Mid Month Offer - Upto 40% Off | OFFER ENDING IN: 0 D 0 H 0 M 0 S

Log In to start Learning

Login via

  • Home
  • Blog
  • Salesforce Billing: Usage-b...
Post By Admin Last Updated At 2021-08-13
Salesforce Billing: Usage-based billing process

Every business enterprise wants to stay clean while processing the bills and invoices to avoid inconsistencies. Salesforce Billing solutions provide a better way to process these bills and make our life easier. It helps to keep track of the customer’s bills, payments, balances, and issuing invoices. Moreover, Salesforce Billing helps to automate the invoicing process and enables businesses to accept and distribute payments easily. 

Salesforce CPQ and Billing processes work together to give the best user experience to the users. Here in this blog, we will explore how the usage-based billing process will help companies and customers.

Many organizations today having numerous customers found the issues in managing huge amounts of bills. Customers have a different perspective of using various products according to their needs. They also like to pay for what they have used, whether a service or a product. Salesforce Billing helps to sort out those bills based on customers’ product usage. It keeps everything in the right place and informs the business of what actually happening. 

Earlier, only water supply and electric utilities were using the subscription-based services and bills accordingly. But now the emerging e-commerce platforms are also utilizing this facility for their new business model. Usage bills are invoiced on the consumption basis of the service, such as water supplies, electricity bills, DTH bills, etc. 

Salesforce Billing Usage

Let us move further in this blog to get the exact idea of the usage-based billing concept in the Salesforce Billing system.

Salesforce Billing Usage

The concept reveals by its name only that the bills are invoiced on the basis of service usage by the customers. However, Salesforce Billing will help to arrange the usage-based products and services and invoice them based on the amount of usage. This will not only help the business to run smoothly but also makes customers happy with the consumption bills. 

Here, a vendor will come to know how much service has been used by a particular customer and bills accordingly. The process becomes easier with the automatic generation of invoices, bills through Salesforce Billing software. 

Get real-time skills with the OnlineITGuru expert team through attending a demo for Salesforce Billing Online Course. Learn the best skills in Salesforce from industry experts. 

Moreover, this billing system automates rating, invoicing, taxation, payments, pricing, collection, etc. All the above companies can also get the real-time analytics of all those things in the final report. Further, users can customize the tracking and grouping the usage instances easily. 

Here, usage products mean order products, including Charge Type Field of actual usage. 

Mainly, the usage of products is billed in arrears. Here, the vendors have to gather customer’s product usage information. This information needs to consider before preparing actual bills. 

Bills with quoted usage are much effective and are an estimate that affects the booking value. But the actual billed amount will be different from the quote estimate. 

In Salesforce Billing, the key usage billing definitions include the following. Such as

Usage Records

Aggregation

Mediation

Usage Rating

Summaries

Matching ID

In this way, the process starts and continues through various objects. 

How does usage-based billing work?

This is performed using a software tool like Salesforce Billing. For example, a customer purchases a product or service from a vendor. Then the vendor creates a metering system that calculates the usage through usage billing software. Through this, the companies assess the customer’s usage of their product or service in real-time. Also, they can prepare the bills accordingly. 

Thus, users can prepare proper budgeting and plan for their business. Moreover, with the use of billing software like Salesforce Billing, customers can swiftly make their bill payments through various gateways or channels. This way, clients and vendors both feel satisfied. 

Furthermore, the system will be ready to go while they deploy and configure the billing system. It may be setting upper circuit in cost/plan, budgeting, subscriptions, discounts and pricing, payments gateway, etc. 

Also, the Salesforce Billing system offers to support the rating and billing of various customers based on their usage. This helps to determine the exact and accurate price or quote for them. Through the support of regular billing frequency, each customer will be issued an invoice automatically for each period. This is the power of automating the billing system, where it smoothens the payment system for business. Besides, splitting and consolidating invoices enable the production of different invoices per order. This ensures that the customer is accurately billed based on the agreed contract. 

There are multiple insights and analytics under Salesforce shows that how a customer uses services, spends, revenue results make in, etc. Here, Salesforce CPQ integration also works well by taking care of the complete quote to cash process. So users can easily configure their quotes for the potential leads and converting them as customers start their billing. 

This is how the usage billing system works as a whole. 

||{"title":"Master in Salesforce Billing", "subTitle":"Salesforce Billing Certification Training by ITGURU's", "btnTitle":"View Details","url":"https://onlineitguru.com/salesforce-billing-training","boxType":"reg"}||

Usage-based billing advantages

Using the Salesforce Billing software for usage-based billing purposes offers great value to the business and users. The following points will give a complete idea of the values offered by usage-based billing.

Scalability

Usage-based billing, under the Salesforce Billing process, is highly scalable. Here, meter-based billing provides great benefits to small and startup enterprises. Therefore, these growing companies can explore great results when they get such high-quality assets. They also can scale high without spending much money. Further, this system helps those companies to remain competitive and dynamic in the current market.

Accessibility

The flexibility of accessing the data is a major advantage for the users of usage-based billing. This system allows customers to access their products and services from anywhere across the globe. Hence, accessibility of the products and services increases the market share for the products automatically. 

Productivity

This latest billing system from Salesforce Billing also enhances productivity. The automatic production of bills digitally that go to the client directly will increase the efficiency of the business. Also, the vendors can combine individual invoices and send a final bill to the customer, which saves a lot of time and money. Hence, the productivity of the working personnel increase as they can focus more on other business activities. 

Better branding

Through the use of a usage-based billing system, the brand value of the products and services of a specific business increases. It also can increase brand recognition through attaching logos, themes, colors, marketing features, etc. to the invoice copy. 

Increase in revenue

The following billing system helps business units to save costs and increase revenue well. This system automatically calculates the bills, invoices of the customers based on their usage of products and services. Also, it saves a lot of time for employees with fewer errors in bills that manual billing may see. So, the revenue of the business can grow automatically with these software activities. 

Flexibility

This billing system gives flexibility to the users and customers as it comes with various payment plans and subscription processes. Thus, customers can have weekly, monthly, quarterly, or annual billing cycles as per their convenience. Also, the customers can opt for the payments on a limited basis. Here, they will get a bill once they reach or out of the threshold limit of using the product/service. Hence, this flexibility will improve the billing system more. 

Usage-based billing system application

The usage-based billing system under Salesforce billing is applicable to a wide range of businesses. Let us have a look at the various sectors that this type of billing is applicable. 

Telecommunication- 

This is the major business sector where this billing software is applicable. It produces bills as per the customer uses the telecom services including texts, calls, internet, etc. 

Taxi-services

Another important sector that uses a metered-billing system is the taxi service. Generally, taxis or cars that provide service to customers or the public have installed meters on their vehicles. These meters automatically calculate the bill for the distance traveled by the customer. 

Entertainment services

Today, every house has a television, a computer, with the latest models and designs. Here, the cable TV network services use this usage billing system to produce bills as per the customers’ usage. They also calculate the data usage and charges for the audio or video streaming, downloads, etc. 

Like this, there are many services that use this type of billing system for their customers and clients. This gives them much benefit and relieves them from the hectic burden of preparing bills for each customer. Automatic bill generation eases the business process with much scalability.

Conclusion

These are the well-known facts about usage-based billing systems under Salesforce billing software.  This system helps many businesses and users by automatic bill production based on the customer’s usage for a certain period. It saves a lot of time and money for the business and employees as well. The bills are based on the usage of products and services calculated through software applications. Also, they provide the flexibility and control of access to bills and payments for the users and customers. 

Getting the bills and payments in a clean and easy manner, both the customers and business owners feel satisfied. If you’re thinking to opt for this software for your business or want to learn more about this software, then you’re in the right place. Get practical learning experience of Salesforce Billing Online Training with IT guru industry expert mentors. Also, you can design a better career with this learning.