What Makes Fusebill the Best Subscription Billing Platform?

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As your SaaS (software as a service) business scales, you may be surprised at the number of recurring billing bottlenecks you're running into.

You might be struggling with:

  • Disconnected data: You’ll need a solution that brings siloed data together and enables more accurate financial reporting.
  • Customizing products and plans: A flexible catalog makes it possible to change products and plans at both the general and customer level.
  • Managing customer accounts: Self-service customer portals put the power of making account changes in customers’ hands.
  • Failed payments and churn: Automated dunning management features can take care of payment retries, credit card updates, and communications, without you needing to lift a finger.

For many rapid-growth SaaS, IoT (internet of things), and media businesses, Fusebill is the subscription management platform that satisfies the most urgent billing needs—and then some.

With a strong API, granular customizability, and impressive automation features, Fusebill is a strong contender when it comes to high performance and functionality.

Ready for more details? We’ve got you covered. Fusebill is the right subscription billing solution for you if you need to:

Automate revenue recognition

Revenue recognition for recurring billing businesses is complex. Manually teasing out earned vs. deferred revenue is difficult—and impossible at scale. Calculating revenue for dozens or even hundreds of customers with various subscriptions simply can’t be done on spreadsheets.

Fortunately, Fusebill automates revenue recognition so you don’t have to. The platform is built on a general ledger system to follow generally accepted accounting principles (GAAP) and help you to comply with ASC606.

This means Fusebill goes beyond basic accounting. An automated double-entry accounting system ensures revenue recognition that is

  • accurate
  • ongoing, and
  • compliant.

With a recurring billing system that automates these manual-heavy recurring tasks, your team is left with more bandwidth available for strategic work that will help grow your business.

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Complete Guide to Subscription Billing

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Customize product and plan offerings

As your SaaS business grows, so do your customers’ needs. New demands and market changes call for new products, versions, packages, and plans.

“All SaaS solutions must contain the ability to be flexible, personalize data, and scale.” -InsideBigData

Recurring billing systems with a flexible catalog enable you to achieve this.

Inflexible catalogs put SaaS businesses in a billing bind. The inability to easily add one-time charges, for example, leads to confusing invoices, inefficient reporting, and more customer calls—not to mention the workarounds your billing team has to perform in order to invoice for the correct amount.

At best, your team has more work on their hands. At worst, your business experiences more churn.

This catalog flexibility makes billing for one-time charges, promotions, pricing changes, and discounts much more straightforward. It increases data accuracy for invoicing and reporting, while also helping business run more smoothly and preventing customers from churning due to errors or lack of transparency.

At both the customer level and the general level, your subscription management platform should enable your team to:

  • easily and quickly create or change products, packages, and plans,
  • experiment with different pricing models,
  • charge for recurring services, one-time purchases, and physical good sales, and
  • go to market quickly with new offerings.

Fusebill puts all of this in reach.

Integrate with other platforms

Doing business today requires a hefty tech stack. Your ERP, CRM, payment gateway, and accounting software all need to play nice with one another to keep your financial operations flowing.

Your subscription billing software needs to integrate with the tools you currently use or plan to use in the future. This not only optimizes your internal workflows, but also produces cleaner data which improves your financial audit trail. Most importantly, smooth integration creates streamlined customer experiences through the entire subscription lifecycle with accurate billing and automated payments.

Fusebill customers enjoy all of this thanks to the platform’s native integrations with

  • Salesforce
  • NetSuite
  • HubSpot
  • QuickBooks
  • Geotab
  • Zapier
  • Avalara, and
  • Digital River

Don’t see your tools here? Fusebill’s powerful API integrates with any other software you use—even your own software product.

Empower your customers

When your customer success team is responsible for every sign-up and account change, work tends to pile up—there are likely more pressing tasks they could be working on. But enabling customers to sign up for or adjust their subscription on their own not only relieves this burden but also helps your customers feel self-sufficient.

Modern customers prefer having some level of personal control over their subscriptions—in fact, Salesforce found that 84% of customers use customer self-service portals. While this doesn’t mean you can abandon customer support, it does mean you can relieve their workload while also improving the customer experience.

With hosted pages, customers are empowered to take the signup and payment process into their own hands. They can log in and sign up for, manage, pay for, or purchase additional products and plans from the comfort of their own devices, at any time that works for them.

Fusebill’s hosted pages can be:

  • fully customized to your business’ branding,
  • tailored to geographic regions, and
  • a powerful growth tool.

Improve dunning management

Unpaid invoices piling up? The longer they sit, the harder they are to collect on, creating a major revenue leak for many subscription businesses.

Businesses can lose between 1% and 5% of their revenue to leakage without proper dunning management.

Yikes.

We’ve seen many businesses save thousands of dollars and many hours as a result of our dunning management feature set. In fact, construction software provider CoConstruct was able to recover $2000 and 40 hours each month thanks to features like automated:

  • credit card updates,
  • payment retries,
  • dunning communications, and
  • accounts receivables aging reports.

With these dunning tasks running automatically in the background, you free your team up to focus on more important things while ensuring your SaaS business retains its revenue.

With highly detailed AR aging reports, however, Fusebill takes things a step further.

See your total amount due broken down by due date or, even better, by your likelihood to collect. When customers are dissatisfied or unresponsive, you can’t count on that revenue—and risk losing them altogether. Accurate insights like this allow you to make informed business decisions to optimize revenue as you grow.

Rapidly implement

Some subscription billing software providers boast a one-month turnaround time on implementation, while others can take a full year or more to get your business using the software.

Fusebill’s average implementation time is 60 days—fast enough that you won’t be waiting forever to get up and running, but with enough buffer time to allow for comprehensive testing before going live. Our onboarding process is swift and thorough.

With a little preparation, transitioning to an automated subscription billing platform is quick and efficient. If you’re ready to optimize billing, improve your financial audit trail, and streamline your customer experience fast, Fusebill is the platform for your business.

Retain human interactions

While we sell software to enable automation, we know there are some situations where a personal touch is important and appreciated. In fact, 40% of customers understandably prefer talking to a real person for complicated interactions like payment disputes.

Software shopping for your subscription business can be a very repetitive process, requiring you to fill out form after form. And if your business is particularly niche or complex, it can be hard to explain the nuances of your business or goals through text.

When evaluating Fusebill, you have the opportunity to connect with a real person, even in the early stages. We want to understand your business goals to make sure we’re a good match.

Likewise, our customer success and support teams are made up of people who want to watch your business succeed and grow along with us. Need to call us about a problem you’re having with the software? We genuinely want to help.

Fusebill: a subscription billing platform for success

Finding the right subscription management system for your subscription business takes work. You’re comparing pricing, compatibility, implementation time, and so much more.

If you’re looking for a highly intelligent platform that streamlines your recurring payments, integrates with your tech stack, has a flexible catalog, and retains customers and revenue, look no further than Fusebill. With built-in accuracy and data reporting, you can rest easy knowing that your financials are taken care of while also making the billing process simpler for your team.

Tags: Subscription Billing

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The Complete Guide To Subscription Billing