Guide: 30 billing questions every recurring revenue business should ask before adopting an ERP
As a recurring revenue business, your financial management software needs to properly handle recurring revenue and complex billing scenarios.
Whether you’re a SaaS company, an energy or utilities business, a telecommunications company, or any other business with a recurring revenue model, an ERP system tailored to your specific and ever-changing billing requirements can streamline operations and support growth.
This guide, compiled from decades of ERP-focused experience, walks you through the 30 most important billing questions to ask when considering investing in ERP. These questions will help you uncover potential gaps and give you confidence that the ERP you choose will be able to do exactly what you need it to do, when you need it to.
What you'll find inside:
The guide covers comprehensive billing-related questions across various areas:
- Subscription management and billing: Understanding the ERP's capabilities to handle different subscription and usage-billing models, prorated billing, milestone billing, billing frequencies, and managing mid-term billing and contract changes.
- Revenue recognition: Ensuring ERP compliance with regulatory standards like ASC 606 and IFRS 15.
- Automation and integration: Exploring the ERP’s billing automation capabilities and integration with other systems like CRMs and CPQ tools.
- Invoice customizations: ERP's flexibility in customizing invoices based on customer hierarchies and specific presentation requirements.
- Reporting and compliance: Understanding the ERP’s reporting capabilities and compliance with tax regulations.
- ROI, scalability and security: Assessing the ERP’s scalability, security measures, and the ROI of investing in ERP.
Adopting the right ERP system is a long-term investment. By asking the right questions, you can ensure your chosen platform will grow with your business, handle complex billing scenarios, and maintain compliance with evolving standards, now and in the future.
Grab your copy of the guide here.
