Recurring billing can be a game changer for technology focused businesses that have a software-as-a-service or subscription-service business model. Here are three major ways that recurring billing can give your business a boost:
Many small businesses experience cash flow problems. This can be due to a number of reasons, but one of the contributors can be inconsistent income. Recurring billing is an excellent way to try and get a more reliable and consistent cash flow. With payments being processed automatically via recurring billing, you know that the income side of the cash flow will be there on a regular basis.
Growth is more predictable with periodic payments being received within a specific timeframe. When you have reliable revenue data from recurring billing, you can calculate growth and how much you can use to develop your business, without worrying too much about whether invoice payments will match the projections.
You can use the Cash Flow Forecaster in Saasu to efficiently track your projected growth. No setup required, just live cash flow forecasting. Click here for more information.
Well, maybe not entirely, but with a recurring billing model of payment, it’s a problem that you’re much less likely to run into. Running on a recurring billing payment system, there’s simply less awkward phone calls and less hassle surrounding payments. Not only that, but on the customer’s end, they no longer have to remember due dates or worry about expensive late fees.
Recurring billing automates the billing process and saves you valuable time for the more important things. Like your business!
Recurring billing in Saasu is simple, and currently works hand-in-hand with the Stripe payment gateway (more connections coming soon). Here is an example of how the process works:
If you’re interesting in a handy guide on how to set up recurring billing in Saasu, you can find one here.