Your subscription-based business is booming. Subscribers are going from hundreds to thousands and you are looking for tools to sustain that momentum, such as a software company to support your subscription and recurring billing management. Or well, perhaps you already got one but it just cannot seem to get your MRR or ARR calculations right?
Put your ARR and MRR calculations in good hands
No doubt, you need a trusted platform that can not only handle your pricing and calculations right, but also manage subscriber experience through sign-up, automated billing and invoicing, and the whole payment facilitation process without issues.
Shifting between different recurring billing vendors can be costly, as it takes time and resources to set one up in the first place. Make sure to carefully assess what features are key to your business and pick a recurring billing software accordingly.
While you do so, take a look at Upodi and the 5 ways it can help foster your recurring billing.
Starting off right is key. Your recurring billing software has to be easy to understand, have a friendly UI and integrate with other systems you have in place. Plus, it should not take ages to learn how to use it.
You want a tool that will help increase your company’s efficiency - not the other way around.
This is why frictionless integration is essential. Pick a platform that will integrate to whichever systems you want it to. Upodi integrates seamlessly with any leading financial and account solutions you might need.
Plus, Upodi’s APIs enable you to onboard in hours, not days. Spend the saved time on what matters - running your business.
2. Invoice automation for the win
Invoices. Those should be as automated as they can be. With Upodi you decide how much and when your subscribers should pay - and we take care of the invoicing.
Upodi can also trigger emails (with customized branding) to your customers if they’re due to be billed but their payment method is expiring or send receipts to customers every time they are rebilled.
A great way to nurture customer relationships is to tell them how they can save. For example, if they subscribe for the whole year, you can give them one month for free. Upodi can take care of this for you and invoice respectively. You will retain a satisfied customer and get a more predictable ARR. Win-win.
Meanwhile customized invoice design helps strengthen your brand identity and regain control of your brand.
3. Scale as you wish, we’ll scale with you
When choosing recurring billing software, make sure to evaluate its flexibility. You need to have the freedom to scale as needed and accommodate custom requirements that come with it.
Keen on venturing out into international markets? Upodi will help you handle different currencies, compliance and taxes.
The competition among subscription businesses is fierce. You are in a constant race to get your product to market faster than others. The quicker you gain a new revenue stream, the better you will perform in the long run. This is why the flexibility of your recurring billing software is crucial.
An inflexible solution limits your capabilities in terms of how fast you can implement new business ideas, which can lead to disappointed customers and shrinking revenue.
4. Put your subscriptions on auto-pilot
The most successful businesses offer a wide range of pricing and product options to their customers, but also keep things simple. It has to be easy to subscribe, upgrade or downgrade, use coupons or even unsubscribe.
This is where good subscription management software can be a game-changer. Upodi will automate your subscriptions and streamline the entire sales process, including notification emails and freemium management, among others.
5. Payment methods aplenty or how to keep your churn rates low
In this day and age, one can choose from a multitude of payment methods. Your business needs to offer the same. Your customers should not experience any technical obstacles when paying.
Reliable recurring billing software will have automated charge claims, reclaims and dunning set in place. Upodi will promptly communicate to your customers should there be existing or potential issues with their payment method. This will keep your technical churn rates low.
Upodi has also teamed up with some of the best payment providers, including Stripe, PayPal, Klarna, MobilePay and many others. All catered to fit the needs of different European markets. Parent billing and complex customer hierarchies are also supported to adjust for in-direct and direct purchase channels because revenue comes from different channels.
Leave your recurring billing to us
Picking the right platform helps put your recurring billing process on autopilot and drastically reduces the time and resources you would need to spend on managing subscriptions and getting payments from customers.
Upodi manages subscriptions and recurring billing for a variety of different clients, including banking, retail or SaaS companies. You need someone who will fully support and improve your business model. And whichever industry you may be in, Upodi can cater to your needs and assist you in managing the entire customer cycle.
We can tell you (and show you) more about what Upodi can do for your business. Simply book a free demo:
Mette N. Mortensen is a student employee with a thirst for Marketing. She is driven by her passion, and takes pride in providing the best results possible. As a Marketing Manager, her goals include providing relevant and exciting content, innovative solutions, and provide value to both company and customers. In addition to working at Upodi, Mette is taking her Master degree in Strategic Communication at Aarhus BSS.
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