Telecom Billing Models
Today's communications service providers must offer various billing models to keep pace with the ever-changing market. TimelyBill can help!
With TimelyBill, your company can provide more billing alternatives regarding pricing, product offerings, and service payment methods.
Our billing software enables you to track your customers' services automatically, generate and send invoices, and accept payments in various ways.
What is a Billing Model?
Simply put, a billing model determines what prices to charge for your products or services.
TimelyBill supports one-time billing, subscription billing, usage-based billing, recurring billing, and hybrid billing. Let's take a look at some of the different billing models to help you make an informed decision about the best options for your telecom business:
One-Time Billing Method
A one-time fee typically covers hardware, installation, service set-up, or a service call. Our platform enables you to easily configure one-time or non-recurring costs, calculate taxes, and generate invoices on demand.
Subscription Billing Method
With subscriptions, the price a customer pays and the service they receive is nearly identical from period to period. In the subscriber model, you can offer trial periods and enable customers to upgrade or downgrade their subscriptions.
Our software helps you manage your customer subscription life cycle with reliable and timely billing. It also allows you to manage subscriptions and automate payment collection to build lasting customer relationships.
Usage-Based Billing Method
Usage-based billing (consumption billing) tracks how much a customer "consumes" your products or services to create dynamic invoices. Usage can include phone calls, data, text messages, or fax pages a customer uses over a determined period.
In this scenario, TimelyBill could be used to bill your customers for all the calls they made or data they downloaded.
Recurring Billing Method
The recurring revenue system generates repeated customer revenue via renewals or long-term contracts. In the recurring charge model, you charge customers regularly for a product or service. Recurring billing helps you automate billing by configuring different billing cycles, payment due dates, and dunning rules. TimelyBill's highly customizable billing rules support the definition of pricing terms, discounts, and proration.
For example, you can set up your services to automatically bill once a month, quarterly, annually, etc.
Hybrid Billing Method (All of the Above)
With hybrid billing, you can combine various service charges into a single invoice and present a consolidated view to the customer. (i.e., voice, data, cable, IoT, and landline). Customers receive an itemized bill and make one payment for all their services.
TimelyBill's flexible convergent product catalog can discount and bundle any mix of one-time and recurring services.
Consumers need purchasing choices and flexibility. TimelyBill enables you to sell services and charge customers in a way that best fits their needs.
Telecom billing is a complex process that requires precision and accuracy. The software platform you choose should be able to produce accurate and timely invoices every time. To learn more, check out this blog post: "Essential Features of a Telecom Billing System."
