We’ve all enrolled for subscriptions in one form or another at some point in our lives. From newspapers to magazines, to dairy supplies to automobile washing arrangements, the world isn’t new to the subscription model. This very model has seen a resurgence and a revolution with the emergence of the digital landscape where e-commerce has enabled customers to handle virtual memberships without any hassles whatsoever.
Moreover, the global pandemic has paved a way for subscription billing to take centerstage across multiple domains. A testament to this growth can be seen in how 50% of global subscription-based companies have seen an accelerated growth rate.
While the business model has seen tremendous growth over the years, different businesses are facing multiple issues when it comes to implementing it effectively. Managing their business along with the billing and subscription plans is an arduous task and there is a dire need for subscription billing to be made easy and seamless.
Helping different businesses achieve this ease are different subscription billing API(s) that have entered the market. These APIs help developers create, update and retrieve subscription plans from any application. One such subscription billing API that can help businesses track their subscription plans with their customers along with billing phases and cycles is the Smart billing API by Easebuzz.
Smart billing is a subscription billing API that helps businesses access information through a smart dashboard that is powered by centralized data management software. This can help businesses unlock the true potential of subscription plans for businesses while ensuring they cater to their customers through personalized plans with invoices being generated on a recurring basis.
Smart billing can help businesses with
– Flexible subscription plans: Have custom-built, dynamic subscription plans by taking care of your pricing model.
– Automatic retries: More than often, payments for subscription plans fail. In such cases, Smart billing retries during a grace period to help increase conversions.
– Subscription billing management: Delight your customers with customized bills and promotional plans.
– Automatic account updater: Auto-update your account to ensure customers have access to the latest information.
Smart billing subscription API also helps businesses with numerous other facets with integration that includes the likes of:
– Freedom to craft the subscription plans that work for the business with custom billing frequencies, promotional offers and trial periods.
– The option to change or update subscriptions from one plan to another through a simple API.
– The advantage of keeping all the existing features of the current subscription model with the added benefit of having additional features.
Smart billing also comes with a host of features that include the likes of:
– Split payments
– QR code enabled payments
– Comprehensive report generation
– Downloadable PDF invoices
– GST compliance
Conclusion
Businesses today are looking for subscription models to boost their sales, as it offers recurring orders with continued marketing promotions. Having an all-encompassed subscription billing API can help ease this process drastically, as it offers a superior payment experience for customers. The smart billing feature by Easebuzz offers the best holistic experience while ensuring subscription billing happens without any hindrances, seamlessly.
