In order to optimise revenue and streamline processes, SaaS companies must consider every option available in the industry.
Running a business on its best days isn't the easiest as such due to the number of responsibilities. And receiving payments from customers provide the right fuel to boost the business.
“The advance of technology is based on making it fit in so that you don't really even notice it, so it's part of everyday life.”
Bill Gates, Co-founder of Microsoft.
"When the customer comes first, the customer will last."
Artificial intelligence is a combination of computer science, software engineering, and advanced algorithms that enable computers to perform certain tasks with a degree of human-like capability. AI enables machines to make conclusions with little to no human involvement, learn from past experience, and respond to new parameters.
In any subscription business, reducing customer churn is key for protecting revenue and developing your business to a higher level. Companies must employ tactics to maintain customer relationships and prevent payment failures to decrease churn rates. It is super essential for a business to look after the churn rates, most effectively to reduce involuntary churn.
"There are always new, grander challenges to confront, and a true winner will embrace each one"
“A goal without a plan is just a wish.” ― Antoine de Saint-Exupéry.
One fine day, I was manually billing my customers as usual. It would take hours for me to sit and check everything without missing any payments and customers. When handling revenue records, I shockingly found that a particular bill was lost. I was frustrated to the end because that one bill means a lot to me as it would make a huge revenue loss for my business.
2022 passed and 2023 is a hectic year ahead. You are a busy person at your work with your hands full already. You wish to run a magazine publisher around your town but it's obvious that you can't be available 24/7 and keep a track of subscriptions.