Your billing data is invaluable for your company. Unfortunately, this data is often overlooked and does not get the attention it deserves. We give you 3 reasons why you should pay attention to billing data.
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.
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 EUR amounts (or USD, GBP, or any other currency). And that’s what it’s all about.
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.
All relations between customers and products are also available for analysis. Customer groups, product groups, Customer Life Cycles, you name it!
Clearly, billing data is very valuable. Make sure you are able to 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 of your invoices.