Leverage Subscription Management Platform for One-Window Operations and Attain Business Excellence

The emerging technologies and the new disrupting business models have empowered the business landscape like never before. From wholesale and retail businesses to SaaS and rentals, they are facilitating the merchants from across the avenues to explore revenue and growth opportunities for their businesses.

The new-age subscription-based economy further paves the way for every business entity to flow a stream of recurring revenue along with the ease, convenience, and speed offered by the subscription management software as a consolidated platform that offers all in one place.

It is not necessary that businesses with more resources, bigger team sizes, and an expanded customer base can only attain business excellence. Using an advanced, customizable, and affordable subscription management platform, businesses with limited resources and teams and a smaller customer base can also leverage the data to drive more revenue and growth into their subscription businesses.

This article explores what are the different obstructions small businesses have to face and how the subscription management platform gives them the wing to fly high and keep themselves stable and profitable.

How Subscription Management Software for Small Business Is An Ideal Solution?

When small subscription businesses dive into new markets to explore revenue and growth possibilities, the risks associated with subscription handling, data sharing, tax assessment, online payment processing security, market capturing, personalized customer services, and others become progressively real.

To avoid these hurdles, a consolidated, simple, accessible, and flexible solution is required. The subscription management software for small businesses is an answer to all these concerns.

SubscriptionFlow is apt for small businesses as it offers cloud-based recurring invoicing and billing experience to businesses, check-out, leads tracking and capturing, payment processing through multiple payment gateways via several payment methods, and a highly customized dashboard with SaaS monitoring and reporting system for all the automated tools available at one platform.

Here are a few ways that ensure the key businesses process management using a scalable, smart, and flexible subscription management software for small business:

• Subscription Handlng and Subscribers Management

From organizing customer’s details and using the data from across the integrated platforms to capturing the lead and supporting the management of the sales and marketing funnel, CRMs play a huge role in facilitating the streamlined workflow. The built-in CRM of the subscription management software is one of the most effective tools in business processing management.

Subscription software with an advanced CRM offers insights into the patterns, trends, and behaviours of the customers to learn more about the customer preferences and interests.

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The analytics in the subscription software uses this data to find key performing indicators called KPIs. These KPIs are used to monitor, measure, and manage recurring revenue. Some of the widely-used KPIs are MRR, ARR, CR, CAC, CRR, BNC, VC, and more.

Integrating CRMs with communication management software is a great way to track, measure, and optimize communications across internal and external audiences.

• Recurring Billing, Payment, and Revenue Management

Subscription management software is also called recurring billing software.

Today, the subscription management software is used as a one-stop destination to manage all in one place—from ordering, invoicing, billing, taxing, payment processing, and managing recurring revenue. It can manage it all through automation and integrations.

SubscriptionFlow is a highly flexible subscription management platform that allows third-party integration to leverage the data from across the stacks and enhance the overall personalized customer experience for the businesses.

Small businesses with constrained resources can use it without dedicating the resources, budget, workforce, and efforts. It is software that allows small businesses and startups to automate the whole process of recurring billing by eliminating the needs of doing repetitive tasks time and again.

The subscription software integrated with online payment gateways makes it easier, safer, and faster to get paid. On the other hand, the Machine and Deep Learning trained modules better detect the payment fraud risks using customer data available through the different integrated applications.

Likewise, through a range of integration including Avalara, Sage Intact, Salesforce, and other—small B2B and B2C businesses can easily manage all their accounting, tax, inventory, finance, supply chain, and many other standard business operations.

• Data-Driven Sales and Marketing Management

The sales and marketing dynamics of the subscription market is different from the other models of revenue. It is crucially based on customer retention. Subscription businesses have to focus more on retaining a customer by creating upsell, cross-sell, and resell opportunities for them.

To manage inbound marketing, subscription software is quite flexible to integrate with multiple marketing applications like MailChimp, HubSpot, InfusionSoft, ActiveCampaign, and more.

They are used to automate and manage the marketing operations and communications leveraging customer data from the subscription and other integrated software to draw traffic and attract sales prospects.

Similarly, sales management software like PipeDrive, HubSpot Sales Hub, Salesforce, Quickbooks, and others can integrate with the subscription system quite well when it comes to capturing and managing the leads to convert them into paid customers.

They help merchants to better concentrate on the factors that attract more revenue opportunities like price optimization, multiple billing models support multiple payment gateway requirements, and many more.

• Customer Support and Services Management

Customer Care is the most vital business process management. It ensures strengthen and enhanced customer relationships. When customer support and service SaaS integrates with the subscription management software, it supports the customer support with the detailed insights of the customer data, such as billing, payment methods, currencies, transaction history, SaaS usage, and more to help support agent resolve query tickets immediately.

Integration of Support Management Software like ZenDesk allows customer support agent to take advantage of the following features and provide the best services while optimizing the data for:

• Personalized Interactions
• Live Chat
• Email Support
• Customer Care AI-Bots
• Knowledgebase for Customer Service
• Call Centre Features
• Community Forums Features
• Workflow Configuration

To Sum Up…

For any subscription or recurring billing business, it is inevitable to go with the automated subscription billing and payment management software that can help subscription businesses systematically continue their recurring billing and payment collection without dedicating resources and hefty expenses.

The subscription management software automates the whole process of invoicing, billing, payment processing, and recurring revenue management through secure and reliable integrations.

Integrations is a solution to manage all as one window operations. They ensure that the business decisions are based on actual business data and insights. They are also capable to fairly share the data across the platforms.