|By Esmeralda Swartz||
|February 4, 2014 09:45 AM EST||
When we first built our MetraNet billing platform our customers (large enterprises and service providers) generally offered services that were clearly defined in terms of character and scope, with fairly stable setup charges, usage charges, and periodic recurring charges. Back then, with some exceptions, it was normal to issue regular periodic invoices that consolidated all of those charges. The invoice would then trigger an entry in the service provider's Accounts Receivable (AR) ledger. That in turn, again with a few exceptions, would constitute the point at which Revenue Recognition would take place. The few exceptions (for example, an invoice for a payment in advance for a service set-up charge) would be handled by adding a matching journal entry in Deferred (or unearned) Revenue until such time as the services had been delivered. The adjustment could be handled automatically (triggered by a flag from order management or billing) or manually.
Things have moved on from there and the metadata driven character of MetraNet has enabled MetraNet to support new requirements fluidly and easily. A few years ago, we developed a capability to handle the increasingly more complex requirements of services-related AR. In discussions with customers on AR, it is becoming clear that the additional power and flexibility delivered by our approach to AR will no longer be an exceptional need - it will be an everyday requirement for most service providers.
I have written a lot recently about "Everything as a Service" (XaaS) and the closely linked concept of the "Internet of Things." These labels are helpful in crystallizing in our minds what has been going on for some time. We are observing changes on multiple fronts. Products and devices increasingly become tools for the delivery of services. Services can be delivered by Agents that interact with other Agents to deliver more complex service bundles, or strip out service components to recombine them with other components to create new services. It's conceivable that Cloud Service Brokers will evolve into brokerage networks, collecting and representing services for adaptation and resell in a way that compensates multiple contributors along the value chain. At the same time services providers have to do all this while continuing to operate, and be seen to operate, within the regulatory rules.
Periodic invoices just seem so slow for this kind of environment!
As invoicing becomes more flexible and more complex, the way we handle Accounts Receivables needs to keep up. MetraTech's AR solution (MetraARTM) abstracts accounting securely from the dynamic business modeling of the billing system and enables solid and auditable integration with our customers' accounting systems.
What is special about MetraTech's metadata-driven approach? For one thing, it provides a flexible and pragmatic way around the all-or-nothing choice usually available with traditional systems. The traditional approach forces a choice between Invoice Accounting and Line Item Accounting. Invoice Accounting doesn't provide sufficient granularity when reselling supplier services, selling or re-selling regulated services, or in any case where different parts of the invoice have varying contractual or legal demands for prioritization. On the other hand, Line Item Accounting becomes completely unwieldy and difficult to scale when used on enterprise accounts or for any high-volume, event-based service.
Within MetraAR we have built on our innovative patent-pending "Demand for Payment" (DfP) technology. This enables a service provider to select the most appropriate level of granularity for managing receivables. Rather than being forced into an all-or-nothing choice, a service provider can segment different components of the invoice into separate DfPs without having to go down to the line item detail. For example, perhaps you are reselling cloud services from different vendors. One vendor has a net 30-day contract with you and the other a net 45. You would want to distribute payment against the receivables associated with the Net 30 supplier, but you don't want to track the hundreds or thousands of line items that wound up on your channel partner's wholesale invoice. Instead you can group all the charges into a single Demand for Payment and manage that group as one entity.
It doesn't stop there. Each Demand for Payment can be further split as needed to handle partial payments, payments on account, disputes, and any other events that affect receivables. A single customer payment can be apportioned across multiple DfPs in whatever way is required.
The MetraNet billing platform already provides a complete and flexible system for handling subscriptions to the most complex accounts. With the added MetraAR functionality, we provide even more scope for handling those "exceptional" needs that are rapidly becoming normal everyday business. It is now even easier to set up custom payment plans, reassign and consolidate debt, and manage external debt. The use of DfPs enables Aging to be managed more accurately, with a range of aging algorithms that ensure that priority is given to the right accounts for collection and follow-up.
Our customers realize that today's increasing service complexity is best handled by an integrated complete solution for monetization, rather than a fragmented approach using separate point products. At the same time, the solution needs to work smoothly with financial accounting systems. The latest evolution of MetraNet with MetraAR does all this, and does so in a way that enables the service provider to introduce more complexity only where complexity is really needed, and to keep things simple where simple is the smarter way.
Cloud computing is being adopted in one form or another by 94% of enterprises today. Tens of billions of new devices are being connected to The Internet of Things. And Big Data is driving this bus. An exponential increase is expected in the amount of information being processed, managed, analyzed, and acted upon by enterprise IT. This amazing is not part of some distant future - it is happening today. One report shows a 650% increase in enterprise data by 2020. Other estimates are even higher....
Jun. 26, 2016 05:00 PM EDT Reads: 1,278
SYS-CON Events announced today that Bsquare has been named “Silver Sponsor” of SYS-CON's @ThingsExpo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. For more than two decades, Bsquare has helped its customers extract business value from a broad array of physical assets by making them intelligent, connecting them, and using the data they generate to optimize business processes.
Jun. 26, 2016 05:00 PM EDT Reads: 1,193
A strange thing is happening along the way to the Internet of Things, namely far too many devices to work with and manage. It has become clear that we'll need much higher efficiency user experiences that can allow us to more easily and scalably work with the thousands of devices that will soon be in each of our lives. Enter the conversational interface revolution, combining bots we can literally talk with, gesture to, and even direct with our thoughts, with embedded artificial intelligence, wh...
Jun. 26, 2016 04:30 PM EDT Reads: 914
Internet of @ThingsExpo, taking place November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA, is co-located with 19th Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading industry players in the world. The Internet of Things (IoT) is the most profound change in personal and enterprise IT since the creation of the Worldwide Web more than 20 years ago. All major researchers estimate there will be tens of billions devices - comp...
Jun. 26, 2016 04:00 PM EDT Reads: 1,230
19th Cloud Expo, taking place November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA, will feature technical sessions from a rock star conference faculty and the leading industry players in the world. Cloud computing is now being embraced by a majority of enterprises of all sizes. Yesterday's debate about public vs. private has transformed into the reality of hybrid cloud: a recent survey shows that 74% of enterprises have a hybrid cloud strategy. Meanwhile, 94% of enterpri...
Jun. 26, 2016 04:00 PM EDT Reads: 1,269
Connected devices and the industrial internet are growing exponentially every year with Cisco expecting 50 billion devices to be in operation by 2020. In this period of growth, location-based insights are becoming invaluable to many businesses as they adopt new connected technologies. Knowing when and where these devices connect from is critical for a number of scenarios in supply chain management, disaster management, emergency response, M2M, location marketing and more. In his session at @Th...
Jun. 26, 2016 03:00 PM EDT Reads: 932
It is one thing to build single industrial IoT applications, but what will it take to build the Smart Cities and truly society changing applications of the future? The technology won’t be the problem, it will be the number of parties that need to work together and be aligned in their motivation to succeed. In his Day 2 Keynote at @ThingsExpo, Henrik Kenani Dahlgren, Portfolio Marketing Manager at Ericsson, discussed how to plan to cooperate, partner, and form lasting all-star teams to change t...
Jun. 26, 2016 02:00 PM EDT Reads: 1,120
The cloud market growth today is largely in public clouds. While there is a lot of spend in IT departments in virtualization, these aren’t yet translating into a true “cloud” experience within the enterprise. What is stopping the growth of the “private cloud” market? In his general session at 18th Cloud Expo, Nara Rajagopalan, CEO of Accelerite, explored the challenges in deploying, managing, and getting adoption for a private cloud within an enterprise. What are the key differences between wh...
Jun. 26, 2016 01:00 PM EDT Reads: 747
The 19th International Cloud Expo has announced that its Call for Papers is open. Cloud Expo, to be held November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA, brings together Cloud Computing, Big Data, Internet of Things, DevOps, Digital Transformation, Microservices and WebRTC to one location. With cloud computing driving a higher percentage of enterprise IT budgets every year, it becomes increasingly important to plant your flag in this fast-expanding business opportuni...
Jun. 26, 2016 12:00 PM EDT Reads: 1,275
Internet of @ThingsExpo, taking place November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA, is co-located with the 19th International Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading industry players in the world and ThingsExpo Silicon Valley Call for Papers is now open.
Jun. 26, 2016 12:00 PM EDT Reads: 1,097
There is little doubt that Big Data solutions will have an increasing role in the Enterprise IT mainstream over time. Big Data at Cloud Expo - to be held November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA - has announced its Call for Papers is open. Cloud computing is being adopted in one form or another by 94% of enterprises today. Tens of billions of new devices are being connected to The Internet of Things. And Big Data is driving this bus. An exponential increase is...
Jun. 26, 2016 12:00 PM EDT Reads: 1,330
In his general session at 18th Cloud Expo, Lee Atchison, Principal Cloud Architect and Advocate at New Relic, discussed cloud as a ‘better data center’ and how it adds new capacity (faster) and improves application availability (redundancy). The cloud is a ‘Dynamic Tool for Dynamic Apps’ and resource allocation is an integral part of your application architecture, so use only the resources you need and allocate /de-allocate resources on the fly.
Jun. 26, 2016 12:00 PM EDT Reads: 1,062
In his keynote at 18th Cloud Expo, Andrew Keys, Co-Founder of ConsenSys Enterprise, provided an overview of the evolution of the Internet and the Database and the future of their combination – the Blockchain. Andrew Keys is Co-Founder of ConsenSys Enterprise. He comes to ConsenSys Enterprise with capital markets, technology and entrepreneurial experience. Previously, he worked for UBS investment bank in equities analysis. Later, he was responsible for the creation and distribution of life sett...
Jun. 26, 2016 11:00 AM EDT Reads: 1,059
Machine Learning helps make complex systems more efficient. By applying advanced Machine Learning techniques such as Cognitive Fingerprinting, wind project operators can utilize these tools to learn from collected data, detect regular patterns, and optimize their own operations. In his session at 18th Cloud Expo, Stuart Gillen, Director of Business Development at SparkCognition, discussed how research has demonstrated the value of Machine Learning in delivering next generation analytics to imp...
Jun. 26, 2016 09:45 AM EDT Reads: 580
There are several IoTs: the Industrial Internet, Consumer Wearables, Wearables and Healthcare, Supply Chains, and the movement toward Smart Grids, Cities, Regions, and Nations. There are competing communications standards every step of the way, a bewildering array of sensors and devices, and an entire world of competing data analytics platforms. To some this appears to be chaos. In this power panel at @ThingsExpo, moderated by Conference Chair Roger Strukhoff, Bradley Holt, Developer Advocate a...
Jun. 26, 2016 08:45 AM EDT Reads: 722
Cognitive Computing is becoming the foundation for a new generation of solutions that have the potential to transform business. Unlike traditional approaches to building solutions, a cognitive computing approach allows the data to help determine the way applications are designed. This contrasts with conventional software development that begins with defining logic based on the current way a business operates. In her session at 18th Cloud Expo, Judith S. Hurwitz, President and CEO of Hurwitz & ...
Jun. 25, 2016 03:00 PM EDT Reads: 1,581
SYS-CON Events announced today that ReadyTalk, a leading provider of online conferencing and webinar services, has been named Vendor Presentation Sponsor at the 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. ReadyTalk delivers audio and web conferencing services that inspire collaboration and enable the Future of Work for today’s increasingly digital and mobile workforce. By combining intuitive, innovative tec...
Jun. 24, 2016 01:00 PM EDT Reads: 1,343
Amazon has gradually rolled out parts of its IoT offerings, but these are just the tip of the iceberg. In addition to optimizing their backend AWS offerings, Amazon is laying the ground work to be a major force in IoT - especially in the connected home and office. In his session at @ThingsExpo, Chris Kocher, founder and managing director of Grey Heron, explained how Amazon is extending its reach to become a major force in IoT by building on its dominant cloud IoT platform, its Dash Button strat...
Jun. 24, 2016 12:00 PM EDT Reads: 1,622
industrial company for a multi-year contract initially valued at over $4.0 million. In addition to DataV software, Bsquare will also provide comprehensive systems integration, support and maintenance services. DataV leverages advanced data analytics, predictive reasoning, data-driven diagnostics, and automated orchestration of remediation actions in order to improve asset uptime while reducing service and warranty costs.
Jun. 22, 2016 11:00 AM EDT Reads: 1,366
Vidyo, Inc., has joined the Alliance for Open Media. The Alliance for Open Media is a non-profit organization working to define and develop media technologies that address the need for an open standard for video compression and delivery over the web. As a member of the Alliance, Vidyo will collaborate with industry leaders in pursuit of an open and royalty-free AOMedia Video codec, AV1. Vidyo’s contributions to the organization will bring to bear its long history of expertise in codec technolo...
Jun. 19, 2016 12:45 PM EDT Reads: 1,263