Cloud billing has recently emerged as a method of providing customized billing services from data stored in the cloud.
“Billing systems can help companies turn monthly consumer bills into an effective marketing tool and provide real-time access to customer information,” says Faisal Ghaus, Vice President of TechNavio.
According to a new TechNavio report, the Global Cloud Billing Services Market is growing steadily, with a projected CAGR of 27.61 percent from 2014-2019.
Recent advances in technology have led to more efficient servers, proficient analytical software, and improved databases, which has resulted in the convergence of these functions into a single solution known as an integrated revenue optimization solution. Vendors in the market such as IBM, Chargify and Aria Systems are developing these solutions to improve their revenue assurance, fraud management, and cost and margin analysis capabilities.
“New technologies, convergence of multiple products and services, and the introduction of various price plans are forcing telecom operators to constantly improve their revenue management capabilities,” says Ghaus.
Operators are adopting revenue assurance solutions to ensure the efficiency of their revenue management system, and avoid any potential revenue leakage, which will ultimately spur growth in the Global Cloud Billing Services Market.
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TechNavio is a leading global technology research and advisory company.
Founded in 2003, TechNavio has about 200 analysts globally and develops over 2000 pieces of research every year, covering more than 500 technologies across 80 countries.
TechNavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, re-sellers, and end-users.
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