Monetizing The Cloud: 10 Benefits Of Agreement Based Billing

Grazed from CloudTweaks. Author: Saleem Abdul.

Modern businesses are now beginning to understand the importance of the cloud in terms of delivering services and even products. The cloud makes everything easier and more efficient so more and more businesses are reaping the benefits of cloud computing. But just in case you do not know how this is done yet, here is your answer. Agreements-based billing (ABB) allows you and your business to monetize your cloud applications in order to appeal to customers in new and revolutionary ways and allow you to track and capture their activities on the cloud.

So here are 10 ways that you can use ABB to monetize the cloud:…

1. Customization of Promotions and Deals. ABB allows you to customize and adjust billing rates, discounts, multi-tier pricing and much more. This can be done and deployed easily within existing processes increasing growth opportunities.

2. Flexible Business Models. With a rapidly changing market place, you can quickly adapt and adjust your business to market demands, minimizing down time and the required cost to market.

3. Low-cost Billing. ABB allows support for any business model whether it is a subscription or consumption service, allowing delivery of software at lower cost.

4. Accuracy of Payment. ABB has options support for internal management functions with automation repetitive processes, rapid modeling allocation of fees, and quick modification of accounts. This reduces error and increases customer satisfaction.

5. Transparency. ABB systems simplify the accounting of state agreements across related relationship models. This allows a business to be transparent with its customers and stake holders accurately and quickly.

6. Future Proof. As modern commerce is driven by agreements and contracts between different partners and suppliers, billing processes should also support this. ABB systems are going to be more in demand and even required and this will just increase the future market share of those businesses already using ABB.

7. Predictive Analysis of Revenue. ABB systems can analyze information between every transaction allowing for the creation of a trend model which the company can leverage to better understand marketing trends and estimate future revenue and decisions based on past and real-time trends.

8. Adaptability. ABB systems can easily adapt to the needs of modern commerce as mobile and online payments become more prevalent in the commercial sector. ABB has profitability analysis and can cater to dynamic pricing and cater to large transaction volumes.

9. Support for Large Volumes of Transactions. Traditional systems are unable to keep up with the rapid growth of micro transactions that result in large volumes of data while ABB can easily support this.

10. Easy Integration. ABB is considered an agile solution as it is designed for quick implementation. One installed, it easily integrates into the company’s existing business applications and streamline the end-to-end or order-to-cash processes and is even adaptable to changes in the business model.

Monetizing cloud computing is another way of better quantifying return of investment as most of cloud computing ROI is intangible and can only be quantified if it has already been achieved. As most businesses today are heading into the area of online payments and micro transactions from mobile devices, Agreement-Based Billing systems will become more important and common.