Top 7 Best Subscription Management software for SaaS businesses

Have you been looking for a top-class Subscription management software platform for your SaaS business?

And you also want to make sure that it handles most, if not all the important tasks and has everything that a software- as –a–service (SaaS) business needs in a subscription management system.

Well, Subscription Management is not an easy process. It includes various tasks including capturing the customer details, generating invoices, collecting payment and a lot more.

Thus, Subscription management software can be an amazing place to handle large clientele.

In this article, we are recommending the top seven software that has desired features that will fulfil all responsibilities of being the best subscription management system.

Below we have developed a short guide on how to select the best subscription management software for your SaaS business.

What is the Subscription Management Software?

Subscription management software is a secure and advanced way to manage data of recurring products and services that are generated within a business.

A subscription management software enables businesses to accurately manage subscriptions and payment processing, that is, for instance, making sure that the right customers are being charged with the right month every month and much more. 

This is done to avoid making a single bulk payment. Instead of paying once, the full payment of the software or services are broken down to sub payments or smaller payable amounts that are then paid on a monthly basis, also called membership management.

A subscription Management software also manages the number of customers subscribes to a business’s product or services, to automate the management of subscriptions based payments.

Features a subscription management software should embody

• Subscription management
• Integration of inventory software
• Detailed analytics reports
• Invoice reminders

Role of a SaaS subscription management software.

• Upgrading customer information
• Upgrading subscriptions
• Downgrading subscriptions
• Performing customer- orient tasks
• Provides access to insightful reporting based on revenue and users that have subscribed
• Saving time
• Offers robust security

Best Subscription Management Software To Try

Below we are enlisting our Top seven subscription management software for SaaS businesses you can use-

 1. Chargify

Chargify is a billing and revenue management platform that enables a business to manage their subscriptions and recalling bills.

Chargify, for a SaaS business, generates billing history, access plan changes, current balances, renewal dates, active coupons and much more just so the customer relations remain managed tirelessly.

Built for fastly growing B2B SaaS businesses, Chargify gives out services for billing and revenue management, Chargify stays on the pedestal of most recommended and preferred Subscription management software for SaaS businesses.

To keep the changes informed, it edits customer details and billing information,  and also changes plans and modifies required component quantities or price point while maintaining subscription modifications.

Chargify works for all kinds of enterprises. Hence, you can use Chargify to handle billing and revenue management for your SaaS business needs.

Get Chargify for-

Great automating process and for meeting PCI standards.

Features-

• Personalised billing
• Custom pricing
• Billing automation
• Event-based billing
• Billing adjustments
• Dunning collections
• Plan changes
• Performance packages and more

Pricing-

• Essential plan- $599 per month (includes: events-based billing, analytics and intelligent dunning, customer hierarchies etc.)
• Standard plan- $1,499 per month (Includes: all feature of essential package, advanced analytics, Events- based billing, SFDC integrations)
• Professional plan- $3,499 per month (includes: all features of the standard plan, bespoke integrations. Dedicated technical architect, billing health check-ups etc)
• Custom plan- Has a user-friendly package based on a user’s need ( includes: prices depending on- features included) package is built to fit a user’s needs.

 2. Recurly

Recurly will help your SaaS businesses to streamline billing functions. It is designed to smooth out the process of collecting payments by providing features of recurring billing solutions.  

It is a cloud-based system that provides billing and invoicing services. It easily integrates with infamous payment gateways such as Paypal, Sagepay, Stripe etc.

It has a dashboard that makes tracking of all users and payments that pertains to their counts easier.

Recurly is one of the free membership software. It gives you an option of a free trial for a certain number of days, which you can try out if Recurly is all you need is a subscription management software or not.

It comes with three different packages that are available for any type of business. Does not matter, if your businesses have five users or thousands, Recurly’s payment processing gateway is developed to handle any level of business.

Its elite packages carry all the below-mentioned features and further adds that works generously including, advanced analytics, multi-currency support and integrations with CRM, Accounting software and platforms and more.

Get Recurly for- 

It’s a solid level of customer support. Get it for its integration abilities with other packages, including (CRMs) QuickBooks, Freshbooks, sage business cloud accounting and Xero.

Features-

• Trials and setup fees
• Automated communications
• Invoicing and billing
• Rich report data
• One-time transactions
• Build REcurly integrations
• Plan management
• Recovers lost revenue
• Dunning management

 Pricing-

• Free trial available.
• Core package- $99 per month (includes: credit card billing, card only subscriptions)
• Enterprise package- $299 per month (includes: has multiple payment options such as credit cards, checks, international currencies. Also includes credit card billing, multi-currency support. Salesforce integration.)
• Custom Package- generates a plan for the business that can process more than $500,000 a month.

 3. Fastspring

Built specifically for eCommerce vendors, FastSpring has been in the market for over ten years. 

It manages recurring billing and subscriptions. It makes office operations, such as managing sales tax, VAT filing, billing, order processing and recurring billings accomplished on a monthly/ regular basis without aggravations.

Designed for month-to-month billing software as a service (SaaS) and for similar ongoing subscription models.

FastSpring offers customizable subscriptions, where these customizable packages can be built upon users’ need for specific amounts, subscription length or frequency.

Get FastSpring for- 

Ease of use, excellent for eCommerce vendors, Good reporting and good customer support.

Features-

• Mobile payments
• Payment processing
• Recurring/ subscription billing
• Multi-currency
• Tax calculation
• ACH payment processing
• Debit/ credit card processing
• Reporting/ analysis

 Pricing-

FastSpring has not made its pricing plans for its product or services public. To get a quote, contact the FastSpring team or their customer support.

 4. Chargebee 

Chargebee is best for easily managing subscription and invoicing. As a cloud solution, Chargebee has the ability to stand up to your business requirements and is capable of adjusting to changes when there’s a need.

Its highly adaptable nature will help your fast-growing SaaS business to automate recurring billing tasks, renewals, collections and reconciliation.

It connects with over 30 payment gateways worldwide, which makes ChargeBee amongst the top recommendations for subscription management systems and recurring billing software.

Chargebee is ideal for vendors that like to keep tabs on metrics by analysing data dynamically.

All-in-all it is a flexible subscription management solution that can be employed alongside other systems.

Get ChargeBee for –

If you have large business needs. Get it for advanced invoicing, customer user roles, multiple payment methods, multiple tax profiles and customer support.

Features-

• Revenue forecasting
• Usage tracking
• Payment terms
• Personalised billing
• Custom pricing
• Automation
• Dunning management
• Performance packages

 Pricing-

• Launch– $0 (for newly launched business making less than $50K. excellent for Startups)
• Rise– $249 per month ( 10 team users, unlimited payment gateways. Comprehensive SaaS metrics, Salesforce plugin and more)
• Scale– $549 per month (includes rise features, 25 team users, smart dunning, engineering consultation, PCI certification Assistance)
• Custom- contact FastSpring’s product experts for tailored pricing.

5. Salesforce billing

Salesforce Billing is a solution of Salesforce Quote- to – cash product which automates quote, configure products, price orders, and generate quotes. 

Its product configuration feature is used to define product bundles, dependencies and exclusions. It also manages revenues and subscriptions including invoices, sales tax and VAT, payments and subscription billing.

Salesforce billing also enables users to bill monthly, quarterly, annually or any other term of time usage that clients desire.  

Subscription billing also enables quick upgrade, downgrade and pro-rate subscription all with automated calculations.

SalesForce builds easy and accurate quotes. It creates faster and cleaner proposals.

Get SalesForce for- 

Creating faster and cleaner proposals. For automated subscription billing process. For easy management of recurring billing programs. For its ability to provide billing flexibility. For easy integration with other Salesforce platforms. Including Salesforce CRM.

Features-

• Product configurator
• Multiple pricing options
• Multiple quote lines item editing
• Pricing and discounting rules
• Electronic signature integrations
• Generate quotes
• Create proposals and contracts
• Usage tracking/ analytics

Pricing-

• Salesforce Billing has not enclosed their price plans/ packages.

6. BareMetrics

Baremetrics is one-click, zero-setup subscription analytics and insights. 

It is an analytics solution designed for SaaS companies with recurring billing. With just one click, it gives you easy creation of a dashboard from drop-down lists of metrics. Hence the name bare metrics. Doing bare generates analytics and insights.

Baremetrics allows you to create customer profiles. These profiles show customer values, their activity in the forms of graphs and timelines, and their personal information, this comes under contact management.

With Baremetrics you can easily customize with real-time notifications that the app would generate daily, weekly or monthly reports on metrics that are important for your business and team.  

 Features-

• Activity dashboard
• Search/ filter
• Statement generation
• Alerts/ notifications
• Built-in database
• Customer accounts
• Financial reporting
• Forecasting
• Sales reports
• Real-time reporting

 Pricing-

• Free Trial available
• Business– $249 per month 5,000 paying customers
• Professional– $149 per month with 2,500 paying customers
• Startup $79 per month with 1,000 paying customers
• Hobby– $29 per month with 100 paying customers

7. SaaSoptics

SaaSOPtics is a cloud-based subscription management tool that comes with automated financial operations that you can then use for growing and managing your own B2B SaaS businesses.

SaaFOptics generates accurate SaaS metrics and analytics quickly, scales billing and makes smooth payments and automates GAAP/IFRS- compliant revenue recognition.

In simpler terms, SaaSOptics makes it extremely easy to generate metrics and runs payments smoothly without hiccups.  

SaaSOptics is trusted by investors, it has served more than 800 customers worldwide and has managed to generate $8 billion in revenue.

It easily gets integrated with CRMs. Other optional Add Ons are collection and dunning, payment processor integration, multi-currency support, API etc.   

Get SaaSOptics for- 

Order management, revenues recognition, billing and invoices, payments and customers and renewals. If you have a demand for unlimited users. Get it if you are unwilling to pay any transaction fees, overage charges or per-invoices fees. If you have been looking for guided onboarding, setup and optional data migration services.

Features-

• Order management
• Revenue forecasting
• Usage tracking
• Custom pricing
• Personalized Billing and invoices
• Collections and payments
• Packages
• Digital and recurring billing
• Payments terms
• Accounting integrations
• ERP integrations
• CRM and sales

Pricing-

• Starts from $500 per year. for other pricing packages and plans contact SaaSOptics.

Conclusion

In this article, we have enlisted the popular and majorly used Subscription management software along with their features and pricing details.

The above comprehensive list of software for business might have given you an idea about the subscription management tools that have been used by SaaS businesses to maintain subscription and recurring billings. 

You should, without hesitation, go ahead and select the one that fulfils your SaaS Business needs and requirements of recurring billing software, membership system or customer service SaaS. It works for all!!

Also Read:

• 10 Best SaaS Tools to Boost Business Growth
• 17 Best SAAS Server Monitoring Software & Tools
• 10 Best Billing and Invoicing Software For Small-Business