Billing to Emerge as a Center of Gravity for the Revenue Lifecycle
WASHINGTON, May 9, 2022 – Ordway, the finance platform for innovative business models, will be hosting a webinar on the Future of Billing Technology featuring guest speaker Lily Varon, senior analyst of the independent research firm Forrester. The analyst will be sharing insights from a recently published research report that explores how empowered buying — both in B2C and B2B models — will put more pressure on every business to modernize their billing relationships and the technology that underpins them.
New business models like subscriptions, marketplaces, platforms, and as-a-Service strategies are driving significant changes in the way businesses buy and sell their products. To respond, firms need the ability to rapidly and repeatedly reinvent their business model by launching new offerings, changing monetization strategies, and adding new distribution channels. Historically, rigid billing systems have been obstacles rather than enablers of this type of rapid innovation, but a new wave of modern technology is driving a paradigm shift.
Legacy billing systems that were back-office, batch-oriented, and finance-centric are being replaced with modern applications that are middle-office, real-time, and customer-centric. In the coming years, billing will emerge as a center of gravity for the revenue lifecycle, acting as a middleman for key information flows between the CRM and ERP and sourcing rich customer insights to the product and marketing teams.
- Monetization Strategy – By empowering product teams to respond to disruptive new business models and competitive threats by launching new offerings and pricing strategies.
- Sales Competitiveness – By enabling sales with the flexibility to customize packages, contracts, and payment terms to meet the customer’s specific preferences and win more deals.
- Customer Experience – By ensuring customers get accurate invoices and payment visibility to reduce unnecessary friction in the relationships and enable focus on mutual success.
Who: Lily Aaron, senior analyst of independent research firm Forrester
What: The Future of Billing Technology
When: May 10th, 2022 at 3pm ET (Noon PT)
Where: Online webinar