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Recurly

Developed to help companies streamline billing functions, Recurly is a cloud-based system providing billing and invoicing capabilities. Recurly integrates with several payment gateways, such as PayPal, Stripe, SagePay and more. Recurly... Read More
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Sage Intacct

Sage Intacct is a provider of cloud-based accounting software. Sage Intacct’s applications are suitable for small and midsize companies and can provide real-time financial and operational insights as well as the ability to automate... Read More
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ChargeOver

ChargeOver is a standalone billing and invoicing solution designed for businesses across all industries that operate using a recurring billing or subscription billing model (small to enterprise-level). The platform offers a range... Read More
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Freshbooks

Freshbooks is a web-based accounting solution that caters to small businesses. Freshbooks serves various industries, such as marketing, legal services and business consulting, trades and home services and information technology (IT). Key... Read More
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Sage 300 Construction and Real Estate (formerly Sage Timberline Office)

Sage 300 Construction and Real Estate, formerly Sage Timberline Office, is part of Sage’s line of construction and real estate solutions. Sage 300 Construction and Real Estate is a construction management system that offers functionality... Read More
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Sage 100 Contractor (formerly Sage Master Builder)

Sage 100 Contractor, formerly known as Sage Master Builder, focuses on small to midsize construction companies, whether they are a general contractor, service or specialty contractor or a home builder. Suitable for companies that... Read More
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Oracle JD Edwards

JD Edwards Financial Management is the accounting component of Oracle's JD Edwards EnterpriseOne (JDE e1) product line. This component can serve businesses of any size. The system is horizontal; it is designed to serve the needs of... Read More
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Microsoft Dynamics SL

Microsoft Dynamics SL is an enterprise resource planning (ERP) system designed for project-based small and medium-sized businesses. The solution offers industry-specific capabilities for professional services, government contractors,... Read More
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Microsoft Dynamics AX

Microsoft Dynamics AX 2012 is an ERP system suitable for midsize to large enterprises. The solution has particular strengths in manufacturing and distribution but is also capable of serving buyers across multiple industry verticals.... Read More
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SAP Business One

SAP Business One is an integrated enterprise resource planning (ERP) software suite designed primarily to serve small to midsize businesses. SAP Business One is used to address the needs of many industry verticals including manufacturing,... Read More
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Cougar Mountain DENALI

Cougar Mountain Software offers a business accounting software for manufacturing, nonprofits and public services organizations. Their flagship product Denali is a core accounting solution with applications for general ledger, accounts... Read More
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UNIT4 Financials

Unit4 Financials (formerly Coda Financials) is a suite of global accounting and broader financial management applications. These include general ledger, accounts payable and receivable, fixed assets, budgeting, project accounting and... Read More
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NetSuite

NetSuite is a business management software suite offered as a service that performs enterprise resource planning (ERP) and customer relationship management (CRM) functions. It is a horizontal package designed for an extensive range... Read More
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Abila MIP Fund Accounting

Abila MIP Fund Accounting from ProSoft Solutions is a finance management and fund accounting solution designed to serve nonprofits and government agencies. The solution can be deployed on-premise, in the cloud or be self-hosted. Abila... Read More
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Flexi Software

Flexi Software is a financial accounting and process-driven workflow software solution for the banking, insurance, financial services, healthcare, and other service industries. The accounting solution is fully integrated, providing... Read More
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AccuFund Accounting Suite

AccuFund is an online accounting and financial reporting solution designed specifically for the nonprofit industry. Integrated into one, AccuFund's Accounting suite helps nonprofit organizations and government agencies report funding... Read More
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Unanet Project Portfolio Financials

Unanet Project Portfolio Financials consists of one software application with integrated capabilities to manage, plan and track projects, people and financials in real time. Available as a Software-as-a-Service (SaaS) offering or an... Read More
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Microsoft Dynamics GP

Microsoft Dynamics GP is a financial accounting system designed to meet the requirements of small to midsize businesses. Microsoft Dynamics GP was originally developed by North Dakota-based Great Plains Software and was acquired by... Read More
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Financial Edge by Blackbaud

Financial Edge NXT is a cloud accounting solution from Blackbaud that provides transparency across teams, security, compliance, and reduces the need for manual processes. The system is a fund accounting solution that provides a general... Read More
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Multiview

For organizations seeking a solution that conforms to their existing operations, Multiview offers a suite of financial solutions. With Multiview, companies gain visibility over corporate data. The solution includes 14 modules that... Read More
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InFocus

Founded in 2007 by A/E industry veterans, Clearview InFocus is a scalable, comprehensive billing and invoicing and project management solution that also includes full financials. This is the flagship product for Clearview and its sole... Read More
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Unit4 Business World

Unit4 Business World is a scalable ERP solution designed to address the unique demands service organizations face. It offers multi-lingual and multi-currency capabilities, and is a fit for higher education, nonprofits and NGOs, professional... Read More
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FinancialForce Financial Management

FinancialForce Financial Management (FM) is a cloud-based system built to provide a complete financial management solution for sales and services-orientated companies of all sizes. FinancialForce FM has several inherent applications,... Read More
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Infor CloudSuite™ Financials & Supply Management

Infor CloudSuite Financials & Supply Management is a solution suite that provides financial functionality coupled with a source-to-settle supply management offering. The solution is role-based, mobile responsive and delivered in the... Read More
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Activity HD

nQativ’s Activity HD is an accounting and payroll solution suitable for small to mid-size companies. It offers tools to sort, filter and present data, plus security features to satisfy data confidentiality requirements. Activity... Read More
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Exact Globe Next

Exact Globe Next is an end-to-end business management solution. It offers accounting, inventory management, billing and invoicing, financial reporting, and more. This ERP system can be deployed either on-premise on a local server,... Read More
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Xledger

Xledger is an automated and scalable cloud-based accounting/ERP solution for medium- to large sized companies and is designed to provide insight and analytics for decision-makers. The system is an out-of-box solution that is configurable... Read More
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Fusebill

Fusebill provides businesses with cloud-based financial and accounting processes, including core accounting, billing and invoicing, financial reporting and more. The system is suitable for small businesses, as well as midsize companies... Read More
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Deltek Ajera

Deltek Ajera is an integrated accounting and project management solution built for architecture and engineering (A/E) firms. It is suitable for small to mid-size firms seeking an industry-tailored solution to improve project level... Read More
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Deltek Vision

Deltek Vision is a web-based project-based solution for professional services firms that is available for cloud or on-premise deployment. It combines project accounting, resource management, project management, time/expense management... Read More
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Infor SunSystems

Infor SunSystems is an integrated financial management, purchasing, inventory and sales management solution. It is used by more than than 9,000 customers in over 190 countries worldwide. Offered in multiple languages and currencies,... Read More
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VersAccounts Small Business Cloud ERP

VersAccounts is a web-based accounting and enterprise resource planning (ERP) system designed for growing small and midsized businesses looking to gain real-time financial and operational insights. This Cloud 2.0 system enables businesses... Read More
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Certify

Certify is a web-based expense management solution recommended to companies in any industry. The solution can be used to track, approve, and reimburse expenses; book travel; and analyze spend. With Certify Mobile, users can capture... Read More
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Abila MIP Advance™

Abila MIP Advance™ is cloud-based fund accounting software for non-profit organizations and municipalities and has close to 20,000 users across many sectors. The software suite offers a variety of functionalities including general... Read More
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SBS Financials

SBS Financials is cloud-based software designed for multi-entity accounting. The system is flexible and adapts to an organization’s existing workflows. SBS Payroll/HR and SBS Procurement can be added to create an integrated financial... Read More
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EBizCharge

EBizCharge offers a full suite of payment processing, billing and invoicing solutions. It includes payment integrations to accounting/enterprise resource planning/customer relationship management and e-commerce platforms, mobile solutions,... Read More
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Connected Accounting & ERP

Accountek is an accounting software solution available for on-premise deployment. It is suited for small to medium-sized businesses across a variety of industries. Accountek offers connected accounting and enterprise resource planning... Read More
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AXIO Core Financials

AXIO Core Financials from SBS Group is an Enterprise Resource Planning system that is powered by Microsoft Dynamics. The software is designed for global use and offers multi-language, multi-currency support and is compatible with companies... Read More
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Accurants

Accurants is a cloud-based accounting solution suitable for small businesses and freelancers. Key features include modules for time tracking, project management, invoicing and expense tracking. Accurants allows users to invoice customers... Read More
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Acumatica ERP

Acumatica ERP delivers an adaptable cloud and mobile-based enterprise resource planning solution with a user licensing model which enables a real-time view of business operations at any time from anywhere. Through a worldwide network... Read More
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SAP Anywhere

SAP Anywhere integrates sales, marketing, e-commerce, and inventory activities into one complete front-office system. With SAP Anywhere users can manage and track inventory, manage orders, manage the procurement process, and more.... Read More
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Tipalti

Tipalti is a cloud-based accounting management solution that helps users automate their accounts payable process. It offers a variety of features, including invoice automation, payment remittance, regulatory compliance management,... Read More
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Basware Invoice Automation

Basware’s invoice processing solutions include workflow options for a variety of different invoice types, providing insight and control in managing cash. The solution is suitable for small and midsize businesses. Basware offers... Read More
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Sage Live

Sage Live is a cloud-based and mobile-ready accounting platform for small and mid-sized businesses. Key features include multi-company, multi-currency, and multi-legislation support, personalization based on user role, bank integration,... Read More
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ReliaBills

ReliaBills is a web-based billing and invoicing accounting system that is suitable for companies with an annual revenue up to $100 million. The system is available to the following industries: advertising, construction, consulting,... Read More
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Beyond Software

Beyond Software is a project accounting and management software system available for small to mid-size companies. The system allows organizations to manage and execute around their projects by increasing visibility and creating accountability.   Industries... Read More
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NexusPayables for Real Estate

NexusPayables is the only AP Automation Solution built specifically for Real Estate. It is a SAAS-based platform designed to manage the entire accounts payable process from purchase to payment. NexusPayables offers full accounts payable... Read More
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Sparkrock

Sparkrock is an all-in-one solution for large and midsize Nonprofit organizations. It offers Finance & Accounting, Workforce Management, Payroll, Employee Scheduling, Case Management and Donor Management. Each module can be purchased... Read More
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Coupa Expenses

Coupa Cloud Spend Management combines deep knowledge of e-procurement and expense management with a cutting-edge cloud computing architecture to help businesses spend smarter and save more. It brings industry leading innovations in... Read More
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SoftCo AP Automation

SoftCo is a cloud-based and on-premise software that provides solutions in financial process automation. It is designed for midsize to large companies across all industry sectors. SoftCo AP Automation automates the capture of paper,... Read More
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Buyer's Guide

Adulting is hard.

Yes, that's a millennial thing to say, but it's not untrue. You've got to deal with car insurance, housing costs, credit card bills, grocery shopping and on and on and on. There are a lot of things to remember, and missing payments on any one of these important expenses can result in very adult consequences.

Fortunately for all the adults in the world, there's recurring billing software specifically designed to prevent late payments, automate bills and take the stress right out of being a grown up.

Even more fortunately for businesses, the same accounting software can have a major impact on normalizing monthly income, managing customer subscriptions and keeping track of payments from a high volume of customers.

Because of the many benefits for businesses and customers, choosing the right billing software is essential. These systems are offered in a variety of configurations and platforms and at a number of different price points, which makes researching your options crucial to the selection process.

Here's what we'll cover:

What Is Recurring Billing Software?
Common Functionality of Recurring Billing Software
How Is Recurring Billing Software Priced?
Benefits of Recurring Billing Software

What Is Recurring Billing Software?

Simply put, recurring billing software is invoicing and payment software specifically designed to collect on a subscription basis. It's one of those ubiquitous pieces of tech that pretty much everyone uses without giving it much thought at all.

For example, anyone who holds a gym membership has probably been entered into a recurring billing system that holds their payment information, sends regular reminders of upcoming payment due dates and automates calculations for things such as state taxes and discounts.

Recurring billing dashboard from Zoho Subscriptions

Recurring billing dashboard from Zoho Subscriptions

There are plenty of benefits afforded to customers with recurring billing options, but it's hard to overstate the value this software offers to businesses—the number one advantage being that more and more consumers are shifting their preferences toward subscription-based services over pay-per-product models. Consider Amazon Prime. The supply chain goliath's subscription-based service that provides users with access to faster shipping, streaming music and video and discounted products is now estimated to have about 80 million members in the United States.

The lesson here is that customers are willing to pay regular and repeated fees in exchange for goods or services they deem worth it, and, for the most part, any business can find ways to capitalize on the booming subscription economy.

Common Functionality of Recurring Billing Software

Before searching for a recurring billing software that best fits your business needs, you'll want to have an idea of what features are available to you, which ones would be nice to have and which ones are mandatory for your business model.

Here are some of the common functions found in most recurring billing products.

Dunning management Dunning management is a feature specific to recurring billing software that helps users deal with failed payments, i.e., bounced checks or declined credit cards. Whatever the reason for the payment failure, dunning systems can help address the issue in two ways: charge retries and customer communication.

Software should be able to automatically retry processing a payment a few days after the initial decline. Some systems are already programmed with a retry schedule, and others allow managers to determine when and how often the system should retry payments.

It's always important to keep the customer in the loop, but this is especially true when payments don't go through. Most billing systems will be able to send automated, form-based emails to notify customers of payment failures, retry schedules, next steps etc.
Invoicing This one may seem obvious for a billing system, but it's worth noting the specific features of recurring payment invoicing that you should be on the lookout for. The key here is clarity—for you and for your customers. Recurring billing invoices should be able to display every type of charge, including upcoming or missed payments, accrued interest fees, taxes etc. You should also be able to view past invoices for the entire customer relationship history just in case any discrepancies occur.

Additionally, invoicing functionality should be capable of automating the creation, scheduling and sending of invoices as well as enabling customers to complete payments through an electronic portal.
Trial management Trial subscriptions certainly aren't a required feature, but they can help build your brand and name recognition by making your customers more inclined to test out the system and increasing the number of regular subscribers overall. If you decide to offer free trials, you'll want to make sure your billing software can handle tracking these users and either rolling them into regularly paying customers or end their access once the trial period ends.

Trial management features should also include follow-up emails to keep customers informed about when their trial ends and what options they have for continuing the service.

How Is Recurring Billing Software Priced?

There are a number of different pricing models to choose from when determining how to set up your recurring billing process. The most common configurations are:

  • Fixed price. This is the most basic billing configuration that simply charges the same amount each billing cycle.
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  • Quantity-based/add-ons. Begins with a base fee and then allows users to tack on additional services they'd like to have for corresponding additional costs to the weekly/monthly/quarterly/yearly bill.
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  • Metered billing/variable usage. Bill customers according to usage instead of a flat rate.
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  • Packaged pricing. Allows users to select from a list of pre-priced packages or service bundles and pay that rate for that specific set of products or services.
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  • Custom pricing. Allows you to set your own charges for individual customers using whatever pricing system you prefer.

Benefits of Recurring Billing Software

We've already touched on a few of the advantages offered with recurring billing software, but there are a few more—for both the consumer and the business—that are worth being aware of.

For customers, recurring billing systems take away the burden of remembering to make regular payments while also ensuring uninterrupted services—be that in the form of electricity to their houses or regular delivery of expected goods.

For businesses, especially smaller ones, recurring billing is an invaluable tool to normalize revenue and automate payment collection processes, so business owners can focus on other things.