The decision to deploy a recurring revenue management system is not a technology upgrade – it’s a business transformation that impacts the entire organization and crosses system, functional, and organizational boundaries. The billing project is critical to recurring revenue success and all stakeholder organizations should give it priority treatment. As a result, strong project governance, stakeholder management, and prioritization practices are necessary.
It’s important to understand that recurring revenue billing solutions change your business focus from sales transactions and margins to a more customer-centric approach. These new monetization models and the dynamics of customer relationships will touch your entire enterprise. Existing processes (from customer management to rating and charges) will change and the result will be felt across various organizations (from finance to sales to security).
Defining and following best practices for deploying a recurring revenue billing solution is key to its success. This begins with building a solid project management team whose members represent the best interests of the projects, not of any single stakeholder group. To ensure project success, you must follow the best practices and avoid the Seven Deadly Sins of Billing Deployment: poor system selection, bad data, understaffing, moving targets, customization, weak governance, and inadequate exception handling. Potential roadblocks also need to be identified and addressed early in the process to avoid future delays.
Billing projects are disruptive by nature as they may affect many business processes and functions and involve a long list of stakeholders. The No BS Guide to Recurring Revenue Success will help you minimize and manage the disruption by providing best practices for project management, strong governance, and stakeholder management. Download the guide today and get started on your business transformation.