Usage & Data
Pricing Usage Data
Processing Raw Data
The Software as a Service (SaaS) industry has grown tremendously over the last few years. Customers prefer a blend of subscription and usage-based pricing, which allows them flexibility, control and transparency to adjust to changing needs and circumstances. It's also well-liked by businesses, as it provides them the opportunity to scale their business and remain competitive with new and ever changing product offerings and modes of monetization.
As a SaaS business, creating invoices and billing can feel like a huge task if you are still using manual or legacy billing processes. There are a lot of items to be tracked like recurring revenue, usage data, paid and unpaid invoices, etc., that can become overwhelming if your billing system is not equipped to handle the complexities associated with recurring payments.
Are you facing problems keeping your SaaS customers happy? Do you think you are suffering from lower organic growth? Are your customers churning?
In the last few years, we have seen an enormous shift in the way SaaS companies carry out their billing processes. While many software companies once held a one-time purchase approach, the landscape has evolved. Many businesses are choosing flexible subscription and usage-based billing models as they offer several benefits including a steady stream of recurring revenue.
Are you still using manual methods to compile your SaaS billing process? Are you tired of the issues associated with manual billing? Manual billing processes are not only error-prone they can become roadblocks to your scaling processes, especially when dealing with complex pricing models. To position your subscription business for growth, it is important to automate your billing system. An automated billing system lets you focus on scaling your business and increasing cash flows as it eliminates the issues associated with manual billing. An automated system lets you track cash flows, identify new opportunities and predict any problem areas.
Think about your favorite brand. Now think about why it holds the number 1 spot for you? I am sure it is due to all the positive interactions and experiences whether through their customer service, or the benefits derived from their product/service, or the website experience.
In recent years, subscription businesses have grown in popularity. The recurring nature of subscription billing models ensures that businesses generate regular revenue. A subscription model is a dynamic growth tool for businesses, especially startups, that can easily introduce their products to new customers. When you accept recurring payments you are also providing greater flexibility to your customers.
You have an outstanding SaaS product with features that provide great value to your customers. But how do you price the product to remain competitive yet not compromise with profits?
It’s that time of year again. LogiSense is entering the period for our annual Level 1 PCI Compliance audit. With millions of dollars in credit card transactions flowing through our billing software it’s imperative that we offer the security our customers (and their customers) expect when paying for service. We have worked hard with our customers over the past number of years to reduce our footprint, and theirs, to almost nil. There is absolutely no need to have a credit card number (PAN) hit our software or be stored in our database.
Subscription billing platforms such as LogiSense are inherently exposed to highly variable workloads which are a challenge to manage efficiently. Two of the system's primary functions, rating event records and creating invoices, are generally short-lived, compute intensive, high throughput processes that occur at unpredictable times and intervals across a customer base.