Subscription-based business models are becoming increasingly popular among service providers. In fact, a recent survey found that 44% of professional services firms are looking at subscription billing or experimenting with it. 13% already take a subscription-based approach model*. Exact Online is here to help.
Unlike other business software, Exact Online for Project & Subscription Management serves as an “all-in-one” business software in the cloud. It helps IT services firms to develop long-term customer relationships, increase revenue stream predictability and reduce revenue loss due to over-servicing – particularly essential for a subscription-based business.
Recurring revenue reporting helps you to forecast real growth and churn rates when offering multiple subscription plans. It also deals with frequent changes like upgrades and downgrades. One-time fees like set-up or installation charges are also easy to enter on top of subscription billings.
And perhaps the most important, you’ll gain the insight you need to prevent over-servicing your accounts. How do you retain clients and monetize their recurring service needs? How much profit did you make on a particular service contract? Did you sell the right contract in the first place? And what about billable time, schedule accountability, and margins?
Well, stop sweating. Because from now on, you have all the data you need to manage subscriptions and maximize recurring revenues.
Should a contract be cancelled for any reason, a new feature lets you enter the reason. Together with MRR reporting, it provides the comprehensive insight into subscriptions that allows you to develop a best practice to managing them.
Want to know more about our business software for Project & Subscription Management? Contact Diana Locke at firstname.lastname@example.org.
*Source: MKB Cloud Barometer survey 2015