What is a Subscription Management Software?
Subscription Management Software helps businesses manage their subscription-based services, including new subscriptions, renewals, upgrades, downgrades, and cancellations. Businesses can create and manage different subscription plans with various pricing tiers, billing frequencies, trial periods, and promotional offers. In addition, businesses can store and manage customer information, including contact details, subscription history, preferences, and communication records.
Subscription Management Software enables businesses to segment their customer base based on specific criteria, such as subscription type, geographic location, or usage patterns. It offers a self-service portal where customers can manage their subscriptions, update payment information, view billing history, and access support resources.
Features of a Subscription Management Software
List of Subscription Management Software
When you start looking for the best subscription management software, it is easy to get overwhelmed with the list of options available. Here is the handpicked list of subscription management software to choose as per your requirement:
1. DealHub
DealHub is a subscription management software that allows businesses to automate their subscription-based services' billing process. It supports various billing models, including recurring billing, usage-based billing, and one-time payments. It enables businesses to set up pricing plans, manage invoicing, and handle billing cycles. In addition, companies can store and organize customer data, track customer interactions throughout the subscription lifecycle, and manage subscription plans and pricing specific to each customer.
DealHub provides a self-service portal for customers to manage their subscriptions. Customers can view and update their subscription details, make payments, access billing history, and find support resources.
Key Features:
- Businesses can monitor customer churn, revenue growth, acquisition costs, and other performance indicators
- Users can integrate with other business systems, such as CRM platforms, billing systems, and finance tools
- Businesses can set up automated notifications and reminders to customers, ensuring timely renewals and facilitating upselling opportunities
- It complies with accounting standards such as ASC 606 and IFRS 15 and provides reporting and analytics on recognized revenue
To know more about DealHub Subscription Management Software features and product options, click here to continue.
2. Chargebee
Chargebee is a subscription management software that helps businesses manage and automate their subscription-based services. It supports various pricing models, such as flat-rate pricing, tiered pricing, metered billing, one-time charges, and usage-based billing, allowing businesses to cater to different customer needs. It can handle failed payments by automatically retrying failed transactions, sending dunning emails to customers, and managing payment method updates to minimize involuntary churn. In addition, it provides a self-service portal where subscribers can manage their subscriptions, update billing information, view invoices, and access other account-related details without contacting support.
Chargebee subscription management software automatically updates expired or invalid credit card details, reducing payment failures and ensuring a seamless billing experience for customers. It supports multiple sales channels, including web, mobile, resellers, and partnerships, enabling businesses to monetize their offerings across different platforms.
Key Features:
- It complies with revenue recognition standards such as ASC 606 and IFRS 15 by automating revenue recognition and providing reports for accounting purposes
- It provides comprehensive analytics and reports on key subscription metrics, including MRR (Monthly Recurring Revenue), churn rates, and customer lifetime value
- Provides features like customer upgrades, discounts, and customer-specific pricing to maximize revenue retention and upsell opportunities
- Users can integrate with third-party tools, including CRMs, payment gateways, accounting software, and marketing platforms
To know more about Chargebee Subscription Management Software features and product options, click here to continue.
3. Zoho
Zoho Subscriptions is a subscription management software that allows users to create and manage different subscription plans with customizable pricing, billing frequencies, and durations. It can automate recurring billing processes, generating invoices and collecting payments at specified intervals. It supports multiple payment gateways, ensuring smooth and secure customer transactions. In addition, Businesses can set up tiered pricing, discounts, and trial periods to attract and retain customers.
Key Features:
- Provides a self-service portal where customers can manage their subscriptions, view billing history, and update payment details
- Businesses can segment their customer base based on various criteria, such as subscription status, and payment history
- Businesses can set up automated reminders for customers, such as upcoming renewals, payment failures, or plan changes
- Users can integrate with popular payment gateways, accounting software, and CRM systems
To know more about Zoho Subscription Management Software features and product options, click here to continue.
4. Zuora
Zuora is a cloud-based subscription management software that allows businesses to create and manage various pricing models and packaging options. It supports different billing frequencies, one-time fees, usage-based pricing, tiered pricing, and promotional discounts. Provides self-service customer portals where subscribers can manage their subscriptions, view invoices, update payment methods, and change their account information. In addition, users can integrate with various payment gateways and support multiple payment methods, including credit cards, direct debit, and digital wallets.
Key Features:
- It generates invoices based on the defined billing rules and supports multiple billing cycles, proration, and revenue recognition
- Provides reporting and analytics capabilities to gain insights into subscription performance, customer behaviour, and revenue trends
- It supports multi-currency and multi-language capabilities, making it suitable for global subscription businesses
- Allows businesses to automate billing processes for recurring subscriptions
To know more about Zuora Subscription Management Software features and product options, click here to continue.
5. PayKickstart
PayKickstart is a subscription management software that allows businesses to set pricing and create different subscription tiers, including one-time payments, recurring subscriptions, free trials, and custom payment plans. Provides a self-service portal where customers can track their information, including their subscription details, update their payment information, view invoices, and change their account details. In addition, it automates dunning management by sending customizable email notifications to customers, reminding them to update their payment information.
PayKickstart subscription management software supports handling taxes for international customers, including Value Added Tax (VAT). Businesses can set tax rates, configure tax rules based on customer location, and generate tax reports to simplify their tax compliance processes.
Key Features:
- Allows businesses to create and manage promotional campaigns by offering discounts, coupons, and special deals to attract customers
- Users can integrate with payment gateways like PayPal, Stripe, and Authorize.net, enabling seamless and secure payment processing
- Businesses can create and manage affiliate programs, provide affiliates with unique tracking links, set commission rates, and monitor affiliate performance
- Businesses can set tax rates, configure tax rules based on customer location, and generate tax reports to simplify their tax compliance processes
To know more about PayKickstart Subscription Management Software features and product options, click here to continue.
6. FastSpring
FastSpring is subscription management software that enables businesses to create and manage various subscription plans. It automates the billing process, generating invoices and charging customers based on their subscription plans. It supports recurring billing, one-time charges, and prorated billing for upgrades and downgrades. In addition, it provides a portal where subscribers can manage their subscriptions, update payment information, view invoices, and handle cancellations.
Key Features:
- Businesses can set up dynamic pricing rules, promotional discounts, and coupon codes to attract and retain customers
- Users can integrate with various third-party tools, such as CRM systems, email marketing platforms, and analytics tools
- It supports affiliate programs, allowing businesses to collaborate with partners to promote and sell their subscription products
- It can handle failed payment attempts by automatically retrying charges and sending customer notifications
To know more about FastSpring Subscription Management Software features and product options, click here to continue.
7. Ordway
Ordway is a subscription management software that enables businesses to create and manage subscription plans with flexible billing options, such as one-time fees, recurring subscriptions, and usage-based pricing. It can handle dunning management by sending automated reminders and notifications for overdue payments, helping to improve cash flow. Provides a self-service portal where customers can manage their subscriptions, view invoices, update payment methods, and access relevant billing information. In addition, it can handle prorations and calculate the correct charges or credits based on the timing and changes to the subscription.
Key Features:
- Users can integrate with payment gateways, accounting systems, and CRM platforms, allowing seamless data flow and synchronization
- Users can maintain an audit trail of all subscription-related activities, including changes, payments, and revenue recognition events
- Businesses can monitor metrics like Monthly Recurring Revenue (MRR), Customer Lifetime Value (CLTV), and churn rate
- It supports multiple currencies, allowing businesses to operate globally and handle international customers
To know more about Ordway Subscription Management Software features and product options, click here to continue.
8. Recurly
Recurly is a subscription management software that allows businesses to create and manage various subscription plans, including pricing tiers, billing frequencies, and product offerings. It supports multiple payment methods and currencies, ensuring a seamless payment experience for customers. Businesses can automatically handle failed payments and notify customers to update their payment information. In addition, users can integrate with payment gateways such as Stripe, Braintree, and PayPal, making it easy to process payments securely and efficiently.
Key Features:
- It provides automated workflows and customizable settings to efficiently handle subscription changes, upgrades, downgrades, and cancellations
- Users can integrate with third-party applications, including CRM systems, marketing automation tools, accounting software, and analytics platforms
- Provides a self-service portal where subscribers can manage their accounts, update payment information, and view invoices
- It complies with PCI DSS (Payment Card Industry Data Security Standard)
To know more about Recurly Subscription Management Software features and product options, click here to continue.
Conclusion
Subscription Management Software allows businesses to effectively manage their subscriptions, drive growth, and stay competitive in the subscription economy. It includes tax calculation capabilities to handle regional or international tax requirements and ensure compliance. In addition, users can generate reports and provide insights into key subscription metrics, such as revenue, customer acquisition, retention rates, churn analysis, and subscriber growth.
Featured Image Courtesy – Photo by Austin Distel on Unsplash
