A cloud billing solution is a software used to help providers of cloud-based technology, services, infrastructure, or software invoice and bill their clients and other channel users. Cloud billing solutions can be hosted on-site if enterprise level, or in the cloud if they are delivered as a SaaS.
Cloud billing solutions should be able to manage multiple types of billing of with automation, including subscription billing, usage-based billing, recurring billing, pay-as-you-go, etc. In terms of features, buyers should look for the ability to easily manage thousands of existing and new SKUs and pricing changes.
The solution should also be able to calculate usage-based billing, so by gigabyte, by minute, by seat, etc. and be able to automate and calculate payouts to resellers and other channel partners.
Cloud billing solutions should reduce the total cost of ownership as they are often hosted off-site as a SaaS, improve the businesses security, reduce time to revenue and market, alongside adding scalability to operations.
The solution should also increase customer satisfaction and retention, by giving the business insights into usage and account activity, presenting opportunities to reduce churn and potentially, to improve ARPU.
