Easily process subscription revenue and costs in your ERP system
In recent years, there has been a strong development within organizations where the classic business models of sales are changing. We see that end customers have an increasing need to purchase products and services on the basis of a subscription form. However, in order to be able to meet these developments in the market, parties must be able to offer their customers such new forms.
Do you also have the challenge that customers increasingly ask for services based on subscriptions but that it is difficult to process this in your ERP system? Do you want to know what the possibilities are to process these subscription forms in the right way? Then read on in this blog. There is now a solution and nowadays it is just in the standard of (your) ERP system Dynamics 365.
What is the Subscription Billing module?
Microsoft develops continue on their ERP and recently they have added a new functionality to Dynamics 365 Finance: Subscription Billing. Jeroen Huijsman, consultant at Focus Enterprise Solutions, tells more about it in this blog.
“Subscription Billing is a new module”, says Jeroen. “With this module you get the opportunity to use the pricing and invoicing options that were previously only available via the project module for your standard sales orders. The module is therefore very useful if you sell subscriptions to your customers. A relatively new rule is that you not only divide the turnover over the duration of the contract, but also the costs associated with the subscription.”
Until now, Microsoft did not have a suitable solution for this within Dynamics 365 Finance, but now it does with this Subscription Billing module. And this is now standard in Dynamics 365 Finance “The module is not ‘on’ by default, but we can help you to activate it. This new module offers our customers real possibilities.” according to Jeroen.
With this billing engine you can easily take care of your invoice layout, without having to do a lot of set-up in advance. Moreover, you can also easily meet the requirements of financial commitment.
Powerful solution – also for your businesses
Jeroen continues: “The solution sounds very simple, but is actually very powerful. Especially because the module intervenes on standard functionalities of Dynamics 365 Finance. With this billing engine you can easily take care of your invoice layout, without having to do a lot of set-up in advance. Moreover, you can also easily meet the requirements of financial commitment. This makes this solution easy to use for everyone, even if selling subscriptions is not your main business. If you only sell subscriptions, such as telecom companies, then there is a suitable additional solution, a more extensive version that you can also seamlessly link to your Dynamics 365 environment. Do you want to know more about this? Please contact us.
Subscription Billing in practice, what can I do with it?
“Focus Enterprise Solutions is currently implementing Subscription Billing at a tax consulting firm. They also offer their customers access to a database of relevant articles and this is in subscription form. For this they want to use the Subscription Billing module.
In addition, Subscription Billing is being further developed and new additions are being implemented every new version of Dynamics 365. “With the upcoming release in January, the previously created work-arounds can even be disabled. And because we have good contacts with the ISV partner who was at the cradle of this solution, we can quickly switch with them if necessary.”
With Subscription Billing you get a whole range of new functionalities that make it much easier for you to pass on subscription services to your customers. On January 18, 2023, we will organize a webinar and our expert Jeroen Huijsman will go deeper into this. In 30 to 45 minutes he addresses topics such as inflation correction (very important at the moment), but also about the management of current contracts and milestone invoicing. And you will see that thanks to this module you no longer have to work with crazy discounts for correct administration.
So sign up for this webinar*. Do that even if you can’t be there. We will send the recording of the webinar afterwards, so that you can watch it back at a time that suits you. Do you have a specific question that you would like to have answered during the webinar? Please indicate this on the registration form, and we will take this into account.
*This webinar is in Dutch, please let us know if you want to know more information in English.
Want to know more about Subscription Billing?
Do you want to know what possibilities Subscription Billing offers your organization? And don’t want to wait until the webinar? Please contact Eric van Bost. As an Account Manager, he is closely involved in the projects for Subscription Billing. Also if you are looking for a reliable party that can take care of the implementation of – or support on – Dynamics 365 for you , you have come to the right place.
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