As a previous digital marketing team member, I know that invoicing customers and sending them payment reminds is the thorn in most CEOs and accounting team’s side. Having software that could automat dunning management, multi-currency support, and customizable hosted payment pages would have alleviated many headaches. That is part of ChargeOver’s creation story. The founders Ryan Bantz and Keith Palmer were forced to work with manual, clunky, time sucking tools and they knew they could solve man of these issues by creating a friendly and easy to use automated billing software.
Automated subscription billing software can greatly help a digital marketing company manage its cash flow and organize its clients more efficiently. Here's how:
- Streamlined Payment Processing: Subscription billing software automates the process of collecting payments from clients on a recurring basis. This ensures that invoices are generated, payments are processed, and funds are received in a timely manner. By automating these tasks, the software helps improve cash flow by reducing manual efforts and potential delays in payment collection.
- Predictable Revenue Stream: Subscription billing provides digital marketing companies with a predictable and consistent revenue stream. With automated recurring payments, the software ensures that clients are billed at regular intervals (monthly, quarterly, or annually) based on their subscription plans. This predictability helps the company forecast and manage cash flow more effectively. Using accurate and timely reports in ChargeOver, knowing your data will be much easier.
- Client Management and Organization: Subscription billing software typically includes features to manage client information, subscription details, and billing records in one centralized system. It allows the digital marketing company to easily access and organize client data, track subscription status, view payment history, and manage client communication. This streamlines client management and improves overall organization.
- Subscription Renewals and Upgrades: Subscription billing software can automate the process of subscription renewals and upgrades. It can send automated reminders to clients about upcoming renewals, handle the upgrade/downgrade process, and adjust billing accordingly. This ensures that clients' subscriptions are seamlessly renewed and that any changes in subscription plans are accurately reflected in the billing system.
- Reporting and Analytics: Subscription billing software often provides reporting and analytics features that allow digital marketing companies to track revenue, monitor churn rates, and analyze customer behavior. These insights help in understanding the financial health of the business, identifying trends, and making data-driven decisions to optimize cash flow and client retention strategies.
- Integration with Accounting Systems: Many subscription billing software solutions integrate with popular accounting systems, making it easier to manage invoicing, track payments, and reconcile financial records. This integration streamlines financial processes, reduces manual data entry, and improves accuracy in financial reporting. ChargeOver partners closely with Quickbooks (Desktop and Online—we see you legacy QB Desktop users!😘), Xero, along with 60 other integrations and payment processors
By automating subscription billing processes, a digital marketing company can streamline cash flow management, reduce administrative burdens, enhance client organization, and gain better insights into revenue and client metrics. This ultimately allows the company to focus more on delivering effective marketing services to clients and growing the business.
Need more information about ChargeOver? Check out this On-demand Demo!
