Owning a Software as a Service (SaaS) company requires you to have the best solutions for managing transactions and billing cycles. These help with predicting your recurring revenue (whether annually or monthly), reducing customer churn, and recovering fees associated with declined payments (dunning management).
Subscription management resources for SaaS businesses are a great solution in such a case. With the right solution, you’ll effectively manage subscriptions and get consistent revenue for your business.
Don’t know where to start? Here are some of the best subscription management resources for your SaaS business.
Hands down one of the best cloud-based platforms for SaaS businesses that want reliability in customer management, payment processing, and recurring billing processes. Cleverbridge is designed as a unified platform that presents managers with churn analysis dashboards that make SaaS subscription management easy
What’s more, you can create custom reports, track invoices, and even give offers to your customers from the same platform. Some of the best features that you can expect from this tool include:
- A self-service portal
- Analytics and Forecasting
- Data synchronization
- Cash flow management
- Dunning management
- Subscription management
- And more.
This tool comes with an Application Programming Interface (API) that makes it easy to integrate with third-party systems.
Cleverbridge bases its fee structure on the percentage of transaction amounts. What this means is that you’ll be offered a custom price upon request, which makes sense to us since each business is different.
If you’re looking for a cheaper option that’s also easy to use, that’d be Stripe. Albeit more practical for smaller businesses, it still offers advanced features and is quite reliable.
In addition, it supports a wide range of payment options and employs advanced security for payments. Also, you’ll enjoy easy integration with other software and platforms, without forgetting the advanced analytics and reporting tools.
You’ll get two main plans – the starter plan (0.5% on recurring payments), and a Scale plan (0.8% on recurring and one-off payments).
Like Cleverbridge, this is a perfect subscription management software for businesses that prioritize scalability. With this one, you can explore new revenue opportunities and keep your subscribers, thanks to features like proactive engagement and self-service.
Another thing you’ll love is the unified view of the customer and subscription information for targeted engagement. Want to make upselling easier? Chargebee has got you covered with the add-ons and bundle upgrade recommendations.
Chargebee goes with two main monthly plans – Rise ($299/month), and Scale ($599/month). Since they don’t offer custom pricing, discounting isn’t applicable.
This subscription management software is a great fit for small, medium, and large SaaS businesses. Among the best features to expect from Pabbly are:
- Easy integration with third-party systems
- A detailed customer portal
- Sales analytics reports
- Branded invoice creation without limitations
- No transaction fee
Pabbly offers the following three main plans:
- Starter ($6/month)
- Rookie ($24/month)
- Pro ($49/month)
What Factors Should You Consider When Making Your Choice?
The SaaS subscription management tool that you want to consider should have the following top features:
- Seamless user experience: Quite self-explanatory. Your employees and customers shouldn’t waste a lot of time just learning how to operate a subscription management tool.
- Customer lifetime management: You’ll need this to manage customers from the moment they first engage your business. Additionally, it makes it easier to automate the tracking process and upgrade or renew subscriptions.
- Flexible pricing: A wide range of pricing plans comes in handy, since businesses have different needs and growth patterns.
- Customizable subscription management: This provides convenience so that the customers of your SaaS business can create, modify, and easily manage plans.
There You Have It!
Four awesome software tools that will make subscription management a breeze. Of course, there are other solutions out there, but the ones listed above are great options to consider, regardless of your business needs.
If you decide to look beyond these, make sure to consider the factors mentioned previously when making your choice.