Metered Billing: What is it and when should it be used?

Metered billing has been steadily growing in popularity, with more and more businesses starting to adapt to its model.

It is now a mainstay in most SaaS billing software, making it relatively easy to implement.

Although it is popular for good reason, if you’re thinking about trying out a metered billing model for your business you should take it step by step. In fact the first thing that you should do is fully understand what metered billing is all about – and when it should be used.

“What is Metered Billing?”

To put it in simple terms, metered billing is a type subscription billing that is based on usage. In other words customers are charged based on their actual usage rate.

Make no mistake this model is not new and has been around for some time, as evidenced by utility bills such as water or electricity. It can take on various forms however – such as fully usage based billing, or charging a monthly minimum with additional fee based on usage.

The main reason why metered billing is attractive is the fact that customers love it. Unlike other models it feels fairer to them seeing as that they’re paying only for what they need – and not wasting any money on things that they don’t need.

For businesses that often translates into an increase in customers, as well as an increase in revenue from heavy users that have high usage. Seeing as it benefits both businesses and consumers, it is essentially a win-win.

“When Should Usage Billing Be Implemented?”

Before you decide whether or not to start using metered billing, you should first consider whether or not it is suitable for your business.

The fact of the matter is that not all businesses can successfully take advantage of metered billing. More to the point, if your business and the product it provides aren’t suitable – you won’t be able to benefit from it.

To determine if you should implement metered billing, there are a few areas you should look at:

How can the usage be broken down?

The main prerequisite for a metered structure is that the usage must be able to be broken down into specific units. Ideally the units of usage should be easy to identify and understand.

For example in mobile phone plans the usage can be charged based on the duration (i.e. call minutes).

What affect does usage have on costs?

For metered billing to feel ‘fair’, the usage needs to correspond with operating costs. If it does not, customers may question why you’re charging them for it in the first place.

For example in web hosting packages the usage of storage space and bandwidth directly adds to the operating costs of the service.

What is the frequency of units being used?

Metered billing works best when the frequency of units being used is high, such as on a continuous or daily basis. If it isn’t high there may be other models that are more appropriate, such as individual purchases or pay-as-you-go.

For example electricity usage can be tracked continuously, meaning that its frequency of usage is very high.

How much does the usage vary?

One often overlooked factor is that metered billing is perfect when the usage for different users varies quite a bit. That way the heavy users pay more, while others do not – making it feel fair.

If the usage doesn’t vary much a simple monthly subscription may do the job just as well as metered billing.

Suffice to say usage based billing works best when the usage can be broken down, affects the cost, and is both frequent and varied.

Conclusion

At this juncture you should fully understand what metered billing is, and when it should be used. That should be more than enough for you to look at your business and its products or services, and decide whether or not implementing the model is a good idea.

Keep in mind that you explore different types of usage based billing and find the one that fits your products or services best. It may take a bit of planning on your end, but it will help you ensure that the metered billing model you implement is the best fit.

Photo by Austin Distel on Unsplash

Primark demands landlords give them 30% rent cuts for not using CVAs

Primark is demanding that landlords cut its shop rents by 30 per cent after struggling high street chains used insolvency tools to slash theirs.

New Look, the Topshop owner Arcadia and Monsoon used company voluntary arrangements (CVAs) to close stores and reduce their bills.

CVAs have doubled in the past two years as bricks and mortar retailers have been caught out by the rise of online shopping. The CBI reported that retailers had recorded the longest period of falling sales for eight years.

Primark, which has so far resisted launching an online store, has 189 shops in the UK and made £7 billion of sales last year. In return for rent reductions, the discount fast-fashion retailer has been offering landlords lease extensions or an investment in store refurbishment. “We have a duty to our shareholders to maintain a competitive cost base,” Primark told The Sunday Times.

Its demand will add to the woes of Britain’s listed property companies, including Intu and Hammerson, which are facing investor scrutiny about the inflated values of shopping centres.

Next has secured average rent reductions of 29 per cent. WH Smith is paying no rent on a handful of stores while Julian Dunkerton, co-founder of Superdry, warned that if landlords did not agree to rent cuts he would shut shops. Hotel Chocolat’s founder, Angus Thirlwell, said “arrogant and dominant property owners” were now being forced to be more supportive of retailers.

Best innovations that are widely used in 2019

Technology has brought lots of unimaginable things that have simplified and bettered things in many ways.

From the automotive industry, medical industry, education industry to travel industry, lots have been improved by technology. As the impact of technology cannot be captured in one, let us take time and see the top innovations that have made headlines globally.

Today you can monitor your house on your mobile phone, locate your friends from your mobile phone by use of apps like gpswox application and you can order a tax ride on your phone. The world has truly turned into a village.

Artificial Intelligence

Have you ever searched for something on the internet and find some suggestions popping out? For example, you search about dresses and you find suggestions like shoes, watches and earrings. This means the site has learnt your area of needs and it is trying to help you find other accessory or alternative products. That is artificial intelligence. AI has been used in many platforms with the aim of assisting people. Auto fills in websites, automatic response suggestions in chat rooms and emails among many other applications.

Machine Learning

This is a subset of Artificial intelligence but it is considered on its own because of how beneficial it is. You have heard of self-parking cars, automatic drive cars, and phones that can detect voice commands only from the owner. Those are examples of machine learning. Nowadays cars cannot be stolen because they have a system that detects if a key is not from the manufacturer of the car. Machine learning has simplified the work of many people because you no longer do the obvious tasks. For example, recruiters can now relax because machines and software can analyze resumes and identify the appropriate candidates that match the advertised role.

Blockchain

Crypto currency became the order of the day after Bitcoin rose in value to the extent that people thought the world of finance was being revolutionized. Nowadays people can trade and pay with cryptocurrencies. You pay online, no bank records, no receipts so it is fully electronic. It is technology that though it has been endorsed by a few people, it is still very practical and of great benefit to people. Blockchain will take long before it is accepted by the whole population because not all people have access to the internet. It is there growing slowly as people get used to it.

GPS and Tracking

With the use gps tracking software, you can be sure to find the location of your things any time. As long as they are connected, it is normally easy for you to track them. No one can steal a car or any commodity that is connected because signals can be sent to wherever place and make the object located easily. GPS systems are incorporated in phones and other devices so anyone can be able to access such services at any time. As long as you can see others, you can also be seen.

Conclusion

Lots of have been brought to place by technology and a lot more is still coming. The use of VAR in football, virtual reality in gaming are just a tip of the iceberg. Application of these innovations differ so you may even realize you have them in your house and you don’t know. Virtual reality and 3D movies have improved the entertainment aspect of these components and many people are very satisfied with the graphical effects. Technology real revolutionizing the world and lots more is yet to come because every year more and more features are being deployed to the market.

Have smartphones replaced laptops?

When laptops were first invented, people saw them as a thing that would replace desktop computers.

Of course, this did happen domestically although many people still use desktop computers for their offices and other gaming needs.

Since then, we have seen the rise of smartphones and just how attached the general public is to them. For this reason, we raise the question – have smartphones replaced laptops? Keep reading to find out what we think in this article below.

Social Media

Social media has come a long way over the years and now we are faced with some of the most popular channels including Instagram, Facebook and Twitter taking up space on our smartphones. While, in the past, people would update these channels on their laptops, they now are primarily accessed via smartphones. Some sites like Instagram for example, don’t even let you upload if you aren’t on the app!

Gaming

There are many different forms of gaming that you can enjoy from gaming consoles to PC games and mobile games – but which is most popular? Many people still play games on their laptops, but new mobile games have definitely shown that smartphones have a strong presence. Online casino games are now available on mobile devices meaning that players can open their smartphone and play Vikings Go Berzerk and other slot games. This suggests that smartphones may be taking over when it comes to gaming.

Creating Documents

One of the places that it doesn’t seem that smartphones are overtaking laptops is in creating documents. Many people prefer to type out a document with a full-sized keyboard and a large monitor. This is the case in offices and for those who are running their own businesses. While there are some services for creating documents on smartphones, it is not quite there in terms of technology.

Shopping

Another area to look at when comparing the popularity of smartphones and laptops is shopping. While some people prefer to see items for sale on a larger screen, others do all of their shopping on their smartphones. With apps like Instagram and Facebook now offering shopping features, this is set to become the norm in the future.

General Internet Browsing

Finally, you could say that smartphones are used a lot more for general internet browsing. It is so easy to pick up your mobile phone and perform a quick Google search to find out some information. People can even use voice search to get the job completed quickly and this is why many people don’t want to waste the time turning on their laptops.

Final Verdict

As you can see, smartphones are definitely the most popular choice for many different kinds of tasks. While office workers tend to use laptops or desktop computers, smartphones can be used for pretty much anything else. With technology constantly evolving – who knows what smartphones could be capable in the future. Keep an eye on this technology and how it starts to replace other products that we have been using for years.

Buying quality used woodworking machines and how to get them

The quality of your business and woodwork largely depends on the type of machinery used.

That is one of the reasons why many woodworkers find themselves in front of a dilemma whether to buy new or used industrial machinery.

Used machinery has many benefits associated with them, but the new machinery also has some advantages too. If you are looking to buy or sell used machines then you should consider a few things first.

What to Pay Attention To

Every buyer should consider the repair costs and the possible resale value of the machine he intends to buy. Different machines have different repair costs, so consider those. This is something many buyers often neglect when looking for machinery, but you would avoid many costly problems if you consider this in advance.

When it comes to resale value, think about how much you can earn from it if you decide to sell it later after you have finished working with it. Perhaps you will not need the machinery for a long time, so why not make some extra profit when selling it later? In order for this to happen, you need to get a machine that operates at good levels and that is well-maintained.

Before buying used machinery for woodworking, it is advisable you spend some time learning how the machine you intend to buy operates. If you are a newbie, then you should know that online you have all kinds of training videos, step-by-step guides, training sessions and other valuable things.

Spend some time getting familiar with how the machine works as that will save you valuable time later when you buy it.

Finally, make sure you check out about the availability of spare parts for the machine. Some woodworking machinery requires many spare parts in comparison to others, so this is something you definitely need to pay attention to.

For some machines you can quickly find spare parts, but for others you may have to wait for longer period of time before finding adequate replacements. However, if the used industrial machinery you intend to buy is well-maintained then costs for repairs and spare parts will be significantly less and the machine will serve you well for longer period of time.

Tips for Buying Used Equipment

Today you can find numerous industrial providers that offer all kinds of used industrial machinery for any industry. All of them use different strategies in order to sell their products to the customers. Sometimes buying machinery can be daunting, but you can make your choice much easier if you follow the next few steps. They should help you find the best machinery possible for your industry that will be reliable and that will serve you well in your work.

First thing to do before looking at machines is to determine what type of industrial machinery you need. Do you need a machine to only cut woods or you will cut other materials with it as well? Figure out what exactly you need the machinery for and then you will have an easier job searching for the right equipment.

Second thing to consider is your budget and the price of machines. If there is no exact cost on the machine you want to buy, then contact the seller and ask for a price. Get as much as information you can about the used machinery and see whether you will have some extra costs for repair parts and maintenance. Do not settle always for the initial price, but try to negotiate and see whether you can get some discount for the machinery you really want to buy.

Last, but not least is to always buy used machinery from a reliable and reputable provider such as Exapro. They have a large network with over ten thousand of sellers, so there are all kinds of machinery available. They are always helping their buyers find the specific machinery they are looking for in all sectors ranging from wood, plastic and metal to food, textile and packaging.

A good idea would be for you to visit the company that sells machinery and meet in person with their representatives. They can guide you and inform you about everything you are interested in regarding used industrial machines.

By following these few simple tips you ensure finding quality used woodworking machines for your needs. Never rely on simple ads, flyers or posters before buying, and always make a thorough research about everything. You as a buyer deserve to get the best, even if it has been previously used.

Some selling companies are also able to offer warranties and insurances regarding used machines, so check out that too. These are some things for you to think about before giving your cash to the supplier. If you follow the steps closely you will certainly find good used machinery for your business.