How do you develop omnipotence into customer behaviors?

Reflecting Variable Usage in Equipment Finance Deals

Equipment Finance companies provide financing for a portfolio of equipment for use by an organization. The range of equipment includes computing hardware, networking equipment, medical equipment, heating, ventilation, cooling, lighting, control modules and various types of infrastructure assets.

Challenge

The quantity of equipment assets will fluctuate over the life of a deal. Customers will need to use more or less 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 the fluctuation in assets is historically managed as a manual process. Updating the official list of assets and billing for changes in asset quantities has been updated and calculated manually.

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 or file transfer 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, or 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 

• Assess customers consumption behaviour and engage customers during billing to offer new services or enrol in new programs

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