In an industry that enjoys fierce competition, where cost is king and the commoditisation of connectivity services are driving end-user pricing as low as possible, resellers need to squeeze every penny out of their margins to secure stable, long-term commercial success.
Having created ZOEY after running their own reseller operation and struggling with the billing solutions available, Tekton’s founders know this particular challenge all too well, building the billing platform to help maximise margins and generally, make the lives of resellers easier.
Even if you’ve never experienced the benefits of ZOEY’s margin analysis suite and flexible tariffing, here are a few tips that can help you get the most revenue out of your services.
Discover ZOEY’s self-serve functionality here
Leveraging bundled data
One major method of optimising margins is through buying group data bundles from your network suppliers, then re-bundling them for individual end-customer accounts. There’s a major win in economies of scale here, as it’s unlikely that all end-customers will max-out all their bundles at the same time.
This means the sum of the individual bundles do not necessarily have to equal the purchased group bundle, reducing your outgoing costs dramatically. However, it’s important to note that your customers will expect to have their full quantity of data usage available, no matter what. This means you need to accurately predict your customers’ usage to ensure you don’t under-provision.
ZOEY enables the re-bundling of data packages to your end customers, separate from any purchased arrangements between the reseller and the supplier. Plus, ZOEY’s in-depth reporting capabilities ensure bundle allocations can be optimised based on actual consumption data, preventing disparities between a customer’s purchased and available data allowances.
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Fixed charge reconciliation
As the age old saying goes ‘No one’s perfect’ and human error, whether due to a distracted employee or a wayward keystroke, can easily lead to missed charges that can easily be overlooked when setting up new accounts for example, leading to missing revenue.
To prevent this, performing regular reconciliation of fixed and subscription charges helps you capture services which may have been provisioned with the supplier, but not added to the end-user’s invoice. As best practice, it’s also worth checking any existing billed services which may have changed particulars (quantity, tariff, etc) but haven’t been updated in the billing system.
If you have any international customers, or those that regularly make international calls, one way to maximise their margins is by making use of charging increments (i.e. calling rates rounded to the nearest minute, rather than per second).
This can be achieved via destination-based rating, where strongly defined rates like UK National can remain on per second billing, but perhaps commonly called international rates can be rounded to the nearest minute to provide juicier margins.
However, it’s important to note that before harnessing the potentials of charging increments, you’ll need to double-check your T&Cs, and possibly amend them, to ensure that this practice is explained, and that the rounding of calling rates is clearly described to prevent customer complaints in the future!
If your current billing platform doesn’t allow you to take advantage of these tricks, maybe it’s time you look elsewhere. ZOEY was designed from the ground up to provide forward-thinking resellers with tools that maximise your potential revenue and scale as your customer base grows.
Don’t hesitate to get in touch if you’d like to learn more about ZOEY, or even if you’d like a couple of extra tips to increase your income.