Set up and process recurring payments with ease using our cost-free, automated subscription management solution. After the initial authorisation of direct debit, PayPal, credit card or invoice transaction, payments are processed automatically until cancellation.
Is it always easy to run a subscription service? Would your customers be happy to pay every cycle with confidence? What if some transactions fail to process? These are tough questions that need an answer. Subscription management software deals with these questions to make both the customers and the business owner happy through automated service.
Subscription management is the best way to run a business. The advantage of running a subscription business lies in cash flow reliability and predictability. However, with hundreds or thousands of customers, the problem lies in managing a subscription service. As the sheer volume of customer rise, manual processing is unimaginable and can lead to unfavourable business conditions.
The subscription management service is the answer to run your business operations smoothly. The service is fully automated from where the customer registers for the service to the end of his subscription. In addition, customers feel at ease to pay since the payments are guaranteed, and the company follows the PCI DSS compliance standards.
1. Activation
In the beginning, the customer account is created. Most often, businesses attract customers through a trial service. The customers billing details are stored at this point.
2. Process recurring payments
The recurring payments are processed automatically to save time and be more efficient.
3. Monitor incoming payments
The incoming payments are continually monitored to check for fallacy. In case of any error reports, the business owner can identify and take appropriate measures.
4. Dunning Management
If payments are not received on time, it gives way to dunning management. In addition, reminder emails are set to be sent to customers based on email settings.
5. Reporting
Everything is recorded and stored. So you can get an overview of the entire process in a convenient dashboard.
Don’t miss any more transactions. At times, customer’s transactions fail for several reasons. How can you detect failed transactions among thousands of transactions? Manual detection is simply impossible. Instead, the automated feature of the subscription software automatically detects for you. Based on these reports, you can now deal with failed transactions.
Subscription services are a good business model, and many businesses lately opt to deliver services through subscription. However, with thousands of customers enrolled in your firm, it is challenging to manage the entire service.
The automized alternative to process subscriptions works flawlessly and makes customers happy. Further, the guarantee of payments and operating under PCI DSS compliance standards instils confidence among customers.
Antony Robinson is the Chief Marketing Officer at Novalnet. He is an information technology expert and an avid reader with more than 30 years of experience in web technologies, UX, media and marketing. He has extensive experience in managing global teams in every inhabited continent.
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