Create live invoicing and usage-based billing
By 2025, 75% of enterprise software providers will offer a consumption or transaction-based pricing model in their portfolio, up from 35% today.
Overcoming complex processes to optimize dynamic usage metering and flexible billing are key growth opportunities for many organizations. Real-time billing for usage at a granular-level is critical to top line results and client satisfaction especially as SaaS vendors move toward pay-per-use billing models.
A Better Way:
Advanced analytics and machine learning have enabled computers to carry out heavy and complex tasks almost instantly. Billing and invoice processing – one of the most burdensome and complicated tasks in business – has seen major changes since the introduction of ML. ML-enabled billing systems can consume data from historical records, learning how payments have been harmonized in the past to predict how best to match future invoices. Additionally, it becomes possible to identify inconsistencies and disparities within invoices through the ability to combine and analyze massive volumes of data.
The Database for Real-Time Decisions
FeatureBase is designed to deliver secure, fast, continuous access to all your data in a machine-native format. The first and most crucial step in leveraging big data to allow for complex billing is ensuring all of the data is ready and accessible.
Rather than the conventional approach of moving, copying, and pre-aggregating data, FeatureBase extracts features from each of the underlying data sources and stores them in a centralized access point, making data immediately accessible, actionable, and reusable. FeatureBase maintains up-to-the-millisecond data updates with no time-consuming, costly pre-aggregation necessary.
The Benefits of FeatureBase:
Real-Time Updates for the Freshest Data
Millisecond updates to dynamic billing calculations for the most accurate view of revenue.
Ingest and analyze all of your data without concerns around rising storage and compute costs.
Use ML to Offload Repetitive Work
Enable live invoicing without manual intervention.
Complex Billing in Real Time with FeatureBase:
Request a Consultation—
Contact us today to learn more about how Molecula’s FeatureBase can transform your business through eliminating pre-aggregation and unlocking real-time value.