Summary Results | January 2019 Approaches to

Transcript:Summary Results | January 2019 Approaches to:
Summary Results | January 2019 Approaches to Subscription Billing Sponsored by Survey Summary Between August and October, 2018, Gatepoint Research invited selected executives to participate in a survey themed Approaches to Subscription Billing. Candidates were invited via email and 100 executives have participated to date. Management levels represented are predominantly senior decision makers: 6% hold the title CxO, 37% are VPs, 56% are Directors, and 1% are Managers. Survey participants represent firms from a wide variety of industries including business and consumer services, financial services, healthcare, media, manufacturing (primary and high tech), public administration, retail and wholesale trade, telecom services, and transportation. Responders work for firms with a wide range of revenue levels: 23% work in Fortune 1000 companies with revenues over $1.5 billion; 13% work in Large firms whose revenues are between $500 million and $1.5 billion; 11% work in Mid-Market firms with $250 million to $500 million in revenues; 53% work in Small companies with less than $250 million in revenues. 100% of responders participated voluntarily; none were engaged using telemarketing. Executive Overview As leading organizations make the shift to selling everything as-a-service, they are discovering that their legacy approach to billing is holding them back. Outdated systems built to bill one-time product purchases and services can’t keep pace with the scalability and increasing flexibility required for subscription and recurring billing. What are companies doing to modernize their billing platforms and lay the groundwork for success in monetizing new business models? This survey asks respondents to report: What type of billing system is currently in use, and do they have more than one? Are they troubled by the limitations of their current billing platform? What are the challenges they face? Can their billing system keep up with product innovation? Are they able to view lifecycle billing, subscription, discount and loyalty details real-time? What’s on their wish list of billing platform functionality? Are they considering an update to their billing platform? How many billing systems do you operate and maintain? Nearly half of executives surveyed are juggling multiple billing systems, increasing the likelihood of both risk and cost while hampering the insights gained by a more unified customer view. What type of system do you use for billing? Choose all that apply. 52% of respondents still rely on ERP-based billing, and nearly as many rely on spreadsheets, manual systems, and/or built their own system. Less than a third have