Situational pricing and usage billing.
By gaining insights from customers and offering pricing that reflects customer situations or product / service usage, companies can improve profitability and customer value. Usage based billing and real-time situational pricing can greatly enable data driven businesses by creating a competitive advantage against less capable competitors. This is done by using data driven revenue models and pricing incentives. Situational rules can be applied to offer customers pricing that is unique to their segment, location and situation or based on product characteristics, such as utilization, lifespan or location.
Data from IoT sensors or operational systems can provide insights into usage, capacity, availability of assets or customer behavior, which can guide a customer’s behavior with pricing incentives. Data is used to modify situational pricing. Pricing rules can be simple or complex.
Companies with commodity products or services face challenges in highly competitive industries. Optimized pricing can guarantee end-customers the best value pricing for commodity products and services. This is invaluable when entering new markets or increasing market share.
Increase market share.
Not all customers, in all segments, in all locations, in all situations will value your services at a similar price. By gathering data regarding customer behavior, situational rules can be applied to offer customers pricing that is unique to their segment and situation.
Businesses create price plans for customer segments, locations, jurisdictions, contracts and marketing promotions. This results in unwieldy billing operations which causes delays in price adjustments and new marketing promotions, limits pricing flexibility, restricts implementation of new products / services and new revenue models. Dynamics Billing allows you to significantly reduce price plans while still capturing the flexibility of customer or product segmentation, location, contract or other characteristics.
Businesses that use multiple channels of distribution for products and services need to compensate their channel partners. Dynamics Billing has an innovative ability to determine compensation that partners are due for sales. Compensation formulas can be derived from any structure and be as simple as percent of selling price or as complex as dynamically tiered volume or dollar commitments.
Enabling data driven businesses.
Data driven businesses manage large volumes of transactions. Transactions are used for operational management and increasingly for pricing and billing. Our data mediation engine assesses transactions for validity, and applies billing rules. As data volume grows, pricing, billing and invoicing keep pace.