How Gen AI-powered billing could benefit your business in 2025

By Carl Warwick (pictured), Regional Sales Director Asia Pacific and Japan, BillingPlatform

You’ve clocked the hype, you’re worried about being left behind and so you’d like to begin incorporating Artificial Intelligence (AI) into the systems and processes you use to run your operations, pronto?

If this sounds familiar, you’re far from alone. Across the country, other business leaders are mulling over these same issues, in an effort to decide where their energy and investments should be focused first.

Sixty-seven per cent of Australia’s tech leaders expect AI will be the year’s defining tech trend, well ahead of cyber-security on 17 per cent and circular technologies at just seven per cent, according to the 2025 Australian Tech Leaders Survey, conducted by The Tech Council of Australia and Datacom.

“While 2024 was a big growth year for AI, there is huge potential for businesses to further embrace AI to work smarter and boost productivity,” said Tech Council CEO Damian Kassabgi.

Commencing your Gen AI journey with revenue management

While the revenue management function may not be an obvious starting point for your AI journey – historically it’s been viewed as an essential but decidedly unglamorous backroom function – there are compelling benefits to be had from making it your first focus.

For starters, your revenue management systems can be a gold mine of information about your customers and what makes them tick. Use generative AI to help you dig deep into the data and you’ll emerge with quite the story – about who’s using your products or services, how often they’re buying and whether they’re paying for them early, late or bang on time.

Make a longitudinal study of those patterns and further insights will emerge – clues that will help you understand customers’ motivations and behaviour and predict future trends, including where demand is likely to emanate from.

Armed with that intelligence, you’ll be able to develop and refine well priced product and service offerings that resonate with your target market.

And you’ll be able to target those cohorts with personalised marketing messages – laser focused interactions and offers that feel like they were made to measure, instead of the generic ‘spray and pray’ email campaigns businesses had to rely on in days of yore.

Getting smarter about compliance and fraud

That’s the business development piece – but it’s not all that generative AI technology can do for you.

Ahead of the curve organisations are also deploying it as a compliance assistant extraordinaire, courtesy of its ability to sift through mountains of data at speed and pinpoint subtle anomalies.

In some instances, those anomalies can be a sign fraudulent activities are occurring. They’re red flags but tiny ones – too small for even the most experienced and vigilant of human investigators to see.

Spotting financial risk and forecasting revenue can become easier propositions too. Let AI-powered tools loose on your organisation’s billing data and you’ll be able to identify potential financial vulnerabilities and generate a more accurate picture of your outlook in the months ahead.

Choosing the right AI powered revenue management solution

Of course, achieving these benefits is impossible without the right tools. Choose a

cloud-based revenue management platform with a metadata-driven architecture and you’re likely to find Generative AI can be seamlessly integrated with the entire system.

That means it will be able to adapt and improve, based on how users are interacting with the system. It can determine what it is they’re trying to ascertain or achieve and create a shortcut or dashboard to help them get there quickly and easily.

And, instead of having to rely on professionals to interrogate revenue data for them on request, members of your finance team will be able to describe what they’re looking for in everyday language – and have the results served up to them in whatever format they choose.

It’s easy, intuitive and empowering for employees who would not previously have been able to delve into the arcane world of data analytics.

Setting your enterprise up for a stronger future

While the term ‘transformative technology’ is prone to overuse, it’s hardly hyperbolic where generative AI is concerned. Australian businesses that are slow to harness its power risk being rendered uncompetitive by faster, future focused rivals. Finding intelligent ways to incorporate it into your operations – and quickly! – is critical and, for many, the revenue management function is the optimum place to begin.