Did you like the workflow we shared on a billing process?
You can build one for your client, or improve the one you already have. This will also help in identifying improvements for your process.
Some other processes attached to the billing process may be really critical to your client. Though I have seen a lot of clients keep these to themselves, however I have worked with clients who outsource or move these processes also to a shared service unit.
- Billing and revenue allocation
- Revenue recognition
- Inter unit transfers and allocations
- Credit note generation
- Sales commission handling
The first two activities quite often are very critical for a unit’s financial health perspective. As organizations grow larger, they aim at each of their units to become self sufficient. A number of sales orders may be a result of combined efforts. A proper allocation of the credits to various units / sales personnel may be in order, to keep the motivation high and to encourage combined efforts for large to very large deals.
I will talk of revenue recognition in the next post.
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