Varibill is a billing and revenue management tool designed for providers of usage-based products and services. It is the only platform that collects data from different sources and integrates it with a company’s accounting system without relying on the user to manually record this.
This fintech solution allows companies to produce accurate, timely invoices; increase agility; reduce revenue leakage; and improve their profitability. It addresses the issue of time-consuming and inaccurate billing that many continue to deal with.
Regarding the inspiration behind this solution, Leon Kelder, its founder and Managing Director says: “It all started many years ago when we realised that in the diverse world of IT services where there are so many products and services put together, to offer a single solution for billing was restrictive and caused tremendous problems.” In most instances, companies that offer a variety of services struggle to find a custom solution that is accurate and invoices clients on time. This problem results in revenue leakage, erroneous invoicing, and valuable time wasted in manual intervention.
“The need was born out of our technology business when we experienced issues with billing for our services. We started developing the software in-house and it has grown ever since,” explained Kelder.
With the use of IOT-based services, it is easier to adapt to a usage-based billing method. IOT devices are able to take data on usage-based tick marks and clearly establish how much a service or device is being used.
“Information is not scarce anymore. IOT platforms have a lot of data and we can use it to accurately bill, increase revenue, and justify how a business charges,” said Kelder.
Speaking about plans for the company, Kelder said, “Varibill has an absolute space on the world stage, we know that this billing problem exists and we have landed our first two orders in the United Kingdom and the USA. The plan is to be locally dominant and then expand into the worldwide arena as a proudly South African and home-grown company.”