As consumers become more comfortable paying for goods and services via the subscription model, demand has increased significantly for cloud billing software. Customers want subscriptions – it eliminates the hassles of purchases, returns and ownership – and companies want to increase opportunities for profit and business flexibility while still keeping control of costs. Cloud billing solutions offer the benefits of cloud technology to the subscription business model. This is leading to the technology’s increased adoption across several industry verticals.
Cloud-based Subscription Management Software
Cloud-based subscription management and billing solutions such as SubscriptionDNA are scalable (so they can grow with your business as needed, or expand and contract with business cycles) and allow for streamlining of the billing process, which helps improve customer satisfaction. Cloud billing solutions also lower upfront costs for companies engaging in the subscription model, since real-time, multi-tenant billing systems are maintained by the solution company. (This reduces companies’ need for IT resources.) Cloud-based subscription platforms enable billing accuracy and management of large volumes of data in real-time without the headaches of maintaining the back end. Companies can also use them to implement paywalls for premium content.
New research has shown that the demand for cloud billing for customer subscription management will grow at a double-digit rate for the foreseeable future. Driving this growth is the increasing need for reducing operating expenditure as well as customer preference. While much of the growth will be in media and entertainment sectors, the subscription model is also being embraced for cars, prepared meals, clothing, personal care products, pet supplies and more. In preparation for this subscription-based economy, companies need to be prepared to put a robust and reliable billing and communications foundation in place.
Integrate Subscription Functions
SubscriptionDNA provides a software-as-a-service (SaaS) platform that integrates subscription billing, subscription management, paywalls, and authentication, providing customized front-end options so customers can log in and manage their own accounts. Companies can use the solution to automate recurring invoicing, analyze and report, communicate with subscribers, engage in email marketing, process transactions, generate payment requests, track member login statistics and more.