What is milestone invoicing in SAP SRD-CRM - CRM-Customer Relationship Management?

SAP Term: milestone invoicing

• Component: SRD-CRM

• Component Name: CRM-Customer Relationship Management

• Description: The billing of a purchaser by a supplier for predefined amounts on the completion of scheduled events.

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• Key Concepts: 
  Milestone invoicing is a feature of SAP Customer Relationship Management (CRM) that allows customers to pay for goods and services in installments. This feature allows customers to pay for goods and services in stages, rather than all at once. This can be beneficial for customers who may not have the funds to pay for the entire cost of a product or service upfront. 
  
  How to use it: 
  In order to use milestone invoicing, customers must first agree to the terms of the payment plan. Once the terms are agreed upon, the customer will be able to make payments in installments. The customer will be able to view their payment plan and make payments through the SAP CRM system. 
  
  Tips & Tricks: 
  It is important to ensure that customers understand the terms of their payment plan before agreeing to it. It is also important to keep track of payments and ensure that they are made on time. 
  
  Related Information: 
  SAP CRM also offers other features such as customer segmentation, customer analytics, and customer service management. These features can help businesses better understand their customers and provide better customer service.