Eradicating cloud billing issues
Experts agree, the cloud isn’t going anywhere. So, whether you’re looking to expand into cloud services or offer more of them to meet customer demand, you’re going to need a clear understanding of common hurdles when it comes to the cloud, and what you can do to solve them.
Particularly if you’re new to offering cloud services, you might not be feeling the pain just yet. If you’re a cloud veteran, this will be all too familiar. No matter where you fall on the cloud services spectrum, we’ll cover ways to make your job easier, your customers happier, and your revenue recurring.
Errors and bottlenecks
Billing for the cloud can be kind of a mess. Handling it the wrong way could result in billing errors, payment bottlenecks, and a dip in your profit margins. Thankfully, things like this are exactly why one of our core values is to obsess with partner success. That means we’re dedicated to creating simple solutions that help eliminate the most common cloud billing errors so that you can make the most of your opportunities in the cloud.
Feel the burn
Let’s be honest. When an invoice goes out wrong, you feel a whole lot of heartburn about it. If you’re overcharging, your customers give you an earful. Undercharging? You lose out on the revenue your team is depending on. In either case, you’ve got to put in the man hours to fix the problem, smooth ruffled feathers, and send out new invoices once the mistake is corrected. And your customers? Still have a bad taste in their mouth thanks to that incorrect invoice.
Add in the complexities of not just offering cloud services, but billing for them too, and things start to look down right stormy.
The manual process of billing for cloud services is easily one of the biggest pain points for most technology solution providers who’ve started adding cloud services into their service offering. Account management for these cloud services can be complicated, and the faster deployment of these solutions make it harder to juggle invoices, vendor licenses, and consumption data per product.
If you do manage all of that, you’re facing the next task – parsing out the information for each individual client, putting together a detailed invoice one line at a time, sending it out on time for every billing cycle, and hoping no one adds an item or device in the middle of the month.
Vendors and distributors have started consolidating information too, but that means your team will spend their time reconciling and adjusting every agreement and invoice to avoid overages or prorating mistakes.
With so much to keep track of at such a fast pace, it’s only a matter of time before you start running into serious issues. But the cloud seems to demand this kind of chaotic account management, and you’ve got to offer the cloud to succeed.
The silver lining
As it turns out, there is a much easier way to enjoy all of the benefits of the cloud—including instant deployments, significantly better uptime, and easier management of functions per vendor—and maximize your profits at the same time.
When you automate cloud billing and accounting practices, you’ll be able to:
- Strategically plan your initiatives
- Find more recurring revenue opportunities
- Save time and resources with no more manual updates
- Minimize errors in reconciliation and invoicing
Unite the cloud
ConnectWise Unite™ can automate the accounting process, since it integrates directly with vendors and distributors. It can identify any changes to usage or licenses immediately and provide your team with insight immediately. Additionally, since it syncs directly with your accounting package and business automation platform, you can rest assured knowing that when it’s time to invoice your clients and reconcile with your vendors, your finance team will be able to do just that efficiently and accurately.
ConnectWise is constantly innovating to help you excel in developing a cloud services practice area in your business and we have no intentions of stopping! ConnectWise Unite™ makes the billing of cloud services easy and seamless, and provides your team with increased efficiencies that allow you to achieve greater control in the cloud and provide clients a portfolio of world class solutions.