How Convergent Billing Software Can Improve the Customer Experience

Billing and payment processes can be complicated and time-consuming, leading to customer confusion and frustration. These processes directly impact customer satisfaction and loyalty. This is where convergent billing solutions come into play. This innovative software integrates billing and payment processes, making them faster, simpler, more accurate and more convenient for customers. Read on to get insight into how convergent billing and Advantage 360 can improve your customer experience.

Problem: Billing is a complex workflow…how can I improve this?

A key goal of convergent billing is a user-friendly interface that allows for easy access and understanding of billing information. An intuitive interface reduces the learning curve and simplifies customer experience, reducing customers' frustration. As a result, customers will have the confidence, and trust to rely on convergent billing systems, leading to higher customer retention and loyalty.

Advantage 360’s convergent billing solution offers a simple, perceptive platform that allows its users to manage all billing processes in one place. Where many telco operators use approximately 7 different systems from different vendors, Advantage 360’s convergent billing software replaces all these systems with one solution. This unique approach is much more than just a billing system, it’s an end-to-end solution. In addition, our powerful reporting dashboards, grant users easy tracking of their billing data, from an operational perspective through revenue generation and payment collection to easily make informed business decisions. Overall, an important goal of our convergent billing system is to simplify and unify the billing process for its users, making it easier to manage customer billing needs.

Problem: How to improve manual errors, and lack of efficiency in billing?

Automating billing processes can massively reduce any potential for manual human errors, resulting in improved accuracy and reduced customer frustrations and challenges. Convergent billing software creates confidence in customers that their billing information is accurate and up to date.

Advantage 360’s convergent billing platform combines and standardizes billing data from multiple sources into one, unified view. Integrating with other systems, such as CRM, payment processing, and customer service systems, further automate and streamline billing processes, and aid in the elimination of any discrepancies and errors that can arise from using multiple billing systems. By automating the billing process of generating invoices and bills and providing real-time data, the system can also help reduce the amount of time and effort required to resolve any billing issues. By centralizing billing information in a single platform and automating billing processes, efficiency and business financial management are largely improved.

Problem: How can I adapt to changing business needs?

 Convergent software billing solutions allow customers to choose different billing options, such as monthly, quarterly, or annual billing, which can better suit their specific needs. Setting up automatic payments can also take the worry out of meeting payment deadlines.

However, Advantage 360 provides software that is flexible in multiple different ways. In addition to multiple different billing options and customizable billing cycles, Advantage 360 lets customers choose from a variety of payment options including credit card, bank debit, lockbox, fast scan and web/ API/ IVR payments. Advantage 360 offers a highly configurable platform that enables new product and service offerings including over 70,000 features a year and an average of 3,500 enhancements a year. This allows customers to respond to changing market conditions or regulations, to stay competitive. Furthermore, by adding new features that enable businesses to offer new products or services, convergent billing software can help to increase revenue and expand business offerings.

Problem: How can I improve the accessibility of billing software for my customers?

 Many convergent billing software solutions come with a self-service portal, permitting customers to view and manage their accounts on their own. This is a valuable feature in creating accessibility as it enables customers to view and manage their accounts without the need to contact customer support.

At Advantage 360, our Self-Care offerings enable customers to manage their accounts, allowing access to a multitude of options, such as plan and free usage details, top-up capabilities, balance details and card or direct debit payments, providing customers greater control over their accounts. The ability to also pay bills on the customer’s terms through one-off or recurring payments gives customers the control they require. In addition, the WEB360 platform offers custom branding and themes, a variety of language and currency options and CMS-style page management. This Self-Care portal not only improves the customer experience but also increases efficiency, and customer engagement, making it an important aspect of modern billing.

In conclusion, convergent billing software can significantly improve the customer experience by streamlining and automating billing and payment processes. With its user-friendly interface, improved accuracy, increased flexibility, and self-service portals, customers can enjoy a faster, more convenient, and more satisfying billing experience. By implementing convergent billing software, businesses can improve the customer experience and increase customer satisfaction and loyalty, which are critical to building long-lasting customer relationships.

For more information contact your A360 representative or email sales@advantage360.com.

References (4)

Grand View Research. “Convergent Billing Market Size & Share Report, 2022-2030.” Convergent Billing Market Size & Share Report, 2022-2030, 2022, https://www.grandviewresearch.com/industry-analysis/convergent-billing-market

Inc., Alepo Technologies. “Delivering Service Innovation with Convergent Billing and Charging.” Medium, Medium, 2 Dec. 2021, https://alepotech.medium.com/delivering-service-innovation-with-convergent-billing-and-charging-c8ad8700e303

Messer, James. “Council Post: Why Automated Billing Is Essential for Business Growth.” Forbes, Forbes Magazine, 30 Apr. 2020, https://www.forbes.com/sites/forbestechcouncil/2020/04/30/why-automated-billing-is-essential-for-business-growth/?sh=413f0b5c66e4

PayStudio. “The Importance of a Good User Interface in a Payment System.” LinkedIn, 23 May 2022, https://www.linkedin.com/pulse/importance-good-user-interface-payment-system-paystudioo/. Accessed 3 Feb. 2023.