Excerpt from Video
”As our businesses face the onslaught of disruption and the reinvention that is on our doorsteps, billing tools will rise in strategic importance to the business. Firms that treat billing and payments technology as strategic will be more adaptive, more creative, and more resilient in the face of oncoming turbulence."
Lily VaronSenior Analyst
The Four Benefits of Modernizing Billing Technology
In this brief video Lily Varon, Senior Analyst with the independent research firm Forrester discusses how billing technology needs to offer extreme levels of flexibility to configure evolving monetization strategies and accurately manage dynamic revenue supply chains.
- Competitive Differentiation – The more creative firms can get with monetization strategies the more billing technology becomes a driver of strategic value. When companies are doing billing in their own way, they start to compete on billing models.
- Go-to-Market Motions – Billing systems that cannot accurately process their company’s evolving monetization strategy will force finance to figure out workarounds and may result in new products being launched on time.
- Customer Experience – The billing and payments experience is one of the most emotionally potent moments of the customer journey. When billing goes wrong its the end of the world. Both brand reputation and customer trust are at risk.
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Frequently Asked Questions
Why is modern billing technology critical for today’s businesses?
Modern billing technology enables flexibility in monetization, speeds product launches, and helps businesses adapt quickly to market changes.
How can billing systems create a competitive advantage?
Billing is now a strategic differentiator: companies that innovate with new pricing and models outpace competitors relying on legacy billing software.
What impact does billing technology have on customer experience?
Accurate, transparent, and flexible billing builds brand trust and loyalty, while billing errors or friction can damage customer relationships.
Can advanced billing technology help finance teams launch new products faster?
Yes, agile billing solutions allow teams to support new products and pricing without delays or complex manual workarounds.
How does automating billing and payments help business resilience?
Billing automation reduces operational risk, ensures compliance, and allows organizations to scale quickly in response to disruptive markets.
