New York, NY -- (SBWIRE) -- 11/15/2016 -- Cloud billing is the method of generating bills from the resource usage data using a set of predefined billing policies. Depending on the cloud computing general policies, the bill can either be for real money or it can refer to an abstract notion of exchange. It provides solutions for digital and non-digital cloud services. Cloud services are those which are made available to the users through internet from cloud computing provider's servers. These services are wholly managed by the cloud services provider and are designed to provide easy, scalable access to applications, services and resources. There are three types of cloud services namely platform as a service, infrastructure as a service and software as a service.
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The need for cost effective business processes is rising high as organizations aim to gain competitive edge in industry. Cloud billing solutions have ensured cost efficiency since they reduce the IT infrastructure and resources due to which most of the industries are adopting cloud services. They have several advantages which include increased transparency in billing and charging processes, flexibility to up-scale with increase in customers, virtualized workplaces and simplified operations along with accelerated performance. These services are flexible and hence have created opportunities across various verticals which help to drive the cloud billing market. Moreover, proper establishment of cloud services is essential in order to sustain through the intense competition and avoid revenue leakage. Examples of cloud services include web-based e-mail services, database processing, online data storage and backup solutions, hosted office suites and document collaboration services and managed technical support services.
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Some of the companies which use cloud billing services include Amdocs, Amazon Web Services, Comarch, IBM, Aria Systems, Mphasis, Comverse, Oracle and Bmc Software among others. Key innovators of cloud billing market include Talligent, Utilibill, Csg International, Metratech and Redknee among others.