Scaling Your eLearning Business with Recurring Billing Software in 2022

eLearning is a new emerging industry climbing up the ladder quickly. eLearning was not mainstreamed unless the pandemic hit the globe and changed the working dynamics. Discussing pandemic with special reference to eLearning is inevitable for the fact that universities, educational institutions, and platforms adopted the online learning policy.

With strong roots in statistics, research unveils the fact that the eLearning market is expected to grow by over $240 billion in 2022.

eLearning comes with its own challenges and a few of them is business sustainability, business growth, better revenue potential, and much more. All of the challenges are linked to a holistic billing system that can manage all the processes without halting the operational needs and functionality of the business – Recurring Billing.

What is Recurring Billing?

Before getting into the recurring billing solution, one must have an understanding of recurring billing. Recurring billing is a process to charge customers after a regular interval again and again. These recurring intervals could vary from customer to customer and can be set up as quarterly, monthly, and so on., as they prefer that to be.

Running a recurring business can be a cumbersome task especially if there is a large user base. Coming to billing management and payment processes, handling an extensive database, and financial processes without systemized platforms can lead to several menacing risks such as revenue leakage, involuntary churn rate, payment failures, and much more. To deal with all challenges you need an agile business model and a comprehensive platform to shoo them away by leading new horizons your way.

Leading New Horizons For eLearning Businesses Scalability

Business scalability is not a child’s play as it takes a lot of effort to take your business to advanced levels. The E-learning and education management industry is now rapidly capitalizing on Subscription Business Model. This gives an unprecedented boost to the industry with more predictability and reliability.

With tech advancement and progressing automated systems and systemized processes, automated recurring billing and payment processing has become vital for e-learning businesses.

Let’s begin to look into how recurring billing software can help you to manage your eLearning businesses most robustly.

Make Systems Flexible

System Flexibility goes hand in hand with robust and agile software that can provide a great user experience. With a subscription business or recurring billing model, the education industry must provide a world-class experience to customers/students including relationship management, billing, and payment processing.

Running a successful business is always about facilitating your customers with the best experience where they can get satisfied with the services they plan to buy. Managing recurring billing in 2022 has gotten a lot easier with recurring billing software as it provides rapid experimentations with plans, bundles, free trials, and much more.

You have done your part.
Let SubscriptionFlow take it from here!

Let us help your business grow with our powerful
subscription management software.

Schedule a Demo

As the eLearning business covers educational customers predominantly, it is always required to provide learners with different trials to know more about courses, learning curriculum, and much more. With a robust recurring billing platform, you will be able to make your system more flexible whilst proving a seamless customer experience.

All-inclusive subscription management and recurring billing software like SubscriptionFlow is an ultimate stop to managing all your customer relationships, recurring billing, payment processing, and revenue management needs.

User-Friendly Payment Methods

eLearning platform serves globally. It is needless to say that, for eLearning platforms, students gather from different areas, cities, and countries hence an extensive network. Dealing with customers from all around the world requires robust and agile systems that cater to the needs of learners and customers from the maximum places.

A recurring billing system like SubscriptionFlow enables the eLearning businesses to give customers a maximum number of options for all the payment methods with customizable checkouts, refunding systems, payment collection systems, and other various payment solutions.

SubscriptionFlow also facilitates merchants with the integration of multiple payment gateways such as Stripe, PayPal, Authorize.net, and much more. Thus, customers will get a seamless experience of payment processing without any interruption.

Read more: Experience Subscription Software Integration With Authorize.net

Clear Visibility to Subscription Health

Subscription business health is directly proportional to understanding insights about your customers. Getting insights into business health requires having an understanding of the customer’s journey, customer behavior, and customer persona. Its intelligent recurring billing and revenue management provides analytics and insights, you will have complete knowledge of business workflow and pristine insights into:

• Revenue Potential
• Revenue Leakages
• Churn Rate
• ARR & MRR
• Refunds
• Recharge backs, and much more.

Having clear visibility helps to manage prospects for the eLearning business and also in scaling it. Making the right plans, strategies, and roadmaps for eLearning businesses would prove to be fruitful in your business growth.

Capitalizing On Global Opportunities and Global Expansion

As we all know that eLearning is one of the global platforms at which customers gather from several countries around the world. With that being said, you will need to break all the barriers that come in the way of leading your business globally and manage the payment processes such as tax compliance, regional tax laws, providing multi-currency, and multi-language support seamlessly.

Tax Compliance, Multi-currency and Multi-Language Support

Tax compliance and sales tax management for your eLearning business are necessary to keep your business running smoothly. With SubscriptionFlow integrated with Avalara, all the relevant tax management will be done with automation. SubscriptionFlow’s additional tax compliance serves to localize vendors and customers by localizing their currency considering the needs of the sales tax based on the region.

Supporting multi-currency enables customers to become worry-free about choosing a specific currency. Our recurring billing software will convert them to the target currency for easy payment processes.

Invoicing & Billing Automation

Automation and artificial intelligence are the backbones of IT industries and online platforms. Invoicing & billing management systems that are powered by automation, and regulated with artificial intelligence play a key role in handling daily tasks.

With the help of our automated billing system, your clients can get automated invoices with all the relevant and customized details. With robust billing management, your customers will be able to select different pricing models that suit their interests best.

Equipped with payment recovery, communications, and workflow automation, SubscriptionFlow also communicates with the customers through emails by reminding them of the due charges, due dates refunds, payment failures, and much more.

Read more: How Automated Recurring Invoicing Management Empowers Global Subscription Market

For eLearning businesses, SubscriptionFlow will facilitate with:

• Workflow Automation
• Support For Various Pricing and Billing Models
• Robust Invoicing and Billing
• Versatile Integration Options
• Integrate Multiple Payment Gateways
• Safe, Secure, and Seamless API Management
• Inclusive Recurring and Subscription Billing Features
• Reporting And Analytics

Schedule a demo with SubscriptionFlow and take your eLearning business to heights.