standards… Read More Apr 19, 2023 Thought Leadership

How a Robust SaaS Billing Solution Can Save You Money

Money fuels business, and you need consistent, predictable income to keep your business going and growing. Maintaining cash flow is essential. To ensure a consistent income, you need a reliable billing solution. With the right billing system, issuing invoices can be efficient, painless, and, most importantly, accurate. Too often, financial executives look at their billing solution as a necessary expense. Incorporating a strategic, agile billing solution when you consider how billing can save m… Read More Apr 11, 2023 Thought Leadership

Revenue Recognition: Don't Worry, Bill Happy Series

Once your customer has paid for and received the product or service they ordered, the transaction's over, right? Well, almost. There's one last piece of the quote-to-cash process: revenue recognition. This step enables businesses to claim the money they earn to reinvest it in talent, product development, marketing, and other initiatives that continue to grow the business. Let's look at what businesses need to know about this final, critical step. Revenue Recognition 101 Revenue recognition is t… Read More Mar 29, 2023 Thought Leadership

Quote-to-Cash Real-Time Billing Data: Don't Worry, Bill Happy Series

Agility and the capacity for lightning-speed innovation are critical in every industry as the continued digital transformation means companies—and their customers—are finding new opportunities and new competition in equal measure. Now more than ever, businesses need consistent access to relevant, accurate usage and billing data to help spot trends, highlight customer preferences, and guide the decisions that will keep them at the top of their markets. “Standard” reporting times are no longer fa… Read More Mar 07, 2023 Thought Leadership

Gotransverse End-to-End Billing Solution: Don’t Worry, Bill Happy Series

On its face, the billing process may seem quick and easy: send the customer an invoice, collect the payment, and voilà! Well, not so fast. The transaction itself is just one small part of the equation. In reality, billing comprises the entire quote-to-cash process, including everything from presales discussions with potential customers to revenue recognition.For companies looking to adopt complex billing models to meet growing customer demand for usage-based and subscription purchasing, the f… Read More