Multiple companies prefer to keep manual operations in place when it comes to critical business processes. Some combine them with modern business tools and integrate recurring payments model.
This contrast of past and future often undermines customer experience together with potential growth of a business.
A subscription business is all about customer experience. The only way to have a minimal churn rate and to grow a business is to pay attention to clients’ needs. This means adding value to products and services instead of doing raw commerce.
Lots of tools are available such as loyalty programs and game mechanics, but to utilize them, businesses have to move fast. Sales and accounting with no automation are exactly what drags down most companies trying to add value and improve their services.
Calculating discounts and rewards involves looking up clients’ purchases and tracking their shopping experience. Processing even a hundred of them is close to impossible when you have to manually export from multiple CRMs and do the billing. It often leads to inaccurate results and even loyal clients going away.
Even minor events should be handled by a back-office team. Recurrent payments multiply the workload, and billing becomes a real pain, resulting in higher churn rate and up-selling problems.
This model involves integrating main business processes: Marketing, accounting and sales should be in sync. Manual operations with multiple CRMs in place work for anything but subscription business. Analytics, reporting and billing should be automated. Here’s how to accomplish that.
Making changes is hard, and when it comes to reassembling business processes for your company, it requires you to have qualified managers and programmers and modern tools. Businesses like farm products delivery often lack what it takes to integrate sales CRM, accounting and billing systems. They need something powerful, easy to use and affordable.
One tool available today is Hydra. It automates billing, provisioning and reporting, allows you to generate flexible plans and loyalty programs and handle recurrent payments. This is a way to integrate existing business processes and get rid of the rudimentary ones. As a result, business processes become predictable and deliver accurate data.
Automated billing is one of the main pillars of lowering your churn rate and growing a business with your clients’ needs in mind.
