The SaaS market is the real deal today. A report of Fortune Business Insights suggests that the SaaS market is expected to grow at a CAGR of 27.5% by 2028. In fact, SaaS is one of the most popular subscription type management software. But, with great popularity comes great responsibilities.
Subscription management is a tedious process. From gathering customer information to collecting payments and generating invoices, there’s plenty to do! And, it’s cumbersome to update the spreadsheet with thousands of customer details. But, with SaaS Subscription Management Software, you can automate all your subscription processes.
Convincing your sales team to adopt a subscription model to get robust subscription management software would be best. First, however, you must ensure and provide them with the best choices.
But, there are a myriad of SaaS management platform options in the market and it’s difficult to choose any one.
We are here just for that! Apart from understanding SaaS Subscription Management Software, we will also give out the best options for subscription management software. Let’s get started.
What is Saas Subscription Management Software?
A Saas subscription management software helps businesses manage customer payments, subscriptions, and renewals. In addition, the Saas subscription software also tracks activities of the sales of subscription-based products.
The subscription model allows companies to sell their services. The set amount that customers need to pay for the services is divided into weekly, monthly, and yearly payments.
With subscription management, companies can boost sales and ensure a smooth billing process for products and services. And SaaS subscription also makes recurring payment possible for the customers using various payment methods.
The software subscription keeps track of billing, allowing you to bring constant revenue.
As many benefits it reaps, there are many risks with wrong selection of software as well. So, companies need to be careful while selecting a SaaS subscription business model.
On that note, let’s talk about startups that can utilize SaaS Subscription Management Software.
What Type of Businesses Would Benefit From SaaS Subscription Management Software?
The SaaS Subscription Management Software is best suited for subscription-based businesses. It includes your PaaS, SaaS, IaaS software, and e-commerce-related business subscriptions.
Some of the most critical departments of a subscription-based business include sales, marketing, and accounting.
The best time to automate saas management software for startups is when you launch it.
The reason is simple. When you start, you can address the issue of recurring billing at the beginning- a key component of various SaaS business models.
The monthly recurring revenue is the factor that drives most startups.
We have been talking about SaaS Subscription Management Software and the startups that can get help from the software. But, there are several reasons why subscription management apps are gaining popularity.
Why is SaaS Subscription Management Software Important?
Standalone solutions offer personalized add-ons for startups that make adding subscription services to their existing service offerings or products easier. On the other hand, software suites combine multiple products like subscription revenue management and subscription billing software to manage subscriptions.
Payment gateway systems, e-commerce sites, catalog management systems, and other e-commerce applications combine with saas subscription management software.
To consider a product for the subscription management category, the following criteria are necessary:
- Keeps track of consumer information and payment records.
- Automates billings and contracts.
- Allows automated payments through different payment methods.
- Integrates and supports available payment gateways.
If you are confused about selecting SaaS Subscription Management Software, we’ll make it easier. We have churned out a list of the best options for your business.
Top 10 SaaS Subscription Management Software in 2022
1.ChargeBee
Chargebee is the best option for billing and invoicing. It is a detailed subscription revenue and billing management tool that gives you complete control over your company.
Chargebee is easy to use. It helps you handle complex scenarios without complications. This SaaS subscription tool manages every part of your client subscription and enables you to identify the key performance indicators driving revenue.
Special Features
- Customized Product Selection
- Easy Upgrades and Downgrades
- Automated Billing and Invoicing
Pros
- Top-notch UI
- Great API documentation
- Flexible invoice designing
Cons
- Average customer support
Pricing
Among SaaS billing solutions, Chargebee is one of the best options. These are the different pricing standards:
Launch: $0/ month billed annually for the first $100k in revenue.
Rise: $249.00 per month, including USD 600K/yr revenue
Scale: $549 per month, including USD 1.2M/yr revenue
2.ControlHippo
ControlHippo is the best option to easily manage alerts on security and data protection agreement concerns on any SaaS app.
With ControlHippo, companies can reduce operational costs by reducing redundancy, waste, and additional costs associated with SaaS.
ControlHippo is easy to use. It offers the flexibility of seamless monitoring, managing subscriptions, and reducing SaaS wastage. It also detects unused and underutilized apps.
Special Features
- Efficient tool integration
- Automate license renewal based on insights
- Duplicate and unused app detection
- Highly effective cost management
- Seamless implementation
Pros
- Supports businesses of all sizes
- Top-notch support and services
- Interface personalization
- Automate IT tasks
- Reduce SaaS wastage
Cons
- Only supports web app operating system
Pricing
- ControlHippo offers a free trial for its users. You can contact ControlHippo for other pricing details.
3.Chargify
Chargify is the best option for recurring billing. It is one of the best subscription billing platforms.
Chargify specializes in event-based charging. With Chargify’s MMR analytics, you can see net MMR growth and the composition of MMR movements.
This SaaS Subscription Management Software makes it easier to manage recurring revenue streams and provides automated credit card payment processing and invoicing. Chargify is easy to use.
Special Features
- Offer management
- Billing cycles
- Revenue retention
- Recurring revenue reports
Pros
- Excellent reports
- Great customer service
- Easy usage
Cons
- Limited integration
Pricing
- Essential: $599.00/month
- Standard: $1499.00/month
- Specialized: $3499.00/month
3.Recurly
Recurly is the best choice for income forecasting. Recurly enables users to better identify and understand their startup through visualization and data analytics. This subscription management software features are suitable for all business types.
It manages subscriptions, optimizes payment acceptance, and automates recurring billing operations. Recurly provides integration to fraud detection and tax apps to
maximize revenue. Recurly is easy to use.
Special Features
- Reporting and Analytics
- Self-service portal
- Cancellation management
- Automated invoicing
Pros
- Detailed reporting
- Automated invoicing
- Easy cancellation and refund management.
Cons
- Not the best option for small businesses.
Pricing
- Core: $199/month billed annually
- Professional and Elite: Rates based on enterprise size
5.ZohoSubscriptions
Zoho Subscriptions are one comprehensive SaaS Subscription Management software. With Zoho subscriptions, you can monitor subscription billing and invoices throughout the user journey.
Zoho Subscriptions is ideal for membership businesses and SaaS billing. It enables businesses to take full control of events in the customer’s life cycle, right from signup to recurring payments.
Zoho subscriptions are easy to use and offer multi currency support.
Special Features
- Flexible billing cycles
- Customize reports
- Usage tracking
Pros
- Simple reports
- Easy interface to use and set up
- Automate recurring billing
Cons
- Integration issues
Pricing
Monthly Plan: $49
Yearly Plan: $490
6.SaaSOptics
SaaSOptics is a smart choice for B2B enterprises. With SaaSoptics, startups can streamline financial activities that boost sales.
With SaaSOptics, businesses can quickly pull accurate SaaS metrics and analytics. The application also helps scale billing and payments seamlessly. It allows businesses to automate GAAP-compliant revenue recognition.
This SaaS Subscription Management Software is easy to use and offers a streamlined implementation process.
Special Features
- Automated renewal process
- Order syncing
- Automated A/R management
- Metrics and analytics
Pros
- Customer service
- Invoice automation
- Data integration
Cons
- Steep learning curve
Pricing
This SaaS billing software’s pricing starts at $600 per month. You can contact SaaSOptics for their other pricing details.
3.Stripe
Stripe is one of the finest subscription management platforms. With Stripe’s huge range of integrations, collecting credit cards and other forms of payment have become easy.
It automates metered charging, per seat pricing and multiple other payment models. Stripe reduces churn and also improves retention.
It is fast, easy to implement, and has a good credit card processor for online-only startups.
Special Features
- Hosted payment page
- Revenue optimization
- Revenue recognition
- ACH payment processing
- Unified payments
Pros
- Customizable
- Supports numerous currencies
- Transparent pricing
Cons
- Needs software development knowledge for open API
Pricing
- Integrated: 2.9% + $0.30/successful card charge
8.Zuora
Zuora is the best SaaS Subscription Management Software option for easy dunning management. It is very easy to use, and you can easily navigate its products. Zuora is a suite of products for subscription based businesses.
With Zuora, you can sync your subscription order to cash processes in real-time. You can also manage your customer’s payment, billing calculations, and subscription lifespan.
Special Features
- Tax management
- Dunning management
- Subscription billing
Pros
- Various currency billings
- Amendments and subscriptions
- Interactive and engaging training guides.
Cons
- Restricted churn management.
Pricing
- Zuora’s pricing is not publicly available. But, you can get a custom quote from them.
9.Profitwell
Profitwell is the best saas subscription management for metrics and monitoring. In addition, it offers outcome-driven products to simplify subscription management and billing.
Profitwell automates everything from simple subscriptions to event-based billing models. Companies and subscription products can achieve faster recurring revenue growth using Profitwell.
With Profitwell, you can track your pricing plan’s progress, access and pinpoint income loss too.
Special Features
- Revenue tracking
- Engagement & retention tracking
- Intelligent pricing
Pros
- Numerous integrations
- Free metrics and reporting
- Easy to use
Cons
- Scaling costs
Pricing
- Retain — Varies per month
- Recognized — $1000.00 per month
- Price Intelligently — $15,000.00 per month
10.SageIntacct
SageIntacct is the best option for small to midsize businesses. SageIntacct uses extensive automation that saves costs and minimizes labor.
This software also includes cash management, purchasing, accounting, fund accounting, subscription billing, contract management, revenue recognition, project accounting and inventory management.
With SageIntacct SaaS Subscription Management Software, you can get real-time financial information at every stage of your business.
SageIntacct is easy to use.
Special Features
- Dynamic allocations
- Vendor management
- General ledger
- Accounts receivable
Pros
- High security
- Real-time insights and updates
- Seamless integrations with various software
Cons
- Price point
Pricing
The subscription pricing can run from $15,000 a year for single users to $60,000 for organizations that need to manage multiple projects simultaneously.
Wrapping Up
If you are an organization handling customer subscriptions, it is crucial to have SaaS Subscription Management Software do the job for you. You can keep track of your customer subscriptions and keep your payments and data secure.
The churned-out list above will help you select the right software for your business needs. All the best! We are rooting for you.
