Selecting an appropriate billing system is crucial for businesses, affecting customer satisfaction and revenue recognition, especially as subscription and usage-based models become more prevalent. Companies must assess their current financial processes to identify inefficiencies and ensure their billing software supports varied pricing strategies, including subscriptions, usage-based billing, and hybrid models. Essential features of modern billing systems include automated invoicing, flexible pricing options, robust usage metering, scalability, and integration with existing tech stacks. Compliance with local and international tax regulations, multi-currency support, and various payment methods are vital for global operations. Additionally, robust reporting and analytics capabilities provide insights into metrics like monthly recurring revenue and churn rates, essential for data-driven decision-making. The implementation process and ongoing support from the billing provider are critical to ensure a smooth transition and long-term success. By conducting a detailed evaluation, including a proof of concept, businesses can choose a billing solution that aligns with their growth strategies, turning billing into a strategic advantage. Lago is highlighted as a flexible platform that supports diverse pricing models and processes a high volume of billing events, offering comprehensive control over billing infrastructure.