SaaS subscription model allows businesses to sell licenses and subscriptions for B2B software services on a recurring basis. Providing organizations with a predictable revenue source, better customer engagement, lowered customer churn, revenue growth possibilities, and enhanced forecasting.
According to Gartner, by 2023, 75% of organizations selling directly to consumers will offer subscription services. The subscription business model is clearly here to stay.
But if the subscription billing is not managed properly, then you are bound to encounter bottlenecks associated with B2B SaaS subscription billing model such as:
Scalability: As the number of customers increases, it can become increasingly difficult to manage the billing and invoicing process, which can lead to delays and errors.
Billing and invoicing errors: Incorrect billing or invoicing can lead to customer dissatisfaction and potential loss of revenue.
Difficulty in managing multiple pricing plans: Offering different pricing plans can be complex and time-consuming to manage, especially if the plans have different billing cycles or require different levels of customization.
Adopting a billing and subscription management automation tool can help you resolve billing bottlenecks by automating many of the manual tasks associated with billing. Ways in which a billing automation tool can help, include:
Facilitating Scalability: Automation tools can help scale the billing process, allowing SaaS providers to handle a larger number of customers without adding additional staff.
Improving accuracy: Automation tools can help reduce the risk of errors by automating the calculation of charges, taxes, and discounts. This can help to improve the accuracy of invoices and reduce the need for manual adjustments.
Integration with external systems: Billing automation tools can be integrated with other systems such as CRM, ERP, and accounting systems, which can help streamline the overall process and improve efficiency.
If you are looking for a billing automation tool that can be integrated with Microsoft Dynamics 365 CRM to automate manual tasks related to subscription and billing operations such as generating invoices, sending reminders, offering different pricing plans for different products, and processing payments, then you are at the right place.
Subscription and Recurring Billing Management by Inogic is a Microsoft AppSource Preferred App that provides a robust platform for all subscription-based businesses to seamlessly manage and streamline subscription and recurring billing processes within Dynamics 365 CRM.
It simplifies complex billing processes, automates manual accounting, billing trends, and revenue forecasting, and provides valuable analytics about customer behaviour through detailed dashboards, that can help you make more informed business decisions.
So, let’s have a look at some of these amazing features of the Subscription and Recurring Billing Management App within Dynamics 365 CRM:
Subscription Scheduling: This feature allows you to define parameters, or terms and conditions, for generating invoices/sales orders for all ongoing and newly added subscriptions. The risk of human error is significantly reduced by automating the recurring process of generating invoices/sales orders. This boosts Dynamics 365 CRM users’ productivity thereby enabling B2B SaaS-based businesses to scale their subscription model in a time-efficient manner.
Support for various pricing models: Different pricing models are used for different products depending on a variety of factors. Subscription and Recurring Billing Management supports a variety of pricing models to ensure a seamless billing process for all subscription-based businesses, such as Flat Fee pricing, Per Unit pricing, Tiered pricing, Volume pricing, and Stairstep pricing.
Revenue analysis: MRR, ARR, ARPU, Churn Rate, CLTV, and other KPIs are important indicators of a business’s health. Subscription and Recurring Billing Management App provides an extensive dashboard that displays these metrics and assists in analyzing business performance over time.
This reporting and analytics assist in identifying problems and taking proactive measures to forecast and prevent future losses.
Sounds useful, right?
There are much more intriguing features to Subscription and Recurring Billing Management than what we can cover here. To learn about all of them and explore this exceptional app first hand, download a 15 day free trial from our website or Microsoft AppSource.
For a personal demo or further information, please email us at [email protected]
