Invoicing and managing bills are a pain for SMEs and startups as it consumes the precious time which could otherwise be invested in fostering the business growth. Billing has a direct knock on SMEs, as it is all about accuracy, and accuracy leads to cash flow. Cloud-based billing systems are the new kid on the block and offer the much needed agility to the small and medium businesses. Cloud billing is basically a utility software that offers cloud-optimised billing solutions to help you focus on your business by eliminating the overhead associated with IT, hardware and solution maintenance.
Lower licensing costs, little or no capital investment and lower services costs are some of the advantages that cloud billing offers to both startups and established companies.
Nowadays, many cloud billing providers have entered the market and offer potential combination of genuine SaaS billing application and billing expertise with excellent customer service and industry-specific knowledge. With the adoption of Cloud-based billing systems, SMEs can build a wide customer interface by establishing a higher range of satisfied customers. Some of the benefits of Cloud-based billing systems include:
The cloud-based billing systems are customised to query the inaccurately billed bills. The system is programmed to expect an agreed amount for services and if the services are unclear or incorrectly billed, then it checks for the billing queries.
By adopting cloud billing, SMEs can have detailed information of process in a logical order, which further simplifies the work management and makes the billing system more beneficial for the business and for the customers serviced.
Through cloud-based billing system, there will be a cost clarity regarding the services and products purchased. This offers the customers the benefit of referencing each line-item with their contract and calculating the monthly cost.
Cloud billing can play a key role in slashing the time taken and the cost incurred in setting up new services and giving SMEs and start-ups the opportunity to quickly turn innovative ideas into lucrative solutions. The cloud billing offers SME owners the ability to work while being mobile.
By adopting cloud-based billing system, SMEs also get to know the latest technology updates and can innovate new pricing and billing capabilities. This technology is highly cost-effective as businesses don’t need to buy any hardware and they don’t pay separately for the hardware capacity they use, as it all comes as a part of the service.
With so many benefits for the SME owners, cloud-based billing systems are growing in popularity rapidly. So, for SMEs and start-ups planning to settle their grounds in market, billing should no longer be a barrier to accessing huge commercial opportunity. Many small and big players in the market are offering cloud-based billing support to SMEs in India. SMEs can leverage the services offered by these companies to boost the performance, security and availability of their business. Some of the main companies include EBS, Bill Grid and BluSynergy. With broad cloud computing portfolios and vast expertise, these companies can make the cloud-based billing system as a facilitator for the SMEs.