Valley Cottage, NY -- (SBWIRE) -- 05/13/2019 -- Billing and Revenue Management Market: Introduction
Growing preference for optimizing the billing and revenue management (BRM) processes is the key factor drives the growth of global billing and revenue management market. Billing and revenue management is a software based solution which integrates the revenue and billing process of an organization. Billing and revenue management platform offers various benefits to the organizations such as, reduces communication and collection related costs, solves the customer inquiries, improves customer satisfaction, and delivers detailed insights of the revenue. Billing and revenue management is the ideal solution for business entities involved in continuous revenue sharing, data monetisation and settlements. Also, billing and revenue management platform captures complete customer interactions which is used to deliver omni-channel customer experiences.
Billing and Revenue Management Market: Market Dynamics
Expanding customer accounts coupled with rising complexity to manage customer accounts, payments, and balances is the key factor contributes the growth of global billing and revenue management market. Growing importance for identifying value and profitability— that customers bring to the enterprise, and rising preference for identifying and mitigating revenue leakage with integrated workflows and automated payment processing solutions by organizations across various industries accelerates the growth of global billing and revenue management market. Additionally, increasing focus on integrating commerce, marketing, billing, sales, service and accounts in order to reduce the operating cost and to improve business processes fuels the growth of global billing and revenue management market. However, high implementation cost and complexity in integrating with the existing infrastructure is identified as restraints likely to deter the progression of the global billing and revenue management market.
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Billing and Revenue Management Market: Market Segmentation
The global billing and revenue management market is segmented on the component, end-user industry, and by region. On the Basis of component the global billing and revenue management market is segmented into software and services, the service segment is sub-segmented into consulting, system Integration, and others. On the basis of end-user industry, the global billing and revenue management market is segmented into telecommunication, BFSI, logistics & transportation, and others. Regionally, the global billing and revenue management market is segmented into North America, Latin America, Western Europe, Eastern Europe, Asia-Pacific excluding Japan, Japan and Middle East & Africa.
Billing and Revenue Management Market: Regional Outlook
Among all regions, billing and revenue management market in North America is expected to dominate the market, due to high preference for automating business process and presence of large players. Asia Pacific is projected to be the fastest growing billing and revenue management market due to expanding telecommunication, banking and financial sector.
Billing and Revenue Management Market: Competitive Landscape
Some of the prominent players in the global billing and revenue management market includes Oracle Corporation, SAP AG, Ericsson, Accenture, Estuate Inc., Netcracker, Information Technology Group (ITG), ARIA SYSTEMS, INC., Nokia, MBXR, and CSG International
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Key Developments:
In August 2017, Ericsson selected by Developing Telecoms Ltd – a Dominican Republic based mobile network operator company, in order to deploy its revenue management solutions
In July 2014, Iridium Communications Inc. and Oracle jointly announced that, Iridium Communications Inc. has completed the implementation of Oracle Communications Billing and Revenue Management solution.