Insight: How better billing can surprise and delight customers in 2025

Sub-optimal revenue management practices could derail efforts to deliver a standout customer experience.

Ask any Australian business owner or leader what they’ll be focusing on in the new year and, chances are, customer experience will be right up there at the top of the list.

That’s because meeting and exceeding customer expectations has become a mantra for businesses of all stripes and sizes, in this country and around the world.

It needs to be because today’s buyers set the bar high. A quality, well-priced offering is no longer sufficient to secure their custom and repeat business.

The majority of buyers, both consumer and commercial, expect and demand personalised, responsive service too and they won’t hesitate to take their money elsewhere should it fail to materialise.

Upping the investment in CX

It’s a megatrend that, in recent years, has seen companies drop big bucks on programs and initiatives to foster engagement, connection and trust with their customers.

Those serious about maintaining mind and market share will need to keep on doing so, according to PwC.

‘Maintaining a strong focus on CX is vital for retention, especially during economic downturns,’ the firm’s 2025 Service Centre Trends Report notes.

‘…Executives often blame customer loss on price, but the primary reason is poor experience. A single poor experience drives away 37% of customers, with this figure rising to 73% after multiple bad experiences, especially among younger generations. Organisations must maintain a relentless focus on customer experience and use automatic tools and feedback loops to quickly address service quality declines and prevent customer attrition.’

The neglected touchpoint

In today’s digital era, there are numerous opportunities for businesses to connect with their customers throughout the customer lifecycle – think website, social media presence and aftersales service interactions, to name a few. But while marketing and CX leaders may be assiduous about optimising these obvious touchpoints, there’s another one that tends to be overlooked: billing.

Historically, it’s been viewed as a back office function – something only the suits in finance and techies in the ICT team need to concern themselves with – but, in reality, it’s anything but. There are few surer ways to alienate an otherwise satisfied customer than by providing them with a bad billing experience.

Whether it’s having what they owe calculated incorrectly, being charged twice for the same thing or not getting a bill at all one month and copping a zinger the next, consumers and businesses have a low tolerance for suppliers that aren’t able to master what they perceive to be one of the most basic aspects of running a commercial enterprise.

Hence, those who get it wrong can expect to see their churn rate increase apace, with some customers liable to give their suppliers the flick after even a single instance of sub-standard billing.

Investing in a billing solution that spearheads customer success

Adopting the latest generation revenue management technology can make it easier to deliver a stellar billing experience; one that doesn’t leave your customers questioning the integrity and professionalism of your organisation.

Implement a cloud-based platform that offers full quote to cash lifecycle support for whatever monetisation model you have in place and you’ll be able to generate accurate, up-to-the-minute bills, and get them out to your customers on time, every time.

If you select a solution that integrates seamlessly with your CRM system and incorporates an AI-driven data analytics function, your team will be able to maintain a bird's-eye view of your customer base and generate actionable insights that can help you optimise your product or service offering.

Keeping the customer satisfied in 2025

With the Australian economy stuck in the doldrums – Deloitte Access Economics has predicted we’ll see economic growth of just 1.2 per cent in FY2024–25 and 1.9 per cent in FY2025–26 – local businesses will find maintaining turnover and profitability a challenge in the upcoming year.

Against this backdrop, delivering a universally excellent customer experience will be essential for those who are intent on retaining current customers and securing new ones.

Deploying an AI-driven revenue management platform will ensure your business doesn’t lose mind and market share to its competitors because of bad billing practices. If you’re serious about staying in the game in 2025, it’s enabling technology that needs to be in your ICT stack.

By Carl Warwick, regional sales director Asia-Pacific and Japan, BillingPlatform