Your 2021 Go-to Guide to Choosing a Subscription Billing Platform

Check Your Business Size

  • Stage 1small businesses. Companies who are just starting off primarily need support for acquisitions, as they are now in the process of attracting the first critical pool of subscribers.
  • Stage 2 — medium-sized businesses. Once they reach this size, companies start focusing more on retention. They are looking to maintain or develop their relationship with acquired customers and they need help from a subscription platform to keep users engaged.
  • Stage 3large companies. With growth, businesses reach the expansion stage where their main needs from a recurring billing platform are to support their entrance into new markets, to reach new demographics or to automate internal processes.

Consider Your Business Model

  • Product catalog needs. The more complex your plan configurations and the more versatile your pricing configurations across currencies, the higher the odds that you’ll need a powerful subscription billing platform.
  • Rating engine needs. Consider all the overhead that’s being generated if you use multiple billing models and pricing plans, and how easy or hard it is for you right now to manage upgrades, downgrades, or other plan changes. If these aspects are hard right now, your rating engine might be undersized for your needs.
  • Pricing plan needs. Just about any recurring billing supplier out there can help with regular subscriptions. If your pricing, however, has multiple levels of complexity (usage-billing, regional pricing, one-time charges, etc.), only top-of-the-line subscription platform providers will provide the flexibility needed.
  • Order management. Consider the complexity of your order management and what type of reporting you’ll need. Most recurring billing platforms will effortlessly let you offer free trials. If you’re selling in bundles, though, and even more so if you need custom reporting, opt for one of the established subscription platforms on the market.
  • Billing models. Last but not least, it’s worth checking if the supplier you’re considering can help you bill customers at any frequency your business needs, and if they offer pre- and post-paid billing as well.

Master the Three R’s

Ensure Great Support

Understand Your Usage and Metrics

Ensure a Payment Gateway Is Included

Find the Best of the Best

2Checkout (now Verifone) is the leading all-in-one monetization platform for global businesses built to help clients drive sales growth across channels.

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2Checkout (now Verifone)

2Checkout (now Verifone)

2Checkout (now Verifone) is the leading all-in-one monetization platform for global businesses built to help clients drive sales growth across channels.

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