Subscriptions are an increasingly common sales approach with hundreds and thousands of mobile applications, online work, and various other work that invite customers to get an extended time of service. Subscription management software stores the payment data and processing charges to automatically take care of the recurring revenue like customer subscriptions. Subscription management software also adds to a payment gateway with one-time payment functionality. Subscription services can even retain customers, billing and invoicing process, customer support, customer help desk, etc. The software and tools here solve this relationship and make out a better subscription. With a subscription package, you get to charge clients according to the time they consume your services. Whether it’s a one-time payment or in the form of monthly dues, getting paid via subscription is an efficient way to make sure that your company’s efforts are well-rewarded.
Why Subscription Management Software Important In 2021?
The payment system saves your time by increasing your revenue. The billing software will immediately send invoices to the clients without any hustle.
The payment system is the most secure. The billing software of the USA is the most secure system. They create a safe online payment system.
The online payment system is the most flexible as it is user friendly. It creates a robust system and improves performance.
It saves the start-up cost and allows to research in the market.
Free From PCI compliance
For having a credit card facility, we need to have PCI compliant software.
Multiple Payment Gateways
The billing software gives you several online payment gateways. And this helps to bring the flexibility of choosing worth.
This system lacks payment systems. This helps in providing us information, outstanding accounts.
This system helps in sending the notification and receipts in case of fail payment.
Top 5 Best Subscription Management Software
Pabbly Subscription is a total solution for selling and managing the subscriptions and their customers. In Pabbly Subscriptions, a single client can purchase various plans with the same email address. They can also provide their customers with the client portal to see and edit their details. Several features like no per-transaction fees and even the affiliate management system make the application uniquely compared to the other ones.
- It is a cloud-based accounting that helps in small and midsized business enterprises.
- It helps its customers manage and automate their subscription billing, such as accepting recurring and onetime payments and creating and sending invoices.
- It allows users to create multiple subscriptions and plans but with a single email address.
- It has a powerful built-in feature- sales analytics. It gives insights on essential tools such as total sales, refunds, canceled subscriptions.
- It supports and accepts multiple currencies and multiple payment gateways.
- It generates invoices that can be managed from a single dashboard.
It offers both monthly and yearly subscriptions.
Monthly subscription: It offers a package that integrates the functions of different software at a lower fee. The other software includes Subscription Management software, Affiliate Management Software, Integration, and Management Costs. Pabbly monthly subscription starts from $6/month, which includes up to 50 customers.
The package Pro, which is the most accommodating, starts at $49/month, including infinite customers.
Yearly subscription: For annual subscription packages, you have to pay for ten months. Which means two months service is free. One can enjoy benefits while purchasing a yearly subscription.
Chargebee provides various options that will help the client meet their customer’s every need and expectations. Chargebee offers the client the flexibility to configure one or more of the supported payment methods as per Chargebee rules and for a customer to best suit their business model, their country of incorporation, and their customer base. Products and services should be adequately and effectively modeled in Chargebee for their customers so that they could be able to bill their desired customers. Even after evaluating other space players, Trail chooses Chargebee as their preferred partner for providing subscriptions for proper management and automated billing.
- Chargebee integration- Chargebee now integrates with RevLock to automate and ensure financial compliance, such as Accounting Standards Codification (ASC) 606 and International Financial Reporting Standard (IFRS) 15 guidelines.
- Introduces Multi-Region Data Hosting – Chargebee’s global data center structure has been extended to operate in the European Union(EU) region in compliance with the data protection rules in the EU.
- Handling Brexit Impacts in Chargebee- The Brexit-specific changes are available for the customers to update their Chargebee site as applicable. You can update your tax settings according to the new set of rules starting January 1st, 2021.
- Select events for webhooks – If you have too many webhook events to handle. You can select precisely the events that should be delivered to each of your webhooks.
- Advance Invoice Improvements – On configuring and raising advance invoices in Chargebee there, it comes with a new UI (User Interface) and all-new features such as advance invoicing schedule, consolidated invoicing for advance invoices, and so on.
For new business: Chargebee offers free services to the new business owners. For the first $50k revenue, it charged $0 for the subscription.
For growing business: Two different subscriptions are there for growing companies – Scale and Rise. Ten users can access the rise at a time, and it is priced at $299/month. Scale can be accessed for 25 users. It is priced at $599/ month.
For enterprises: It offers flexible and tailor-fit packages for large enterprises to advise anyone interested in contacting them personally.
Recurly is one of the flexible subscription management software, and it was founded in the year 2009. It offers you better and advanced features than other subscription management software. Further, it provides multiple payment gateway building models, a payment option for collecting the revenue fast. It is easily integrated with other app and allows you to share data with other devices. It helped the user to increase revenue by creating unlimited plans. For using Recurly, no experience and expertise are required because it is user-friendly software. Additionally, it offers you free trials for 30 days for testing the features without a credit card. The key metrics help businesses know their current position and improve business by monitoring recurring billing.
It offers you various excellent features and the most popular features of Recurly are as follows.
- Allow user to give their plan to close one.
- Enable you to automate communications and multiple payment channels.
- Enable you to generate more revenue by creating unlimited plans.
- It offers You various features like dunning management, account update, taxes, coupons and discounts, easy implementation, and many more.
- Enable you to integrate with other devices quickly and offers a user personalized customer service system.
Recurly offers you both a free and paid plan at an affordable rate. It also provides you a customized plan according to your need.
Free trial- Recurly offer you a free trial for testing the product features for 30 days. The customer gets a golden opportunity to use the product & features. They also compare product benefits with their requirement.
Core package- Recurly offers you a core package at $99 per month. Under this plan, you get all the necessary services, and it is suitable for those companies that offer only credit card payment options.
Enterprise package- Recurly offers you an enterprise package at $299 per month. This plan provides you various payment options and helps the customer to stress-free from payment worries.
Custom package- Recurly offer you custom packages when you don’t feel satisfied with the above package and sales team of Recurly contact with you and understand your requirement & create a plan according to your needs, helping you run your business.
Zoho is one of the high-speed and accurate subscription management software. It automates all your recurring payments. It supports both iOS and Android devices. It integrates with an invoice, bookkeeping, CRM, and many more and provides you detailed reports and documents related to payment summary. Zoho helps you to solve all your payment hassle by offering various benefits. Benefits like automating retry settings, notify you about changes, information sharing, cloud integration, and custom integration, Zoho book integration features.
Zoho offers various features for the smooth payment system of businesses.
- It is suitable for both traditional and modern payment gateway.
- Zoho automatic the billing system, and there is no need to prepare manual bills anymore, and it also sends details related to a new offer to customers.
- It offers you both offline and online payment systems with various discounts, coupons, and ads.
- It enables you involuntary churn facility.
- It integrates with stripe; we pay, Paypal Razorpay, WorldPay, and many more.
- It builds a relationship with the customer by providing information relating to card expiration.
Zoho subscriptions management software offers you a great plan with ultimate features.
Free trial- You don’t need to pay money for this plan, and you get 20 subscriptions & 1 user. Under the free trial, you get 24/5 email support, offline payment, and many more.
The basic plan is that the cost of a basic plan is $49 per month, and you get 500 customers and three users. It is one of the famous plans of Zoho.
Standard plan- the cost of a standard plan is $99 per month. You get 2000 customers, five users, multi-currency support, web tabs, and many more.
Professional plan- the cost of a professional plan is $249 per month. You get 5,000 customers, ten users, and ten automated modules.
Nummuspay is subscription management software. It provides you with advanced billing tools that help you to manage payment systems for online businesses. You can easily create customize an invoice, calculate taxes, and many more. It is suitable for all types of companies, whether it is small or large. It offers you premium features like payment gateway, integrations, revenue retention, fraud preventing tools, and tax management. It provides you great billing solutions by finding the best deal for you after negotiating with the banks.
Nummuspay offers you enormous features. Below is the list.
- It creates a customized invoice.
- It supports mobile payments.
- It offers you project billing, contingency billing, and recurring billing.
- It helps you in calculating tax and dunning management.
- Helping in payment processing.
Nummuspay offers pricing in different versions.
Free plan- you don’t need to pay money for this plan. You get 2.5% of revenue and 0.10c per transaction.
Start-up plan- the cost of this plan is $99 per month. You get 0.5% revenue after $50000, multiple payment gateways, custom checkout pages, and numerous email templates.
Growth plan- the cost of this plan is $249 per month. You get 0.5% of revenue after $75000, unlimited API keys, zero accounting integration, Automatic Exports, and unlimited webhooks.
Enterprise plan- This plan’s price is not available; it depends on the customer’s requirement. Simply, it is the custom plan.
As we discuss the top 5 subscription management software, we noticed that all the subscription management software mostly offers similar features; there is only a difference in all the subscription management software’s pricing policy. There are specific points that we have to look at before purchasing any subscription management software. Features like unlimited subscription plan, online payment process, tax, discount, recurring billing, cloud billings, and much more. All this subscription management software offers a free trial and an open plan for testing the software’s features. Before buying any of the subscription management plans, it is essential to check that it satisfies your business’s requirements.