Could your subscription business bankrupt you?
Subscription business models continue to rise in popularity, but many companies are struggling to transform these models into a profitable business. The major challenge is the underlying complexity and costs it takes to run effective and customer friendly subscription processes.
Understanding your subscription business model and running it in a highly automated fashion is core to preventing bankruptcy and increasing profitability.
At the centre of this model lies the complexity around different types of commercial options you can offer. The wider the offering to your customer, the more difficult it becomes to manage and scale your business. When your subscription scales up, the complexity multiplies. Consequently, you need more headcount to run the process, denting your profits.
Businesses in this position would assume billing automation is not the simple solution in this scenario. With no two subscriptions exactly alike, there may appear to be no way around performing at least some manual billing work at every billing cycle.
However, as more customers open accounts and the subscription business scales, manual billing quickly becomes untenable. At this point manual billing processes can even put a business at a competitive disadvantage. As a result many have had to abandon the subscription model completely.
Thankfully, automation is an option. In fact, it’s an imperative.
At Bluefort we concentrate on providing leading solutions for SaaS, XaaS and Retailers. Based on Microsoft Dynamics 365 business apps and technology we provide:
- Hyper automation of process flows from lead to cash and from procure to pay.
- Full CRM and ERP use, as our solutions are native to Microsoft Dynamics 365.
- Complete financial control and transaction management.
- Data analytics and reporting.
We can support you in transforming your subscription automation and business processes.