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The best subscription billing software for SMEs

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The GoCardless content team comprises a group of subject-matter experts in multiple fields from across GoCardless. The authors and reviewers work in the sales, marketing, legal, and finance departments. All have in-depth knowledge and experience in various aspects of payment scheme technology and the operating rules applicable to each. The team holds expertise in the well-established payment schemes such as UK Direct Debit, the European SEPA scheme, and the US ACH scheme, as well as in schemes operating in Scandinavia, Australia, and New Zealand. See full bio

Last editedFeb 20232 min read

You have a small business. But you also have big ambitions: you don’t want your small business to stay small. At the same time, you know what can happen when a company’s reach exceeds its grasp. Companies trying to grow too much too quickly can find themselves with cash flow bottlenecks as their capital expenses exceed their earnings. Their teams are stretched too thinly, and customer service inevitably suffers. Or their growth can be curtailed by erratic sales or high customer churn.

This is why scalability is so important when growing your business. Subscription billing lends itself very well to business scaling. With the right software, subscription billing is secure and manageable both for businesses and their customers.

What is business scaling?

Although most people use the term scaling interchangeably with growth, they are different. Think of scaling as the mechanism allowing your company to grow sustainably.

Business scaling requires forward planning, a proactive approach to marketing, realistic understanding of the company’s resources and a consistent revenue stream.

This is why the subscription model has become so popular in recent years. It gives you a consistent revenue stream as well as ongoing opportunities to connect with customers, build value in the brand and thereby reduce churn.

Why is recurring billing useful for scaling my business?

Recurring billing keeps customers on board until they opt out, giving your business a consistent revenue stream if you use a subscription model. This includes food subscription boxes, health and fitness products, subscription plants and flowers, content streaming services, and of course SaaS.

It’s important to note the difference between subscription billing and recurring billing.

While both collect regular automated payments, recurring billing offers only one pricing plan, making revenues the same, month on month. Subscription billing enables customers to alter their plan and either increase or decrease the amount they pay. This provides upselling opportunities to potentially drive future revenue while also providing a product or service of greater value for the customer.

What is the best subscription billing software?

We now know how subscription billing can help you to scale your business. What’s the best software for this? Let’s take a look at some of the best platforms for collecting subscription payments from customers.

Chargebee

Chargebee enables businesses to accept subscription payments in 100 different currencies, with a huge range of payment options (flat fee/usage-based/custom). It also provides integration with over 20 payment gateways, and even has a free option.

Chargify

Chargify is designed specifically for B2B companies, making it a great choice for SaaS providers. It has an easy-to-use dunning system to prevent missed payments, and facilitates month-to-month subscription with no commitments.

Wave

Wave is an all-in-one financial management tool with an impressive suite of features including software for invoicing, accounting and receipt scanning, as well as collecting subscription payments. Best of all, it’s completely free to use.

Zoho

An intuitive interface, affordable pricing and a comprehensive suite of capabilities make Zoho a great choice for microbusinesses and freelancers.

GoCardless

GoCardless lets you take recurring payments directly from customers’ bank accounts via direct debit. This provides security and assurance for both you and your customers, potentially saving businesses a fortune in time costs and reduced receivables. And because GoCardless partners with Zoho, Chargebee, Xero and more, businesses can easily integrate this payments service with their existing infrastructure to make better payment collection a breeze.

We can help

GoCardless is a global payments solution that helps you automate payment collection, cutting down on the amount of financial admin your team needs to deal with. Find out how GoCardless can help you with one-off or recurring payments.