A strategic perspective on invoice-to-cash
Get a fresh perspective on improving the invoicing experience.
It’s the great debate of what an invoicing portal is ‘worth’ to a customer. Should we charge them to access their digital invoices if that’s our preferred option? How valuable is the custom reporting and cost allocation to their business? How will customers respond to a charge – is it something they’re expecting?
Rather it be the initial roll out or enhancements down the road, the invoicing portal pricing strategy always garners a lot of strong and differing opinions. Support teams are reluctant to charge for anything having to do with billing, given their daily exposure to the customers’ frustration in this area. Sales teams are eager to have a chargeable solution – or another value-add for negotiating – that they know customers will sign on for. And the product team is caught in the middle, left to determine the appropriate balance of customer satisfaction and incremental revenue.
So what are the common practices at play?
We surveyed our existing global client base to determine common pricing strategies for their invoicing portal offerings. Here are a few key findings:
Customer Pricing for Invoicing Portal
Customer Pricing for Unbilled Add-On
Although it’d be nice to say there’s a ‘going rate’, the price that customers are willing to pay – and that carriers are willing to charge – are greatly influenced by varying internal and external forces.
As you embark on the go to market discussions, think of (1) how the invoicing portal fits into your overall digital experience (2) the added value this functionality provides for your customers (3) the current satisfaction state and (4) the current strength of your customer relationships.
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Customer-centric Invoicing, Digital Transformation, OPEX, CAPEX, DSOs, & NPS Strategy.