3 reasons why you should do more with billing data
The data from your invoicing is invaluable for your company. Unfortunately, this often does not get the attention it deserves. We give you 3 reasons why you should.
…contain all relevant building blocks
Products, customers, quantities and prices. These are the basics for every company.
All this data forms your invoices. This data is therefore very suitable as a basis for your data analysis, for example in a BI environment.
…show actually invoiced euros
Many organisations report based on quantities. This may cause considerable risks.
Especially with organisations that have a target based on quantities, this creates undesirable side effects, such as working with (too) high discounts.
By using billing data for reports, not only the numbers are clear, but also the euros (or dollars, or…). And that’s what it’s all about.
…show development over time
A simple example of the value of invoicing data is the Customer Life Cycle.
The data you use for your invoices perfectly reflects how a customer develops over time. Which products it purchases, how much and when.
Compare this development with your customer base and find out when a customer is developing normally, or when it is necessary to take action.
Analyse your billing data!
As you can see, you billing data is very valuable. Make sure you can properly access and analyse this data. For example with CloudBilling Business Intelligence. With the CloudBilling billing platform, you put your billing in order. Then, with CloudBilling Business Intelligence, the data is unlocked in a BI environment. In addition, we look beyond the data on your invoices.
All relations between customers and products are also analysable. Customer groups, product groups, Customer Life Cycles, you name it!
Curious about the CloudBilling Business Intelligence solution? Contact us!
Original article: 27-11-2018
Last update: 23-08-2019