Recurring billing is sometimes used interchangeably for subscription billing, it is a payment model that enables businesses to charge their customers at predefined recurring intervals (weekly, monthly, quarterly, annually, or at custom intervals). A few examples of businesses that use recurring billing are - Cellular billing, OTT subscriptions, Newspaper and magazine subscriptions, Gym memberships & SaaS applications like Dropbox, Google Apps, or Slack.
Muvi Billing is a subscription management software, designed to seamlessly manage the complex billing cycles for your recurring billing business. Muvi Billing’s automated system manages complete billing processes, varied payment modes, recurring revenue streams, taxes, payments, subscriptions, and much more.
Your every customer is not the same nor their need is. To target all customers your subscription business will need variable pricing or pricing tiers. Muvi billing helps you create, test, iterate and manage multiple pricing plans with ease.
To reap the benefits of recurring billing, you need to automate workflows, including payment collection, invoicing, and revenue recognition, based on the individual subscribers. Muvi Billing helps you improve billing accuracy and increase billing efficiency across the board by converting your manual processes into automated workflows.
While running a subscription business it is important that you offer multiple payment options for your customers to choose from. Muvi Billing offers 17+ payment gateways that allow you to accept payments with credit cards, debit cards, ACH, carrier billing, digital wallets from anywhere in the world. You can also integrate your preferred payment gateway or even integrate your own, out-of-the-box and accept payments in local currencies across the world.
Analyzing recurring billing performance is important to know to correct any issues which may hinder your growth. With Muvi Billing you can go beyond the basics of MRR and drill down into other metrics like Average Revenue Per Subscription, Lifetime Value, revenue for specific regions, customer segments, and payment gateways, etc. Collate the actionable insights at one tap before turning them into lucrative sales proposals.
Muvi Billing offers you a variety of recurring billing models such as Fixed, Hybrid, Tiered, Volume-based, or Usage-based, which offers different billing frequencies - designed to keep your offerings unique. You can either choose one or multiple billing models, based on your requirements.