Say Goodbye To Tedious Manual Invoicing

Subscription Billing Customer Retention

Say goodbye to tedious manual invoicing

August 02, 2018 ⎯ 5 mins read

A subscription business model has several advantages and benefits – chief among them is the ability to develop and maintain long-term relationships with your customers. Happy customers mean consistent payments – which translates into a healthy cash flow for your company.

However, healthy customer relationships are only the tip of the iceberg when it comes to the many benefits of a subscription business model.

Subscription billing providers like Ezypay offer multiple bells and whistles that can automate many of your business processes so you can focus on what you do best. Let’s take a look at a few in detail.

Five features which make subscription billing worthwhile

Here are five important features that your subscription billing service should include that will set your business up for subscription success.

1. Go cloud-based

Many subscription payment providers are based entirely in the cloud on secure servers, meaning you can manage your subscriptions and your customers from wherever you are in the world. This accessibility and freedom make it far easier to manage your subscription business wherever you have internet access.

Inside of a server rack

2. Effortless customer management

Manually feeding data into a payments platform is tedious and inefficient. Instead, select a platform that allows you to import your current customer databases via a simple CSV file, saving you time and effort.

3. Flexibility payment plan options

Choose a solution that accommodates your customers’ needs through flexible payment plan options - so you can bill your customers any day of the week at different rates via different payment methods. It’s also important to work with a payment provider who can settle your hard-earned money on a consistent schedule, as this makes forecasting far easier.

4. Automation capabilities

To help improve your subscription processes and ease the burden on your team, your chosen subscription billing service should be entirely automated so that some of the repetitive and manual tasks associated with payment collection can be completely eliminated. Many subscription business providers can help automate key tasks associated with managing a subscription business, including customer onboarding and failed payment handling.

5. Secure, safe and compliant payment collection

Maintaining compliance when collecting and processing customer payments can be difficult, but working with a trusted payments provider means your business can collect payments in confidence. Make sure your chosen payment provider is a PCI DSS-compliant subscription payment provider. This means they employ sufficient security and data privacy to collect millions of payments annually, and are trusted by VISA, MasterCard, American Express and the other major bodies which govern the payments industry.

Ready to get started with subscription billing?

Ezypay offers all these features highlighted above (and more) – making it easier for businesses like yours to collect and manage their subscription payments. Getting your business subscription ready is easier than you’d think – book a free demo today and our Recurring Payment specialists can show you how Ezypay works in more detail.