Billing System - 3 factors that will ensure you choose the right billing system

When your subscription business has gained its momentum and orders are running you will soon feel the need for an automated billing system. But finding the billing system that match your business the most optimal can be a difficult task. It is however, crucial for your future success.

But what factors are there to look for? And how do you know if it will be a match for both parts?

Asking yourself the 3 questions listed in this article will help you to make the right decision that will impact your company many years to come.

#1 Do the automated billing system integrate with my current systems?

Integration with your current ERP system will prevent you from retyping all your customer information to your new billing system. A billing system with ERP integration will thus ensure a quick and smooth transition.

Besides the transfer of customer information an ERP integrated billing system will generate valuable data that is crucial to understanding the health of your business. Metrics such as Customer LifeTime Value, Churn Rate, Annual or Monthly Recurring Revenue etc., which are critical for a subscription business to work thoroughly with to reach growth goals. The data in your current ERP system combined with a billing system could provide you with valuable insights for financial reporting.

Upodi is an open service based platform and integrates with several other systems within reporting, freight, finance, customer and support,.

Upodi’s system integration is continuously evolving with new features that creates value for our customers.

Knowing your subscribers is important if you want to react to their behavior. We give you all key insights so that you can get closer to your subscribers every single day. Upodi are fully integrated with a constantly growing list of systems:

  • E-Conomic
  • Dinero
  • Microsoft Dynamics 365
  • Microsoft Power BI
  • NPS.Today
  • Etc.

#2 - Do the billing system comply with international standards?

A proficient automated billing system should do more than just handling your subscription flow.

It should also ensure that you comply with international compliance standards related to the handling of online customer credit card data. As well as the technical documentation it requires such as GDPR, PCI and SPI etc.

Besides being relatively complex the international standard compliance is quite costly for a young company to handle on their own.

A compliant billing system will ensure you are fully compliant with all international standards and spare you the costs related to eg. PCI Level 1.

Upodi is fully compliant with all international standards. We ensure compliance with leading data protection and privacy laws applicable to cloud services. We help you comply with your specific requirements, by adhering to international and industry-specific compliance standards. With Upodi you don’t need to worry about the tasks related to compliance or the cost it entails.

#3 - What is the time frame to get started?

This might not seem like a crucial factor to look out for when choosing a billing system. But imagine what a slow and messy integration process would mean for your churn rate. It is critical that your customers don’t experience any technical issues in the integration process that might provoke them to churn.

Your customer's lifecycle begins when they sign up - then you are in a relationship. Your goal is to keep that relationship and make it a good one. To do so, you need to provide the perfect subscription experience every time.

At Upodi we have made it our goal to create a billing system that integrate fast and effortlessly. Our simple API’s enable you to get started in hours not days.

As a subscription business, your goal is to provide the perfect subscription experience for your customers. At Upodi we are all coders and our goal is to have every feature you need to do so. In other words, we support each other towards a mutual goal: To make you successful in your subscription business.

Need help handling subscriptions for your SaaS?

Upodi helps you grow your SaaS business. We do that by aiding you automate your subscription and on-demand billing. This makes SaaS accounting easy, because our system handles the bulk of the work for you. That way you can focus on growing your business, and let us handle the rest.

Fanny Josefine Fredskilde
May 15th, 2019
- 8 min. read.

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