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The Aalsmeer-based invoicing specialist, FIQAS Software, has expanded its invoicing platform Abillity® with a real-time billing solution. This advancement enables FIQAS to seamlessly bill hundreds of millions of transactions generated by clients’ systems 24/7 in real time.
Generic billing solution
The generic billing solution has been developed in part based on input from OLX, a globally leading online marketplace. OLX is also the first client of FIQAS to implement this new functionality.
FIQAS manages financial processes such as pricing, invoicing, and collection. The foundation for this service is their proprietary invoicing platform, Abillity®. FIQAS processes transactions for clients that involve telephone usage, data consumption, port fees, dispatched parcels, fuel transactions, and parking transactions, among others. For OLX, where FIQAS has been a global supplier since 2018, it involves invoicing for advertisements and banners.
Floriane Gramlich, Director of Product Monetization at OLX, stated:
“When we asked FIQAS to assist us in real-time transaction processing for our international marketplaces, they quickly came up with a robust solution. This real-time billing solution is essential for us to achieve our global growth ambitions.”
Significant for rapidly growing and internationally operating clients like OLX is that the real-time billing component, similar to other components of the Abillity® platform, is infinitely scalable. Therefore, there’s no limit to the number of transactions processed; the solution scales with OLX’s growth. Additionally, the real-time solution, like other features of the Abillity® platform, supports flexibility, such as accommodating varying VAT regimes across different countries.
The Abillity® real-time billing solution by FIQAS is currently deployed for OLX brands in twelve countries across Asia, Africa, and South America. Other clients are also adopting this solution.
Rob Geleijn, Director of FIQAS, is confident about the added value of the real-time billing solution for OLX and other FIQAS clients: “With a standardized and automated invoicing process, our clients gain better insights into their revenue streams. They gain more control over it, all at reduced costs. Especially for a globally active company like OLX, which will ultimately use the FIQAS solution in thirty-three countries, this provides significant financial and operational benefits.
