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.
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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.
Global Cloud Billing Market Report Segment
By Component
- Solutions
- Services
By Billing Type
- Subscription Type
- Usage-Based
- Others
By Deployment Type
- Private
- Public
By Service Type
- IaaS
- PaaS
- SaaS
By End-use
- BFSI
- IT & Telecommunication
- Education
- Healthcare
- Consumer Goods and Retail
- Others
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Cloud Billing Market Report Segment by Region
North America
- United States
- Canada
Europe
- Germany
- United Kingdom
- France
- Spain
- Italy
- Rest of Europe
Asia-Pacific
- China
- Japan
- India
- Rest of Asia-Pacific
Rest of the World
- Middle East & Africa
- Latin America
Company Profiles
- AppDirect, Inc.
- Aria Systems, Inc.
- BillingPlatform
- Cerillion Technologies Ltd.
- CGI Inc.
- CHARGEBEE INC.
- Chargify, LLC
- CLOUDBILLING
- ConnectWise, LLC
- Jamcracker, Inc.
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