The growing preference for optimising billing and revenue management (BRM) processes is driving the global billing and revenue management market. Billing and revenue management is a software-based solution that integrates an organization’s revenue and billing processes.
Billing and revenue management platforms provide numerous benefits to organisations, including reduced communication and collection costs, resolution of customer inquiries, increased customer satisfaction, and detailed revenue insights. Billing and revenue management is the ideal solution for companies that deal with ongoing revenue sharing, data monetisation, and settlements. Furthermore, the billing and revenue management platform records complete customer interactions, which are then used to provide omni-channel customer experiences.
Billing and Revenue Management Market: Market Dynamics
Expanding customer accounts coupled with rising complexity to manage customer accounts, payments, and balances is the key factor contributes the growth of global billing and revenue management market.
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Growing importance for identifying value and profitability— that customers bring to the enterprise, and rising preference for identifying and mitigating revenue leakage with integrated workflows and automated payment processing solutions by organizations across various industries accelerates the growth of global billing and revenue management market.
Additionally, increasing focus on integrating commerce, marketing, billing, sales, service and accounts in order to reduce the operating cost and to improve business processes fuels the growth of global billing and revenue management market. However, high implementation cost and complexity in integrating with the existing infrastructure is identified as restraints likely to deter the progression of the global billing and revenue management market.
Billing and Revenue Management Market: Regional Outlook
Because of the high preference for automating business processes and the presence of large players, the billing and revenue management market in North America is expected to dominate the market. Because of the expanding telecommunications, banking, and financial sectors, Asia Pacific is expected to be the fastest growing billing and revenue management market.
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Billing and Revenue Management Market: Competitive Landscape
Some of the prominent players in the global billing and revenue management market includes Oracle Corporation, SAP AG, Ericsson, Accenture, Estuate Inc., Netcracker, Information Technology Group (ITG), ARIA SYSTEMS, INC., Nokia, MBXR, and CSG International
Key Developments:
- In August 2017, Ericsson selected by Developing Telecoms Ltd – a Dominican Republic based mobile network operator company, in order to deploy its revenue management solutions
- In July 2014, Iridium Communications Inc. and Oracle jointly announced that, Iridium Communications Inc. has completed the implementation of Oracle Communications Billing and Revenue Management solution.
The research report presents a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies. The research report provides analysis and information according to market segments such as geographies, application, and industry.
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Related Link :
https://twikkers.nl/blogs/95271/Consent-management-Market-2021-Size-Top-Key-players-Latest-Trends
https://www.shtfsocial.com/blogs/36233/Consent-management-Market-Research-Report-2021-to-2028
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