The Internet of Things is transforming how we live, work, and play. Beyond the familiar ‘smart’ devices in our homes, such as thermostats and fitness trackers, the Internet of Things (IoT) has applications in a wide-ranging realm. There are devices that can find our lost phones and luggage, monitor our heart rates and blood pressure, tell us when our cars need maintenance, help manage traffic when we drive, and help make our manufacturing sector and our cities more efficient. The web of connected devices that comprise the Internet of Things promises to bring convenience, efficiency, cost savings, peace of mind, improving our lives in any number of ways.Continue Reading
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In e-commerce, transactions can fail for any number of reasons, and every time a transaction is declined, the business loses revenue. With subscription businesses, the problem is compounded by the fact that subscription revenue is recurring revenue. This makes effective management of billing and payments especially critical: any time a transaction fails, a customer can churn.Continue Reading
The subscription model is one of the fastest-growing categories in e-commerce—which should come as no surprise given the many benefits that a recurring revenue business offers. While the model provides benefits, it also has inherent complexity.Continue Reading
What do Delaware, Oregon, and Florida have in common? According to an analysis by Experian, these are the states with the highest fraud related to billing and shipping from card-not-present (CNP) transactions. If you’re an ecommerce business trying to combat this kind of fraud, you should perhaps pay extra attention to orders with billing or shipping addresses in these states. And if you get orders from South El Monte, California, look out. Experian identified this city as having the highest incidence of both billing and shipping fraud—with 1 percent and .64 percent respectively of all orders from that municipality found to be fraudulent.Continue Reading
Credit cards are an extremely convenient way to pay for online purchases. However, subscription businesses can face challenges in successfully completing recurring payments via credit cards. This is because after the initial payment at signup, various factors can cause the recurring payments to fail. The most effective way to repair the transaction—and thereby “recover” this revenue which would have otherwise been lost—is to employ automated tools and processes.Continue Reading
“If you wish to converse with me, define your terms.” ~ Voltaire
Next week, we’ll be launching the first of several blog posts about data—specifically about how our customers can use their data in Recurly to improve and optimize their business. Our first post focuses on churn, which is always a key topic of interest for subscription-based businesses. But before we dive into the blog series, we thought it might be a good idea to quickly review the meaning of some different terms related to churn.Continue Reading
Recently, Recurly’s CEO Dan Burkhart spoke to Harry Stebbings, host of “The Official Saastr Podcast.” They discussed a variety of topics in this wide-ranging 25-minute interview, including Dan’s background at eBay and how he came to be a co-founder of Recurly, along with Isaac Hall. He talked about what their “Aha!” moment was in meeting the challenges posed by recurring billing, specifically how providing visibility into customer events is a key aspect of effective customer acquisition.Continue Reading
Returnloads.net is an online freight exchange in the UK. They connect haulage companies who have empty vehicles with businesses that need goods moved—helping to reduce costs along with the number of empty trucks traveling throughout the U.K.Continue Reading
As any subscription business knows, recurring billing is complex and presents many challenges that billing for a one-time purchase does not. Different billing models, mid-month upgrades and downgrades, add-on charges, etc. all add to the complexity.
From an accounting and finance standpoint, accurate reporting each month is complicated by these factors, each of which impacts billing and can complicate revenue recognition. And as a business scales, this complexity only increases. Another challenge for finance professionals is that most ERP and CRM systems are not designed to handle recurring revenue.Continue Reading
March Madness is upon us, along with the predictions. No, not which teams will be in the Final Four—but how many hours of lost productivity will businesses suffer due to distracted employees! Estimates are that anywhere from 24 to 82 million employees will use company time not just to watch games but also to research the brackets, make their bets, and track results. And this may result in employer losses totaling as much as $2 billion.Continue Reading