|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 delivers on-demand resources that provide businesses with flexibility and cost-savings. The challenge in moving workloads to the cloud has been the cost and complexity of ensuring the initial and ongoing security and regulatory (PCI, HIPAA, FFIEC) compliance across private and public clouds. Manual security compliance is slow, prone to human error, and represents over 50% of the cost of managing cloud applications. Determining how to automate cloud security compliance is critical to maintaining positive ROI. Raxak Protect is an automated security compliance SaaS platform and ma...
Nov. 26, 2015 04:00 PM EST Reads: 368
The cloud. Like a comic book superhero, there seems to be no problem it can’t fix or cost it can’t slash. Yet making the transition is not always easy and production environments are still largely on premise. Taking some practical and sensible steps to reduce risk can also help provide a basis for a successful cloud transition. A plethora of surveys from the likes of IDG and Gartner show that more than 70 percent of enterprises have deployed at least one or more cloud application or workload. Yet a closer inspection at the data reveals less than half of these cloud projects involve production...
Nov. 26, 2015 03:30 PM EST Reads: 437
Internet of @ThingsExpo, taking place June 7-9, 2016 at Javits Center, New York City and Nov 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA, is co-located with the 18th International @CloudExpo and will feature technical sessions from a rock star conference faculty and the leading industry players in the world and ThingsExpo New York Call for Papers is now open.
Nov. 26, 2015 03:30 PM EST Reads: 519
With major technology companies and startups seriously embracing IoT strategies, now is the perfect time to attend @ThingsExpo 2016 in New York and Silicon Valley. Learn what is going on, contribute to the discussions, and ensure that your enterprise is as "IoT-Ready" as it can be! Internet of @ThingsExpo, taking place Nov 3-5, 2015, at the Santa Clara Convention Center in Santa Clara, CA, is co-located with 17th 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 cha...
Nov. 26, 2015 03:15 PM EST Reads: 512
We are rapidly moving to a brave new world of interconnected smart homes, cars, offices and factories known as the Internet of Things (IoT). Sensors and monitoring devices will touch every part of our lives. Let's take a closer look at the Internet of Things. The Internet of Things is a worldwide network of objects and devices connected to the Internet. They are electronics, sensors, software and more. These objects connect to the Internet and can be controlled remotely via apps and programs. Because they can be accessed via the Internet, these devices create a tremendous opportunity to inte...
Nov. 26, 2015 02:15 PM EST Reads: 494
Today air travel is a minefield of delays, hassles and customer disappointment. Airlines struggle to revitalize the experience. GE and M2Mi will demonstrate practical examples of how IoT solutions are helping airlines bring back personalization, reduce trip time and improve reliability. In their session at @ThingsExpo, Shyam Varan Nath, Principal Architect with GE, and Dr. Sarah Cooper, M2Mi’s VP Business Development and Engineering, explored the IoT cloud-based platform technologies driving this change including privacy controls, data transparency and integration of real time context with p...
Nov. 26, 2015 01:00 PM EST Reads: 386
We all know that data growth is exploding and storage budgets are shrinking. Instead of showing you charts on about how much data there is, in his General Session at 17th Cloud Expo, Scott Cleland, Senior Director of Product Marketing at HGST, showed how to capture all of your data in one place. After you have your data under control, you can then analyze it in one place, saving time and resources.
Nov. 26, 2015 12:00 PM EST Reads: 144
The Internet of Things (IoT) is growing rapidly by extending current technologies, products and networks. By 2020, Cisco estimates there will be 50 billion connected devices. Gartner has forecast revenues of over $300 billion, just to IoT suppliers. Now is the time to figure out how you’ll make money – not just create innovative products. With hundreds of new products and companies jumping into the IoT fray every month, there’s no shortage of innovation. Despite this, McKinsey/VisionMobile data shows "less than 10 percent of IoT developers are making enough to support a reasonably sized team....
Nov. 26, 2015 11:00 AM EST Reads: 441
Just over a week ago I received a long and loud sustained applause for a presentation I delivered at this year’s Cloud Expo in Santa Clara. I was extremely pleased with the turnout and had some very good conversations with many of the attendees. Over the next few days I had many more meaningful conversations and was not only happy with the results but also learned a few new things. Here is everything I learned in those three days distilled into three short points.
Nov. 26, 2015 10:00 AM EST Reads: 283
DevOps is about increasing efficiency, but nothing is more inefficient than building the same application twice. However, this is a routine occurrence with enterprise applications that need both a rich desktop web interface and strong mobile support. With recent technological advances from Isomorphic Software and others, rich desktop and tuned mobile experiences can now be created with a single codebase – without compromising functionality, performance or usability. In his session at DevOps Summit, Charles Kendrick, CTO and Chief Architect at Isomorphic Software, demonstrated examples of com...
Nov. 26, 2015 09:45 AM EST Reads: 365
As organizations realize the scope of the Internet of Things, gaining key insights from Big Data, through the use of advanced analytics, becomes crucial. However, IoT also creates the need for petabyte scale storage of data from millions of devices. A new type of Storage is required which seamlessly integrates robust data analytics with massive scale. These storage systems will act as “smart systems” provide in-place analytics that speed discovery and enable businesses to quickly derive meaningful and actionable insights. In his session at @ThingsExpo, Paul Turner, Chief Marketing Officer at...
Nov. 26, 2015 09:30 AM EST Reads: 371
In his keynote at @ThingsExpo, Chris Matthieu, Director of IoT Engineering at Citrix and co-founder and CTO of Octoblu, focused on building an IoT platform and company. He provided a behind-the-scenes look at Octoblu’s platform, business, and pivots along the way (including the Citrix acquisition of Octoblu).
Nov. 26, 2015 09:00 AM EST Reads: 475
In his General Session at 17th Cloud Expo, Bruce Swann, Senior Product Marketing Manager for Adobe Campaign, explored the key ingredients of cross-channel marketing in a digital world. Learn how the Adobe Marketing Cloud can help marketers embrace opportunities for personalized, relevant and real-time customer engagement across offline (direct mail, point of sale, call center) and digital (email, website, SMS, mobile apps, social networks, connected objects).
Nov. 26, 2015 08:45 AM EST Reads: 265
The Internet of Everything is re-shaping technology trends–moving away from “request/response” architecture to an “always-on” Streaming Web where data is in constant motion and secure, reliable communication is an absolute necessity. As more and more THINGS go online, the challenges that developers will need to address will only increase exponentially. In his session at @ThingsExpo, Todd Greene, Founder & CEO of PubNub, exploreed the current state of IoT connectivity and review key trends and technology requirements that will drive the Internet of Things from hype to reality.
Nov. 26, 2015 06:45 AM EST Reads: 401
Two weeks ago (November 3-5), I attended the Cloud Expo Silicon Valley as a speaker, where I presented on the security and privacy due diligence requirements for cloud solutions. Cloud security is a topical issue for every CIO, CISO, and technology buyer. Decision-makers are always looking for insights on how to mitigate the security risks of implementing and using cloud solutions. Based on the presentation topics covered at the conference, as well as the general discussions heard between sessions, I wanted to share some of my observations on emerging trends. As cyber security serves as a fou...
Nov. 26, 2015 06:15 AM EST Reads: 300
Continuous processes around the development and deployment of applications are both impacted by -- and a benefit to -- the Internet of Things trend. To help better understand the relationship between DevOps and a plethora of new end-devices and data please welcome Gary Gruver, consultant, author and a former IT executive who has led many large-scale IT transformation projects, and John Jeremiah, Technology Evangelist at Hewlett Packard Enterprise (HPE), on Twitter at @j_jeremiah. The discussion is moderated by me, Dana Gardner, Principal Analyst at Interarbor Solutions.
Nov. 26, 2015 03:45 AM EST Reads: 693
Too often with compelling new technologies market participants become overly enamored with that attractiveness of the technology and neglect underlying business drivers. This tendency, what some call the “newest shiny object syndrome” is understandable given that virtually all of us are heavily engaged in technology. But it is also mistaken. Without concrete business cases driving its deployment, IoT, like many other technologies before it, will fade into obscurity.
Nov. 26, 2015 03:00 AM EST Reads: 309
With all the incredible momentum behind the Internet of Things (IoT) industry, it is easy to forget that not a single CEO wakes up and wonders if “my IoT is broken.” What they wonder is if they are making the right decisions to do all they can to increase revenue, decrease costs, and improve customer experience – effectively the same challenges they have always had in growing their business. The exciting thing about the IoT industry is now these decisions can be better, faster, and smarter. Now all corporate assets – people, objects, and spaces – can share information about themselves and thei...
Nov. 26, 2015 02:00 AM EST Reads: 195
The Internet of Things is clearly many things: data collection and analytics, wearables, Smart Grids and Smart Cities, the Industrial Internet, and more. Cool platforms like Arduino, Raspberry Pi, Intel's Galileo and Edison, and a diverse world of sensors are making the IoT a great toy box for developers in all these areas. In this Power Panel at @ThingsExpo, moderated by Conference Chair Roger Strukhoff, panelists discussed what things are the most important, which will have the most profound effect on the world, and what should we expect to see over the next couple of years.
Nov. 26, 2015 01:30 AM EST Reads: 438
Growth hacking is common for startups to make unheard-of progress in building their business. Career Hacks can help Geek Girls and those who support them (yes, that's you too, Dad!) to excel in this typically male-dominated world. Get ready to learn the facts: Is there a bias against women in the tech / developer communities? Why are women 50% of the workforce, but hold only 24% of the STEM or IT positions? Some beginnings of what to do about it! In her Day 2 Keynote at 17th Cloud Expo, Sandy Carter, IBM General Manager Cloud Ecosystem and Developers, and a Social Business Evangelist, wil...
Nov. 26, 2015 12:00 AM EST Reads: 532