SAP is parent company to a slew of B2B technological solutions, but the company continues to expand its product offering. On Thursday (April 30), SAP announced the revamping of its digital billing solution for small businesses under its solutions for customer engagement and commerce suite.
According to an announcement by the company, its SAP Billing and Revenue Innovation Management tool has been renamed hybris. The solution aims to promote businesses’ decisions to digitize and automate their models in an effort to gain a stronger competitive edge in the market.
“In our evaluation of the billing management market, SAP hybris Billing stands apart from the competition as a solution that can scale to handle any organization’s financial transactions through a simple interface and addresses all aspects of billing, including dual or multi-sided revenue streams,” said Andrew Dailey, managing director of MG Research, which recently assessed SAP’s billing solution.
The hybris e-billing solution, SAP said, is crucial to this shift, offering an end-to-end service that can integrate into businesses’ existing customer management and commerce portfolio units. The tool supports both subscription- and usage-based billing models, loyalty program development, and greater cash flow visibility. The solution accepts credit, prepaid and hybrid payment methods, the company said.
Hybris additionally automates many aspects of the billing process, including credit management, payment handling and collections.
According to the vice president of SAP’s Solution Strategy, Customer Engagement and Commerce, Fergus O’Reilly, the e-billing tool aims to provide businesses with the capabilities of operating in an omnichannel market.
“Industries like telecommunications, media and entertainment are thriving in the hyper-connected world as they continue to introduce creative offerings for which customers pay recurring, one-off or metered fees to consumer their services,” he said in a statement. “However, as additional industries follow suit across B2C and B2B segments, they will discover that their existing systems are not capable of supporting these new and innovative subscription-based offerings.”
Hybris, he added, provides businesses with this capability.
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