IoT Reference Architecture
Companies are shifting from selling devices to building long-term service relationships with millions of consumers and businesses. Monetizing these relationships requires a solution that knows how to price, bill and recognize recurring revenue for complex hardware / software packages.
Web Store/Checkout: Display products and pricing information. Allow easily bundling of correlated offerings.
My Account: Display account summary and subscription data to support self-service account management on the web portal.
User Provisioning: Grants subscribers access to subscriptions based on entitlements.
Sales: Product catalog is exposed in the sales system so pricing and transactional (i.e., invoices, payments, refunds) information can be used to create subscription based opportunities and quotes.
Support / Service: Customer subscription, billing and payment history, renewal dates, and key subscriber metrics in the support / service system for complete visibility into the subscriber.
Service Event Management: Device notifies the billing engine when service is nearing expiration or has expired to trigger service billing events.
Usage: Billing Engine captures device on/off data to ensure analysis and billing of usage data.
Inventory Management: Inventory platform validates that the products & services being subscribed to in your billing engine are available.
Physical Delivery: Your billing engine manages user account information including shipping address enabling the shipment of hard goods.
Reverse Logistics: Once return logistics are handled, your billing engine is triggered to provide refunds
Warranty: Entitlement application or CRM stores subscriber entitlements to validate the purchase and terms of extended warranty on devices.
Tax jurisdiction, locale and line item pricing information are passed from the billing engine to the Tax Engine to calculate tax rates. The tax engine will return the rate amount to the billing engine for invoice presentment.
General Ledger: Integration between the billing engine and the GL system allows for either transaction level details or summary level journal entries to be sent to the G.
Gateways: Payment details are passed from the billing engine to the payment gateway(s) to process payments and the gateway returns success / failure details.
Get the Agility You Need
The advent of the Internet of Things (IoT) has brought about staggering new revenue opportunities. Capitalizing on these opportunities is vital to staying ahead of your competition and expanding your business in the future. LeadTo enables companies stay ahead of the curve and seize entirely new market segments through product iteration and new opportunity enablement.