Consolidated invoicing and billing are typically the outliers and don't get as much attention until they become painful issues in the organization. So what are the different variables that drive the consolidated processes? How many different types of consolidated invoicing processes exist? Does it vary by industry? Does it vary by product type? Are consolidated invoicing relevant for subscription-based products? If so, what are the data points that are relevant to capture to ensure that the consolidated invoicing is going to work? And what are the best practices you need to keep in mind while selecting your ERP system? Finally, what are the best practices that drive operational efficiency due to the consolidated invoicing processes? These are the questions you will have if your customers have asked you to incorporate consolidated invoicing with your processes?
In today's episode, we invited a panel of cross-functional experts for a live interview on LinkedIn who brings significant expertise to discuss how consolidated invoicing processes differ in several industries. We also discussed how larger customers and vendors typically drive the invoicing process and how they could be make-or-break for the system implementation. Finally, we discussed how revenue recognition, subscription billing, and continuous manufacturing can drive the consolidated invoicing scenarios that might be limiting even in the largest systems.
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