P A Y V O I C E
HOW TO CHOOSE A
PLATFORM IN 2020
Stripe Subscription Management Software
TOPICS TO BE DISCUSSED
Reporting Lost Opportunities
Subscription billing is one of the most sought-after payment plans when it comes to online offerings
of goods and services between merchants and customers.As such, when you decide to choose a
plan, there are certain factors to consider that will help you in achieving the highest results from
Implementing a subscription billing software will create ease of purchase and other benefits to
include security and flexibility. To find out if the software has the features you are looking for, you
can run various tests and trials to see how they function.
Here are three factors that are vital to look out for that will make the process of running your
business much smoother:
You will want to get a payment service that allows for revenue recognition, as you
will be able to track your growth and progress steadily. Having a multi-purpose
recurring billing system will help you to have multiple details on one platform so
you can easily connect and record your transaction details.
Bear in mind, not all subscription billing plans are free, and as such, you want to
measure your expenditure against your earnings to see the status of the
investment. When choosing the software, it needs to give you the portal to view a
variety of different information, such as your profitable income.
Dunning management should be one of the features you
look for in subscription billing software for 2020, as now is
the time to have an advanced payment structure. When you
have a failed payment request between you and your client,
it can be difficult to manually initiate another charge,
especially if you operate a large business.
What dunning management does is automatically retry the
charging process until it goes through, and if it still fails, an
update will be sent to the customer to notify them of the
issue. A lot of businesses have not utilized software that
offers this option and, as such, lose out on a lot of clients
(as sometimes, clients are not aware of the failed issue).
Dunning management helps with the smooth operation of
your online business as you strive to offer a seamless
service to your clients.
It can be hard to deal with issues like lost opportunities when it comes to
operating a business online. Going through the different steps involved in
completing a successful transaction is easy, yet there is an issue with the final
This is a major cause of concern, as in most cases, you end up losing the
customers because they are not confident in your payment system. Bear in
mind, their personal information may be attached to their cards or bank
accounts, and as such, they may believe your system is faulty and has securityrisk
Also, for those customers you have lost out on, you can contact them through
this medium (lost opportunity report) to notify them the issue as been resolved,
so they are free to try again.
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