Whether you are shifting your subscription business from a manual to an automated subscription management system. Just transitioning the platform, the decision is not an easy one. There are many factors that have to be considered when you move your business from one platform to the other. First of all. It is better to have feedback from your customer base because they are the ones who bring you revenue. Customer satisfaction is important for every subscription-based business. So, go for the feedback from the customers before you finalize anything.
Following are some of the features that you need to look for while hunting for a subscription management solution.
5 Ultimate Features In Your Subscription Management System
Many businesses are up for subscription management system transitioning just because their system is no more capable of managing their increasing number of subscribers. So, if you are shifting from one subscription handling software to the other, then you must see if the new system can manage your customer base or not.
Today, almost all subscription businesses are catering to international customers. It is important for them to have the feasibility to manage their business remotely. If you need this feature as well, then always look for a subscription management platform that is cloud-based. When the subscription management system runs on the cloud, you can access the system from anywhere in the world.
Multiple Payment Gateways
You also need multiple payment gateways. Why? It is because the payment gateway makes the transactions secure by encrypting the customer account information. However, when the payment gateway is down, the payment cannot be processed. So, when you have multiple payment gateways, the payment will be processed from the other gateways if one is down for the time being. Also, some international clients demand a specific payment gateway. So, it is always beneficial to employ a system that supports multiple currencies.
Multiple Payment Methods
When you look for subscription handling software, try to look for one that offers your customers to pay their subscription fee through multiple payment methods. Today, in the digital realm, you will find subscribers of every age. And you cannot afford to turn them down. The problem is young subscribers prefer digital payment methods.
However, people who are comparatively older go for payments through their credit cards because it offers them customer protection. So, it is better to adopt a subscription handling software that can offer your customers to pay a subscription fee through multiple payment methods.
Third-Party Application Integrations
Your subscription management software that you adopt must offer third-party application integrations. It has to be flexible enough to integrate with other software. The flexibility of the software enables the system to integrate other applications. Integrations enable you to scale your subscription business with time. It is possible that for the time being you need limited functionalities of the subscription management software that you use.
However, businesses expand and your subscription handling platforms are not the products that you can use and transition from one to the other every day. Thereby, look for the subscription handling software that can be integrate with other applications so that even after a few years when you will need advanced functionalities it can integrate other software.
If you are looking for a SaaS subscription management software, then your software should have all the features that are mention above. However, SubscriptionFlow is one of the robust platforms that you can use for subscription management and enjoy all the features mentioned above.
Subscription management software plays a crucial role in satisfying customers and scaling the business. Whether you are moving your business from one subscription management system to the other or if you are currently manually handling subscriptions and planning to shift to the automated subscription handling software, invest money cautiously.