A simple and flexible subscription billing structure is a cornerstone for all recurring revenue-based companies. It lets you stay agile and responsive as your market changes and you look towards long-term growth. Zuora polled dozens of recurring revenue-based companies about their top subscription billing mistakes and although some of them were pretty obvious (credit cards can be problematic), others are less so (consider billing in advance versus in arrears). Implementing a new business model is never easy and mistakes are bound to occur.
The good news is that this hard-won knowledge comes straight from some of the most successful subscription-based businesses in the world. Subscription businesses are built around relationships with your customers and your billing system should be able to scale with them.
Have a look at our Academy Guide on the 7 Subscription Billing Mistakes to Avoid to understand:
- The difference in billing in arrears versus in advance
- How a flexible billing system lets you respond to market changes
- The risks of hard-coding your own billing system
- The importance of finance recognition to your new business model