The SaaS business model is built on customer subscriptions. If your business has one type of customer and one price, lucky you! Subscription management is simple and can be done on a spreadsheet.
But let’s say you’ve got multiple pricing tiers, discounts, free trials, differing contract lengths. It does not take long for subscription management to become overwhelming. Subscription management software tools can help keep track of everything.
What is Subscription Management Software?
Subscription management software helps SaaS businesses manage or automate elements related to customer subscriptions. Examples include customer invoicing, customer billing and payment information, recurring revenue recognition, pricing, etc. Available features are numerous, depending on the provider and solution you go with.
Why Do I Care about Software for Managing Subscriptions?
You are trying to scale your business. Imagine creating and sending monthly invoices for 1,000+ customers. Imagine managing pricing tiers for those customers, or features, payment information, etc. How much time and effort does that take?
Subscription management software can ease administrative costs and headaches. It can also help with forecasting and metrics.
Where Can I Find More Information about Subscription Management Options?
The G2 Crowd web site has a handy summary of software features, options, and reviews. You can find it here.