Complex Subscription Billing Scenarios Simplified in the Cloud
The "subscription economy" is red hot with consumers able to receive almost anything in a monthly box and businesses able to break up costly software purchases into more manageable monthly fees.
Subscription billing, however, is one of the more complicated businesses processes especially as end-users demand more flexibility to meet their preferences. With the lure of recurring revenue, companies keep at it though looking for a technology partner to help simplify billing and meet demands.
Aria Systems, a cloud-based monetization platform, has announced the general availability of Aria Crescendo, a platform that will help enterprises provide their customers with more choices and more self-service options.
For instance, a telecommunication company using Aria Crescendo could provide its customers with the ability to pay their Internet bill with their business credit card and their cable TV bill with their personal debit card. Customers don't, of course, care about the complexities that this billing flexibility offers, which is why a solution like Aria Crescendo has such value. The new release also allows for split-pay to portion components of service bundles among payers and users (think roommates splitting utilities automatically rather than having to collect funds through an app like Venmo).
For popular subscription box services, the product allows for more user control of when and how they buy, which can improve retention and increase customer lifetime value, as they are not tied to one specific billing model and can choose the promotions they look to take advantage of, the product attributes they want and more. It's not enough to offer a subscription, customers need to be able to have complete control over it in order to continue using it.
Aria Crescendo also provides value to the B2B world, where an n-tiered account structure means bills can be split in multiple ways to better suit customer needs. A bill can be parsed to any entity and be delivered to company specifications (even with the ability to charge one entity in British pounds, for instance, and another in U.S. dollars). Products can also be rolled up for charging all along the hierarchy.
“Aria Crescendo raises the bar for cloud billing,” said Tom Dibble, president and CEO of Aria Systems. “It’s the first agile billing platform designed with the end-customer in mind. Ultimately Aria Crescendo helps the line of business optimize every account to meet exacting customer needs, create initial sales, and upsell and cross-sell opportunities at every customer touchpoint. Customers have greater choice, buy more and are retained for longer periods of time. The ultimate payoff is increased customer lifetime value and sustained growth.”