With the global cloud billing market set to grow from $4.5 million in 2015 to $14.6 million by 2020 (a CAGR of 26 percent), it’s easy to see why companies are interested. How about you? If you’re a telephony company providing class 4 or 5 service, you should be. If you’re ready to make the jump, here’s what you should start looking for in a trusted hosted billing provider:
Payment options: You need the ability to specify automatic top-ups for prepaid accounts; configure spending limits for postpaid accounts; send preemptive credit card expiry notifications; and apply penalty calculations for overdue amounts.
Reporting: Make sure you can easily view call detail records, as well as manage aged receivables. Also look for reconciliation reporting, deposit handling and interest calculation. Be sure you can automatically adjust deposits if needed, as well as maintain unlimited financial history.
Tax module: You need robust reseller tax reporting, complete with end user taxation rating and the ability to view different billing modules. See if you can easily add customer tax exemptions, and make sure your provider offers access to a third-party tax expert who can assist with tax mapping and consultation.
Additional features: These include everything from unlimited rate sheets to toll-free origination billing to integration with popular third-party platforms like Asterisk, FreeSWITCH and Sansay. Can you bill usage on DIDs, extensions, virtual numbers, trunks and IP addresses? Can you easily bill one-time fees or for specific recurring services? Do you have rating for blended origination? These are all important features to consider.
There’s a better way to collect, rate and tax voice and related services, and it starts with cloud hosted billing. If you ask us, hosted billing should be a go-to tool for running your business more efficiently.