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Subscription management software, also called subscription billing or recurring billing software, automates the billing cycle for subscription revenue models. These tools have become increasingly important with the rise of SaaS businesses. For start-ups especially, lighter weight subscription billing applications (which are inexpensive and fast to implement) can allow businesses to start processing online payments quickly. Fewer legal, finance, and accounting resources are required to manage different subscription cycles for different customers/accounts.
Payment Gateways connecting with credit card companies making it easy for customers to use any card without having to submit to Payment Card Industry (PCI) compliance.
Support for Merchant Accounts. These are bank accounts that allow your business to accept money from payment cards.
Subscription Management handle subscriptions and make sure the right accounts are charged the right amount every month.
Analytics systems or dashboards providing at-a-glance data on customers and sales.
Dunning tools work to mitigate the impact of failed payments by ensuring customers always have updated credit cards on file.
Revenue Recognition systems automate accounting processes and ensure that revenue is only booked for products or services delivered.
Here are but a few important considerations for buyers of recurring billing software:
1. Will you be processing international payments? If so, make sure to select a product that can handle multiple currencies.
2. Will you be selling to businesses or consumers (B2B vs. B2C)? If you are selling to consumers, they will likely want to use a credit card (or a service like PayPal), methods which are supported by all subscription billing platforms. But, if you are selling to businesses, you may need to select a product that also supports invoicing/ other forms of payment.
3. How important is branding at the point of sale? Be sure to ask about the degree of customization available on the payment page (where customers interact with the subscription billing software). For some industries/products, if the look & feel of the payment page is different from the rest of the site, it may affect conversion.
4. How many transactions will you have on a monthly basis, and of what size? Subscription billing vendors tend to charge either a flat rate, percentage, or combination rate per transaction, so the most cost-effective solution will vary depending on the frequency and amount of payments processed.
5. Are you using an eCommerce platform? Your eCommerce vendor may already provide billing features and services that can meet your needs. If you are already using an eCommerce platform, but need more robust subscription management features, make sure the product you select integrates with your storefront, and determine how email communications (about purchases and payments) will be handled between the two systems.
Several vendors charge a transaction percentage of 2 % or 3% plus an additional transaction fee. Some vendors charge a more traditional tiered subscription price ranging from $500 per month to $1,500 per month, depending on number of customers. Some users use a combination of both.
Sage Intacct is a cloud ERP system targeted at high-growth small and medium-sized businesses. Intacct includes applications for core financials and accounting, purchasing, order management, and financial reporting and business intelligence. It also integrates with 3rd party software like Salesforce.
Zuora is one of the best-known subscription billing platforms. Zuora is an enterprise-level product and, as such, provides comprehensive metrics, tax automation, and support for multiple currencies. It also offers Salesforce and NetSuite integration out-of the-box. It often replaces cumbersome E...
Stripe is a payment gateway software solution which supports a range of payment related needs such as subscription management and recurrent billing via Stripe Billing, integration with third party payment services via the Stripe Connect API, assistance starting an Internet business which accepts...
Salesforce CPQ (formerly SteelBrick) is built and delivered on the Salesforce Platform and Salesforce1 Mobile App which enables users to create accurate sales quotes quickly and submit error-free orders on the fly from any device.
PaySimple is a payment gateway software solution offered by PaySimple.
ChargeBee is an all in one subscription billing solution designed to handle all the complexity of recurring billing. The product integrates with a range of other SaaS applications including SalesForce, accounting, and order fulfillment systems. Some key features include: Managed Subscription Bill...
Recurly is a subscription billing platform and manages customer communications via email, business performance monitoring, and account changes. A merchant bank account is required to work with Recurly. A payment gateway is part of the product but it integrates with other gateways, such as PayPal,...
Chargify provides a SaaS billing solution that handles free trial periods, one-time fees, promotions, refunds, email receipts. They support billing your customers by credit card or invoicing for larger accounts. Prices start at $65/month for 20 customers, and trend upward to $1,299/month for 10,0...
Braintree, a Paypal service and subsidiary, is a billing platform which stores credit card data directly from the merchant’s systems on secure servers, and it allows for cards to be recharged or refunded . Braintree also supports international payments. Pricing is 2.9% plus a 30c transaction fee.
SaaSOptics is a subscription management platform that allows SaaS vendors to monitor their customers' subscription usage and manage renewals and invoicing. It integrates with payment tools like Stripe, Recurly, etc. as well as with QuickBooks.
FastSpring is an ecommerce solution with features such as subscription billing and customer relationship management.
2Checkout is designed to address the complexity of online commerce, subscription billing, and global payments for software, SaaS and online services companies. The vendor says that their solution is backed by: a proven cloud platform, unmatched expertise and a depth of digital commerce services. ...
London-based Paddle offers an ecommerce and subscription management solution for software companies seeking a streamlined demonstration of their services and centralized management of their different service levels and cloud-based offerings.
Rerun allows users to automate recurring payments from customers and clients by credit card or bank transfer (ACH). Set up is minimal: users can create payment streams based on how they want to accept payment for products or services. Payment streams can charge customers one time, or users can...
Vindicia's CashBox subscription billing and one-time transactions billing platform consists of a billing system where merchants can define billing plans, issue refunds, create payment retry schedules.
ChargeOver is a subscription and recurring billing software solution with built-in invoicing and reporting.
Cleverbridge is an enterprise eCommerce solution with subscription management capability to drive growth.
Chargent is a Salesforce app from AppFrontier LLC that providers payment processing functionality in Salesforce and provides a point of sale solution in an app; Chargent integrates with a number of popular payment gateways (e.g. Authorize.net, Stripe, etc.). Chargent can also be configured to man...
Zoho Subscriptions is a one stop recurring billing and subscription management solution. Zoho Subscriptions automates the entire recurring billing process and takes users to the market in few minutes. This solution enables users to: Create subscription billing pricing plans, add coupons and...
Cratejoy is an online subscription billing solution that provides clients with features such as a website builder to create a subscription store, flexible product options, customer accounts, and inventory management. In addition to the traditional subscription billing and eCommerce features, Crat...
Subscription Genius is a cloud-deployed subscription billing platform featuring subscriber management, analytics, and robust e-commerce capabilities.
Billtrust is a payment cycle management solution, offering invoice delivery, multi-channel payment enablement, and payment posting.
Ericsson Enterprise & Cloud Billing is a pricing, billing, charging, and settlement software platform. The platform is based on Metanga, a subscription billing platform and division of MetraTech acquired by Ericsson in 2014.
Biller Direct from Fiserv is an electronic bill presentment and payment (EBPP) for business-to-consumer service providers. It includes features like a customizable online payment gateway that matches the look and feel of the user's website, automated delivery of notifications via email or mobile ...
LimeLight, headquartered in San Francisco, offers their subscription business management platform supporting ecommerce transactions and recurring billing along with customer management, payment gateway, and fraud protected transacting.