Recurring Billing Solution

There are several ways to approach recurring billing solution, and your company must make the right choice for success. First, you should take into consideration the type of recurring billing your company needs to support. Also, you will need to make sure that the solution you choose matches your way of doing business.

When deciding on a recurring billing solution, consider:

• ease of payment plan set up through the user interface or API;
• ease of adjusting existing payment plans;
• availability of revenue to estimate how much money will come in the future;
• ability to analyze billing history;
• support for decline recycling and other collections process functionality.

Three Types Of Recurring Payments Businesses

Some features may be more important to you than others. Does your company fall into one of the three most common categories of companies dependent on recurring billing?

They are:

Subscription-based online businesses. These companies suspend a customer’s service using the open payment plan model and billing on the yearly, monthly, or weekly. If there’s a problem with a payment, they take little or no collections effort. These companies typically offer a number of payment plans. Therefore they have relatively modest recurring payment feature requirements. Forecasting is simply because there is a number of plans and no adjustments, deferments, or freezes.

Salesforce businesses. Such businesses deal with physical locations. They may use an open payment plan and complex recurring payment needs, including the abili