Analysts are naming billing as the next cloud-based all-star evidenced by a recent report which predicts that the cloud billing market will grow from a $2.4 billion business in 2012 to nearly $9.6 billion in 2018 at a compound annual growth rate (CAGR) of almost 32 percent, according to MarketsandMarkets’ new report.Increases in business agility and cost control measures are said to be the two main drivers in the cloud billing market. According to the research firm, the adoption of these solutions is mainly due to concerns of data loss and third-party dependence, which will only increase as the demand for automated billing increases. Also, as businesses begin to recognize the impact that billing processes have on customer satisfaction, they plan on implementing cloud-based billing to improve flexibility, making it easier and more efficient for users.

Besides improved customer service, cloud-based billing offers many advantages – for example, increased visibility during the charging and billing process, greater scalability and flexibility, reduction in errors, improved security and data protection, cost savings, lower operational costs and more.

While others see cloud-based billing as something new, GLDS has been offering it for close to a decade, and almost a third of all GLDS customers access WinCable via the cloud.  Click here to learn more about moving your billing to the cloud.