The subscription business model has gained huge momentum in the last decade. Entertainment, News, Publications, IT Services, Healthcare, and many more such industries have embraced subscriptions as their core business model. Now with this fast-growing subscription economy there comes the need for new-age applications that can easily handle the surging number of subscriptions and the daily operations surrounding the subscription cycles.
This directly leads us to quite a number of third-party apps that effectively manage these subscriptions on daily basis in Microsoft Dynamics 365 CRM.
But the question is – Which one is the right app for you?
And this is where the popular app -
So, let’s find out what more can this amazing app can do for you!
When multiple products/product lines, plans, add-ons, and pricing models are involved, managing subscriptions can become quite tedious. Subscription and Recurring Billing Management supports multiple products and pricing plans like Flat Fee pricing, Per Unit Pricing, Tiered Pricing, Volume Pricing, Stairstep pricing, and so on. Because of this, handling each product’s own pricing plans, add-ons, etc. becomes quite easy and hassle-free. Now, introducing new product plans, cross-selling and upselling products will be a piece of cake for the Sales team as there will be fewer complexities in the operational processes.
In the subscription business line, invoices are generated on a regular basis. This is one of the many recurring processes in subscription-based businesses. Add to it the constant updating of subscription plans due to the changes in the consumer behavior and the task becomes more daunting for the Sales team to process. But with Subscription and Recurring Billing Management, all of these processes can be automated and streamlined. This would highly reduce the billing workload of CRM users and help them concentrate on more productive tasks.
Sending reminders for subscription renewals and due payments are part and parcel of billing processes. Though it is an important task, it can also be quite taxing if done manually. Also, there will be operational inefficiencies which may lead to delays in sending reminders resulting in loss of payments and renewals. But, Subscription and Recurring Billing Management automate these tasks thereby eliminating such mishaps from happening and reducing the loss borne by the organizations.
A famous mathematician once said, “If you cannot measure it, you cannot improve it.” This is why there is a need to monitor key SAAS metrics such as MMR (Monthly Recurring Revenue), CAC (Customer Acquisition Cost), Churn rate, ARR, ARPU, CLTV, etc. in every subscription-based business. Subscription and Recurring Billing Management, with the visual representation of all these metrics on Dashboards, can give you intricate insights on monthly, quarterly, and yearly subscription revenue and help you to consequently plan for future business growth.
With consumers all around the world, subscription-based businesses often find it difficult to process tax calculations that involve multiple tax rates based on products, regions, tax zones, etc. And if the process is carried out manually then the complications become ten-fold because of human error while calculating taxes. But with automation, these complications can be eradicated. Subscription and Recurring Billing Management along with its integration to Avalara AvaTax offers this simplistic solution of error-free tax calculation through automation.
So what say? Isn’t Subscription and Recurring Billing Management a worthy app to implement in your Dynamics 365 CRM?
Hurry! Don’t wait around!
For any subscription management related information, feel free to contact us at [email protected]
Until then – Subscribe for stress-free subscription and recurring billing management!