SaaS Billing Software: 7 Tools from 3 Categories and how to Pick to Use

SaaS billing software can help automate some or all of the process of regular billing, including the dunning of payment processing, execution, and so on.

In this article we'll compare 7 SaaS billing solutions that we separate into three kinds:

1. Subscription administration This type of software lets you automate free trial, recurring payment schedules along with the dunning procedure. However, it is still essential to use an additional software to process payments tax, chargebacks, and much more.
2. Processing of payments: These solutions gather payment details and facilitate the transaction between two parties. There are numerous payment processors , they need additional software that can handle complex tax, fees, payments as well as dunning.
3. Merchants of Record (MoR): Having your billing software also function as a MoR is to take care of the total bill-paying process in SaaS to your benefit by managing the collection and paying international and local taxes (such as VAT or local sales taxes) while adhering to local regulations and laws along with chargebacks and more. Without a MoR, you must be aware of and be conforming to local laws as well as taxes in every area or nation in which your customers are.

Table of Contents Table of Contents

•       Your MoR is the all-in-one SaaS Billing
•       3. Subscription Management Software
•       Chargebee
•       Chargify
•       Recurly
•       3 Payment Processors
• Verifone (formerly 2Checkout)
•       Stripe
•       Braintree

You can obtain your MoR via All-in One SaaS Billing

Here is a brief overview of how it looks like to act as your MoR:

The customers who visit your website for a chance to select their favorite software subscription plans. Once they have paid then your software will take over the payment and completes the transaction. It functions the same way as other common SaaS payment processors but with one crucial distinction: it acts as the seller in your account.

The main benefit from this format is the fact that it can double in the following ways:

1. It takes away the burden of paying the local consumption tax, while staying up-to-date in local laws regarding transactions and handling subscriptions, processing payments and more. If there is a problem regarding taxes, local compliance or rate for authorization, chargebacks or authorization. takes over to resolve the problem for you.
2. The entire SaaS billing process is available via the dashboard. Plus, you're only charged a flat rate for each service (more about this in the future).

In the following section, we'll look at an extensive look at ways we can assist you with all aspects of the procedure. Specifically:

•       Checkout
•       Pay Processing
•       Collection and Payment of Consumption Tax
•       Subscription and Recurring Billing Management
•       Retention Management
•       Analytics and Reporting

Checkout The Checkout can be customized to make it easier for conversion

A lot of companies are losing prospective customers due to excessive friction during their checkout process. In this case, for instance, if the checkout screen isn't visually consistent with the logo shown on the site, the prospective customer is less inclined to believe that the transaction is safe. Additionally, the buyer could choose not to make a purchase due to the type of payment option they have available (a issue that is especially prevalent with foreign buyers).

Many payment processors offer customers with checkout templates which allow simple modifications like including your business logo. But, the templates for checkout do not offer the ability to modify your checkout as you in order to maximize your checkout in order to get high conversion rates.

On the other hand it offers branding tools, CSS overrides and also the JavaScript library that includes the majority of ecommerce tools, to ensure that you can have total control of every aspect of your purchase.

Here are a few other tools to assist you with optimizing your checkout:

• preferred payment choices: While Visa or PayPal might be popular within the U.S., other forms of payments are accepted across other nations. If you don't provide your preferred method of payment which buyers use then you'll lose fewer of them to clients. It's also time-consuming and an expense to add different payment options. The program allows users to add various payment methods across the world within a few moments (more about this in a subsequent section).

• Text Translations If your checkout doesn't employ the same language that you use on your other pages and you're not certain if it's a good idea to let customers go. With , you can let the customers pick the language they prefer at checkout or let them select the correct language based on their location.
• Conversions to local currency: Certain customers won't buy the program when they aren't sure (or need to determine by themselves) how much it costs in the local currency. It is possible to solve this issue by making the cost convert to local currency upon checkout. Alternatively, you can make a price that is custom to any currency.
• Flexible integration options: Part of choosing the right checkout flow is choosing whether to integrate it in your website or direct users to a different website. There are three choices for you to choose from the following: 1.)) Integrate the checkout directly onto your website,) include a pop-up window on your website, and) redirect customers to a separate page fully branded with your brand's logo. These two choices only require a few lines of HTML and Javascript Third option is provided by . We'll host your complete storefront and even checkout using your logo.

• Personalized help: If you need help with your HTML0 project, our team of software engineers will aid you to design and implement the best check-out system to your organization (regardless the size of small your business is).

Note: We also provide the checkout templates that have been modified for conversions. However, most companies find it easy to create the system you prefer .

Pay Processing: Increase Authorization Rates by Using Local Payment Gateways

Many times, customers are trying to buy, but the payment method they choose to use is either rejected or too slow to process, so they can't complete the purchase.

Enhances authorization rates so you earn more via a myriad of strategies:

• Rerouting of payments by the payment gateway: If a transaction is unsuccessful on the first attempt then immediately attempts to complete the same transaction again using a different gatewaywith no necessity for the customer or another member of your support team being required to take over. The process is usually able to fix problems with payment caused by problems with connectivity or the systems.
• handling preferred payment processors: As we mentioned earlier, the introduction of new ways of making payments can result in a huge drain on resources. Each card company and bank has different tolerance levels in regards to fraud and chargingbacks and have distinct rules for when the transaction is completed. If you're not in compliance with these regulations then the network of your card will likely stop authorizing payments. It is our responsibility to keeping in compliance with various payment service providers, which means that we deal with charges, fraud and chargebacks along with other issues for you.
• Processing localized payments: Card networks are more likely to authorize the payment through a local processor. If, for instance, the customer is situated in Italy the merchant should have an entity that is legally registered in Italy in order to obtain higher rates of authorization. Work with various payment processors across all over the globe to ensure that most transactions are made locally.

The collection and remitting of consumption tax Expande Globally and Without Fines

Certain SaaS billing instruments can help in collecting tax, however at the end of the day, you're responsible for settling the tax and paying the appropriate amount when it's due. It's a huge responsibility for every business.

Since serves as your MoR. We manage all details of taking, and paying the consumption tax on your behalf.

Automatically calculates the appropriate amount and tax type automatically. It is then added into the total price of the customer when you check out (we also support tax-exempt transactions and other special circumstances). At the end of each tax season, we file taxes with the appropriate authorities. We also lead on audits.

Control Subscription and Recurring Payments Create custom trials and Subscriptions, while staying in compliance with local jurisdictions.

There is a wide range of subscription management programs with flexible plans for creating trials and regular subscription plans. With the right trial and regular billing plan, it's possible to attract more customers and boost revenue.

However, the subscription plans you choose to use are only successful when they comply to local rules and laws. For example, certain states, provinces and countries don't allow auto-pay on transactions exceeding a certain value of.

Most subscription management programs will inform users when they discover changes to the law and regulations, yet it's you who is the one responsible. If you fail to adhere to these ever-changing rules and laws You could be subject to severe penalties or even be barred from operating in the region.

 eliminates the burden by taking full accountability in observing local rules and the laws that govern transactions.

Our legal experts stay up-to-date on every legal aspect and make certain that all the necessary procedure is in place to taking payments. Start selling your products across more than 200 countries within a few seconds as we've created the processes required in each country.

In addition, it offers various pre-configured trial and subscription plans to allow you to develop your own plans without having to write the code. Or, you can use the API and webhooks library to develop complex subscription logic, and then integrate it into.

Here are some illustrations of the types of trials and billing logic you can make using HTML0 :

• Trials that are free or for a cost
• Trials with or without collecting payment details
• Trials which automatically renew until you sign up for a paid plan has been purchased.
• Any length of time for subscriptions
• Mid-cycle, mid-cycle.
• One-time purchase is included in recurring installments
• Discounts, upsells, cross-sells and much more

Retention Management: Reduce Churn that is not voluntary by making use of proactive and proactive techniques.

The issue of involuntary churn is one of the main reasons why businesses that use subscriptions are losing clients. Most SaaS billing programs offer simple retention features like the ability to try again payments after they have failed or sending email messages to clients following the failure of a payment. However, these features will only help only when an attempt to pay was unsuccessful.

allows you to turn on notifications that remind customers to alter their personal information regarding the payment before the transaction can take place. In our experience this type of reminder will significantly decrease the amount of transactions which don't function in any way.

If a payment fails, it's possible to automate send out reminders to your customers for 2 seven, 14 21 days after the failure of a payment. In the following 21 days, the customer's services won't be affected. By sending out periodic reminders and keeping up with your services, your customers will be more likely to update their information and personal details and reduce the risk of uninvoluntary churn.

provides a self-service platform through which customers can change their personal data in addition to upgrade or downgrade the subscription they have. If customers are able to manage their accounts on their own they'll experience less stress for your customers, which means higher revenue. Self-service portals are customizable to fit your branding but it's managed by our team to ensure that your employees don't have to think about it.

Reporting and analysis make it simpler to do Business Making

Analytics and Reporting allows you to know how each product contributes to the profitability of your business, which coupons or promotions are effective as well as which subscription plans earn the greatest profit, and much more.

HTML0 The revenue overview dashboard provides you with a comprehensive view of the flow of cash that includes:

• Which areas are your clients located
• What currencies and payment methods customers prefer
• Net sales of the product
• Total transactions by the country
• and many more

A dashboard that is used for subscriptions will allow users to look at the monthly recurring income (MRR) and SaaS metrics such as:

• Cross-sells, upsells, and other accessories
• Long-term value of every customer's relationships
• Total customer churn
• If the billing cycle is going on, churn can occur most often
• Plus

Through's reporting function allows you to design and save your personal reports that lets you access any information you want, at the time you require it. The support team at Through will be able to help you use these reports to find the answers you need to grow and improve your SaaS company. In addition, you have the option to share any report with key stakeholders via the dashboard or as CSV, PNG, or an XLSX spreadsheet.

Develop a strategy to the Future using Flat-Rate Pricing

In the case of most SaaS billing plans, you'll need to add additional software or change to a more expensive plan in order to gain all the functions you require.

The flip side of this of the coin is that it's an all-inclusive payment solution that means you do not require extra billing software. Furthermore, all functions are provided at an all-inclusive price (without any charges to migrate).

Our team of experts works with you to establish the best price for you dependent on the amount of transactions that you conduct Only charged for transactions that occur.

3. Subscription Management Platforms

Chargebee: Built for Complex Subscription Logic

Chargebee is an extremely popular option to manage subscriptions and revenue administration. Chargebee works with a range of payment techniques and payment gateways. However, you'll be responsible to partner with and configure each one.

Some of the options that are offered by Chargebee are:

• Self-serve and automated subscription models
• Billing and invoicing can be made automated.
• Flexible pricing plans
• Software to manage quotes
• Smart dunning
• PCI-compliant checkout

Chargify Subscription Management B2B SaaS

Chargify is a subscription-based billing software specifically designed to work with B2B SaaS. As of the writing time, Chargify is in the phase of joining forces with SaaSOptics in order to create the brand-new software company, Maxio. With this alliance users of Chargify will gain accessibility to payments processing However, you'll require a different solution to handle taxes and other legal obligations.

Some other notable attributes of Chargify include:

• Dozens of trials and pricing models
• Experience of signing up that's personalized to meet your needs
• Automated dunning
• Self-service Analytics Suite
• Recognition of revenue

Recurly is an online payment processor that can support different payment Gateways

Recurly is a subscription-based billing solution that helps you to optimize your growth strategies. Recurly claims to be able to easily integrate with a variety of payment and transaction processors. However, you'll need to control and oversee these options in addition to the Recurly plan.

Recurly's services include:

• Customizable subscription models
• Automated and recurring invoicing
• Revenue recovery tools
• Intelligent retention
• Analytics on subscriptions

3 Payment Processors

Verifone Pay Platform for Enterprises

Verifone (formerly 2Checkout) offers you the option of choosing between an MoR model or a payment processing model. While startups may be able to benefit from these services, Verifone is more suited to large enterprises.

Its primary features are:

• Analytics and reports
• Global tax , financial and banking services
• Management of risk and compliance
• B2B quote builder
• Channel partner management

Stripe is an established payment processor.

Stripe is a processor for transactions that allow transactions on the internet as well as in-person. Although Stripe offers a few services to manage your subscription as well as features, they usually recommend that you integrate with Chargebee to offer more extensive features for recurring billing. This means you'll be managing and managing two payment processors.

Some of Stripe's other features are:

• Checkout
• Fraud and risk management
• Payments online
• Pay in person
• Management of subscriptions
• Card issuing both physical and virtual
• Management of business spending for subscriptions

Braintree: PayPal's Answer for SaaS

Braintree of PayPal is a processor for payments which supports Venmo (in the US), Apple Pay and Google Pay. In addition, they provide SaaS tools to manage subscriptions.

Braintree is also a great resource for other services. Braintree are:

• Merchant accounts
• The flow of checkout is optimized
• Options for risk reduction that are flexible
• Analytics on the subscription lifecycle
• Integrations of third-party companies to allow periodic billing and accounting and accounting.

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