IoT Monetization Solutions: Unlock the Revenue Potential with EarnBill
Track every IoT device from manufacturer to dealer to end customer. Automate billing, manage subscriptions, and charge the right party at every stage of the device lifecycle.
What IoT Monetization Actually Involves
It goes well beyond billing. It's about tracking every device, every status change, and every ownership handoff across the entire distribution chain.
IoT monetization solutions help with tracking and billing all the IoT devices that are part of the IoT solution. The IoT platforms require that they get a clear picture of all their active IoT devices and which customer accounts are using them. It should be easy to track the inventory of the devices with their statuses and possible to sync the status of the IoT devices to the actual provisioning status on the telecom networks.
IoT Monetization solutions involve not only billing, rating, and charging to end customers. They also involve handling complex workflows that activate and deactivate IoT devices on carrier networks, and track device movement from the manufacturer to the wholesaler, to the reseller, and finally to the end customers. The platform needs to track each IoT device, its current user, its current status, and measure and charge its usage to the relevant party.
How EarnBill's IoT Monetization Solution Powers IoT Platforms
A single platform to handle inventory, billing, provisioning, and revenue. No matter how many devices you manage or how complex your distribution chain.
EarnBill's comprehensive inventory management, product catalogue, pricing models, subscription management and recurring billing solution with customised billing aspects make it easy to implement IoT billing solutions for IoT platforms.
The diagram below shows a real-world case study of how IoT-based OBD port devices are used in cars and trucks. New generation vehicles are fitted with OBD (On-board Diagnostics) devices that help in self-diagnostics and provide internet connectivity through the SIM card fitted inside the OBD device.
A Real-World IoT Billing Use Case
Understanding the OEM → Car Dealer → End Consumer flow and how EarnBill manages billing at every stage
OEM as a Customer
The OEM buys OBD devices from the IoT solution provider and gets a one-time fee (lump sum) for 2 years. After 2 years, the IoT provider tracks the movement of vehicles from OEM to dealers and consumers.
Car Dealer as a Customer
The agreement between each dealer and the IoT solution provider can be different. EarnBill manages each dealer's pricing and rating differently. Tracking blocks of OBD devices per dealer across multiple cities.
End Consumer as a Customer
When a consumer buys a car from the dealer, EarnBill tracks the device transfer and bills the end consumer directly. The platform tracks device & current owner, then generates and sends bills automatically.
EarnBill excels at tracking such complex billing use cases and manages each dealer's pricing and rating differently. This involves complex workflow tracking that also requires integration with other systems, all handled natively by EarnBill.
IoT Monetization Made Easy with EarnBill
EarnBill helps with billing and charging of complex billing workflows involved in IoT monetization. Here are the features that make IoT monetization that much more manageable.
Subscription Management
Track IoT platform subscription fees on a recurring basis. Monthly, quarterly, six-monthly, or annually. Supports multiple concurrent subscriptions for the same customer at different billing frequencies.
Learn moreRecurring Billing
Supports monthly anniversary billing as well as once-a-month billing. Some IoT platforms prefer daily billing cycles with a monthly anniversary invoice. EarnBill handles all of these combinations out of the box.
Learn moreIoT Inventory Management
For IoT platforms, tracking the inventory of IoT devices end-to-end with their statuses is crucial. EarnBill makes it easy to upload inventory, assign customized statuses, and manage the full device lifecycle from a single dashboard.
Network Provisioning
IoT devices need to be activated or deactivated on the carrier network. EarnBill provides easy interfaces for carrier integration. A new subscription can automatically trigger an activation event for the SIM inside the IoT device.
Usage-Based Billing
Some IoT platforms offer usage-based pricing plans. EarnBill handles usage rating and charging based on consumption levels. A set allowance is covered by the subscription fee; overages are charged automatically at defined rates.
Learn moreAutomated Payment Collection
EarnBill integrates with more than a dozen payment gateways. Credit cards, bank accounts, mobile wallets, and more. Fully PCI DSS compliant. Invoicing, payment collection, and reconciliation all run on autopilot.
Learn moreFinancial Reporting
Out-of-the-box reports for finance and accounting. Revenue tracking at the company, product, service, and account level. The ageing balances report tracks unpaid balances. Sales Tax ATO and Un-earned Revenue reports included.
Learn moreCustomer Account Hierarchy
Model the OEM → Dealer → End Consumer hierarchy natively in EarnBill. Bill at any level, set different pricing per dealer, and track device ownership through every handoff, all from a single platform.
Learn moreEach IoT solution will require some customization, but the core aspects of an IoT billing software are well covered out of the box by EarnBill.
Summary
What EarnBill's IoT monetization delivers end to end
EarnBill's IoT monetization is a well-rounded IoT billing solution that supports complex billing use cases, integration, event-based device status management, and complete end-to-end automation for revenue tracking and reporting. It is a flexible IoT billing software that can meet most of the complex billing requirements through configuration and is easy to customize to suit the needs of the IoT platform.
Ready to Transform Your IoT Monetization?
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