3 Reasons Cloud-based Billing is Perfect for Small Businesses in 2020

If there’s one thing all small business owners and entrepreneurs can agree on, it’s that time is important and being crafty to achieve efficiency is critical. With so many moving parts, it can be difficult to get everything needed done in one day. Limited resources also create a need to choose solutions that serve more than one purpose.

When it comes to getting paid for what you provide, nothing is more critical than the type of billing and invoicing software you use.

Modern businesses are online. They meeting customers on the channels they prefer and they’re creating a presence on social platforms. It only makes sense then, that they will bill customers online too. If you’re a small business in 2020, you need cloud-based billing.

Here are 3 reasons why.

Get Paid On Time

Time is money and getting paid is a critical part of being able to pay your own overhead, employees, bills and other expenses. Not only is paper billing time consuming it’s also hard to keep track of and delays the time you’ll get paid. With automated, online billing you’re more likely to get your customers to pay you on time and quickly.

Save Money

There are so many ways the cloud can save businesses money. Much of the costs saved through automation are translated into funds you can keep and use elsewhere. Employees won’t need to spend time working on invoices manually for example, and no need for additional IT staff to manage and update the solutions in-house also means cost savings.

Stay Secure

Security is on the minds of everyone today. If you want to protect your business data, it is far more secure to have that data in the cloud offsite than in-house stored on a local server. This can stop hackers and phishing scams from leading to bigger threats or breaches. If you want to remain reputable, put your customer’s data privacy first.

Subscription DNA provides a robust billing platform that cloud-based and makes invoicing, billing and receiving payments from your customers easy and hassle-free. Our packages start at $99 per month and are perfect for start-ups, small businesses, and growing businesses.

Contact us today!

Report: Telecom Cloud Billing Market to Surpass $10B by 2024

Cloud billing is a beneficial solution for any industry or business that needs to process invoice or bill clients. Not only does it save significantly on the cost to maintain or process the payments manually and in house, but there are also a plethora of advanced features made available to users- even start-ups that they likely wouldn’t have access to with traditional billing platforms.

In telecom, where the return on investment is critical and new communications technologies continue to emerge, it is especially critical that providers have a billing solution customers agree with and providers can utilize.

One recent report, “Global Telecom Cloud Billing Market 2020-2025” predicts that optimistic growth in the market will allow the market size to grow to $10490.0M by 2024.

Benefits that have helped the market to maintain growth over the last four years despite other market downturns include the ability to lower operational and administration costs and well as growing mobile subscriber rates and the increasing need for real-time billing and bundled services.

According to the report, the Telecom Cloud Billing market maintained an average annual growth rate of 0.154221197949 from $1545.0M in 2014 to $3165.0M in 2019.

Upcoming expansion in the market will be seen in areas such as the APAC region as the very large population in the area will see subscriber bases grow across telecom companies.

If you’re looking for a simplified way to do cloud billing for your business, we can help. Subscription DNA offers a powerful SaaS platform that can easily integrate subscription billing for you as well as offer you robust subscription management, paywalls, and authentication features.

3 Tips for Subscription Companies During the COVID-19 Outbreak

It’s not secret that the COVID-19 pandemic is affecting many different industries–and the subscription industry is no exception. Gyms, magazines, SaaS and paywall-centric companies seem to be getting hit the hardest. Even in the face of uncertainty, though, many subscription companies can take steps to not only stay afloat, but thrive. Here’s 3 tips to consider.

Adjust Your Freemium Models to Retain Existing Customers

Now is the time to hold on to what you have: your loyal customers. Rather than shut your existing customers out from your services, offer whatever you can for free. For example, many gyms that were forced to close have both refunded their customers and started to offer virtual work out classes for free. These actions keep their brand awareness alive. When this is all a thing of the past, customers will remember who had their backs. 

Embrace Online Video Services

It’s amazing how much you can accomplish online today. It’s no surprise that subscription streaming providers like Netflix, Hulu, and Amazon are thriving right now; nor is it shocking that grocery delivery services are thriving either. If this is not inline with your capabilities, then consider producing educational content. Colleges aren’t the only ones who’s online courses are in demand. From music to computer lessons–hobbyists and career-driven individuals are always looking to learn new skills. Rather than go to or back to college–and endure the high costs of attendance–people are turning to online courses. If you’re a SaaS company, is there something you can try teaching? If it’s not specifically related to the product, maybe you can offer software development courses.

Show Your Support to The World & Keep Marketing

It’s important to let potential customers know that you’re flexible and supportive. Free incentives are always welcome, but so too is the acknowledgement that everyone is in this together. Don’t let the outbreak stop you from marketing your services or products either: now is the time to stay active on social platforms. Continue to post regularly while actually interacting with the community too. If something catches your eye from a connection of a connection, then like, comment and share! This will create much-needed awareness. Be genuine, supportive, and attentive; in time, old customers will return, and new customers will find you. 

Subscription Services Growing in the TV Sector

Over-the-Top (OTT) video which is better known by many as streaming video, is growing in popularity today. From Netflix to Hulu and even brands launching more personalized services like Disney +, there are so many reasons why this market continues to explode today.

Recent predictions from ABI Research show that subscription services and advertising will contribute to an increase in revenues for OTT video and growing it to over $200B by 2024.

In addition to the new brand TV services, there is also an aggressive push for more affordable pricing and package offerings that are fueling the uptick in this market. Even beyond the U.S., subscription video on demand is soaring.

In markets such as the Asia Pacific, the report found that services from iQIYI/Baidu, Tencent, Youku, and others are helping to make subscription TV services delivered over an Internet connection and part of a pay-for plan so popular.

With the internet and mobile technologies also advancing, this will only continue to bolster the market as well. 5G networks and next-gen OTT services offer greater speeds and security while improving latency and capacity to stream this type of content.

“Cord-cutting is often regarded as a consequence of expanding OTT consumption, but the market dynamics are more complex, particularly when one considers how the pay-TV industry has embraced OTT as a complement and value-additive, rather than strict competition. Over time, we expect the traditional pay-TV offer to continue to evolve and become indistinguishable from a pure OTT package of services,” said Michael Inouye, Principal Analyst at ABI Research.

“Increasingly, we’re seeing more solutions and conversations about bringing content and services together. This includes pay-TV and OTT bundles and extends to cross-platform advertising, analytics, and customer/service management. Ultimately it makes the market more accessible to a wider range of companies and expands the potential video touchpoints, particularly as new technologies like 5G, smart home, and Augmented/Virtual Reality play larger roles.”

Give Members Control with a Secure Subscriber Portal!

Subscription services give customers a convenient way to receive products they like without having to make individual purchases and transactions. They can simply sign up for a service, enter their payment and delivery information, then sit back and receive regular deliveries.

Sometimes customers need to update their billing or delivery information or want to change their subscription plans. Calling customer service can be a hassle, especially if members have to wait on hold. In today’s hectic world, many people simply don’t have the time or patience for that. They want to be able to make changes quickly on their own.

How Subscription DNA’s Secure Subscriber Portal Works

Subscription DNA offers a Secure Subscriber Portal that lets members manage their own accounts so they can make changes to the subscriptions they have chosen and update their payment methods and other information. Users can also view their transaction histories if they have questions about past orders.

If you have more advanced needs, we offer a web services API that you can use to develop your own solution. You will also be able to push and pull subscription data into your application as necessary. Our PHP Sample code can make it easy for you to quickly create a functional working model.

How Our Secure Subscriber Portal Can Benefit Your Business

In addition to providing convenience for members, our Secure Subscriber Portal can keep your company’s costs down. Instead of employing a large, full-time customer service staff, you will be able to have a leaner team and encourage members to resolve issues themselves online.

The money you save on salaries and benefits can be used to grow your business. The savings can also be passed on to members in the form of competitive prices. Customers who can get a bargain from your subscription service will be likely to choose it over others, which will help you grow your market share and improve your bottom line.

Make Things Easy for You and Your Customers

Consumers value convenience, and that is particularly true of customers who sign up for subscription services. They enjoy the ability to receive products they enjoy on a regular basis, without having to invest a lot of time making decisions and completing transactions.

Subscription DNA makes it simple for businesses to manage subscriptions by automating recurring payments. With our Secure Subscriber Portal, members can view and update their information easily at any time. That can create a positive experience for customers while keeping your company’s costs under control. Contact Subscription DNA today to learn more.