How to Choose a Good Subscription Management Platform
Subscription management software helps in streamlining the billing process by enabling e-commerce to collect payments from customers through a plethora of payment options such as debit cards, credit cards, cash, checks, and many other payment gateways. Statistics demonstrate that over 40 million people visited subscription sites in 2019 and 80 percent growth from the previous year and the subscription business is said to continue rising, e-commerce are exploiting this opportunity by using subscription management software to manage their customer’s recurring billing efficiently and smoothly like Billsby check it out. Getting to know the ideal subscription management software to pick for your business can be confusing because of numerous subscription management software vendors and myriads of features you need to consider but there are general components a good subscription management software need to have, this article outlines some of these features.
Make sure the subscription management platform you are selecting is flexible, that is, it allows you to change pricing plans easily whenever needed, you need a recurring billing software that can handle migrations of subscription plans seamlessly and with less hassle something that will be relatively difficult to do manually see this company.
Always go for a subscription management platform that can automate, track, and monitor discounts, coupons, and promotions on the products or services your business provides, a reliable subscription management software allows you to incorporate and schedule discounts, coupons and other promotions automatically and easily.
When looking for a subscription management software for your business pick a billing management software that permits you to add your business information on the invoice, invoice branding is an important marketing strategy because it demonstrates your business as professional and improve its credibility, adding your brand information on invoices increases customers loyalty to the business an essential feature for a successful business.
You should consider subscription management software that supports a range of payment options, customers have different preference payment method when it comes to online transactions therefore, having a recurring billing software that enables a variety of payment option incorporated in your e-commerce improves customer’s experience which prompts customer’s confidence with your business.
Given the sensitivity of online transactions to fraud, pick a subscription management platform that is compliant with the payment card industry (PCI), this is necessary to ensure consumer’s financial information is secure and cannot be retrieved and used by online fraudsters, a good subscription management platform should absorb the burden of PCI compliance, this make sure your business is not fined in case client’s financial information is stolen find out now about PCI on this page. Those are some features of a good subscription management platform but also important to consider with a precise user manual.