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Recurring Billing Software


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NetSuite logo
 
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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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
 
Sage Intacct logo
 
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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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
 
Multiview logo
 
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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54
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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
 
Deskera ERP logo
 
Deskera ERP is a cloud-based enterprise business management suite that automates sales, billing, fulfillment, distribution (including pick, pack and ship process), sales commission calculations, purchasing, payment processing, product... Read More
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50
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Deskera ERP is a cloud-based enterprise business management suite that automates sales, billing, fulfillment, distribution (including pick, pack and ship process), sales commission calculations, purchasing, payment processing, product... Read More
 
ScaleFactor logo
 
ScaleFactor is a cloud-based business accounting solution suitable for small and midsize companies. It helps businesses to automate complex accounting workflows and translate financial information into actionable insights. Key features... Read More
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ScaleFactor is a cloud-based business accounting solution suitable for small and midsize companies. It helps businesses to automate complex accounting workflows and translate financial information into actionable insights. Key features... Read More

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SAP ERP Core Finance logo
 
SAP S/4HANA is an integrated enterprise resource planning (ERP) software suite designed to serve businesses of size and kinds. SAP ERP is used to address the needs of many industry verticals including manufacturing, retail, service... Read More
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SAP S/4HANA is an integrated enterprise resource planning (ERP) software suite designed to serve businesses of size and kinds. SAP ERP is used to address the needs of many industry verticals including manufacturing, retail, service... Read More
 
AccuFund Accounting Suite logo
 
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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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
 
Financial Edge by Blackbaud logo
 
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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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
 
ReliaBills logo
 
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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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
 
Abila MIP Fund Accounting logo
 
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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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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Fusebill logo
 
Fusebill provides businesses with cloud-based financial and accounting processes, including billing and invoicing, financial reporting and more. The system is suitable for small businesses, as well as midsize companies seeking a scalable... Read More
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Fusebill provides businesses with cloud-based financial and accounting processes, including billing and invoicing, financial reporting and more. The system is suitable for small businesses, as well as midsize companies seeking a scalable... Read More
 
AccountingSuite logo
 
AccountingSuite is a cloud-based, integrated accounting and inventory management solution designed for businesses of all sizes and industries. Key features include sales and purchase order management, project and time tracking, multitasking,... Read More
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AccountingSuite is a cloud-based, integrated accounting and inventory management solution designed for businesses of all sizes and industries. Key features include sales and purchase order management, project and time tracking, multitasking,... Read More
 
Activity HD logo
 
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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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
 
VersAccounts Small Business Cloud ERP logo
 
VersAccounts is a cloud-based enterprise resource planning (ERP) solution designed for small manufacturers and distributors. The solution offers tools to consolidate data related to finances, inventory, revenue, costs and more. Within... Read More
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VersAccounts is a cloud-based enterprise resource planning (ERP) solution designed for small manufacturers and distributors. The solution offers tools to consolidate data related to finances, inventory, revenue, costs and more. Within... Read More
 
Abila MIP Advance™ logo
 
Abila MIP Fund AccountingAdvance is a finance management and fund accounting solution designed to serve nonprofits and municipalities. The solution can be deployed on-premise, in the cloud or be self-hosted. Abila MIP is an integrated... Read More
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Abila MIP Fund AccountingAdvance is a finance management and fund accounting solution designed to serve nonprofits and municipalities. The solution can be deployed on-premise, in the cloud or be self-hosted. Abila MIP is an integrated... Read More

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Microsoft Dynamics GP logo
 
Microsoft Dynamics GP is a hybrid enterprise resource planning (ERP) solution that helps small and midsize businesses to integrate their data and resources across various departments and locations. The solution can either be deployed... Read More
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Microsoft Dynamics GP is a hybrid enterprise resource planning (ERP) solution that helps small and midsize businesses to integrate their data and resources across various departments and locations. The solution can either be deployed... Read More
 
Oracle JD Edwards logo
 
Oracle JD Edwards EnterpriseOne is a cloud-based Enterprise Resource Planning (ERP) and supply chain management solution that provides ERP applications and tools for finance, consumer goods, human resources, distribution and manufacturing... Read More
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Oracle JD Edwards EnterpriseOne is a cloud-based Enterprise Resource Planning (ERP) and supply chain management solution that provides ERP applications and tools for finance, consumer goods, human resources, distribution and manufacturing... Read More
 
SoftCo AP Automation logo
 
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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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
 
Sparkrock logo
 
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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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
 
Restaurant365 logo
 
Restaurant365 is a cloud-based accounting solution for restaurants of all sizes. Key features include accounting, inventory, banking, budgeting and analytics. Restaurant365 offers general ledger features such as retail fiscal periods,... Read More
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Restaurant365 is a cloud-based accounting solution for restaurants of all sizes. Key features include accounting, inventory, banking, budgeting and analytics. Restaurant365 offers general ledger features such as retail fiscal periods,... Read More
 

Buyer's Guide

by Zach Hale,

Last Updated: September 12, 2018


Managing recurring expenses is no easy feat.

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 serious consequences.

Fortunately, there's recurring billing software specifically designed to prevent late payments, automate bills and take the stress out of the process.

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.

Free Download:
Accounting Software Pricing Guide

Free Download:
Ten Steps Guide to Selecting the Right Accounting Software

 

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