Now that you have understood the trending shift towards recurring billing, in other words, I can say that businesses are adopting the subscription based model for their success and for a win-win situation. Now It's time to explore what your recurring billing platform should enable you to do.
I am assuming that you have read my last blog and had a sneak peak of what recurring billing actually means and how it saves your effort and time.
Here are 5 lessons I learned from one of MYFUNDBOX’s customer
Before diving in to what recurring billing means, I would like to hit the rewind button and take you back to those days where this concept was handled differently. So when a merchant had to collect money on a regular basis say it being monthly, quarterly, half yearly or yearly for the goods or services provided by him to his customers, he would have to ring a doorbell with a ledger book, a receipt book and a bag to collect his money of course!!
Starting MYFUNDBOX Subscription Billing as MVP in early 2021 and being awarded a High Performer in Subscription category Globally in less than a year was no less than a...
Earlier this year in our post ‘The Future of Subscriptions Looks Brighter Than Ever’, we wrote how, done right, subscription models have a bright future and have been trending for good reason. Subscription services are increasingly integrated into the life of the modern consumer. Even as the world tries to get outdoors more, subscriptions won’t disappear any time soon. For businesses aiming to implement this type of model, however, a cautionary note: like any type of business, there are no guarantees of success, as this piece on European CEO makes clear. They report that in 2016 alone e-commerce subscriptions had generated €2.3bn in sales. Building and maintaining a successful subscription service requires work and innovation. Part of these two necessities in turn involves learning the hows and whys of harnessing digital resources. Let’s look at ways digital resources can be used to amplify subscription billing.
The subscription business is growing rapidly. It is trending worldwide as most organizations are switching to subscription business models. Besides, most of the already existing subscription businesses are expanding globally. However, there are a few things you should keep in mind while expanding your subscription business globally.
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