Everything related to Upodi and the Subscription Economy
Your company is about to launch a fantastic product or service with tons of top-notch features. There is just one vital thing to take care of - pricing. You want happy clients, but you also want that ROI. How to find the golden middle way? There are a few aspects to consider as you develop your pricing strategy. If you get those right - you are well underway to keeping both your customers and yourself happy.
As your SaaS business grows and you start scaling, two things happen: the pressure on your tech stack rises, and the workload on your employees increases. Subscription billing complexity reaches new heights, pushing you to explore new setups or solutions.
If you run a SaaS company, you must have felt the pain of customer churn. There can be many reasons why customers are leaving, but more often than not, one of the main factors is how you manage subscriptions. Do your subscribers have payment options? Can they pause their subscriptions? Do they have a good user experience?
If you run a software company yourself, you already know that the SaaS business model, for all its benefits, comes with its own challenges. With a few recurring revenue streams and varied pricing, billing management can quickly become a burden. Manage increasing billing complexity with success by following a few billing best practices.
There are many ways to earn money as a SaaS business. And whether you are just starting out or already have an established subscription business, you can always explore alternative SaaS recurring revenue models to increase profit.
Your subscription-based business is booming and you are ready to scale. Yet you have concerns about how this could affect your recurring billing management.
The day is here. Whatever solution you have for managing your recurring billing - you realize it just doesn't cut it anymore. You are tired of how long it takes to handle invoicing, ARR calculations manually, dunning, or subscriptions and are ready to automate these tasks.
Revenue collection is a vital process for any recurring billing company, regardless of your subscription business model, and this is why it is crucial to ensure its proper management.
As more and more companies shift their business towards recurring billing, you may be sitting thinking: what is it exactly, and is it worth the fuss?
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?
YOU ARE SLOWLY COMING to your senses: “What’s going on?”
Your head is buzzing… and you struggle to see things clearly.
Gradually your surroundings emerge before you:
❓ Do you know this?
💡 You have a brilliant idea. [your brilliant idea] on subscription!
You just need a website, a payment solution and a subscription engine, and you're ready to:
[PSP = Payment service Provider red.]
A question I often receive is if Upodi is a PSP (Payment Service Provider).
The short answer is: no it is not.
At first glance, the subscription business seems simple. Customer chooses a plan, gives you their payment details and you charge them once a month. But how would this work under the hood?
A story from real life.
We have success – we internationalize!
But can we do that?
… That sounds boring.
Nevertheless, this is the reality in many companies - it takes an incredibly long time, it is manual (read: high risk of error) AND lack of proration means that you potentially lose revenue (read more about proration here).
Wouldn’t it be nice if you could have a glimpse into the future?
For example, wouldn’t it be nice if you could foresee missing payments before they were missing?
When we talk subscribers, many people think of mobile and the internet - and maybe Netflix, Spotify and fitness?
Classic subscription schemes where we pay and fast bend once a month, and then a form for goods or services is delivered.
Using a subscription model is a fantastic way to help you compound the value of your customer relationships. Rather than working hard to get customers multiple times if you want them to make repeat purchases, a subscription model allows you to acquire the customer once.
6 Tips for Choosing a Subscription Billing Platform
Is your business considering signing up to a subscription billing platform for the first time, or considering changing how you manage your subscriptions?
