Your business cannot afford to stand still in this digital age.
Due to continual innovations in the likes of data analytics, automation, and cloud technology, the SaaS subscription business landscape is changing at a rapid pace. As a result, SaaS providers are rethinking their software and transformation strategies.
Subscription businesses are built around customer experience. The more valuable the experience, the more business you’re ultimately going to receive. Customers are demanding more today, with more divergent needs. Your SaaS platform has to possess a high level of agility and a simple user experience if it wants to keep its customers.
This is where a robust, flexible billing solution – such as Billforward – could help you take a leading role.
With this software solution in place, your subscription business can jump to the next level in delighting customers with simple billing. To emphasise this point, below are the main positives you stand to gain from undergoing a digital transformation.
Increase in productivity
Subscription management is far from straightforward. This is particularly the case if you utilise multiple pricing components and quantity-based pricing. Processes such as cancelling or restarting, or placing a hold on subscriptions is also time-consuming. With an automated billing solution, however, you can significantly reduce the need to use up precious resources. Repetitive tasks that cause some of the biggest headaches to your billing, customer support and marketing teams are eliminated.
Our REST-based API technology allows our platform to fit seamlessly into your existing technology stack too. This means your team can control and manage all of your customers and subscriptions without leaving your CRM platform.
When you manage the billing for digital subscriptions manually, this opens the door to a significant issue: human error. Even if employees double-check their work and try to do everything to cut out these errors, it’s only natural that mistakes crop up every now and again.
With an automated billing system, this massively reduces the possibility of costly mistakes.
With a complete digital system in place, billing is more than simply a way to receive payments. It’s also a great resource for gaining real-time insights into revenue and customer behaviour. This type of data is powerful, allowing you to improve your services and make stronger decisions based on actual results.
Reduces IT and processes costs
One of the biggest advantages of digital transformation is the money you can save in almost immediately. Yes, you will need to spend some time getting set up at the start, but quickly you will see savings coming through in time spent on billing and correcting mistakes.
Ultimately, an automated billing solution helps to reduce the amount of time and resources that need to be invested into your subscription management operations. Outsourcing to a software provider – instead of going the in-house built route – also ensures your IT team isn’t distracted from other tasks that add value to your business. Without the headache of managing a homemade billing solution, they can free up their time for more important tasks.
If you are trying to grow your business it makes sense to automate wherever you can – specially in boring and error-prone processes. Yet it’s also important that any purchased software solutions don’t interrupt your current system. The good news: our API-first technology is built to seamlessly integrate with your existing technology stack.