Subscription management software for SaaS

The need for subscription management software is rising and for good reason. Subscription management software for SaaS empowers SaaS companies to effectively handle customer billing using various payment options, efficiently manage billing cycles, and streamline transactions.

However, managing these processes can be challenging, especially when dealing with a large customer base. The task of collecting customer details, tracking subscription statuses, generating invoices, and receiving payments can quickly become overwhelming. Relying solely on spreadsheets and manual methods for these various processes can hinder productivity and slow the workflow.

But do not fret because subscription management software is the solution you've been looking for. In this article, we will introduce you to the top 5 best subscription management software for SaaS – so that you can find the most suitable one for your company. But to begin with, we will delve into the capabilities of this software and explore how it can significantly benefit you and your business. Let's go! 

What is SaaS subscription management?

Subscription management encompasses the task of supervising customer subscriptions, guaranteeing a seamless onboarding experience, and delivering excellent service throughout the customer's entire journey. It entails activities such as contract signing, tailoring plans, and payment schedules, as well as handling renewals, upgrades, and downgrades. 

Efficient subscription management software for SaaS also involves utilizing appropriate technology to facilitate these operations. It pertains to software systems that monitor the entire process and streamlines its various aspects.

SaaS companies can create a gratifying customer experience by effectively managing subscriptions while accurately recognizing revenue.

Why subscription management software SaaS? 

Having subscription management software for your SaaS business is essential. It empowers you to charge your customers a predetermined fee using various payment options on a recurring basis. Additionally, it efficiently handles your subscribers' transactions and billing cycles.

Utilizing subscription management platforms for SaaS can achieve consistent revenue and accurately forecast recurring revenue monthly or annually. Moreover, it minimizes customer churn and effectively recovers fees from declined payments by managing the dunning process.

Given the abundance of subscription management tools for SaaS available online, selecting the most suitable one for your business can take time and effort. However, there's no need to worry, as we have laid the groundwork for you.

Also check out: 5 steps for successful SaaS subscription management. 

Different aspects of SaaS management software to look for 

Cancellations 

The subscription management software must have a user-friendly cancellation process. Before commencing SaaS software management, it is imperative to thoroughly review all policy-related documents, particularly sections outlining cancellation and refund procedures.

Renewal planning

Renewal decisions play a significant role in SaaS management. When considering whether to renew and selecting the appropriate plan, conducting a comprehensive analysis of past software usage data within your company is essential.

User allocation and management

Software providers often offer multiple packages with varying features, typically charging higher fees for more comprehensive offerings. After onboarding a software provider with a specific package, monitoring how your employees utilize the selected features is important. This enables you to make informed decisions regarding whether to upgrade or downgrade and determine which features are necessary for each employee.

Payment frequency

The frequency at which you opt to pay for your subscriptions directly influences how you establish your recurring payments. Payments are a vital component of subscription management, so it is crucial to select the appropriate timeline. While monthly subscriptions are prevalent and straightforward, there are also options for quarterly, semi-annual, or annual plans. Ensure you choose the frequency and features that best align with your company's requirements.

Also read: Best subscription management software of 2023 (Complete guide)

1. Upodi 

Upodi is a modern and dependable subscription management software for SaaS companies, designed to support you throughout the entire lifecycle of your subscribers, from their initial sign-up to reactivation. With Upodi, you can effortlessly handle various activities such as managing free trials, upgrades, downgrades, pricing experiments, automated billing, dunning, and customer communication, all from a single platform.

Whether venturing into new markets or introducing additional products and services, Upodi allows you to scale your business without complicating your tech stack. Regardless of the number of new subscribers joining your platform or the extent of your offerings, Upodi seamlessly grows alongside your business.

Automating and securing recurring billing operations is made easy with Upodi. The platform also enables you to monitor the health of payment methods, automatically retry failed payments and free your customers to choose their preferred payment option. With Upodi, you can efficiently manage your subscription operations, ensure payment success, and maintain a seamless customer experience throughout their journey with your business.

Key features of Upodi include: 

Upodi ensures the utmost protection for you and your subscribers, meeting your specific requirements and creating a secure environment.

With Upodi, you can align the value of your subscription plans and effortlessly adapt to your evolving needs. Upodi offers the flexibility and precision required to cater to your unique circumstances, whether during the activation process, reactivation, or within a billing cycle.

By equipping you with valuable insights and analytics, Upodi empowers you to gain a deeper understanding of your subscribers. This knowledge enables you to establish stronger connections with them daily, fostering meaningful relationships and enhancing your overall subscriber experience.

Here you can find all of Upodi’s essential features. 

Pros:

• Upodi is designed for high-volume operations, making it an ideal choice for your fast-growing SaaS company. 

• With Upodi, you can automate and optimize the entire subscription lifecycle for any type of subscription-based business, Upodi is highly customizable via its state-of-the-art Open API.

• From managing free trials to handling upgrades and downgrades, and from invoicing to dunning and customer retention – Upodi provides a comprehensive and centralized platform to streamline all these essential functions. 

Cons:

• The platform's selection of native integrations is limited, and unfortunately, it does not include a customer self-service portal. As a result, customers are unable to independently manage their subscriptions. 

2. Chargebee

Chargebee is an all-inclusive software solution for SaaS companies to manage subscriptions, covering all aspects from billing and payments to accounting and taxes. With its extensive features, this platform allows you to handle subscriptions on a large scale effortlessly.

By offering a unified perspective of all your subscriptions, Chargebee empowers you to capitalize on new upselling opportunities, thereby increasing your revenue potential.

Key features of Chargebee include: 

Among the various valuable features provided by this software solution, the pricing solution stands out. With this tool, you can quickly assess and identify the most effective pricing method for your business, including options such as tiered pricing, volume pricing, flat pricing, and more.

Pros:

• Easy to create different subscription plans and manage them from a single dashboard.
• Built-in prorated billing to take care of switched plans.
• Possible to create trials that are profitable for your business.

Cons:

• Customization of set-up and configuration can be restrictive.
• Adding additional modules or moving pricing tiers can be expensive.

3. Maxio 

Maxio was formed through the merger of SaaSOptics and Chargify, combining the expertise of the industry-leading recurring revenue management provider and the top SaaS billing company. Maxio is dedicated to assisting B2B SaaS companies achieve their next expansion phase. Their comprehensive financial operations platform is specifically tailored to address the distinctive financial obstacles encountered in the B2B SaaS realm. This includes handling and managing subscriptions, as well as recognizing revenue and expenses, and providing SaaS metrics and analytics to optimize performance.

Key features of Maxio include:

Maxio simplifies the process of subscription changes, allowing your customers to easily upgrade or downgrade their plans to suit their evolving needs. 

Whether adjusting quantities, adding or removing features, or incorporating new products, Maxio provides the flexibility to accommodate these changes seamlessly.

Pros:

• Easy to change subscriptions. 
• Offer automated renewals or early reminders for your sales team to reach out. 

Cons: 

• Difficulties to navigate the software occur. 
• If you make a mistake, finding out how the issue was created and how to resolve it is challenging. 

4. Recurly

Recurly is a platform for subscription commerce that enables SaaS businesses, among others, to leverage the power of recurring revenue models. With Recurly, companies can easily create and evaluate flexible plans and subscription experiences, allowing for seamless upgrades, downgrades, pauses, and cancellations with proration, ensuring subscribers only pay for the services they utilize.

Recurly integrates seamlessly with a diverse range of third-party tools and software to streamline recurring revenue management and ensure compliance. This includes CRM software, payment gateways, customer support solutions, and tax compliance software, providing your SaaS businesses with a comprehensive ecosystem for efficient and compliant subscription management.

Key features of Recurly include:

The software makes it easy to quickly manage subscription charges by removing any friction from modifying and updating subscriptions. With a shared view it allows your team 

to stay in sync with each other and understand your customers. 

Pros: 

• Uses many payment gateways.
• Excellent customer support.

Cons: 

• The report for transition doesn't show who completed the transition.
• When having multiple subscriptions and the customers subscribe to two or more, you can't group them into one invoice.

5. Zoho

Zoho Subscriptions prioritizes branding across the entire subscription journey, allowing you to customize invoices, payment pages, and customer portals to reflect your business's unique culture and profile.

Furthermore, Zoho Subscriptions provides an array of reporting functions to help you gain valuable insights. This includes dunning management for efficient payment collection, subscription metrics to track performance, discount and trial management for effective marketing strategies, and metered billing for accurate usage-based billing.

Key features of Zoho include:

With Zoho Subscriptions, you can optimize your subscription management processes while maintaining a consistent brand identity and harnessing powerful reporting features to drive your SaaS business forward.

Pros: 

• Integrates with other Zoho tools.
• Significant customizations are available.
• Easy payment collection.

Cons:

• Lengthy onboarding process.
• Limited customer support. 

Manage your subscriptions with Upodi

As your SaaS business grows and your number of subscribers increases, it's crucial to address emerging challenges and prevent customer churn while fueling your business growth. Your chosen subscription management software must be scalable to manage the growing complexity of billing processes effectively.

Upodi is a modern and reliable subscription management software designed to assist you in seamlessly handling all aspects of a subscriber's lifecycle, from sign-up to reactivation. With Upodi, you can effortlessly manage free trials, upgrades, downgrades, pricing experiments, recurring billing, dunning, and customer communication, all within a single, integrated platform – and its state-of the-art Open API.

Experience how Upodi is managing every stage of your subscriber's lifecycle; start a free trial: