Blog Billforward https://www.billforward.io/blog Blog | Billforward en Wed, 30 Nov 2022 17:15:00 GMT 2022-11-30T17:15:00Z en Why Now is the Time to Introduce Subscriptions https://www.billforward.io/blog/introducing-a-subscription-model <div class="hs-featured-image-wrapper"> <a href="https://www.billforward.io/blog/introducing-a-subscription-model" title="" class="hs-featured-image-link"> <img src="https://www.billforward.io/hubfs/andre-taissin-5OUMf1Mr5pU-unsplash.jpg" alt="Why Now is the Time to Introduce Subscriptions" class="hs-featured-image" style="width:auto !important; max-width:50%; float:left; margin:0 15px 15px 0;"> </a> </div> <p><span style="color: #000000;">A large number of companies across the globe are struggling under the high levels of inflation and economic uncertainty. Although now might not sound like the perfect time to adjust your business model or introduce a new offering, the <span style="font-weight: bold;">subscription model</span> is beginning to gain attention for its unique characteristics that offer a level of business protection throughout periods of uncertainty.&nbsp;&nbsp;</span></p> <p><span style="color: #000000;">A number of studies have indicated that customers often opt to continue making small payments for luxuries even in times of financial hardship. Many <span style="font-weight: bold;">subscription companies</span> are centred around small, regular payments (such as monthly entertainment subscriptions for $10 or less per month) which are more <span style="font-weight: bold;">affordable</span> for customers than large one-off payments. As a result of this, despite large overall consumer cutbacks, the <span style="font-weight: bold;">subscription economy</span> isn’t feeling the burn as much as traditional retail.</span></p> <p style="font-size: 14px; font-weight: bold;"><span style="color: #000000;"><em><strong>So, why should you consider introducing a subscription model?</strong></em></span></p> <span style="color: #000000;"></span> <div class="hs-featured-image-wrapper"> <a href="https://www.billforward.io/blog/introducing-a-subscription-model" title="" class="hs-featured-image-link"> <img src="https://www.billforward.io/hubfs/andre-taissin-5OUMf1Mr5pU-unsplash.jpg" alt="Why Now is the Time to Introduce Subscriptions" class="hs-featured-image" style="width:auto !important; max-width:50%; float:left; margin:0 15px 15px 0;"> </a> </div> <p><span style="color: #000000;">A large number of companies across the globe are struggling under the high levels of inflation and economic uncertainty. Although now might not sound like the perfect time to adjust your business model or introduce a new offering, the <span style="font-weight: bold;">subscription model</span> is beginning to gain attention for its unique characteristics that offer a level of business protection throughout periods of uncertainty.&nbsp;&nbsp;</span></p> <p><span style="color: #000000;">A number of studies have indicated that customers often opt to continue making small payments for luxuries even in times of financial hardship. Many <span style="font-weight: bold;">subscription companies</span> are centred around small, regular payments (such as monthly entertainment subscriptions for $10 or less per month) which are more <span style="font-weight: bold;">affordable</span> for customers than large one-off payments. As a result of this, despite large overall consumer cutbacks, the <span style="font-weight: bold;">subscription economy</span> isn’t feeling the burn as much as traditional retail.</span></p> <p style="font-size: 14px; font-weight: bold;"><span style="color: #000000;"><em><strong>So, why should you consider introducing a subscription model?</strong></em></span></p> <span style="color: #000000;"></span> <img src="https://track.hubspot.com/__ptq.gif?a=7984975&amp;k=14&amp;r=https%3A%2F%2Fwww.billforward.io%2Fblog%2Fintroducing-a-subscription-model&amp;bu=https%253A%252F%252Fwww.billforward.io%252Fblog&amp;bvt=rss" alt="" width="1" height="1" style="min-height:1px!important;width:1px!important;border-width:0!important;margin-top:0!important;margin-bottom:0!important;margin-right:0!important;margin-left:0!important;padding-top:0!important;padding-bottom:0!important;padding-right:0!important;padding-left:0!important; "> Subscription Management Recurring billing Ecommerce Wed, 30 Nov 2022 17:15:00 GMT https://www.billforward.io/blog/introducing-a-subscription-model 2022-11-30T17:15:00Z BillForward Introducing Billforward's New Pricing https://www.billforward.io/blog/billforwards-new-pricing <div class="hs-featured-image-wrapper"> <a href="https://www.billforward.io/blog/billforwards-new-pricing" title="" class="hs-featured-image-link"> <img src="https://www.billforward.io/hubfs/linkedin-sales-solutions-QgYvORVDdd8-unsplash.jpg" alt="Introducing Billforward's New Pricing" class="hs-featured-image" style="width:auto !important; max-width:50%; float:left; margin:0 15px 15px 0;"> </a> </div> <p style="font-size: 14px;"><span style="color: #1d1c1d; background-color: #ffffff;">Ta da! <span style="font-weight: bold; color: #8624e1;">Billforward</span> have just introduced its most <span style="font-weight: bold;">affordable, flexible</span> and <span style="font-weight: bold;">accommodating</span> pricing yet. Our new pricing tiers have been carefully structured to help your business grow, no matter what stage of growth you're currently at.</span></p> <p style="font-size: 14px;"><span style="color: #000000;">We know that it can be a challenge to get your subscription business off the ground, which is why we are now offering a<span style="font-weight: bold;"> free service for low turnover companies</span>, with costs only beginning to increase when your business begins to require greater revenue processing and other additional services, such as integrations.</span></p> <p style="font-size: 14px;"><span style="color: #000000;">Already peaked your interest?&nbsp; You can head straight to our pricing page</span> <a href="https://www.billforward.io/pricing" style="font-weight: bold; text-decoration: underline;">here</a>.</p> <div class="hs-featured-image-wrapper"> <a href="https://www.billforward.io/blog/billforwards-new-pricing" title="" class="hs-featured-image-link"> <img src="https://www.billforward.io/hubfs/linkedin-sales-solutions-QgYvORVDdd8-unsplash.jpg" alt="Introducing Billforward's New Pricing" class="hs-featured-image" style="width:auto !important; max-width:50%; float:left; margin:0 15px 15px 0;"> </a> </div> <p style="font-size: 14px;"><span style="color: #1d1c1d; background-color: #ffffff;">Ta da! <span style="font-weight: bold; color: #8624e1;">Billforward</span> have just introduced its most <span style="font-weight: bold;">affordable, flexible</span> and <span style="font-weight: bold;">accommodating</span> pricing yet. Our new pricing tiers have been carefully structured to help your business grow, no matter what stage of growth you're currently at.</span></p> <p style="font-size: 14px;"><span style="color: #000000;">We know that it can be a challenge to get your subscription business off the ground, which is why we are now offering a<span style="font-weight: bold;"> free service for low turnover companies</span>, with costs only beginning to increase when your business begins to require greater revenue processing and other additional services, such as integrations.</span></p> <p style="font-size: 14px;"><span style="color: #000000;">Already peaked your interest?&nbsp; You can head straight to our pricing page</span> <a href="https://www.billforward.io/pricing" style="font-weight: bold; text-decoration: underline;">here</a>.</p> <img src="https://track.hubspot.com/__ptq.gif?a=7984975&amp;k=14&amp;r=https%3A%2F%2Fwww.billforward.io%2Fblog%2Fbillforwards-new-pricing&amp;bu=https%253A%252F%252Fwww.billforward.io%252Fblog&amp;bvt=rss" alt="" width="1" height="1" style="min-height:1px!important;width:1px!important;border-width:0!important;margin-top:0!important;margin-bottom:0!important;margin-right:0!important;margin-left:0!important;padding-top:0!important;padding-bottom:0!important;padding-right:0!important;padding-left:0!important; "> Subscription Management Recurring billing Ecommerce Mon, 31 Oct 2022 19:45:00 GMT https://www.billforward.io/blog/billforwards-new-pricing 2022-10-31T19:45:00Z BillForward 3 Ways to Supercharge your Subscription Pricing Strategy https://www.billforward.io/blog/supercharge-your-pricing <div class="hs-featured-image-wrapper"> <a href="https://www.billforward.io/blog/supercharge-your-pricing" title="" class="hs-featured-image-link"> <img src="https://www.billforward.io/hubfs/headway-jfR5wu2hMI0-unsplash.jpg" alt="3 Ways to Supercharge your Subscription Pricing Strategy" class="hs-featured-image" style="width:auto !important; max-width:50%; float:left; margin:0 15px 15px 0;"> </a> </div> <p><span style="color: #000000;">Creating an effective, straightforward and successful <span style="font-weight: normal;">pricing strategy</span> is key for your subscription business. At <span style="font-weight: bold; color: #8624e1;">Billforward </span>we know that every subscription offering is different and a one-size-fits-all approach to pricing won’t cut it, which is why we cater to a<a href="https://www.billforward.io/blog/subscription-pricing-strategies" style="text-decoration: underline;"> number of strategies</a> including <span style="font-weight: bold;">tiered, volume and </span><span style="font-weight: bold;">usage-based pricing.&nbsp;</span><span style="font-weight: normal;">No matter what pricing strategy your subscription business decides to implement, there are a number of truths that hold true: every customer wants to <span style="font-weight: bold;">feel valued, get a good deal, and understand exactly what they're paying for.</span></span></span></p> <div class="hs-featured-image-wrapper"> <a href="https://www.billforward.io/blog/supercharge-your-pricing" title="" class="hs-featured-image-link"> <img src="https://www.billforward.io/hubfs/headway-jfR5wu2hMI0-unsplash.jpg" alt="3 Ways to Supercharge your Subscription Pricing Strategy" class="hs-featured-image" style="width:auto !important; max-width:50%; float:left; margin:0 15px 15px 0;"> </a> </div> <p><span style="color: #000000;">Creating an effective, straightforward and successful <span style="font-weight: normal;">pricing strategy</span> is key for your subscription business. At <span style="font-weight: bold; color: #8624e1;">Billforward </span>we know that every subscription offering is different and a one-size-fits-all approach to pricing won’t cut it, which is why we cater to a<a href="https://www.billforward.io/blog/subscription-pricing-strategies" style="text-decoration: underline;"> number of strategies</a> including <span style="font-weight: bold;">tiered, volume and </span><span style="font-weight: bold;">usage-based pricing.&nbsp;</span><span style="font-weight: normal;">No matter what pricing strategy your subscription business decides to implement, there are a number of truths that hold true: every customer wants to <span style="font-weight: bold;">feel valued, get a good deal, and understand exactly what they're paying for.</span></span></span></p> <img src="https://track.hubspot.com/__ptq.gif?a=7984975&amp;k=14&amp;r=https%3A%2F%2Fwww.billforward.io%2Fblog%2Fsupercharge-your-pricing&amp;bu=https%253A%252F%252Fwww.billforward.io%252Fblog&amp;bvt=rss" alt="" width="1" height="1" style="min-height:1px!important;width:1px!important;border-width:0!important;margin-top:0!important;margin-bottom:0!important;margin-right:0!important;margin-left:0!important;padding-top:0!important;padding-bottom:0!important;padding-right:0!important;padding-left:0!important; "> Subscription Management Recurring billing Bundle Pricing Usage-based Billing Wed, 31 Aug 2022 12:15:00 GMT https://www.billforward.io/blog/supercharge-your-pricing 2022-08-31T12:15:00Z BillForward 3 Ways to integrate Billforward and HubSpot to Scale Your SaaS Revenue https://www.billforward.io/blog/billforward-hubspot-integration <div class="hs-featured-image-wrapper"> <a href="https://www.billforward.io/blog/billforward-hubspot-integration" title="" class="hs-featured-image-link"> <img src="https://www.billforward.io/hubfs/0002.png" alt="3 Ways to integrate Billforward and HubSpot to Scale Your SaaS Revenue" class="hs-featured-image" style="width:auto !important; max-width:50%; float:left; margin:0 15px 15px 0;"> </a> </div> <p><span style="color: #000000;">SaaS is here to stay, and SaaS companies usually rely on a subscription-based model. </span><span style="color: #000000;"><strong>So </strong><strong>it’s absolutely critical to the success of any SaaS company that it sets up a payments system that works without a hitch</strong>.&nbsp;</span></p> <div class="hs-featured-image-wrapper"> <a href="https://www.billforward.io/blog/billforward-hubspot-integration" title="" class="hs-featured-image-link"> <img src="https://www.billforward.io/hubfs/0002.png" alt="3 Ways to integrate Billforward and HubSpot to Scale Your SaaS Revenue" class="hs-featured-image" style="width:auto !important; max-width:50%; float:left; margin:0 15px 15px 0;"> </a> </div> <p><span style="color: #000000;">SaaS is here to stay, and SaaS companies usually rely on a subscription-based model. </span><span style="color: #000000;"><strong>So </strong><strong>it’s absolutely critical to the success of any SaaS company that it sets up a payments system that works without a hitch</strong>.&nbsp;</span></p> <img src="https://track.hubspot.com/__ptq.gif?a=7984975&amp;k=14&amp;r=https%3A%2F%2Fwww.billforward.io%2Fblog%2Fbillforward-hubspot-integration&amp;bu=https%253A%252F%252Fwww.billforward.io%252Fblog&amp;bvt=rss" alt="" width="1" height="1" style="min-height:1px!important;width:1px!important;border-width:0!important;margin-top:0!important;margin-bottom:0!important;margin-right:0!important;margin-left:0!important;padding-top:0!important;padding-bottom:0!important;padding-right:0!important;padding-left:0!important; "> Subscription Management SaaS strategy Billing platform Recurring billing Sat, 30 Jul 2022 14:30:00 GMT https://www.billforward.io/blog/billforward-hubspot-integration 2022-07-30T14:30:00Z HubSpot How to Overcome Failed Payments with Dunning https://www.billforward.io/blog/dunning-for-failed-payments <div class="hs-featured-image-wrapper"> <a href="https://www.billforward.io/blog/dunning-for-failed-payments" title="" class="hs-featured-image-link"> <img src="https://www.billforward.io/hubfs/cardmapr-nl-5x7Zl8QXFvg-unsplash.jpg" alt="How to Overcome Failed Payments with Dunning" class="hs-featured-image" style="width:auto !important; max-width:50%; float:left; margin:0 15px 15px 0;"> </a> </div> <p><span style="color: #000000;"><span style="font-weight: bold;">Payment failures</span> are commonly experienced by subscription businesses - largely due to the <span style="font-weight: bold;">recurring payment nature</span> of the subscription offering. Although failed payments don't occur enough to threaten the success of a subscription company, they have a direct negative impact on <span style="font-weight: bold;">customer churn</span>, with subscription businesses having <a href="https://www.pymnts.com/subscriptions/2021/almost-half-of-subscription-churn-caused-by-preventable-friction-in-failed-payments/" style="text-decoration: underline;">“almost half of their churn caused by failed payments”</a></span><span style="color: #000000;">. With the <span style="font-weight: bold;">increased churn</span> of customers, <span style="font-weight: bold;">payment failure management</span> is a vital factor that needs to be considered by subscription businesses.&nbsp;</span></p> <p><span style="color: #000000;"><em>So, what is dunning and how can it help my subscription business to overcome failed payments?</em></span></p> <span style="color: #000000;"></span> <div class="hs-featured-image-wrapper"> <a href="https://www.billforward.io/blog/dunning-for-failed-payments" title="" class="hs-featured-image-link"> <img src="https://www.billforward.io/hubfs/cardmapr-nl-5x7Zl8QXFvg-unsplash.jpg" alt="How to Overcome Failed Payments with Dunning" class="hs-featured-image" style="width:auto !important; max-width:50%; float:left; margin:0 15px 15px 0;"> </a> </div> <p><span style="color: #000000;"><span style="font-weight: bold;">Payment failures</span> are commonly experienced by subscription businesses - largely due to the <span style="font-weight: bold;">recurring payment nature</span> of the subscription offering. Although failed payments don't occur enough to threaten the success of a subscription company, they have a direct negative impact on <span style="font-weight: bold;">customer churn</span>, with subscription businesses having <a href="https://www.pymnts.com/subscriptions/2021/almost-half-of-subscription-churn-caused-by-preventable-friction-in-failed-payments/" style="text-decoration: underline;">“almost half of their churn caused by failed payments”</a></span><span style="color: #000000;">. With the <span style="font-weight: bold;">increased churn</span> of customers, <span style="font-weight: bold;">payment failure management</span> is a vital factor that needs to be considered by subscription businesses.&nbsp;</span></p> <p><span style="color: #000000;"><em>So, what is dunning and how can it help my subscription business to overcome failed payments?</em></span></p> <span style="color: #000000;"></span> <img src="https://track.hubspot.com/__ptq.gif?a=7984975&amp;k=14&amp;r=https%3A%2F%2Fwww.billforward.io%2Fblog%2Fdunning-for-failed-payments&amp;bu=https%253A%252F%252Fwww.billforward.io%252Fblog&amp;bvt=rss" alt="" width="1" height="1" style="min-height:1px!important;width:1px!important;border-width:0!important;margin-top:0!important;margin-bottom:0!important;margin-right:0!important;margin-left:0!important;padding-top:0!important;padding-bottom:0!important;padding-right:0!important;padding-left:0!important; "> Subscription Management Billing platform Recurring billing Ecommerce Fri, 17 Jun 2022 13:15:00 GMT https://www.billforward.io/blog/dunning-for-failed-payments 2022-06-17T13:15:00Z BillForward Subscription Pricing and Business Growth: The Importance of Data https://www.billforward.io/blog/pricing-and-growth-data <div class="hs-featured-image-wrapper"> <a href="https://www.billforward.io/blog/pricing-and-growth-data" title="" class="hs-featured-image-link"> <img src="https://www.billforward.io/hubfs/austin-distel-EMPZ7yRZoGw-unsplash.jpg" alt="Subscription Pricing and Business Growth: The Importance of Data" class="hs-featured-image" style="width:auto !important; max-width:50%; float:left; margin:0 15px 15px 0;"> </a> </div> <p><span style="color: #000000;">Implementing a <span style="font-weight: bold;">pricing strategy</span> is a difficult task for any business- not only is price often considered the <span style="font-weight: bold;">most important factor</span> when making a purchase, but with the rise in <span style="font-weight: bold;">ecommerce</span> it is now even easier for customers to <span style="font-weight: bold;">compare prices</span> and similar products, making it crucial for your business to <span style="font-weight: bold;">get pricing right</span>. In past blog posts we’ve discussed the importance of choosing a <a href="https://www.billforward.io/blog/subscription-pricing-strategies">subscription pricing strategy that fits your offerings</a>, and in this blog we’ll demonstrate the importance of using <span style="font-weight: bold;">data</span> for your<span style="font-weight: bold;"> subscription pricing strategy AND to supercharge your business growth</span>.&nbsp;</span></p> <div class="hs-featured-image-wrapper"> <a href="https://www.billforward.io/blog/pricing-and-growth-data" title="" class="hs-featured-image-link"> <img src="https://www.billforward.io/hubfs/austin-distel-EMPZ7yRZoGw-unsplash.jpg" alt="Subscription Pricing and Business Growth: The Importance of Data" class="hs-featured-image" style="width:auto !important; max-width:50%; float:left; margin:0 15px 15px 0;"> </a> </div> <p><span style="color: #000000;">Implementing a <span style="font-weight: bold;">pricing strategy</span> is a difficult task for any business- not only is price often considered the <span style="font-weight: bold;">most important factor</span> when making a purchase, but with the rise in <span style="font-weight: bold;">ecommerce</span> it is now even easier for customers to <span style="font-weight: bold;">compare prices</span> and similar products, making it crucial for your business to <span style="font-weight: bold;">get pricing right</span>. In past blog posts we’ve discussed the importance of choosing a <a href="https://www.billforward.io/blog/subscription-pricing-strategies">subscription pricing strategy that fits your offerings</a>, and in this blog we’ll demonstrate the importance of using <span style="font-weight: bold;">data</span> for your<span style="font-weight: bold;"> subscription pricing strategy AND to supercharge your business growth</span>.&nbsp;</span></p> <img src="https://track.hubspot.com/__ptq.gif?a=7984975&amp;k=14&amp;r=https%3A%2F%2Fwww.billforward.io%2Fblog%2Fpricing-and-growth-data&amp;bu=https%253A%252F%252Fwww.billforward.io%252Fblog&amp;bvt=rss" alt="" width="1" height="1" style="min-height:1px!important;width:1px!important;border-width:0!important;margin-top:0!important;margin-bottom:0!important;margin-right:0!important;margin-left:0!important;padding-top:0!important;padding-bottom:0!important;padding-right:0!important;padding-left:0!important; "> Recurring billing Bundle Pricing Ecommerce Usage-based Billing Mon, 30 May 2022 18:15:00 GMT https://www.billforward.io/blog/pricing-and-growth-data 2022-05-30T18:15:00Z BillForward How to Approach the Search for a Recurring Billing Partner https://www.billforward.io/blog/searching-for-a-billing-partner <div class="hs-featured-image-wrapper"> <a href="https://www.billforward.io/blog/searching-for-a-billing-partner" title="" class="hs-featured-image-link"> <img src="https://www.billforward.io/hubfs/bench-accounting-C3V88BOoRoM-unsplash.jpg" alt="How to Approach the Search for a Recurring Billing Partner" class="hs-featured-image" style="width:auto !important; max-width:50%; float:left; margin:0 15px 15px 0;"> </a> </div> <p><span style="color: #000000;">For any business, the search for a <span style="font-weight: bold;">recurring billing partner</span> can become pretty confusing- especially as you come across more and more options. Naturally, when a business decides that it requires <span style="font-weight: bold;">recurring billing</span> and <span style="font-weight: bold;">subscription management technology</span>, it is likely to consider a number of things:</span></p> <div class="hs-featured-image-wrapper"> <a href="https://www.billforward.io/blog/searching-for-a-billing-partner" title="" class="hs-featured-image-link"> <img src="https://www.billforward.io/hubfs/bench-accounting-C3V88BOoRoM-unsplash.jpg" alt="How to Approach the Search for a Recurring Billing Partner" class="hs-featured-image" style="width:auto !important; max-width:50%; float:left; margin:0 15px 15px 0;"> </a> </div> <p><span style="color: #000000;">For any business, the search for a <span style="font-weight: bold;">recurring billing partner</span> can become pretty confusing- especially as you come across more and more options. Naturally, when a business decides that it requires <span style="font-weight: bold;">recurring billing</span> and <span style="font-weight: bold;">subscription management technology</span>, it is likely to consider a number of things:</span></p> <img src="https://track.hubspot.com/__ptq.gif?a=7984975&amp;k=14&amp;r=https%3A%2F%2Fwww.billforward.io%2Fblog%2Fsearching-for-a-billing-partner&amp;bu=https%253A%252F%252Fwww.billforward.io%252Fblog&amp;bvt=rss" alt="" width="1" height="1" style="min-height:1px!important;width:1px!important;border-width:0!important;margin-top:0!important;margin-bottom:0!important;margin-right:0!important;margin-left:0!important;padding-top:0!important;padding-bottom:0!important;padding-right:0!important;padding-left:0!important; "> Subscription Management Billing platform Recurring billing Fri, 29 Apr 2022 12:15:00 GMT https://www.billforward.io/blog/searching-for-a-billing-partner 2022-04-29T12:15:00Z BillForward Giving Customers the Power Over their Subscriptions https://www.billforward.io/blog/flexible-and-customizable-subscription-offerings <div class="hs-featured-image-wrapper"> <a href="https://www.billforward.io/blog/flexible-and-customizable-subscription-offerings" title="" class="hs-featured-image-link"> <img src="https://www.billforward.io/hubfs/jud-mackrill-Of_m3hMsoAA-unsplash.jpg" alt="Giving Customers the Power Over their Subscriptions" class="hs-featured-image" style="width:auto !important; max-width:50%; float:left; margin:0 15px 15px 0;"> </a> </div> <p><span style="color: #000000;">Throughout the pandemic there was a huge rise in the success and popularity of subscription products, mainly due to their benefits of <span style="font-weight: bold;">convenience</span> and <span style="font-weight: bold;">online availability</span>. However, we know that <span style="font-weight: bold;">convenience</span> isn't all that customers look for, and a common reason why businesses may lose customers is as a result of the customers needs changing. By giving your customers the control over their own subscriptions so that they can <span style="font-weight: bold;">pause, restart, upgrade and downgrade</span> their subscriptions easily online your business can ensure that customers needs are met, even as they change over time. </span></p> <div class="hs-featured-image-wrapper"> <a href="https://www.billforward.io/blog/flexible-and-customizable-subscription-offerings" title="" class="hs-featured-image-link"> <img src="https://www.billforward.io/hubfs/jud-mackrill-Of_m3hMsoAA-unsplash.jpg" alt="Giving Customers the Power Over their Subscriptions" class="hs-featured-image" style="width:auto !important; max-width:50%; float:left; margin:0 15px 15px 0;"> </a> </div> <p><span style="color: #000000;">Throughout the pandemic there was a huge rise in the success and popularity of subscription products, mainly due to their benefits of <span style="font-weight: bold;">convenience</span> and <span style="font-weight: bold;">online availability</span>. However, we know that <span style="font-weight: bold;">convenience</span> isn't all that customers look for, and a common reason why businesses may lose customers is as a result of the customers needs changing. By giving your customers the control over their own subscriptions so that they can <span style="font-weight: bold;">pause, restart, upgrade and downgrade</span> their subscriptions easily online your business can ensure that customers needs are met, even as they change over time. </span></p> <img src="https://track.hubspot.com/__ptq.gif?a=7984975&amp;k=14&amp;r=https%3A%2F%2Fwww.billforward.io%2Fblog%2Fflexible-and-customizable-subscription-offerings&amp;bu=https%253A%252F%252Fwww.billforward.io%252Fblog&amp;bvt=rss" alt="" width="1" height="1" style="min-height:1px!important;width:1px!important;border-width:0!important;margin-top:0!important;margin-bottom:0!important;margin-right:0!important;margin-left:0!important;padding-top:0!important;padding-bottom:0!important;padding-right:0!important;padding-left:0!important; "> Subscription Management Billing platform FlexCheck Thu, 07 Apr 2022 17:00:00 GMT https://www.billforward.io/blog/flexible-and-customizable-subscription-offerings 2022-04-07T17:00:00Z BillForward What is Checkout Abandonment? https://www.billforward.io/blog/what-is-checkout-abandonment <div class="hs-featured-image-wrapper"> <a href="https://www.billforward.io/blog/what-is-checkout-abandonment" title="" class="hs-featured-image-link"> <img src="https://www.billforward.io/hubfs/craig-garner-YoadQb46v6k-unsplash.jpg" alt="What is Checkout Abandonment?" class="hs-featured-image" style="width:auto !important; max-width:50%; float:left; margin:0 15px 15px 0;"> </a> </div> <p><span style="color: #000000;">Although</span> <a href="https://www.salecycle.com/blog/featured/10-fascinating-stats-cart-abandonment/#:~:text=41%25%20of%20shoppers%20have%20abandoned,purchase%20in%20a%20physical%20store." style="text-decoration: underline;"><strong>41% of shoppers have abandoned a transaction during checkout in the past year</strong></a>, <span style="color: #000000;">the <span style="font-weight: bold;">checkout abandonment rate</span> metric is often overlooked by many businesses. Like <span style="font-weight: bold;">customer churn</span>, a certain level of <span style="font-weight: bold;">checkout abandonment</span> can be expected, but a high level of abandonment suggests that there are new factors introduced at the <span style="font-weight: bold;">checkout stage</span> that are deterring potential customers from completing their purchase.&nbsp;</span></p> <div class="hs-featured-image-wrapper"> <a href="https://www.billforward.io/blog/what-is-checkout-abandonment" title="" class="hs-featured-image-link"> <img src="https://www.billforward.io/hubfs/craig-garner-YoadQb46v6k-unsplash.jpg" alt="What is Checkout Abandonment?" class="hs-featured-image" style="width:auto !important; max-width:50%; float:left; margin:0 15px 15px 0;"> </a> </div> <p><span style="color: #000000;">Although</span> <a href="https://www.salecycle.com/blog/featured/10-fascinating-stats-cart-abandonment/#:~:text=41%25%20of%20shoppers%20have%20abandoned,purchase%20in%20a%20physical%20store." style="text-decoration: underline;"><strong>41% of shoppers have abandoned a transaction during checkout in the past year</strong></a>, <span style="color: #000000;">the <span style="font-weight: bold;">checkout abandonment rate</span> metric is often overlooked by many businesses. Like <span style="font-weight: bold;">customer churn</span>, a certain level of <span style="font-weight: bold;">checkout abandonment</span> can be expected, but a high level of abandonment suggests that there are new factors introduced at the <span style="font-weight: bold;">checkout stage</span> that are deterring potential customers from completing their purchase.&nbsp;</span></p> <img src="https://track.hubspot.com/__ptq.gif?a=7984975&amp;k=14&amp;r=https%3A%2F%2Fwww.billforward.io%2Fblog%2Fwhat-is-checkout-abandonment&amp;bu=https%253A%252F%252Fwww.billforward.io%252Fblog&amp;bvt=rss" alt="" width="1" height="1" style="min-height:1px!important;width:1px!important;border-width:0!important;margin-top:0!important;margin-bottom:0!important;margin-right:0!important;margin-left:0!important;padding-top:0!important;padding-bottom:0!important;padding-right:0!important;padding-left:0!important; "> Subscription Management Billing platform FlexCheck Ecommerce Thu, 10 Mar 2022 13:15:00 GMT https://www.billforward.io/blog/what-is-checkout-abandonment 2022-03-10T13:15:00Z BillForward How to Improve your Invoicing https://www.billforward.io/blog/how-to-improve-your-invoicing <div class="hs-featured-image-wrapper"> <a href="https://www.billforward.io/blog/how-to-improve-your-invoicing" title="" class="hs-featured-image-link"> <img src="https://www.billforward.io/hubfs/pickawood-gf8e6XvG_3E-unsplash%20%282%29-1.jpg" alt="How to Improve your Invoicing" class="hs-featured-image" style="width:auto !important; max-width:50%; float:left; margin:0 15px 15px 0;"> </a> </div> <p><span style="color: #000000;">The majority of small businesses start out with a </span><strong><span style="color: #000000;">manual invoicing system</span></strong><span style="color: #000000;">, but as your </span><strong><span style="color: #000000;">subscription business</span></strong><span style="color: #000000;"> begins to grow, manual invoicing is likely to come under heavy pressure and slowly increase in inefficiency. </span><strong><span style="color: #000000;">Manual invoice processes</span></strong><span style="color: #000000;"> can lead to a number of avoidable issues, such as </span><a href="https://www.frevvo.com/blog/automated-invoice-processing/"><strong><span><span style="text-decoration: underline;">missing invoices, delayed payments, and even instances of fraud</span>.</span></strong></a></p> <p><br><span style="color: #000000;">Amalto, a France-based software company, has found that manual invoicing in the US has a number of worrying statistics. According to their recent study, </span><a href="https://sharespace.digital/blog/scary-invoicing-stats-you-shouldnt-ignore" style="text-decoration: underline;"><strong>39% of all manual invoices sent in the US are paid late, and 61% of these late payments occur as a result of incorrect invoices</strong></a><strong><span style="color: #000000;">.</span></strong></p> <p style="font-size: 18px;"><span style="color: #000000;"><strong><span style="text-decoration: underline;">Why your Invoicing Process Should be Automated:</span></strong></span></p> <p><span style="color: #000000;">Staying <strong>flexible </strong>with your <strong>subscription offerings</strong>, including offering <strong>upgrades </strong>and <strong>downgrades</strong>, is vital for your subscription business to appeal to a large customer base. Many customers often become <strong>loyal </strong>to your subscription business due to its flexibility, as it reduces the need for customers to<strong> cancel subscriptions</strong> when their needs aren’t fully met; with <strong>upgrades </strong>and <strong>downgrades </strong>available to consider, customers can find an offering that suits them and their changing needs.</span></p> <p><span style="color: #000000;">The <strong>flexibility </strong>of subscription offerings that your business wants to offer is likely to become over-complex for a <strong>simple manual invoice set-up</strong>, meaning that you are likely to face an increase in <strong>invoice errors</strong>, or have to consider scaling back the flexibility of your subscription offerings in order to maintain the <strong>efficiency </strong>of your invoice system. No business wants to compromise on its offerings, which is why <strong>automated invoicing </strong>is the key to <strong>maintaining your subscription flexibility</strong>- whilst also remaining <strong>efficient </strong>in your <strong>invoice system</strong>. With an automated system in place, your invoicing is able to be as flexible as you need to offer the range of subscriptions that you want to offer to your customers.</span></p> <p><span style="color: #000000;">An<strong> automated invoice system</strong> is not only beneficial for your business as a result of increased <strong>customer satisfaction</strong>- the direct benefits of an automated invoice system include notifications of invoice activity, including <strong>failed or late payments</strong>. With an automated invoice system in operation, you can keep track of the stage of your invoices without the headaches.</span></p> <div class="hs-featured-image-wrapper"> <a href="https://www.billforward.io/blog/how-to-improve-your-invoicing" title="" class="hs-featured-image-link"> <img src="https://www.billforward.io/hubfs/pickawood-gf8e6XvG_3E-unsplash%20%282%29-1.jpg" alt="How to Improve your Invoicing" class="hs-featured-image" style="width:auto !important; max-width:50%; float:left; margin:0 15px 15px 0;"> </a> </div> <p><span style="color: #000000;">The majority of small businesses start out with a </span><strong><span style="color: #000000;">manual invoicing system</span></strong><span style="color: #000000;">, but as your </span><strong><span style="color: #000000;">subscription business</span></strong><span style="color: #000000;"> begins to grow, manual invoicing is likely to come under heavy pressure and slowly increase in inefficiency. </span><strong><span style="color: #000000;">Manual invoice processes</span></strong><span style="color: #000000;"> can lead to a number of avoidable issues, such as </span><a href="https://www.frevvo.com/blog/automated-invoice-processing/"><strong><span><span style="text-decoration: underline;">missing invoices, delayed payments, and even instances of fraud</span>.</span></strong></a></p> <p><br><span style="color: #000000;">Amalto, a France-based software company, has found that manual invoicing in the US has a number of worrying statistics. According to their recent study, </span><a href="https://sharespace.digital/blog/scary-invoicing-stats-you-shouldnt-ignore" style="text-decoration: underline;"><strong>39% of all manual invoices sent in the US are paid late, and 61% of these late payments occur as a result of incorrect invoices</strong></a><strong><span style="color: #000000;">.</span></strong></p> <p style="font-size: 18px;"><span style="color: #000000;"><strong><span style="text-decoration: underline;">Why your Invoicing Process Should be Automated:</span></strong></span></p> <p><span style="color: #000000;">Staying <strong>flexible </strong>with your <strong>subscription offerings</strong>, including offering <strong>upgrades </strong>and <strong>downgrades</strong>, is vital for your subscription business to appeal to a large customer base. Many customers often become <strong>loyal </strong>to your subscription business due to its flexibility, as it reduces the need for customers to<strong> cancel subscriptions</strong> when their needs aren’t fully met; with <strong>upgrades </strong>and <strong>downgrades </strong>available to consider, customers can find an offering that suits them and their changing needs.</span></p> <p><span style="color: #000000;">The <strong>flexibility </strong>of subscription offerings that your business wants to offer is likely to become over-complex for a <strong>simple manual invoice set-up</strong>, meaning that you are likely to face an increase in <strong>invoice errors</strong>, or have to consider scaling back the flexibility of your subscription offerings in order to maintain the <strong>efficiency </strong>of your invoice system. No business wants to compromise on its offerings, which is why <strong>automated invoicing </strong>is the key to <strong>maintaining your subscription flexibility</strong>- whilst also remaining <strong>efficient </strong>in your <strong>invoice system</strong>. With an automated system in place, your invoicing is able to be as flexible as you need to offer the range of subscriptions that you want to offer to your customers.</span></p> <p><span style="color: #000000;">An<strong> automated invoice system</strong> is not only beneficial for your business as a result of increased <strong>customer satisfaction</strong>- the direct benefits of an automated invoice system include notifications of invoice activity, including <strong>failed or late payments</strong>. With an automated invoice system in operation, you can keep track of the stage of your invoices without the headaches.</span></p> <img src="https://track.hubspot.com/__ptq.gif?a=7984975&amp;k=14&amp;r=https%3A%2F%2Fwww.billforward.io%2Fblog%2Fhow-to-improve-your-invoicing&amp;bu=https%253A%252F%252Fwww.billforward.io%252Fblog&amp;bvt=rss" alt="" width="1" height="1" style="min-height:1px!important;width:1px!important;border-width:0!important;margin-top:0!important;margin-bottom:0!important;margin-right:0!important;margin-left:0!important;padding-top:0!important;padding-bottom:0!important;padding-right:0!important;padding-left:0!important; "> Subscription Management Billing platform Payment Processing Taxation Sat, 19 Feb 2022 16:30:00 GMT https://www.billforward.io/blog/how-to-improve-your-invoicing 2022-02-19T16:30:00Z BillForward