Essential Advantages and Benefits of Subscription Model-Based Business

  Billing automation can help businesses of all sizes to improve their bottom line. By automating key billing processes, companies can free up time and resources that can be reinvested into other growth areas. In addition, automated billing can help to improve customer satisfaction by reducing errors and increasing transparency. Billing automation can be a complex and daunting task for businesses, but several providers offer solutions that can be tailored to specific needs. By working with billing automation software, businesses can gain a strategic partner that can help them to implement and manage a solution that will help them to achieve their growth goals. Billing Options: Manual vs. Automated Businesses nowadays focus on a combination of one-time payments, subscriptions, and usage-based invoicing. This is a mess of different subscriptions with different billing mechanisms. As a business expands, more transactions will undoubtedly occur, which will eat up manual labor hours and dis

Revenue recognition is the process of recognizing revenue in the financial statements, and it is a crucial aspect for examining a businesses performance. Revenue is recognized when it is earned, and it is earned when the performance obligation is satisfied. According to 2018 deadlines, it is necessary for the organizations to be ASC compliant, no matter whether they’re private or public companies. However, following the revenue recognition standards,  ASC 606 , has become more difficult over time for SaaS and other subscription organizations due to the evolving nature of some subscription revenue arrangements. ASC 606 (Accounting Standard Codification) step 4, formulated by the Financial Accounting Standard Board (FASB) along with joint efforts from International Accounting Standard Board (IASB), develops revenue standards and clears the terms related to revenue recognition. Step 4 of ASC 606, a five-step revenue recognition process, which requires allocating revenue based on standalon

 The growth of eLearning businesses has been exponential over the past decade, and the increased accessibility and affordability of digital technology have driven this progress. Although the industry was experiencing growth prior to the pandemic, the pandemic proved to be the jab it needed to accelerate. It becomes essential to mention that the expansion of this root of businesses became significantly evident when the lockdown hit the globe due to Covid. It would be tough to talk about the pandemic without mentioning the significant shift in educational institutions, universities, and other learning platforms adopting online and remote learning. And that is why with an expectancy to grow by a significant amount, the eLearning business is projected to reach even greater heights. The rise of online learning replaced traditional classrooms while bringing it to the comfort of your home. Following the trend, some learning platforms, such as Coursera, Udemy, and edX, eLearning busin

Businesses despise it when customers leave, and SaaS companies start to worry about CHURN. No company wants their customers to leave for any reason as it impacts their business status and affects their revenue. Customer Churn and Revenue Churn can be correlated and are the terms which require the most attention of any subscription business. Now that we have established that Churn is the most evident term that deserves attention, why this happens is another significant factor which needs to be addressed. Do customers leave willingly? Are they not happy with your services or product? What are the reasons behind them leaving? How can it be reduced? These are a few of the questions which we will take you through by the time this article ends. Do customers leave willingly? Are they not happy with your services or product   Well, the answer to the first question is NOT NECESSARY AND NOT ALWAYS. Not every customer who is quitting is unsatisfied with your services. This is the point where the