All you need to know about interworks.cloud and the cloud industry
Are you considering becoming a Microsoft Cloud Service Provider, but have questions about the billing process? In our last post, we explored what you should ask when choosing a Microsoft csp billing platform for your Microsoft CSP business.
Here are questions 6 to 10:
Effective taxation is one of the challenges of digitalization. When customers are in different states and countries, different taxes may apply—and if you miss taxing accurately, you risk tax evasion penalties.
One of the key features of an effective microsoft csp billing platform is the ability to define and manage taxation. With the interworks.cloud platform, you can pinpoint which of your products require taxes and calculate them according to the customer’s location. The platform supports country-specific taxes, like the EU VAT rules. You can also define tax exemptions for customers. Some things you can do with the interworks.cloud platform’s taxation module:
● Defining tax rules: Define the applicable tax according to location and type of product. Since there will be different taxes in different states or countries, the taxation module allows you to define state, federal, or country tax rates.
● Establishing exceptions: Suppose a product is exempted from taxes in a certain state or city. You can add the exception to your tax rules using the tax module on the platform.
● Applying VAT for EU customers: If you are located in the EU, you can validate your customer’s VAT information automatically from inside the platform. The interworks.cloud system checks the validity of your customer’s VAT number at the moment of registration.
● Automating US taxation rules: Setting taxation rules for US customers can be tricky with all the different local and federal taxes. Therefore, choose a platform that can automate transaction tax calculations and tax filing. interworks.cloud has partnered with Avalara AvaTax, a cloud-based solution specifically designed for US taxes.
When you move to a new platform, it is important to know it will work with your existing software. According to a study by McKinsey, about 70% of digital transformation projects fail—and a lack of integration is one of the top reasons.
Poor integration can have disastrous consequences, since it creates inefficiencies, slows down processes, and doesn’t provide a clear picture of your business performance.
The interworks.cloud platform provides an integration framework that syncs with the third-party systems in place. The framework integrates with any system that supports RESTful APIs, therefore connecting with CRM, ticketing, or ERP systems. Some examples of integrations include Zendesk, Intuit, and Microsoft Dynamics.
You can learn more about how the interworks.cloud framework works for integrations here.
Running a globalized operation means processing transactions for international customers. This requires multiple payment options as well as multiple currencies. You need a platform that allows you to bill your customers in their own currency.
With the interworks.cloud platform, you can set up the currencies you want to support. It has the advantage of setting a default currency for the company, as well as listing the other currencies and their exchange rates.
You can also set a product’s price in multiple currencies with different billing cycles, terms, and conditions for every currency. Finally, you can create price lists in multiple currencies, with a different list available for each.
Another feature to consider is the ability to create accounts with a specific currency. Let’s say you have a customer in Australia who needs billing in AUD. You can set their account in AUD from the start, so when the customer accesses your storefront, the prices will be displayed in that currency. This feature also allows you to segment your customers geographically, offering different products according to their currency and location.
Reporting is one of the key features of a good business platform. Accurate reporting leads to keen analytic insights which, in turn, improves performance. The interworks.cloud platform automatically generates reports, saving you time and effort.
The platform also improves collaboration by allowing workers to access reports in real-time. Access to the dashboards can be shared to analyze information, collaborate, and export reports.
Working in the CSP business requires building lasting relationships with your customers. When providing subscriptions and different billing cycles, you need to control your customers’ credit limit features. This allows you to segment your customers according to different pricing tiers.
The interworks.cloud platform enables you to apply credit limits that will help your customers fit into the model that is better for them.
Starting as a Microsoft CSP raises many questions regarding billing and pricing models. Hopefully, the questions we answered in this series will help you choose a microsoft csp billing platform that meets your needs.