Is your business model subscription based?
Currently, there are softwares that can make your management work easier. A subscription business model is a current trend for the sale of products and services, and a clear example that lasted for years is the business of consumer insurance products.
the main advantages of using a subscription business model are the following:
- Recurring billing generates predictable income.
- Drop-out rate reduction.
- Ease of cross-selling.
- Trials (free trials to test the service).
Why manage subscriptions with softwares?
Handle your customer subscription billing life cycle from end to end. Zoho Subscriptions allows you to automate recurring billing, manage subscriptions, send professional tax-compliant invoices, and get paid on time, every time..
- Pricing plan information
Add flexibility to the signup process by providing multiple plans, add-ons, and coupons. Give customers the freedom to test out your offering with free trials.
- Payment collection
Collect online and offline payments via leading payment gateways. Make the checkout process a cinch with slick and secure hosted payment pages
- Billing experience
Set your invoicing on autopilot but make sure that it still reflects your brand. Store customer card information securely for convenient rebilling.
- Involuntary churn
Don’t lose customers to involuntary failed payments. Automate card retries to maximize your revenue.
What’s new in Zoho Subscriptions?
Zoho is constantly releasing user-requested updates that simplify business. Some of these features were developed to align Zoho Subscriptions with the other applications in the Zoho Finance suite. This creates a shared user experience.
Improvements for creating subscriptions
These upcoming features can reduce the amount of time you spend while creating new subscriptions:
- Create new customers on the fly: The + New Customer button at the bottom of the customer list will let you create new customers from a popup, without having to leave the subscription creation screen.
- Contextual customer details: Your customers’ details like their outstanding payables, credit, and recent activity can be referenced from a convenient sidebar while creating subscriptions
- Payment Links for ad hoc payments
This is a new feature that will let you request and accept one-time payments from customers by sending them payment links, which they can use to make online payments to you. These payments can be for miscellaneous reasons that need not be related to any subscriptions, such as an advance payment or a convenience fee.
- Payment receipt PDFs: Payments that were successful will be accompanied by PDF receipts, which you can choose to print, download, or email.
- Advanced search: Customer payments can really accumulate over time and become difficult to find. The new advanced search will let you search for them based on criteria like the date range, total amount range, and payment method
Improvements and new features for reports
- Revamped UI: Most reports will get a slicker UI, that’s more intuitive and puts commonly used customization features in places that are easier to access. Some reports will also get comparative percentage changes across different periods, along with the option to set expected figures as a benchmark.
In addition, temporary notes can be added and the reports can be shared, bookmarked (to view at the top of the page) and schedule their delivery.
Email Insights lets you keep track of the notification emails that have been sent to customers. You will be able to know if an email was opened, and exactly when it was opened, which can help in deciding when to initiate follow-up conversations with customers.
Having a software to manage subscriptions facilitates the correct operation of the business. You could avoid forgetting and save time.
At Etixen, we configure tailor-made solutions to each business and provide technical support to users.