Best SaaS Subscription Management Software in 2023
ControlHippo is one of the best SaaS subscription management software, helping small and medium-sized businesses to large enterprises discover, manage, and secure multiple SaaS applications from a single dashboard.
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What is SaaS Subscription Management?
SaaS Subscription Management refers to managing subscriptions for Software as a Service (SaaS) products. It entails activities such as subscription creation, renewal, cancellation, payment processing, and customer communication.
What is the Need for Subscription Management?
Businesses, especially IT companies, need SaaS subscription management software for multiple reasons, as listed below:
- To ensure accurate and timely billing with no errors.
- To increase customer satisfaction, loyalty, and retention.
- To optimize pricing strategies and offer promotions.
- To comply with legal and regulatory requirements.
- To scale efficiently as per the fluctuating demands.
How Does Saas Subscription Management Work?
The SaaS subscription management process typically starts with subscription creation– where customers sign up for a SaaS product and provide their billing information.
From there, SaaS companies use subscription management tools to monitor customer usage, track renewal dates, and handle billing and payment processing. In addition to these basic processes, SaaS subscription management involves analytics and reporting.
What Are the Benefits of SaaS Subscription Management?
SaaS subscription management software provides a range of notable benefits for SaaS companies. Below listed are five major ones:
- Improves customer experience and revenue generation
- Increases revenue by reducing payment errors and delays
- Reduces churn by identifying at-risk customers
- Enables efficient operations by automating processes
- Provides valuable data insights for informed decisions
Key Challenges of SaaS Subscription Management
Managing subscriptions for SaaS products can be a complex feat for businesses with these challenges:
- Keeping track of subscription details and customer data.
- Ensuring timely renewals and avoiding lapsed subscriptions.
- Managing changes to subscription plans and pricing.
- Addressing billing issues and managing payment failures.
- Communicating and providing excellent customer support.
However, businesses can overcome these challenges with the right SaaS subscription management tools, such as ContolHippo.
How ControlHippo Helps You Manage Your SaaS Subscriptions?
Optimize SaaS Spend
ControlHippo– a SaaS management platform, can cut your SaaS spend by nearly 30%.
Secure Your Organization
ControlHippo also helps you with access management and app filtering based on security standards.
Compliance Management
You can also keep your IT infrastructure GDPR and CCPA compliant by using ControlHippo.
Reduce IT Shadow
ControlHippo also ensures that no individual purchases any SaaS application without your approval.
Enhanced Visibility
Our SaaS subscription management platform also improves visibility across SaaS applications.
Manage Billing Activities
ControlHippo– the best SaaS billing software, also assists you with billing and invoicing tasks.
SaaS Subscription Management FAQ’s
SaaS subscriptions have gained huge popularity, with 99% of companies using at least one SaaS tool globally. However, when you use multiple SaaS tools in your organization, managing them could be overwhelming. With a SaaS subscription platform, you can:
- Discover your SaaS footprint
- Understand potential security risks
- Identify overlap between SaaS applications
- Automate employee onboarding and offboarding
- Define administrative and access controls
The 3 types of SaaS subscriptions are:
- Monthly subscriptions: Users pay a monthly fee to access the software product
- Annual subscriptions: Users pay a fee annually to access the software product.
- Perpetual subscriptions: Users pay a one-time fee for access to the software product indefinitely.
ControlHippo is an excellent SaaS subscription platform because it offers a wide range of features that make SaaS management effortless. It includes application discovery, usage management, permission management, renewals, and more. As a result, you can cut your SaaS spend by almost 30%, track all your licenses & app permissions, and automate renewals.
The best SaaS billing software helps reduce your SaaS spending by:
- Cross-checking new tools against existing applications
- Checking for compliance with data security, legal, and financial protocol
- Ensuring all the SaaS tools are being used (against their license)
- Identifying applications with too many or too few seats
- Alerting you of upcoming SaaS renewals
Sign up with ControlHippo to get SaaS subscription management software for free. All the features of ControlHippo are free and come with no hidden fees, making it the best SaaS billing software.
10 SaaS Subscription Management Software: Pros, Cons and Pricing
SaaS subscription management is indispensable for SaaS companies that run on the subscription model. In fact, 48% of recurring-revenue-based businesses struggle to tackle accounting and reporting challenges. Why so?
Well, it’s quite tiresome to collect customer details, track their subscription status, roll out recurring bills, collect payment details, and manage revenue without any external help. You may witness a dip in productivity and a slowed-down workflow.
Here’s when SaaS subscription software comes in. We have curated this list of the top 10 SaaS subscription management software with their key features, pros, cons, and pricing to determine how to manage SaaS subscriptions.
Criteria For Selection
The market is flooded with SaaS subscription software, but not all are suitable for your business. So, we have curated this list of the top 10 SaaS subscription software leading companies leverage to garner great results. These software have high revenue potential, freeing your time to focus on strategic tasks rather than draining time on operational ones.
Here are the criteria for our selection:
- Features: These software do not just perform the basic tasks but consist of high-utility features that’ll add revenue and efficiency to your SaaS subscription management.
- Pricing: An ideal software adds significantly higher value than its costs, which these software are adept at.
- Reviews: Each software in this list is power-packed with benefits that its existing users have appreciated and reviewed. Based on user feedback, drawbacks are also mentioned for you to make an informed decision.
Expert Advice: “Choosing the best SaaS subscription management software can help your organization manage SaaS spend effectively, automate IT tasks, and monitor subscriptions effortlessly. Consider the key features, pros, cons, and pricing before investing in a SaaS subscription platform.”
10 SaaS Subscription Management Software in 2023
Here’s a list of 10 exceptional SaaS subscription software you can choose from to manage SaaS subscriptions.
1. ControlHippo
ControlHippo is a top-rated SaaS subscription management software that enables all businesses, regardless of size, to manage SaaS subscriptions in one place. It allows you to manage permissions and licenses, automate renewals, and more while cutting your SaaS spend by 30%.
Features
- Spend management
- Frictionless monitoring
- Usage tracking and analytics
- Security and compliance management
- Application usage insights
Pros
- Cost-effective
- Caters to all recurring revenue business needs
- Streamlines user and application management
- Sends subscription renewal alerts over emails
Cons
- Initial learning curve
- Fewer options for customizations–notifications, for instance
Pricing
- Professional: Free
- Enterprise: Contact sales to get a custom quote
2. Chargebee
Chargebee is hands-down the best SaaS subscription and revenue management software industry leaders use to streamline their monthly revenue cycle and manage SaaS subscriptions effectively. From creating subscription bills and managing membership renewal to proactively collecting failed payments and reporting revenue in a single accounting system, Chargebee caters to it all.
Features
- Personalized and contextual discount management
- Dunning management
- Customer portal
- Multi-period recurring billing
- Addresses customer churn by identifying cancellation cause
Pros
- Easy to navigate
- Great customer support
- Option to add on certain features rather than changing plans
- Solid integration with different platforms–schedulers, emails
Cons
- Price increases yearly
- Invoices are difficult to edit
Pricing
- Rise: USD 249/month
- Scale: USD 549/month
- Enterprise: Contact sales to get a custom quote
3. Recurly
Recurly is another subscription management system that big brands with $50M subscribers trust to boost and strengthen their recurring revenue faster. This platform provides interesting subscription data to strategize campaigns to bring in more customers. With Recurly, you can customize your subscription growth strategy according to your business and customer needs.
Features
- Invoice history
- Customer management
- Payment processing
- Automated recurring billing
- Identifies at-risk customers who might churn
Pros
- Automated invoices save time
- Abides by country-specific taxes while creating invoices.
- Top-notch Recurly migration services
- Multiple payment gateways can be arranged on Recurly
Cons
- Reports eliminate critical information while downloading
- Slow account search speed while the software is updating
Pricing
- Professional and Elite: Request for a custom quote
4. Sage Intacct
Sage Intacct is a subscription billing and management software for your SaaS business to set flexible billing frequencies and schedules for subscriptions. With Sage’s built-in tiered pricing and usage-based billing, free your time from labor-intensive tasks and focus on strategic tasks better.
Features
- Real-time SaaS dashboards
- Automated SaaS pricing and billing
- Integrates billing with automated revenue recognition
- Robust Salesforce CRM integration
- Facilitates open and configurable cloud accounting
Pros
- Eliminates the cost of manual billing
- Creates quick reports such as cash forecasts and deferred revenue waterfall
- Eliminates the cost of buying different finance tech stacks
- Choice to customize pricing models according to subscription usage and terms
Cons
- Unmordernized and un-updated interface
- Cannot delete previous records of transaction
Pricing
- Get a quote on request.
5. Paddle
Paddle is a good subscription management software for B2B and B2C businesses that takes care of all payments, taxes, and subscriptions so they can be free from operational complexities. With Paddle, businesses have witnessed a 60% reduction in churn, which is a dream for SaaS businesses, isn’t it?
Features
- Consolidate invoicing (multiple invoices, one payment)
- Blacklisting (block suspicious users/fraudsters)
- Dispute management
- Personalized discount management
- Monitor plan changes
Pros
- Customizable payment plans–one-time and extra usage payment
- Well-written API document
- Easy onboarding process
- Collects and records VAT payments
Cons
- Delayed customer support
- No segregation of new and existing users on the dashboard
Pricing
- Pay-as-you-go: 5%+0.5 dollars per transaction
- Custom pricing: Contact sales for the quote
6. Billsby
Billsby is a recurring billing software to streamline your subscription revenue by customizing it according to your business’s recurring billing workflow. With Billsby, you can leverage Zapier integration for the next steps, like rolling out the welcome pack through Shipwire, adding them to the mailing list with MailChimp, and so on.
Features
- Financial performance tracking of each package
- Identification of special pricing impact
- Service suspension for unpaid invoices
- Plan changes monitoring
- Grouping standard plans and products
Pros
- Allows you to set strategic prices by identifying the one that works great
- Reaches out to customers automatically when payment is pending
- Easy subscription plans setup
- Prompt customer support
Cons
- Coupon code creation is difficult
- No custom message for the shopping cart
Pricing
- Core: $35/month
- Custom: Contact sales to get a custom quote
7. Maxio (previously Chargify)
Maxio is an exemplary subscription management software that allows you to manage subscriptions while setting usage-based pricing for better customer satisfaction. Maxio also takes care of critical operations such as automating invoices. With Maxio SaaS subscription management tool, businesses have reduced their overdue invoice rate.
Features
- At-risk customer identification
- Deferred revenue (monitor payments received for products in transit)
- Personalized billing
- Escalation (defines the process of suspending services for unpaid invoices)
- Batch invoicing
Pros
- Easy revenue recognition
- Tracking Annual Recurring Revenue
- Easy sync with multiple systems–QuickBooks
- Relevant insights (no need for a spreadsheet of analytics)
Cons
- Long, unmanageable financial reporting
- Long process to address and correct tax errors
Pricing
- Essentials: $599/month
- Growth and Scale: Contact sales for a quote
8. Stripe Billing
Stripe billing is the one-stop solution to bill customers, boost revenue, and accept subscription/invoice payments worldwide. No code is required to set up a customer portal, receive payments, and view financial reports. The best part about this SaaS subscription management platform is that your customers can manage their subscriptions via secure customer portals without additional help.
Features
- Offer optimization
- Address customer churn
- Invoice error adjustments
- Digital billing (in PDF format)
- CRM and sales software integration
Pros
- Modern UI
- Self-explanatory dashboard
- Functional mobile app
- Less payment receiving fee
Cons
- No alert when the invoice is viewed
- Delayed payments receiving
Pricing
- Starter: 0.5% on recurring payments
- Scale: 0.8% on recurring payments
9. Zuora Billing
Zuora Billing is a subscription billing software that allows businesses to set a flexible service pricing strategy using 50 different pricing models–usage charge, one-time price, and more. With Zuora Billing, billing automation becomes easy, so you can scale your business without much effort.
Features
- Receipt printing
- ACH check transactions
- Signature capture
- Debit card support
- Elaborate invoices
Pros
- Multiple currency billing is available
- Highly compatible with other systems like Salesforce
- High data accuracy on customer database
- Efficiently tracks subscription terms and bills based on it
Cons
- Modifying subscriptions is tough
- Creating a report is difficult
Pricing
- Contact sales to get a custom quote
10. FastSpring
FastSpring is a subscription management software offering billing intervals, upgrades, and paused subscriptions, which you can use to manage SaaS subscriptions efficiently. It saves you from the stress of collecting failed payments by automating re-billing and payment collection to avoid customer drop-off.
Features
- Checkout process optimization–shopping cart customization, for instance
- Order management
- Fraud management
- Internationalisation–Supports different languages, multiple currencies
- Reliable–Low downtime
Pros
- Simple guides at every step
- Easy product addition by duplicating existing one and changing its attributes
- Custom quote generation
- Clear transactional stats
Cons
- No chat support for client purchase issue
- Lacks WooCommerce integration
Pricing
- Contact sales to get a custom quote
Wrapping up
If you are a SaaS company and haven’t invested in a software for managing subscriptions, you’re missing out on big money due to inefficiency. There are tons of options available in the market for all kinds of organizations that can enhance productivity and help companies gain an instant competitive advantage.
Choose the most suitable SaaS subscription software to accelerate revenue growth with features like streamlining billing, monitoring subscription analytics, and discount management and boost bottom-line results instantly!
ControlHippo platform allows you to do more than manage SaaS subscriptions
Multiple Easy Integrations
ControlHippo is compatible with a wide range of applications.
Seamless Apps Monitoring
You can get complete, real-time visibility into all of your SaaS apps.