Detailed Understanding of Zoho Subscriptions

Automation in all business processes has become a necessity rather than a choice. In case a business desires to evolve with time while making sure that all the business processes are completed in an efficient way then automation precedes it all. Zoho Subscriptions introduced by Zoho is essentially an online subscription billing software that is created for growing a business.

You can think of Zoho Subscriptions as an innovative and evolved recurring billing and subscription application that is designed to manage all processes linked with a subscription-based business. It is a platform that comes with a wide range of features and benefits including that of generating multi-currency invoicing, offering discounts, trials, and online and offline payment methods, etc.

Zoho Subscriptions essentially comes pre-loaded with applications and important tools that make it compatible with Zoho Books – the accounting software of Zoho. Another important and significant feature of Zoho Subscription billing is that it comes with a dunning management feature that enables businesses and individuals subscription providers to chase overdue payments from customers and address payment failures.

Offering a highly flexible pricing scheme, Zoho Subscriptions allows the customers to pay a price that falls within their budget comfortably. What’s more, there is a free test package also available so that interested businesses and individual service providers can easily explore a platform’s functionalities and features.

In this blog, we intend to introduce you to a detailed understanding of Zoho Subscriptions, its features, and why you should adopt it. In case you wish to stimulate your entrepreneurial spirit by adding functional software to your use then this blog is for you.

What is Zoho Subscriptions?

After offering a small insight into the Zoho Subscriptions, let us move to understand more about this software application. Essentially, Zoho Subscription is a cloud-based recurring billing and subscription solution that is designed to handle each aspect of a subscription-based business. It is an online subscription billing software that is innovative and helps in addressing payment failures and chasing overdue from the customers.

It provides businesses and individual subscriptions with multi-currency invoicing, trials, offline and offline payment methods, discounts, and other features. What is the best thing about Zoho Subscriptions is that it is loaded with a pre-integrated tool and application that lies at the data level which is basically meant to connect Zoho Subscriptions with Zoho Books – Zoho Accounting software.

Each transaction linked with a new subscription, customer credit, renewal, and refund is almost instantly available in Zoho Books which saves the user’s time and effort to transfer the data manually. Since this integration involves no clicks, efforts, or costs, the users are free of all manual data entries for any of Zoho’s productivity suite products.

To ensure that things become even better, Zoho Subscriptions management also provides the users with a wide range of apps and integrations that help in streamlining the corporate operations. Some important features include RESTful APIs, integrated payment methods, Webhooks, and powerful reporting tools for mentioning a few.

The pricing scheme is actually very flexible which means that the entire system is available even for the users who are on a budget and this is actually great because one can explore important features while seeing if Zoho is the ideal product or not.

Reasons Why You Should Adopt Zoho Subscriptions?

1. Subscription Billing

Regardless of whether you are offering weekly, monthly, or yearly subscription-based advice, all of these things can easily be set up for the auto-billing of your customers. Some of the important features that can be added for the initial setup include the free trials, frequency of billing cycles, tax, price, expiration after some amount of billing cycles, and many more.

You can set up so many plans with ease while including the plan descriptions so that your clients are never unsure or unsatisfied when the billing time comes around. Very similar to the other functional online solutions that come in the Zoho Finance Suite, Zoho Subscriptions is a software application that comes with many pre-existing templates for invoices.

In case you do not have a fixed template, you can also create one so that your auto-billing is sent out on a rather professional level. With this, you can pull out fields from the customer’s data for automatically filling in blanks that are within an invoice.

By using the custom fields, you can record substantial information that relies on the needs of a business to make important decisions when it comes to growing a business. You can also know what works and what does not while adjusting a subscription model accordingly.

2. Processing Payments

One should always know that more is better and this goes for allowing a customer to have different ways to pay for a subscription. With the use of online subscription billing software such as Zoho Subscriptions, it is easy to collect payments. In fact, it can be done online and offline.

Even if you are running an international business, it is possible to do so because Zoho Subscription supports as many as 87 currencies. This means that the international portfolio of your business can be managed under one roof.

To make this simpler, let us give you an example. In case your customer’s payment fails to get processed then you might lose out on the revenue from that client for a month. However, with the implementation of Zoho Subscriptions, this can be helped. Let’s say your client got a new credit or debit card because they lost their old one. Now, this can be a real reason for the payment failure.

With the use of Zoho Subscription Billing, you can easily automate an email for going out to the customer while following up with an email after that. This can depend on the fact if your customer fixed the payment method on the file. When this specific thing goes overlooked, your client might not even realize that they are missing out on paying you for a month. This one stream of revenue that you might be missing out on can actually add up to your overall profit very quickly.

3. Impactful APIs

It doesn’t matter in case you are a small, medium, or large business, the more you can focus your energy on automating things, the more you will be able to save. An important rule to make all businesses thrive is by being smart with the labor costs. These small tasks should not be left to the risk of any kind of human error as well.

With the help of Zoho Subscription API – the root of automation, it becomes possible to create workflow rules that help in automating actions that particularly cater to the business needs. This majorly includes automated email alerts, custom functions, and buttons, and tracking the subscription changes with the help of Webhooks.

This place is right where you will be able to make the most out of the key features in an organization while creating functions that give analytics. In essence, once you have built a machine, maintenance must be minimal. The initial build-out can definitely be costly in the beginning, but in the long run, it can help in saving you a lot of money on the labor and also boost sales.

4. Manage Multiple Subscriptions

Subscription management has a tendency to become complicated when the clients have multiple subscriptions. However, it can become very easy with the help of Zoho Subscriptions management. You can send an invoice to a customer who has subscribed to different products or services along with adjusting their credits.

Zoho Subscriptions helps in adding and managing different pricing plans to the products and services. This further enables you to reach out to a diverse range of potential customers. In fact, you can also get a peek into all the pricing details from a screen while allowing more people to test your products and services on a trial period.

Other than this, the Zoho Subscriptions Customer Portal enables your customers to see important information about the subscriptions, payments made, and statements without any kind of need to wait for sending information. This also helps in updating a card and contact details directly from the portal.

Essentially, with the use of Zoho Subscription Management, you can create plans, offer add-ons and coupons, empower your customers with a dedicated self-service portal, manage multiple subscriptions, and consolidate invoices for different subscriptions.

5. Customized Subscription Experience

By using the Zoho Subscriptions Management, you can choose the invoice templates that you want and make them reflect your brand simultaneously. By adding a company logo and including your terms and conditions, you can customize each element of your invoice.

Other than this, you can change and customize the hosted payment page to make sure that it matches the image of your brand. By using customizable elements, you can convey important information to the prospects before they subscribe to your products or service.

What’s more, Zoho Subscriptions has a ready-to-be deployed pricing table along with a checkout button widget that helps the prospects to get all the important information they need to make a payment in a couple of clicks. All you have to do is edit the widget for matching your needs and embed the code on the website.

In addition, the best is that Zoho Subscriptions makes your clients feel at home after they subscribe because it offers them access to the customer portal. You can personalize the portal to make sure that your customers can make subscription changes without leaving a brand environment.

6. Getting Important Insights

There are more than forty subscription metrics and analytics from Zoho Subscriptions that do the job of reviewing quick insights into the subscription business health such as churn rate and monthly revenue from the intuitive dashboard of Zoho Subscriptions.

Zoho Subscriptions Billing provides financial reports such as net revenue and invoice details, activity-based reports such as API usage, and activity logs that help in understanding subscription billing, the business revenue, and customers. Regardless of the fact if you need to filter a report for a particular time period or see results for a specific product, Zoho Subscriptions helps you. You can easily create custom reports for all of your business needs.

You can also know your taxable amount and the amount of tax you have collected from the clients, with detailed reports that depict your tax summary and the outward supplies to enable you to file your GST returns accordingly.

With more than thirty analytic reports, encompassing sales, revenues, and subscription activity, you can stay at least two steps ahead with your decision-making operations. You can view important information from the dashboard, get important reports such as MRR, churn rate, and LTV, understand the tax liabilities, and get reports delivered to your email.

Conclusion

Zoho Subscriptions is a one-stop recurring billing and subscription management solution. Using the Zoho Subscriptions, you can manage important billing cycles, see customer subscriptions, automate invoicing process and payment collection, manage failed payment retries, and analyze business growth.

Hence, if you make the decision to adopt Zoho Subscriptions now by getting in touch with an experienced and knowledgeable Zoho Consultant, it will pay off immensely for your business. You will be able to experience some of the best integrations that help you in managing all the important aspects of your subscription business.

Encaptechno offers reliable services in the implementation of Zoho Subscriptions. Get in touch today to have the subscription management software installed and experience its unlimited benefits.