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SMBs can benefit from activity-based billing solutions for their customers

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Small business owners are constantly looking for ways to remain competitive in the marketplace and keep expanding their customer base. This is why a recent whitepaper written by market research consultancy iGR said businesses should consider using activity-based billing, which gives SMBs the ability to retain customers by offering an alternative billing model, while also increasing its own revenue stream.

A few reasons why SMBs should consider using activity-based billing include the ability to take on large amounts of customers at once, gaining a leg up on competing firms and improving their current business models.

"Companies assessing their own business models and supporting systems should certainly consider activity-based billing," said Iain Gillott, president and founder of iGR. "With the right tools and an accessible solution - perhaps in a cloud-based environment - an SMB could experience greater flexibility, accuracy and reliability in how they track accounts."

Activity-based billing gives SMBs the ability to be more flexible when receiving payments from customers, but these agreements are also more complex than a typical contract. Seeking protection from firms that fail to pay as they go is available through small business insurance policies.

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