Leverage Subscription Management Software for One-Window Operations Management
eCommerce has empowered the business landscape like never before. From wholesale and retail businesses to SaaS and rentals, it facilitates merchants from across the avenues to explore revenue and growth opportunities for their businesses.
In particular, it paves the way for the subscription and SaaS businesses to flow a stream of recurring revenue in combination with the subscription management software as a consolidated platform that offers all in one place.
It is not necessary that businesses with more resources, bigger team sizes, and expanded customer base can only attain business excellence through subscription software. Businesses with limited resources and teams and smaller customer base can also leverage the data to drive more revenue and growth into their subscription businesses.
How Subscription Management Software for Small Business Is An Ideal Solution?
When small subscription businesses dive into new markets to explore revenue and growth possibilities, the risks associated with subscription handling, data sharing, tax assessment, online payment processing security, market capturing, personalized customer services, and others become progressively real.
To avoid these hurdles, a consolidated, simple, accessible, and flexible solution is required. The subscription management software for small businesses is an answer to all these concerns.
SubscriptionFlow is apt for small businesses as it offers cloud-based recurring invoicing and billing experience to businesses, check-out, leads tracking and capturing, payment processing through multiple payment gateways via several payment methods, and a highly customized dashboard with SaaS monitoring and reporting system for all the automated tools available at one platform.
Here are the five ways that ensure the key businesses process management using a scalable, smart, and flexible subscription management software for small business:
- Customer Relationship Management
Subscription management software are the CRMs that offers insights into the patterns, trends, and behaviors into customer preferences and interests. The built-in CRMs of the subscription management software are one of the most effective tools in business processing management.
From organizing customer’s details and using the data from across the integrated platforms to capturing the lead and supporting the management of the sales and marketing funnel, CRMs play a huge role in facilitating the streamlined workflow.
The analytics in the subscription software uses this data to find key performing indicators called KPIs. These KPIs are used to monitor, measure, and manage recurring revenue. Some of the widely-used KPIs are MRR, ARR, CR, CAC, CRR, BNC, VC, and more.
CRMs are also used as an efficient source tool for employee management.
Integrating CRMs with communication management software is a great way to track, measure, and optimize communications across internal and external audiences.
- Recurring Billing, Payment, and Revenue Management
Subscription management software is also called recurring billing software.
Often, subscription software like SubscriptionFlow is used as a one-stop destination to manage all in one place—from ordering, invoicing, billing, taxing, payment processing, and managing recurring revenue.
A SaaS subscription management software can manage it all through automation and integrations.
SubscriptionFlow is a highly flexible platform that allows third-party integration to leverage the data from across the stacks and enhance the overall personalized customer experience for the businesses.
Small businesses with constrained resources can use it without dedicating the resources, budget, workforce, and efforts. It is a software that allows small businesses and startups to automate the whole process of recurring billing by eliminating the needs of doing repetitive tasks time and again.
The subscription software integrated with online payment gateways makes it easier, safer, and faster to get paid. On the other hand, the Machine and Deep Learning trained modules better detect the payment fraud risks using customer data available through the different integrated applications.
Likewise, through a range of integration like Avalara, Sage Intact, Salesforce, and other—small B2B and B2C businesses can easily manage all their accounting, tax, inventory, finance, supply chain, and many other standard business operations.
- Marketing Management
To manage inbound marketing, subscription software are quite flexible to integrate with multiple marketing applications like MailChimp, HubSpot, InfusionSoft, ActiveCampaign, and more.
These marketing software are used to automate and manage the marketing operations and communications leveraging customer data from the subscription and other integrated software to draw traffic and attract sales prospects.
- Sales Management
The sales dynamics of the subscription market is different from the other models of the revenue. It is crucially based on customer retention. Subscription businesses have to focus more on retaining a customer by creating upsell, cross-sell, and resell opportunities for them.
Sales Management Software like PipeDrive, HubSpot Sales Hub, Salesforce, Quickbooks, and others integrated with subscription and marketing software performs quite well when it comes to capturing and managing the leads to convert them into paid customers.
Sales Management Software when integrated with SubscriptionFlow or any other full-fledged software helps merchants to better concentrate on the factors that attract more revenue opportunities like price optimization, multiple billing models support, multiple payment gateway requirements, and many more.
- Customer Support and Services Management
Customer Care is the most vital business process management. It ensures strengthen and enhanced customer relationships. When customer support and service SaaS integrates with the subscription management software, it supports the customer support with the detailed insights of the customer data, such as billing, payment methods, currencies, transaction history, SaaS usage, and more to help support agent resolve query tickets immediately.
Integration of Support Management Software like ZenDesk allows customer support agent to take advantage of the following features and provide the best services while optimizing the data for:
- Personalized Interactions
- Live Chat
- Email Support
- Customer Care AI-Bots
- Knowledgebase for Customer Service
- Call Centre Features
- Community Forums Features
- Workflow Configuration