To JK Chelladurai, Founder & CEO of OneBill Software, billing is much more than an administrative function. In this podcast, we learn that billing can be a creative operation that can drive sales, grow revenue, improve customer-care and lower customer churn.
JK says that billing should be thought of as a revenue management platform and that this platform should be doing several things that are well beyond mailing a lonely monthly statement.
JK points out that a good revenue management platform provides welcome communication with the customer, improves customer loyalty by leveraging the billing point of contact as a regular way to create value for the customer and a place for the customer to remain up to date on products and services.
We also learn that an old-fashioned paper invoice can be surprisingly expensive. Costs rise when we consider how much time a company’s contact center is spending on inbound calls regarding billing. Not only does a better billing platform identify new opportunities, but the platform also helps make proposals match promised and delivered services. The customer sees that what he was expecting is being delivered and that what was proposed as cost is exactly what’s being invoiced. That type of tight integration creates customer loyalty, brand integrity, lowers expensive customer complaints and opens the door to doing more.
JK gives an overview of the OneBill approach, with includes real time reporting of trends and emerging issues. Good billing means growth and simply better management.