7 Ways Cloudmore Can Help MSPs With Billing
by Karen Turtle, on 19-May-2020 10:07:56
Managing cloud billing shouldn’t be a complicated affair, and it certainly shouldn’t be eating up significant amounts of your team’s time.
Cloudmore’s billing automation solution helps your managed IT services business to save money, eliminate billing errors and come out on top by allowing your team to promptly deliver accurate invoices and simple billing and usage breakdowns for subscriptions, one-time sales, and custom services.
Below are some of Cloudmore’s most valuable attributes for MSPs.
1. Eliminate Complicated Cloud Vendor Statements
Manually reconciling complex vendor invoices and usage files can be a difficult task, even if you’re only managing a few customers and services. Cloudmore removes the hassle of analyzing large volumes of detailed payment and usage data by automatically importing and processing this information on your behalf. As a result, accounting can log into the system, and invoice customers accurately, and in minutes, instead of days.
2. Offer Customers Simple Billing and Usage Breakdowns
Delight customers by giving them access to billing and usage breakdowns and their payment and invoice histories via customized dashboards. Cloudmore updates billing information in close to real-time, allowing customers to have an up-to-date view of their spending and cost allocation. Cloudmore offers a range of useful business tools, including a spending limit facility that helps customers with strict budgets to track and stay within pre-agreed spending limits.
3. Provide Different Pricing Models to Meet Evolving Market Needs
On-demand and consumption-based IT are fast-becoming a widespread offer among vendors, distributors, and the IT channel in general. Cloudmore enables MSPs to embrace a range of pricing models to meet the evolving requirements, including resource billing, consumption billing, flat-rate billing, and one-off billing. Cloudmore does the math.
4. Give Customers Multiple Renewal Options
Recurring revenue isn’t easy to manage, especially if you’re relying on business solutions that were built before the subscription economy boom. Because Cloudmore is a cloud commerce platform, our solution has been devised to make it simple for you to set subscription terms, renewal dates, and expiry notifications. The platform also helps you to keep track of suspended, re-activated, or canceled subscriptions, allowing you to maintain a close eye on renewal and upsell opportunities.
5. Bundle Your Products and Services
Increase your average order value by bundling different items together and selling them as a package. You don’t have to worry about complex billing calculations, because Cloudmore does them for you. A recurring bundle, or (R)undle can work magic on your margins. Anne Gherini at Affinity, suggests bundling less popular products by “tossing them into the bundle” to increase the perceived value of the package and introducing new products to customers by coupling them with best-sellers.
6. Bill at Scale
While ERP systems can manage the renewal of contracts, most can't handle the proration of consumption billing or mid-cycle changes to license quantities. Cloudmore handles these changes seamlessly and can process vast amounts of transaction data, syncing with vendors to automatically update price lists and usage while simultaneously monitoring and taking account of customer moves, adds, and changes. No matter how big you want to get— even if you become a high-scale operation—Cloudmore has your billing covered.
7. Benefit from Accurate Real-time Reporting
Revenue recognition should be watertight, and this applies for your customers too. Cloudmore delivers a choice of reporting capabilities that support an accurate view of ROI, costs, and spending. Cloudmore’s reports ultimately help you to drive business profitability, and your customers to carefully track and manage their costs and usage.
Cloudmore billing forms just one part of a complete cloud brokerage solution for MSPs. Reach out to our team to find out how we can meet your full requirements below.