Financial Services

Reflecting Customers' Variable Usage

Equipment Finance companies provide financing large variety of equipment for use by an organization. Equipment can include computing hardware, networking equipment, medical equipment, heating, ventilation, cooling, lighting, control modules, and other various types of infrastructure assets.

Challenge

Quantities of equipment assets will fluctuate over the life of a deal. Customers will need to use the quantity of assets versus the baseline quantity set at the commencement of the deal. The quantity of assets used by customers will fluctuate based on the customers' business needs. Accommodating this fluctuation in assets is historically managed as a manual and tedious process. 

person using computer in IT room

Omniware Approach

Dynamics Billing offers unique features to capture, assess, and bill for asset quantity changes. Dynamics Billing can capture transactions via IoT messages from network-based devices, file transfers from an operational system, or simply via a formatted excel file. Dynamics Billing will then compare the transaction volume of each asset against the contractual commitments. Baseline quantities can be set as volumes or dollar commitments. Changes from the baseline are then billed as a flat minimum, as per unit charges above the baseline, or as tiered charges above the baseline or using almost any other charging mechanism. Invoices are then calculated and distributed showing baseline quantity, volume adjustments, and respective charges.

Benefits

  • Accurately capture usage of assets and automatically bill for quantities used

  • Customers of equipment finance companies can assess their consumption of assets in a convenient report 

  • Review customers' consumption behavior and engage customers during billing to offer new services or enroll in new programs

  • Offer customers’ management  information to allow them control over their consumption of your services

 

Processing Very Large Volumes of Customer Usage for Billing

Credit processing companies provide credit checks and reports on consumers to customers who offer large dollar assets for sale. Credit checks are often used for home mortgages, loans, automobile purchases, appliances, or a range of other home infrastructure assets such as heating, cooling, battery storage and solar panels.

Challenge

The large volume of transactions being fielded and responded on a daily basis need to be managed quickly and accurately. Credit processing customers require a process and system that just works -not one that requires a lot of manual intervention. Customers also demand aggregated reports and consumption information that can be validated quickly.

Omniware Approach

Dynamics Billing offers unique features to capture, assess, and bill for usage transactions.  Dynamics Billing can capture transactions via IoT messages, network-based devices, and XML file transfers from operational systems. Dynamics Billing will then compare the transaction volume of each asset against the appropriate price plan for that customer per contractual commitments. Invoices are produced that identify services consumed for each of a customer's location and charges are aggregated for location, region, or according to the customer's required hierarchy.

Hands of cafe visitor holding credit card and putting it to the card payment machine

Benefits

  • Accurately capture consumption of services and bill for charges according to contract

  • Customers of credit processing services can assess their consumption of services on a consolidated report 

  • Review customers' consumption behavior and engage customers during billing to offer new services or enroll in new programs

  • Offer customers management  information to allow them control over their consumption of your services to better engage them in your services

 
 

Benefits

  • Effortlessly create and manage products and services as required by your customers

  • Design, test, and optimize pricing plans based on how your users are using your products

  • Test different charging methods based on customer, product, and usage attributes in the calculation of pricing

  • Bill when and how you want with numerous billing options with easy-to-read invoices

person touching hologram sphere 3D render

Omniware Approach

Dynamics Billing enables organizations to quickly set up products and services into natural hierarchies. New products will adopt characteristics from “parent” products and pass along characteristics to “child” products. Changes across entire portfolios can be made with only a few clicks. All customers are managed with a full suite of subscription management features, like entitlement management, cross-sells and upsells, and customer and business insights.

Challenge

Organizations often have large and constantly changing portfolios of products and services. Organizations can iterate different approaches in each market in which they operate with Omniware's solution. Our billing system manages large and constantly changing products and service offerings while still allowing them to go to market quickly.

Transforming Traditional Products to the Digital Economy

The digital economy allows organizations to iterate and adapt their products and services on the fly. This creates an explosion in the products and services they offer in each market. 

Advanced Invoicing for Complex Customers

You have created a desirable product and offer various bundles to customers. Organizations want to monitor the use of your products by all their employees. Additionally, they want their cost centers to review and pay consolidated invoices.

Challenge

Your existing billing solution cannot accommodate customized invoicing for enterprise organizations. Your billing staff cobble together workarounds to track employees in an organization, download individual invoices, consolidate and issue invoices as customers require them. While it works for you now, you want to offer customer self-service for how customers want to receive their employees’ invoices.

Business people meeting in the office together

Omniware Approach

Dynamics Billing offers unique features to manage customer attributes which can then be used for consumption, charging, or invoice distribution. Clients can enable customer-centric invoice distributions on our platform. For example, at the end of this month’s billing cycle:

  • Consolidate all invoices and aggregate amounts owing by your customers’ 10 regional offices

  • Issue separate invoice copies, one for each employee which shows their consumption of a la carte features and their selected bundle (bronze, silver, or gold) for the billing cycle

  • Display a button on each invoice to allow customers to change their bundled package

  • Display a button on the consolidated invoices to allow your customers’ AP department to pay

Benefits

  • Deliver customers the invoicing and messaging that is best suited to their business structure

  • Eliminate manual workarounds and minimize billing inaccuracies

  • Engage customers during billing to upsell or enroll in new programs

  • Offer customers’ management  control over their consumption of your services