What makes good subscription management software different from bad ones? Is it their ease of use? Is it the increased variety of features that they offer to their users? Is it their cost-effectiveness? Or is it a mix of all these things with a few other key factors thrown in as well?
As it happens, there are more than one factors that determine whether subscription management software is robust or not. From here on we will be discussing all these factors and how, more importantly, they intersect with one another to transform an otherwise ordinary subscription management software into an amazing one.
All-in-one platform
The first key component that best subscription management software will always provide their users with is a plethora of features to the point where users will never feel the need to incorporate any additional program or service to help manage their subscriptions. Think of good subscription management software as a high-end party planner that will not only book the venue of your child’s birthday party but will also get the cake, decorate the venue, and order custom-made goodie bags for all the kids, so that the only job that you have to do is to sit back in your chair and relax as your hired help does all the work. Likewise, good subscription management software will also offer you a wide variety of features that will cater to your every need ranging from automated billing, and setting up of customer self-service portal, to reporting and analytics.
Customizability
However, not every business needs every feature that is available. To make sure that clients are paying for exactly what they need and nothing more, robust subscription management software will have the option of either tiered subscriptions in which certain advanced features are reserved behind a further paywall or will have detachable features that will be available to purchase separately. Doing this ensures that clients’ diversity of demands are met without them having to break the bank.
Cost-effective
This brings us to the third and arguably most important feature of highly effective subscription management software which is their cost-efficiency. Software catering to small businesses needs to make sure that they do not charge too high a fee since most small businesses are simply not able to afford the high costs of subscription management. If software are providing small businesses with the incentive of automating their subscription management, then they need to make sure that at the end of the day, these small businesses are not financially crippled with the high cost of subscription management.
Customizability
Automation means machines replacing humans in doing a particular task, and while good subscription management software automate the process of subscription management, they still require humans to oversee the entire operation and be able to understand the data that the software is using in order to discern what it means for the welfare of the business.
Ease of integration with 3rd-party apps
Just like no human is an island, similarly no subscription management software is able to do its job without effectively integrating with other software or payment gateways that all combine to provide a seamless experience to the client. A good subscription management software would have done its homework – would have already anticipated the extra services that their client would require and consequently reached out to relevant third-party applications for integration – before starting the process of subscription management. Doing this ensures that all the client’s needs are met and that they do not themselves have to reach out to any other third-party application for additional support.
As it happens, numerous subscription management software (such as SubscriptionFlow) fit the bill of this five-point criteria. Software like SubscriptioFlow excels at specifically aiding small businesses in their subscription management needs because they have been designed by keeping these needs in mind.