Billig is a sensitive operation for any business. However, when it comes to SaaS, it is even more difficult to choose even the billing model for the business. Even if you choose the best billing model, it cannot help you unless you have the best SaaS billing software. We live in the age of automation and every business needs automated software.
The need for integrated automated platforms becomes two folds for SaaS businesses. Today, in the billing process, the two most important factors include: time and accuracy.
Both these factors play role in strengthening your relations with your customers. Not only that but timely and accurate billing and invoicing lead to the maintenance of the flow of the revenue stream.
And here we are to tell you how the automated SaaS billing platforms play role in making discounts and coupons a success. So, let us delve into the details of it.
Accurate Billing
Accuracy in billing and invoicing is directly proportional to customer retention. Nothing annoys a customer more than the mistakes in the invoices. They are willing to pay, but you ruin their mood to pay by making mistakes from your side. A SaaS billing software helps you avoid all these mistakes.
For instance, in a subscription business, the process of billing and invoicing runs recurrently. The chances of error are more if you manually perform such tasks. However, if billing is managed automatedly, the chances of mistakes in the invoices become minimal. That’s the beauty of technology, the processes that are to be run recurrently, run smoothly without errors. So, when you plan discounts for your subscribers, first look for the best SaaS billing platform that can help you manage your discounts.
KPI Monitoring
Key Performance Indicators (KPIs) are the backbone of any SaaS business. The changes and trends of the KPIs show the performance of a business. It is important to keep an eye on the KPIs related to the billing and invoicing, they interlink with revenue operations as well.
For instance, revenue growth, customer retention, customer lifetime value (CLV), and customer satisfaction are the KPIs that link with the billing and invoicing processes when you offer discounts and coupons. An automated SaaS billing platform offers its customers to monitor these KPIs and see if the billing model serves the business needs or not. When new pricing models or hybrid models are to be curated and tested, KPI monitoring from the SaaS billing system is the source of monitoring the success of these new pricing plans and models.
Customer Satisfaction
Some businesses take customer satisfaction as a KPI. But the satisfaction of customers is linked with many other factors. Billing is one of these important factors. An invoice that a SaaS billing software generates is not just an invoice, but it is an image of your SaaS business. Creating a perfect invoice is not an easy task. It is more complicated when you offer discounts to your recurring customers.
Though pricing of the products and services used by the customers is the core of invoicing, the company logo, upcoming discounts or coupons, and links to pay bills are also part of an invoice. And to keep your customer satisfied, it is mandatory to place everything properly.
Invoices & Transactions History
Automated SaaS billing systems not only generate invoices but also track the history of all invoices and bills. If you have offered coupons or discounts, the history of invoices and transactions will help you identify if the desired outcomes are achieved or not. Though discounts and coupons are perceived to be for the benefit of the customers, companies have their targets behind these discounts. They plan and launch discounts and coupons as strategies. Thereby, it is important to keep monitoring these KPIs to see if the strategy is working fine or not.
If you want to offer discounts and coupons for our SaaS subscription business, then SubscriptionFlow is the SaaS subscription billing platform for this very purpose. Opt for the best subscription billing platform to achieve your targets regarding discounts and coupons.
Invoices & Transactions History
Automated SaaS billing systems not only generate invoices but also track the history of all invoices and bills. If you have offered coupons or discounts, the history of invoices and transactions will help you identify if the desired outcomes are achieved or not. Though discounts and coupons are perceived to be for the benefit of the customers, companies have their targets behind these discounts. They plan and launch discounts and coupons as strategies. Thereby, it is important to keep monitoring these KPIs to see if the strategy is working fine or not.
Automated SaaS billing systems not only generate invoices but also track the history of all invoices and bills. If you have offered coupons or discounts, the history of invoices and transactions will help you identify if the desired outcomes are achieved or not.
