This is a guest post written and contributed by James Messer, President and CEO at Transverse, a Rackspace Cloud Tools partner. Transverse’s dynamic activity-based billing solution, TRACT, allows companies to customize and automate their billing model to capture new revenue streams.
Last year, worldwide ecommerce sales topped $1 trillion dollars for the first time, according to digital marketing, media, and commerce outlet, eMarketer. That number is expected to grow by 18 percent this year as consumers continue to gravitate toward online shopping for convenience, greater selection and lower prices.
This is great news for ecommerce companies; but are they ready to handle the increase in transactions? One of the appeals of running an ecommerce business, as opposed to a brick and mortar storefront, is the significant decrease in operating costs as business aren’t burdened by rent, utility bills or sales associates. As the number of consumers buying goods online increases exponentially, ecommerce companies’ resource-constrained back offices are challenged to support growth– particularly when it comes to billing.
To remain competitive, ecommerce companies must keep pace with their customers’ needs, including customizing billing for a variety of goods and services. Companies also need to be prepared to handle a significant increase in transactions. When a consumer purchases an item online, it’s critical that the transaction is accurate, quick and easy. This helps decrease abandoned shopping carts due to a complicated checkout process, as well as customer frustration, or churn, due to billing inaccuracies. On the backend, billing accuracy is obviously also important, but for smart businesses, an automated, customized billing system that offers pricing flexibility and the ability to capture valuable customer purchasing data is also a must-have to compete.
With TRACT Billing from Transverse, businesses of all kinds can customize their billing plans to meet their individual customers’ buying preferences and ensure billing accuracy with an automated, customized billing system that offers pricing flexibility and the ability to capture valuable customer purchasing data. Unlike basic subscription models, activity-based billing software solutions like TRACT create a process for measuring, aggregating, analyzing, rating, charging, invoicing, payment processing and reporting on customer engagements in real-time.
Additionally, because Transverse leverages Rackspace’s leading hosting solution, which was ranked No. 1 on Internet Retailer’s Top Vendors to the Top 1,000 this year, our customers benefit from the same security, flexibility and reliability that Rackspace provides to the world’s top retailers. Transverse is also pleased to be a member of Rackspace’s Cloud Tools partner program, which extends Rackspace’s distinguished Fanatical Support to customers, among other benefits.
Having the right billing system in place gives you peace of mind, a boost in operational efficiency, enhanced customer analytics for effective marketing campaigns and lets you get back to the important things – like growing your business. So what are you waiting for? Get ahead of the competition by ensuring you have the right back-office solutions in place before it’s too late.
To learn how your business can select the best billing software and reap the benefits of activity-based billing, download a copy of our white paper, Boost Consumption and Create New Sources of Revenue with Activity-Based Billing, here. To discover how TRACT can help your company implement customized billing software, please visit us as www.gotransverse.com or https://cloudtools.rackspace.com/apps/887?48389002.