Consumption billing is the concept of only charging your customer for what they use. Consumption-based services allow an organization to adopt new technology with zero upfront cost.
According to Gartner, cloud waste is estimated to total 14.1 Billion in 2019 and rising due to the lack of transparency and mismanagement. With this said, many companies like Microsoft and AWS have created metered-based services to offer the flexibility and agility that modern companies demand.
Cloudmore already helps customers solve the transparency challenge for some services such as Microsoft Azure by automating subscription management and reporting processes for metered-based services. A new consumption billing feature has now been added, enhancing visibility and managing billing in a secure, controlled environment, saving your company money, increasing customer satisfaction, and enabling you to grow your business faster.
The new feature enhances the powerful and flexible service loading capability that enables you to load your services catalog into Cloudmore and gain all the usual benefits of Price Management, Subscription Management, Billing Aggregation and, Customer self-service.
To achieve full automation, you can optionally add synchronization of consumption billing feeds via APIs from SaaS, Public Cloud, Hybrid Cloud environments, and licensing systems.
All the existing Cloudmore service loading, such as provisioning type, renewals rules and notifications, and custom properties, apply in the same way for consumption services. Once a new consumption service and associated products have been added to Cloudmore, the service will appear in the organization E-store and can be added by you or your customers in the usual way.
Cloudmore has introduced this functionality to ensure that all customers can automate the management and billing for more types for services without the need for a complex technical integration, to reduce the total cost of ownership, and bring the benefits of digitization of processes, billing accuracy and higher levels of customer self-service to your business