Subscription management in OneBusiness refers to managing customer subscriptions on a periodical basis.
It may include software trials, gymnasium subscription, software as a service subscription.
OneBusiness Subscription Management:
One business, the best cloud ERP Australia Subscription billing is a useful transaction to bill your customer once or on a cyclical basis.
OneBusiness is a standard subscription model, and we can customise for customers having their tenancy on the cloud.
The subscription transaction will automatically post the values to your G/L accounts according to the G/L transaction configuration set, as part of your basic configuration setting in OneBusiness ERP.
The subscription business model is useful to retail businesses too.
Users can track the customer’s list, last billed amount, validity start date and validity end date on the transaction dashboard.
The ready to reckon information makes this transaction so appealing to your customers. Set it up once correctly and, the system will do the rest. Users will have to monitor it regularly though.
What is a subscription business model?
One business, the best cloud ERP Australia uses subscription-based access to the software on AWS cloud. It is a monthly or yearly fee to access a product or service. If you are an organisation and using OneBusiness to handle your business, you can use this feature to collect subscription from your customers.
Subscription revenue model
One business, the best cloud ERP India revenue model helps you capitalise on the building relationship with your customer relationships.
We strongly believe in the experience that periodical revenue models lead to higher revenues and stronger customer relationships.
This combining growth is a boom to the business in terms of customer growth. Through subscription model, customers become an integral part of your business.
You can capitalise the new revenue potential with flexible plans and pricing that will suit your customers.
You can provide part of the software for a lesser subscription amount.
Customers hop into new service as they start using your software.
The subscription model attracts customers as you do not expect them to invest huge sum of money upfront.
You can introduce a discount on a subscription to improve the goodwill between your organisation and customers.
CRMs: OneBusiness CRM
Financials: OneBusiness Financial accounting
Advantages of subscription management
You can track and manage subscriptions
Strong relationships with your customer
Chances of onboarding your customer with your new products
Continuous updating of your customer with e-mail campaigns
It will decrease turbulence and increase lifetime value.
Flexibility: This business model doesn't bind the customers with contract and gives them the flexibility to discontinue
No Initial investment Cost: your customers are not locking the capital in a high investment for the software tools
No upfront payments: It suits best for smaller start-ups. They can check the suitability of the software for some time and then decide on the next action.
Better Service: The service provider will ensure the team provides a better service to retain the client cohort.
It is essential to sustain the business since customer satisfaction is the key to avoid subscription withdrawal.
Simple Pricing Structure: The subscription pricing is often simple and straight forward.
Maintenance support: The subscription pricing will take care of product version upgrade and the maintenance of the software. Customers need not allocate a budget for these critical activities.
The subscription model often results in a higher operating cost for the customers over some time.
The subscription model incurs a higher total operating over a while.
A risk of the closure of the service provider company will put customer's business at risk.