Over the past decade, subscription business model has grown in such a way that it is now embraced by some of the largest industries and business sectors across the globe. One of the reasons for the growth is recurring revenue.
Recurring revenues allows companies to achieve a steady cash flow. Subscription companies usually charge customers monthly or yearly, which makes their revenue streams more predictable.
An automated subscription billing solution implemented with the different subscription pricing models can simplify your sophisticated billing activities. A reliable subscription billing system can assist companies in acquiring more customers and, as a result, more revenue.
Businesses, on the other hand, look for an effective solution with an extensive list of features to implement and maintain. SAP Subscription billing solution allows you to execute and implement the most complicated billing events. This results in their subscription services being enhanced and revenue streams significantly increased.
Automated invoicing
SAP subscription billing solution can create invoices and collect money from each user, minimizing revenue loss. And it integrates all transactions in one single invoice with a unified invoicing system.
It also prevents costly billing problems, such as lost contract renewals and inaccurate billing, all of which have a massive impact on income for your organization.
Notifications and reminders
Today companies have developed a connection with consumers, depending on customers’ preferences, to bill and invoice according to a specified timeline.
This enables companies to charge consumers on a certain day or to create customized billing deadlines for every customer.
Automated email notifications and reminders are essential for any business that wants to keep consumers informed about upcoming charges or due payments. Make sure that your customer churn is automated and drastically reduced.
Real-time reporting
To monitor real-time performance and identify possibilities for enhancements, SAP subscription billing gives various reports and analytics. This helps organizations to discover vital information, like monthly recurring revenue, churn rate, and cost of customer acquisition.
Value-based pricing models
Recurring billings makes it possible for companies to establish several pricing models, products, and subscriptions to provide the end-user with versatility. SAP Subscription billing solution can collect one-time payments or recurring payments by credit cards, cash, or bank transfers.
SAP Subscription Billing allows you to easily set individual value prices for every customer. This will let companies understand their customer experience and maximize their revenue stream by changing the prices and innovating products accordingly.