The subscription marketplace has been on the rise for many years now. From 2011 to 2016, subscriptions of e-commerce platforms grew at a rate of 100% each year.
It is also forecasted that end-user spending on public cloud services will be $304.9 billion this year. All such reports and trends indicate that the popularity of subscriptions will keep on growing.
That is because small businesses and e-commerce platforms need this service to promote their products and services. Generation Z is the largest target market as they contribute $44 billion to the U.S economy.
That is why the efforts of all businesses are going towards ensuring their products are promoted effectively. If you are also running a business, you are in the right place.
Here is everything you need to know about the best subscription management software.
How To Choose Good Subscription Management Software?
It is essential to understand the various factors to consider when making your decision. You have to look at many factors when choosing good subscription management software.
However, not all software will provide you with everything. Here are some of the most important things that make the software great:
- Customizable: The software should be customizable to fit the needs and demands of your e-commerce platform or business
- Flexibility: The most important thing the software should do is adopt catalog flexibility. Doing so will enable businesses to test various pricing and create subscription plans accordingly.
- Security: The software should provide various authentication techniques. These include username, password, and much more.
- Corporate Branding: One of the most important factors for the success of any business is branding. It adds credibility, professionalism, builds customer relationships, and adds value to the business.
That is why the software should offer to brand on invoices and other such items.
- Payment Methods: The more variety of payment methods a service offers, the more customers will be attracted.
- Automation of Dunning Management: Automating dunning management allows the collection of recurring invoices. It is a necessary feature to improve the collections assurance of the business.
These are the six most essential factors you should take into account when choosing the right software. Not all software will offer all these six features.
However, you need to choose the ones that fit your budget and suit your business’s needs. In the long run, the software should have enough flexibility to scale with your business.
After all, growth is essential, and the software should grow with the business. It should also have a proper release plan for future updates.
Such a plan will allow you to gauge what you can expect from the subscription management software. If the future updates are in alignment with business objectives, it is the right decision to choose that software.
FastSpring is one of the best subscription management software. It offers recurring billing, VAT filings, sales tax management, order processing, and much more.
It is a full-service solution for your e-commerce business. The company has been in the business for more than a decade.
Its headquarters are situated in Santa Barbara, CA. By now, it has clients all over the world, including Toshiba, Adobe, Flowbreeze, and many others.
Keep in mind that they only offer their software to e-commerce platforms selling digital products or services. These include e-books, SaaS, games, and much more.
They don’t offer their services to platforms that deal in physical products and services. This subscription management software will be perfect for your business if you are selling digital products or services.
You will be able to monetize your customer life cycle and benefit from increased revenue. That is why it is a great solution if you plan to scale your company in the future.
- Design and Customization: You can customize shopping cart features, e-commerce features, order pages, and much more. You can also set up customized payment pages and mobile e-commerce for tablets and smartphones.
- CRM (Customer Relationship Management): FastSpring offers many CRM features. These include integration with MailChimp, Salesforce, and many others.
- Payment Methods: There are various payment methods that FastSpring offers. These include credit or debit cards, purchase orders, bank transfers, PayPal, money orders, Amazon Payments, and checks.
The best part is you can make payments in nineteen currencies.
- Compliance and Security: FastSpring complies with all PCI DSS regulations. To reduce the risk of fraud, FastSpring offers fraud screening. It uses algorithms to identify and get rid of potential fraud.
- Conversion Optimization: You can test and analyze your website to improve conversions. You can integrate with Google Analytics for the best insights.
- Integration with many licensing platforms
- Many payment methods are accepted
- Easy to use
- Localized purchasing experience for customers
- Only offers service to companies with digital products or services
- The dashboard could use improvement
- 8.9% fee on the entire value of the transaction
- 5.9% fee on the entire value of the transaction with 95 cents charged for each transaction being processed
- Enterprise plan, which is a custom pricing plan for your business
PayMotion is one of the most extensive payment platforms you will find out there for your e-commerce platform. It offers its services to businesses located in Canada or the U.S.
The functionalities of this platform will help you optimize, monetize, and track revenue and payments. PayMotion offers its solutions to many unique industries.
These include e-commerce, software, subscription, and many others. You will get real-time platforms through this software, and you will be able to understand various key insights.
As you grow your business, PayMotion will also scale with you accordingly. I the long run, you will benefit from a steady revenue stream.
It is best for B2C, B2B, B2B2C, and SMB B2B SaaS. The company has a positive track and is well-known in the e-commerce marketplace.
- Payment Processing: This includes various features such as debit or credit card processing, mobile and online payments, and much more. It also includes payment fraud prevention, payment processing services integration, and reporting and analytics.
- E-Commerce: This includes various features such as templates, multi-channel marketing, promotion, and returns management, multi-store, and much more.
- Customer Support: You can chat with the PayMotion team if you experience any problem with the software.
- Order Processing: This includes checkout, shipping, tax display, payment processing, inventory and order management, refunds/returns, and much more.
- Product Catalog: This includes content management, product search and filtering, configured products, and much more.
- Excellent customer support
- Easy to use
- Dashboard and reporting is user-friendly
- Offers to scale flexibility to businesses
- You can analyze user behavior with their reports
Only for businesses operating in Canada and the U.S
The pricing plan starts at $1.70/user/one-time. It only charges per-transaction fees.
PayMotion has not disclosed its pricing as it is customized to each business. That is why you will have to contact them to get an accurate estimate price quote.
Recurly is one of the best subscription management software that offers its solutions to small to global businesses. The software automates and optimizes revenue growth so your business can benefit from it.
It achieves this aim by getting rid of complex processes involved in invoicing and billing. Many large enterprises such as LinkedIn, Hubspot, and others are a regular clientele of Recurly.
Their platform is designed for subscription-based Saas, publishing and content businesses, Web 2.0, Mobile, and much more. It is high-end subscription management software that will offer you some premium features.
The software was launched in 2010, and ever since then, it has been offering the best features. It is incredibly user-friendly as you will be able to facilitate your business style through the software.
If you are looking for the best software with optimal functionality, this is it. The software is one of the best in the business.
- Billing and Invoicing: This includes customizable invoices, contact database, dunning management, multi-currency, online invoicing and payments, mobile payments, and much more. It also offers recurring billing.
- Subscriptions and Publishing: The software offers campaign and advertising management to facilitate your marketing.
- Subscription Management: This includes discount and cancellation management, subscription billing, a self-service portal, subscription plan management, and much more.
- Sales Tax Collection: The software can easily calculate and collect sales tax. It is always updated with the latest tax regulations and pricing to achieve optimal collection.
- Security: The software is PCI-DSS Level 1 compliant.
- An intuitive platform that is easy to use
- Access to multiple payment methods
- Customer support is one of the best
- Seamless and customizable integrations
- Reduces credit card declines by almost 27%
- Needs to have the ability to generate a single payment invoice that includes information from past due invoices
- Needs to have the ability to regenerate an invoice in case of any mistakes
- Free Trial
- Core package – $99/month
- Enterprise Package – $299/month
The primary aim of Fusebill is to simplify complex payment operations and subscription billing for its users. It will help you get rid of any billing bottlenecks so that you can easily grow your business.
Fusebill will support you through each stage of your business growth in the most effective way. The software offers automation of credit card collections, invoicing, recurring billing, and much more.
That is because it offers support to invoiced and online credit card collections. Therefore all models are supported, such as offline, online, and hybrid.
Over the years, Fusebill has grown its clientele significantly. It now provides its services to Business Insider, Uberflip, Geotab, GE Avionica, and many others.
You will also be able to streamline your customer lifecycle management and enhance revenue. In the long run, your revenue leaks will be reduced, and it will eliminate manual billing.
- Accounting: It includes expense tracking, billing and invoicing, accounts receivable, and tax management
- Subscription Management: It includes discount and dunning management, product catalog, a self-service portal, revenue recognition, subscription plan management, usage analytics, and much more.
- Recurring Billing: It includes payment processing, deferred billing, multi-period recurring billing, multi-currency, subscription billing.
- Payment Processing: It includes online payments, mobile payments, reporting, ACH payment processing, billing and invoicing, PCI compliant, and much more.
- Provisioning and Billing: It includes customizable billing, contract and license management, a self-service portal, and much more
- Flexible software
- Accounting reporting is excellent
- Responsive and knowledgeable customer support team
- Easy to use
- Secure payments
The number of API transactions per day is limited
- Free Trial
- Start-up – $99/month
- Rapid-growth – $995/month
- Enterprise – Customized quote
Billsby is one of the best subscription management software that helps businesses from various industries. It allows them to facilitate invoicing, manage the subscription lifecycle, and offer integration.
You can use the many features to improve business revenue in the long run. The software has the power to simplify all your revenue operations in no time.
Your business will start with a solid foundation of invoicing and billing, which will make everything incredibly easy. The best part about this software is the flexibility as it offers many advanced options to users.
It can also assist your business with selling metered units. These can be calculated at the end of the billing cycle depending on usage and other factors.
You will also be able to enjoy detailed reports, insights, and social media sharing features. It is the best software that will help you increase engagement and keep track of everything related to billing.
- Recurring Billing: It includes dunning management, deferred billing, multi-period recurring billing, multi-currency, recurring invoicing, and much more.
- Subscription Management: It includes product catalog, cancellation, and discount management, tax management, subscription plan management, usage tracking, and analytics.
- Billing and Provisioning: It includes customizable billing, invoicing and billing, order management.
- Invoicing and Billing: It includes contact database, billing portal, online payments, online invoicing, subscription billing, and much more.
- Reporting: It includes revenue recognition, deferred revenue, and dimensions.
- Provides users with an excellent dashboard
- It is a perfect billing and invoicing partner for SaaS companies or any other business that has recurring billing.
- Great pricing structure
- Easy integration with various third-parties
- Easy to use interface
Customer support may not be very responsive at all times
- Complete – Free trial until you make $5,000. After that, $0/month plus a transaction fee of 0.4%
- Managed – $2,000/month until you make $5,000. After that, $2,000/month plus transaction fee of 0.4%
If you want to capture and maximize your revenue, then Chargebee is the best subscription management software. It offers revenue analytics, subscription management, recurring billing, and much more.
You will easily be able to integrate the software with other platforms. Some of the best integrations include MailChimp, Salesforce, Shopify, Quickbooks, Xero, and much more.
That means you will be able to get the best out of your business with this software. The method of payment collection is also as straightforward as it can be.
You can set up the entire software yourself without requiring any help from a web developer. After that, you and your team can use Chargebee for the organization and running of discounts and product promotions.
Chargebee also offers flexibility that the best subscription management software needs to have. You can easily pick a system that will best cater to the needs of your business model.
- Subscription Management: It includes discount and cancellation management, product catalog, dunning management, revenue recognition, subscription billing, and much more.
- Recurring Billing: It includes payment processing, multi-period recurring billing, multi-currency, deferred billing.
- Invoicing and Billing: Contingency billing, billing portal, contact database, mobile payments, customizable invoices, online and mobile payments, multi-currency, tax calculation, and much more.
- Payment Processing: It includes credit or debit card processing, ACH payment processing, mobile payments, PCI compliance, multiple payment methods, analytics/reporting.
- Performance: It includes packages, plan changes, discounts.
- The API is user-friendly
- The interface is incredibly intuitive
- It has many impressive automation features
- The data is safe and secure in data centers
- It offers a superior level of support to its customers
As of now, there is no option to export multiple invoices in one go
- Launch– Will does not charge anything till you reach $100,000
- Rise – $249/month. You are allowed to make $600,000 in revenue. If you exceed that, you will be charged a 0.6% overage fee
- Scale – $549/month. You are allowed to make $1.2 million in revenue. If you exceed that, you will be charged a 0.75% overage fee
- Enterprise – Customized plan
Advantage is one of the oldest software developers in the business. It is providing its services to businesses across all industries since 1979.
That is why you can count on them to provide you the best subscription management software. It is an all-in-one solution for all advertising agencies, marketing firms, public relations firms, and creative teams out there.
You will benefit from automation, centralization, reporting, and much more. That is why Advantage ensures that its software aligns with your business objectives.
Your creative team will gain improved productivity, profitability, efficiency, and much more. The subscription management software will easily help you sell combinations of your print and digital products.
As a business, it may be difficult to achieve these sales, but Advantage is known for doing this. The software also offers in-person and webinar training.
If you want to integrate it seamlessly into your business, you can take these training sessions. Once you are done, you will be able to use all the features easily.
- Publishing and Subscriptions: Campaign management, booking management, circulation management, newspapers, newsletters, magazines, and much more.
- Deployment and Support: Cloud, web-based, SaaS, and Windows.
- Support: 24/7 live chat support to help customers with any query.
- Training: Documentation, physical training, and webinars.
- Ease of use
- Value for money
- Optimal functionality
- Excellent customer support team
- Proper audit controls
- It can be quite overwhelming to use initially
- Comes with a learning curve
You can contact them to obtain pricing as the price plans are not stated by the seller.
Stripe Connect has changed the game for many businesses looking for the best subscription management software. It makes it incredibly easy for companies to do business online.
The software is in operation for the past eleven years, and it is already offering services to renowned brands. These brands include Pinterest, Lyft, TaskRabbit, Under Armour, and many others.
The software is easy-to-use, has unique features, and is incredibly powerful. It is a solution that fits companies of all sizes that want to gain more efficiency.
If you want a complete subscription management solution for your business, then Stripe is an ideal choice. It is certified with PSD2 compliance, which means your revenue will be secured safely.
It also requires powerful customer authentication, which makes it a strong software to use. You can also use it to send your invoices in an integrated way.
The process of recurring invoices is automated, so you will face no issues. The software allows for the application of global tax rates according to each country.
- Subscription Management: Subscription plan management, dunning management, subscription billing, and much more.
- Recurring Billing: Multi-currency, subscription billing, recurring invoicing, and payment processing.
- Invoicing and Billing: Contingency billing, billing portal, customizable invoices, hourly billing, project billing, multi-currency, mobile and online payments, online invoicing.
- Accounting and Reporting: Third-party integrations, accounting integrations, standard reports, custom reports.
- Collection of Payments: Payment reminders, ACH and wire, credit cards, local payments, card updater, retry logic, and much more.
- Offers outstanding developer tools
- Supports various currencies
- Offers advanced reporting tools
- Perfect solution for international merchants
- Flat-rate pricing
- Not suitable for businesses that operate in high-risk industries
- Requires technical knowledge to implement the software
- Starter – 0.5% on recurring charges
- Scale – Starts at 0.8% on recurring charges
Digital River can be the best choice for you if you want a comprehensive back-end solution for your business. It easily plugs into the front-end e-commerce platforms to provide businesses with the best.
With their software, you will be able to reduce the risk and complexity of cross-border selling. It is the best subscription management software for tax management, fraud prevention, online payments, financial reconciliation, and much more.
Digital River has an expertise of more than twenty-five years, making them the leading choice. In the end, you will reduce risk, enhance revenue, expand globally, and optimize your operations.
The software has extensive tools and services that will help you manage your business effectively. You will be able to provide support to customers and enhance their experience in no time.
The features are created keeping in mind customer retention and experience. After all, you need customer retention for long-term growth.
- Sales Tax: Transaction tracking, tax filing, audit trail, address validation, taxability verification, exemption management, consumer use tax, VAT, and much more.
- Compliance: ISO Compliance, FDA Compliant, HIPAA Compliant, Environmental Compliance, OSHA Compliance, Sarbanes-Oxley Compliance, surveys and feedback, workflow automation.
- Payment Processing: Billing and invoicing, payment fraud prevention, electronic signature, credit or debit card processing, data security, reporting/analytics.
- Financial Fraud Detection: Internal fraud monitoring, data discovery, customer accounts, check fraud detection, custom fraud rules.
- PCI Compliance: Compliance tracking, log management, patch management, file integrity monitoring, intrusion detection system, PCI assessment, policy management.
- Supports a wide variety of tracking methods
- Strong Datafeed capabilities
- Excellent customer support
- Payment processes are quick and easy
- Provides advanced analytics
- It has so many features that users tend to get overwhelmed
- Not suited too well for small businesses
Digital River does not offer a free trial. It only offers a quote-based plan. That is why you need to get in touch with the vendor.
Ordway is a smart cloud-based revenue automation and billing solution platform that is perfect for small to medium-sized businesses. If you are a scaling business that needs to manage recurring subscriptions, you need Ordway.
You will collect payments, recognize revenue, manage to price, invoice, and much more. The software supports integrations with many other platforms such as Authorize.net and Stripe.
You can easily generate monthly recurring revenue reports, create edit and export journal entries, and do much more. The options with this platform are endless, as it will help you gain insights into your financial health.
- Accounting: Tax management, billing and invoicing, reporting and analytics, monthly reports.
- Invoicing and Billing: Contact database, billing portal, customizable invoices, contingency billing, hourly billing, project billing, multi-currency, online invoicing, mobile payments.
- Accounts Receivable: ACH payment processing, check processing, aging tracking, receivables ledger, customer statements, collections management, online payments, partial payments.
- Subscription Management: Cancellation management, dunning management, discount management, product catalog, self-service portal, revenue recognition, onboarding/enrollment.
- Recurring Billing: Deferred billing, recurring invoicing, payment processing, multi-period recurring billing.
- Powerful and flexible billing
- Helps tailor the workflow
- Dynamic pricing tiers
- Handles many levels of complexity
- Incredibly responsive customer support team
- You need to pay attention while implementing the system as it can be complex.
- Not suited to all business models
Ordway offers a free trial, but it offers a quote-based plan. That is why you will need to contact them for pricing details.
Last but not least, we have Chargify on our list. It is one of the leading global subscription management software.
It will allow you to manage your subscription and recurring payments. The software is specifically built for rapidly growing B2B SaaS businesses.
It will remove all billing bottlenecks so the payment process can be optimized. However, their software goes beyond billing and payments.
Chargify can help you manage the entire customer lifecycle. You will be able to maximize revenue, retain customers, track metrics, and provide the best customer experience.
All these services are at the core of Chargify’s software. That is why you should consider opting for their solutions.
- Subscription Management: Dunning management, revenue recognition, cancellation and discount management, product catalog, subscription billing, a self-service portal.
- Recurring Billing: Recurring invoicing, deferred billing, multi-period recurring billing, multi-currency, payment processing.
- Customer Relationships: Easy signup, referral marketing, CRM, coupons and discounts, managing churn.
- Data Management and Reporting: At-a-glance dashboard, third-party integrations, and export to CSV.
- Payments: Taxes and regulations, accurate charging, multiple payment methods, offline payments.
- Excellent scalability as your customer base grows
- Brilliant reporting
- The dunning system automatically handles missed payments and is user-friendly.
- Knowledgeable and responsive customer support
- Invoices are clean and easy to read
- The dashboard needs to be more unique
- API documentation has room for improvement
- Essential – $599/month
- Standard – $1,499/month
- Professional – $3,499/month
What Is Subscription Management Software?
Subscription management software is also known as recurring billing software. It is a platform that allows businesses to manage subscription plans, subscribers accounts and monitor recurring revenue.
All of this happens through automation so the entire process can be facilitated properly. As a small and new business, you may not need the software.
However, as your business starts to grow, you will need to scale other things accordingly. As you get more customers, it will be problematic to handle their invoices without proper software.
That is where the subscription management software comes in. It will allow you to manage invoices, payments, billing, and much more with the help of automation.
Without this software, the handling of your subscribers will become increasingly difficult. The accounting department of your business will have to work extra hard and do more manual work.
In the long run, this will create billing-related bottlenecks for your business. Of course, opting for subscription management software will allow you to get rid of the bottlenecks and grow your business.
Besides that, the software can help you release new products and asses pricing strategies. That is because the software will help you adjust product catalogs in real-time.
It will allow you to be more flexible and expand your business accordingly. The model that most software use is the fixed recurring model.
It allows businesses to sell each product at a fixed price charged at the beginning of the billing cycle. Opting for this will help you gain a steady stream of revenue.
On the other hand, there is a seat-based model. It allows access to cloud-based B2B software.
The subscriber has to pay for each license that is required to use the software. The price of the seat-based model software is related to the level of usage by the subscriber.
You can choose from any of these models for your business. It depends on how you conduct your business.
Benefits Of Using Subscription Management Software
Before we move onto the best subscription management software, you need to understand how it can benefit your business. Here are some of the most important benefits your business will enjoy:
1. Robust Reporting
All great subscription management software will give you access to real-time reports. These can let you know daily revenue, daily members, outstanding accounts, and much more.
You can use the insights from this data to create your reports too. That is why it is the top benefit.
Automation optimizes many processes of the business. Subscription management software will provide you many automation features.
It will streamline the sales process and allow the business to do everything effectively. It optimizes everything from start to finish.
3. Financial Planning
Subscription management software allows monitoring of recurring revenue. In the long run, this will allow your business to plan operational spending.
You can also see what resources you can expect to have in the coming financial cycle. That is much needed for future financial planning.
4. Control Of The Billing Process
Subscription management software will give you full control over the billing process. You can easily choose from flexible billing options.
Doing so will allow you to optimize your business and scale growth accordingly. In the long run, you can focus on other areas of business.
5. Saving Cost
The software will optimize the entire billing process. You will be saving costs as you can reach subscribers at a lower cost in the long run.
6. Saving Time
Through subscription management software, you can create a sustainable business model. Such creation will allow you to promote products effectively.
It will save time you might have spent on other options to increase your revenue. That is why many businesses opt for the software.
7. Access To Data
Data is key to running a successful business. The software will provide you with the personal contact and demographic information of your subscribers.
Such data will help you in strategizing your marketing plans. These plans will be more effective because of this data.
8. Enhanced Revenue Collection Experience
Last but not least, the software will enhance the process of revenue collection. You can send automatic emails to customers alerting them of outstanding bills.
In the long run, it will reduce your efforts of collecting subscriber’s payments. That is because the process will be automated.
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