In the best of circumstances, financial reporting can be a complicated and sometimes difficult task. Accuracy is critical but not always easy to achieve. Subscription-based businesses face added challenges in accurately recognizing revenue. The business may have different billing models with different terms, have numerous customer upgrades and downgrades that need to be accurately calculated, along with many other customer events each month which affect billing. And many high-velocity B2C companies will process a huge volume of transactions throughout the month. All this makes for a complicated daily revenue-recognition process.Continue Reading
The Internet and the digital world have brought immeasurable benefits to the world at large and transformed nearly every aspect of how we live and work. Unfortunately, in tandem with this evolution unscrupulous elements have emerged, intent on hacking into systems and stealing data for any number of nefarious ends. No entity is completely safe from the risk of hackers, viruses, malware and other weapons that attempt to compromise our systems.Continue Reading
Here’s a really useful blog post from our friends at Price Intelligently, titled “How to Turn a SaaS Company Around in 90 Days.” While it’s written with a SaaS audience in mind, the concepts are solidly applicable to nearly any subscription business.Continue Reading
Application program interfaces—more commonly known as APIs—are increasingly important for building efficient business processes. This is because they allow developers to tailor systems to optimize business processes. They’re also a quantum leap from yesterday's enterprise software tools, which were built and delivered as-is and required endless customization to actually use effectively.Continue Reading
We didn’t need Google’s upcoming launch of their new over-the-the (OTT) streaming service to tell us that OTT is big. Very big. But should anyone doubt that the future of video entertainment is streaming, not cable, Google’s jumping in, with their Unplugged service, should put these doubts to rest.Continue Reading
For consumers and retailers, the end of the year means holiday shopping, parties, eating too much, and sleeping too little. For another segment of the population, the end of the year heralds another less festive activity: closing the books.
An organization’s year-end closing procedures, the accuracy of the results and the insights they provide are vital to its long-term success and stability. Following are some best practice guidelines* to keep in mind when preparing to close the books, to help ensure a successful result.
Thanksgiving marks the beginning of the holiday season—a time of both abundance and reflection. We take the time to express gratitude for what we have and to create lists for what we want. Consumer-focused subscription businesses see the holidays as a time to gain new customers and increase revenue, hoping that their box-of-the-month, entertainment, or other subscription service will be worthy of making it under the tree or in the stocking.
In the spirit of Thanksgiving, here’s our “recipe” for abundant subscription success:Continue Reading
In the world of subscription commerce, one key to success is providing a frictionless signup experience. Once prospects decide they’re ready to subscribe, you want to make sure that the process is as easy as it can be for them. Removing steps that aren’t necessary and ensuring that your signup form meets the highest standards of usability and security can make the difference between a prospect who converts and one who abandons before the transaction is complete.Continue Reading
For any business, setting a price for what they sell is a key piece of the revenue and profit puzzle. Subscription businesses have the added task of determining not just price points but the billing model they will use. For example, many subscription businesses have a fixed recurring model (same price every time). SaaS companies have a slightly more complex model which requires that they charge for each user accessing the service, often at a prorated rate. And some businesses—usually high-volume transactional services—will find that a usage-based model is the most appropriate and beneficial.Continue Reading
We recently came across a great blog from Profitwell which discusses how to turn a cancellation into an opportunity for you to take action and understand better why some customers choose to leave. While it’s written with software as a service (SaaS) in mind, the concepts are applicable to nearly any online business—especially a subscription business, where customer lifetime value (LTV) is paramount. The key is to communicate value to your customers and place their experiences at the center of everything you do.Continue Reading