What is the most important component for any business? Well, there are many and the billing system is definitely one of the significant ones!
Do you know, most of the successful online businesses have automated billing systems and definitely not the manual ones? An automated billing system is mostly recurring where the billing related activities are streamlined and you get an automated solution for everything- handling missed payments to generating invoices.
If you are an avid user of online platforms like cab booking apps, food delivery apps, shopping websites, OTT channels etc., you already know that recurring billing software is imperative for any online platform.
And you may need to know about the best recurring billing softwares in 2021 if you have an online business or plan to start one!
Top Recurring Billing Softwares in 2021
Equipped with both free and paid plans, Chargebee is simple to use and provides recurring billing solutions based on your business requirements.
- Supports fast-growing B2B SaaS businesses
- Customizable payment options
- Multi-currency options
- Not many variety of payment gateways to provide competitive advantage
- Quite expensive, especially for the small businesses
Fusebill is the most appropriate for subscription billing businesses. Apart from that it offers multiple solutions such as dunning management, payment reminders, email communications, and others.
- A good fit for scaling up subscription billing businesses
- Robust self-service portal including self service registration, checkout, billing, subscription management etc.
- Provides churn prevention, dunning management, and revenue recovery solutions
- Plans to access its full features are quite expensive for small to medium businesses
- Additional fees is often required for implementation and support
- Limited number of payment gateways
3. Muvi Billing
Muvi Billing is a recurring billing system which is more like a monetization engine for websites and apps providing various automated billing solutions for diverse industries.
- Affordable for any business
- Industry agnostic
- 40+ payment gateways
- Supports multiple monetization options
- Multi currency and multi language support
- Smart record keeping, analytics and insights
- Easy tax configuration
- Simple-to-use dashboard
- More focussed on scaled subscription billing management
The recurring billing software Zuora is a good match for the companies generating high revenues. Some of the industries for which Zuora works efficiently are B2C, communications, healthcare, software, high-tech, and others.
- Flexible to use in different online platforms
- Appropriate for cloud applications
- 30+ payment gateways and 20+payment methods
- Not a good option for start-ups or small businesses
- Transparent pricing plans are not available on their website
- Quite complex to use
Stripe is basically a payment infrastructure used over the internet. It provides a fully integrated suite of various payment products for diverse industries.
- Pre-built integrations for the systems like Shopify, WooCommerce, NetSuite etc
- Supports 135+ currencies and payment methods
- End-to-end billing solution without coding
- Supports currency conversion
- Doesn’t track key subscription metrics
- Not so efficient in subscription management or conversion boosting
Recurring billing and invoicing software Zoho is mainly focused on start-ups, small businesses, and freelancers.
- Easy tracking of time & expenses
- Free demo and simple-to-use
- May not be a good fit for growing or medium to large businesses
- Not so smoothly integrable for diverse platforms
Recurring billing platform ChargeOver is a good fit for subscription billing businesses.
- Automated workflow
- Automatic payment retry/dunning solution
- Not so apt for business globalization
- Plans for growing enterprises is quite costly
While Wave is not a feature-rich platform for recurring billing management, it can be a good option if you are looking for a free billing management solution.
- Tracks and connects with various Wave products such as- payroll, payments, & invoicing
- Simple to use
- Not efficient for medium or growing businesses
- Not a good fit for scaling your business up or globalization
- Limited third-party integrations
Choosing the appropriate recurring billing software for your business can be quite tricky as it entirely depends on your business type and requirements. While the above-mentioned billing softwares are some of the top recurring billing solutions, it is advisable to go through their features and free trials before you opt for one.