Subscription management is the process of managing recurring payments for goods or services. This can include setting up and maintaining billing profiles, tracking payments, and dealing with customer inquiries. It is a key part of any business that offers subscription-based products or services.
Good subscription management ensures that customers are billed correctly and on time, while also providing them with a good experience. This can help to increase customer retention and reduce churn. It is important to have clear and concise subscription policies in place so that customers know what to expect.
There are many software solutions available to help with subscription management. These can automate some or all of the processes, depending on the needs of the business. Many businesses find it beneficial to outsource this function to a specialist company. This can free up time and resources to focus on other areas of the business.
