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Cloud Billing Market [By Solution (Billing of Cloud Services, Billing Services on Cloud), By Delivery (SaaS, PaaS, IaaS), By Users (SMB, Enterprises)]: Global Advancements, Market Forecasts & Analysis (2013-2018) Cloud billing refers to billing solutions for digital as well as non-digital services. The flexibility of using cloud services such as Software as a Service (SaaS), Platform as a Service (PaaS) and Infrastructure as a Service (IaaS) anytime and anywhere has created business opportunities across various verticals but at the same time proper monetization of these services is critical so as to avoid revenue leakage and sustain through the intense competition. The billing solutions on the cloud provide organizations with several advantages including increased transparency in the charging and billing processes, virtualized workplaces, flexibility to up-scale with increase in customers, and simplified operations along with accelerated performance.
As businesses realize the impact of billing processes on customer satisfaction and retention, and partner relationships they intent to deliver greater flexibility to customers by deploying cost effective billing processes. While organizations across the verticals look forward to integrate the cloud billing solutions into their mainstream work scenarios, the billing solution providers aim to gain competitive advantage in the emerging market by designing feature rich solutions and better visibility by undertaking innovative marketing strategies such as referral programs and free trials.MarketsandMarkets believes that the need to increase business agility, along with cost control measures is playing a key role in embodying the cloud billing market. Though the adoption of these solutions is gradual due to concerns of loss of data and third party dependence, these solutions are expected to experience a tremendous growth, owing to the evolution of cloud and growing demand for automation of billing processes as a result of pricing intricacies. The assimilation of cloud billing solutions within the existing organizational framework will further amplify the growth of businesses by embedding best practices for consistency and accuracy of operations.