The changing nature of the combination of subscription and usage based pricing are disrupting value chains and the monetization paradigm for businesses. Some new connected products require a whole new technology and monetization infrastructure. This new infrastructure provides a mechanism for data exchange between the product and the user and integrates data from business systems, external sources, and other related products.
Businesses need to find new ways to optimize revenues to not just stay afloat, but to thrive. A significant change in thinking about how they monetize and manage subscriber demands will require a new level of flexibility and agility in how they can respond to the surge of new pricing demands. This is where LogiSense can help. The LogiSense Billing platform allows businesses to unlock their marketing and sales organization’s ability to efficiently roll out new services that incorporate sophisticated subscriptions, real time service data pricing, bundling, sharing and tiering into a differentiated set of services faster than ever before.
While many billing systems handle basic subscription scenarios, the LogiSense system provides a highly differentiated value proposition that can help service providers monetize complex business models. The LogiSense Billing platform is based around 5 core tenets:
1) Scalabilty
LogiSense Billing has a distributed, multi-threaded architecture that can scale horizontally and vertically in a cloud environment. This allows it to handle millions of subscriptions and billing and rating of hundreds of millions of daily usage records across thousands of accounts and catalog offerings.
2) User Experience
In order to be profitable, businesses need to be able to offer unique differentiated experiences. LogiSense offers a flexible user interface that provides a great deal of versatility in creating new business offerings for monetization. Care has been taking to ensure that the additional flexibility does not come at the cost of usability.
3) Analytics
LogiSense provides a variety of descriptive and diagnostic analytics capabilities including a powerful reporting and dashboarding engine, alert mechanisms and cloud logging capabilities.
4) Complex Usage Rating
LogiSense Billing has a flexible and near real time usage rating engine that can rate usage events, anytime and anywhere. Simple and complex rate conditions can be configured to satisfy multiple business models. Usage data aggregation is performed via a sophisticated bucketing engine that enables you to deploy combinations of free and tiered usage offerings to the market for any type of product or service. Subscriptions can be created on the fly to personalize the experience of large enterprise customers who want more than what a simple stock SKU based catalog can provide.
5) Extensible Platform
LogiSense Billing is a true platform that can be extended via custom logic, workflows and screen extensions to solve complex business needs of the customer no matter how unique. In addition to this, the platform provides a rich set of APIs and events that facilitate easy integration with 3rd party systems.