The global cloud billing market is anticipated to grow at a considerable CAGR of 17.2% during the forecast period. Billing and maintaining a record of finances is one of the major concerns of all businesses. Cloud billing is the combination of cloud computing and electronic billing, it encompasses billing’s functional requirements such as quotes, payment schemes, capturing recurring revenue, and others, as well as non-functional requirements such as security, scalability, and fault tolerance. From a functionality and benefits perspective, cloud-based billing delivers across every aspect from sales to recurring revenue recognition, with more efficiency and accuracy. The integration of cloud billing software and third-party systems provides a single source of information that enables the user to provide a unified customer view across self-service portals, e-commerce sites, sales, and support solutions.
Browse the full report description of “Cloud Billing Market Size, Share & Trends Analysis Report by Component (Solutions and Services), by Billing Type (Subscription Type, Usage-Based, and Others), by Deployment Type (Private and Public), by Service Type (Infrastructure-as-a-Service (IaaS), Platform-as-a-Service (PaaS), and Software-as-a-Service (SaaS)), and by End-use (BFSI, IT & Telecommunication, Education, Healthcare, Consumer Goods and Retail, and Others) Forecast Period (2022-2028)” at https://www.omrglobal.com/industry-reports/cloud-billing-market
The demand for cloud-based billing is surging due to the advantages that cloud billing provides. It is a cost-effective way to address financial challenges for many businesses. When a business opts for cloud-based billing software over manual billing and invoices, while enhancing the recurring billing process of companies using the subscription model while saving time. With such software, users can set up accounts designated for recurring payments and notify clients before their payment dates. Billing software also allows for easily setting up a subscription-based business model so that enterprises can retain their customers. It also enables a simple auditing process as all critical details including recurring billings, invoices, subscription-based payments, and monthly income financial reports are generated automatically allowing detailed analysis of every report anytime from the dashboard through automated billing software. Additionally, it also allows to easily assess taxes, liabilities, and expenses which supports the user to get the benefit of tax deductions. For instance, in July 2020, Aria Systems launched the Aria Marketplace Suite, an extension to the Aria billing and monetization platform that enables B2B and B2C marketplace providers to streamline their digital marketplace operations. The suite builds on Aria’s billing platform by providing an easy onboarding experience for partners/suppliers, a comprehensive set of product and revenue management tools for marketplace operators, and a seamless billing and payments experience for end customers.
Market Coverage
• The market number available for – 2021-2028
• Base year- 2021
• Forecast period- 2022-2028
• Segment Covered-
o By Component
o By Billing Type
o By Deployment Type
o By Service Type
o By End-use
• Regions Covered-
o North America
o Europe
o Asia-Pacific
o Rest of the World
• Competitive Landscape- including Oracle Corp., Salesforce, Inc., SAP SE, Zuora, Inc., and Aria Systems, Inc., Recurly, Inc., and others.
Key questions addressed by the report
• What is the market growth rate?
• Which segment and region dominate the market in the base year?
• Which segment and region will project the fastest growth in the market?
• Who is the leader in the market?
• How players are addressing challenges to sustain growth?
• Where is the investment opportunity?
Global Cloud Billing Market Report Segment
By Component
By Billing Type
By Deployment Type
By Service Type
By End-use
Global Cloud Billing Market Report Segment by Region
North America
• United States
• Canada
Europe
• UK
• Germany
• Italy
• Spain
• France
• Rest of Europe
Asia-Pacific
• China
• India
• Japan
• South Korea
• Rest of Asia-Pacific
Rest of the World
• Latin America
• Middle East & Africa
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