Monday, May 11th, 2015
Billing isn’t boring, says Tyler Eyamie. Honest.
As the CEO of Ottawa Fusebill, a software-as-a-service platform for billing, Mr. Eyamie might be expected to feel that way. However, he knows a lot of his customers would respectfully disagree.
“Billing is typically something that’s shipped off on an island in a back corner of an office,” he says, “and nobody thinks about it.”
Mr. Eyamie speaks from personal experience. He and his co-founders used to work at a company where it took six to eight weeks to update the billing system when changes were made to pricing plans.
“It was a very inflexible system,” he says.
But with the growth of software-as-a-service and other subscription-based business models, that approach just doesn’t cut it nowadays, he explains.
“Now clients want the best-of-breed continuously on a monthly basis. They want updates as they happen, but they also want to pay for that either as they consume it or as they use it on a monthly basis,” Mr. Eyamie says.
Under those models, billing systems must have the ability to be modified on the fly. Mr. Eyamie says that thanks to Fusebill, customers can “quickly adjust the pricing plan, press ‘save,’ and salespeople can be selling it and marketing people can be marketing it within seconds as opposed to days or even weeks.”
He says the shift to subscription-based sales models has created more work for some businesses, particularly if they’re also charging for usage. Now, instead of sending out a single invoice, they have to send 12 bills a year.
Mr. Eyamie says many organizations are still consolidating and sending out those invoices by hand.
“A platform like ours actually automates that entire process,” he says. “It really lets companies put their resources into building their business as opposed to billing their clients.”
Mr. Eyamie wants to be working with “that company that is looking to scale their business. They’ve looked back at their internal processes and realized that how they’re performing their billing and invoicing and managing their product catalogue is really limiting their growth.”
For Mr. Eyamie, achieving strong growth hasn’t been just about identifying a good opportunity – it’s also been a product of hard work. In a small company, that means wearing a lot of different hats.
“Not only am I the CEO, I’m the main salesperson here, I handle all the HR, all the payroll, all the financials, all the board reporting,” he says.
“The biggest thing that our company needs, as a smaller, younger company, is new sales,” adds Mr. Eyamie, who estimates he spends 70 to 80 per cent of his average workday seeking ways to build his customer base.
And when he succeeds, not only is billing not boring, he says, it’s exciting.
Year founded: 2011, Ottawa
Local head count: Just under 20
Key markets or customers: Software-as-a-service companies, e-commerce providers, other internet businesses
Product or service: Billing software-as-a-service
Growth percentage: 475.21%
Ottawa Business Journal. http://www.obj.ca