Subscription Experiences are right on schedule, with Chargebee
Companies which form in order to fill a niche in a market have a distinct advantage over some of their competition. One such company is Chargebee, which is dominating recurring payment model charging.
The reason for its advantage is that the company’s solutions are fresh, and were built as the new pay-as-you-use reality formed. Chargebee, therefore, isn’t a company that was already providing some form of financial service that just shifted its offering to “cope” with recurring payments.
Instead, it is offering a new line in subscription experiences both for its customers and also for the end-user. End-users can range from the consumer buying a US$5 per month product on subscription, or a large enterprise paying for its access to the latest disruptive cloud-based application.
Consumers and businesses alike are developing increasingly sophisticated demands for the way
goods and services are paid for. The regular charge (sometimes known as lease, hire, or pay-as-you-go models) makes perfect sense for all concerned parties.
For the purchaser, there’s no or little upfront cost to deploy a brand new data service or start getting a regular flow of purchased products – whether that’s delivered artisanal food ingredients or access to massive ERP systems.
For the provider, revenues are greatly more predictable, and the constant contact with the purchaser means there are plenty of opportunities to develop brand loyalty, with all the up- or cross-selling opportunities that relationship can bring.
Where Chargebee’s subscription experience management model comes into its own is the seamless way it manages even the highly complex, shifting demands manifested by consumers & organizations today.
When subscribers move payment plans or payment methods, the software works out part payments, pro-rata dues, and the like – all out of the box. And because the solution is highly secure and global, businesses can operate complex payment models right across the globe, safe in the knowledge that local governance and tax strictures are adhered to.
Chargebee’s customers aren’t tied to a particular payment gateway – the company has integrated its solution with many dozens, right across the globe.
The overall business plan for many companies is multi-channel sales, and the online experience is the cornerstone of their entire operation. It’s vital, therefore, to get it right. With Chargebee, retailers can turn website or social platform visitors into subscribers, and from mere subscribers to brand-loyal revenue-generators.
With a single solution that offers everything out of the box (no expensive add-ons required for premium features here!), retailers can offer free trials and freemium plans, create viral momentum through referral programs, use coupons and special offers, and minimize cart abandonment.
Chargebee’s powerful reporting facilities let its users identify where customers might be losing interest, and where there’s most potential to increase business. The subscription experiences that end-users and store owners get is now where simplicity is the key – despite highly complex underpinning algorithms.
This is the key to the Chargebee recurring payment platform. The apparent complexity of a customer moving from a trial or freemium model to a paid-for tier, with a special offer in the cart and three interchangeable payment methods? No problem – the subscription experience is seamless, both for the potential customer signing up and for the retailer.
Multiple currencies and tax laws are similarly managed; simply and through the same interface. And throughout the platform, customer data security is assured, with PCI-compliant checkout, and accurate audit trails provided, with GAAP-compliant Recurring Revenue Recognition.
Operating global has always been tricky, and the complexities have been compounded in the last dozen years or so as the things-as-a-service payment model has gained popularity.
To empower end-users, and cut recurring payment management headaches, organizations right across the globe are embracing the subscription experiences offered by Chargebee.
12 February 2020
4 February 2020