To successfully operate a subscription-based business, you need a SaaS billing software solution. These software solutions keep your business running smoothly.
According to Global Market Insights, the subscription and billing management market is experiencing explosive growth. It is projected to reach a staggering $22.3 billion by 2032.
The 2023 value of $6 billion has quadrupled, indicating the growing demand for efficient SaaS billing software solutions.
Despite this growth, many businesses underestimate the complexity of SaaS billing. This results in operational inefficiencies and hinders scalability.
To determine which features to prioritize, you can experiment to find the right SaaS billing software.
In this post, we’ll discuss the 9 best SaaS billing software you can try in 2024. Our post will guide you to discover the right billing software for your business.
Let’s get started.
Subscriptions are expanding at a 16% CAGR per year. As the subscription industry grows, so does the need for effective SaaS billing software.
The following is a summary of the best SaaS billing software solutions. Our comprehensive list will help you capitalize on the growth of this sector.
Image via Chargebee
Chargebee is a comprehensive SaaS billing software. It manages automated recurring billing, subscription management, and revenue analytics.
It’s certified as PCI Level 1 and has robust features. This includes customizable report generation, invoice, payment, and subscription management.
The platform is user-friendly and offers both free and paid subscriptions. This makes it suitable for businesses of all sizes.
Chargebee integrates with various SaaS applications, including SalesForce, accounting, and order fulfillment systems.
The platform's flexibility enables users to select the billing system that is most suitable for their business model. It lets users choose a billing system that fulfills their specific demands.
Unlike some Chargebee alternatives, the customer portal makes it easier for your customers to update their credentials and subscriptions.
You can manage online subscription sales, send personalized emails, and handle product shipments. On ChargeBee, you can create referral programs and track customer behavior all from a single platform.
Key Features
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Image via Chargebee
Tool Level
Usability
Pro Tip: You can model your billing process on a test site. You can also use the test payment gateway to conduct trial transactions. These trial transactions help verify the functionality on a test site before transitioning to your live site.
Image via Sage Intacct
Sage Intacct is a versatile and scalable SaaS billing software. It provides thousands of businesses around the world with robust accounting tools.
It offers core applications like general ledger, accounts payable, accounts receivable, cash, and order management.
The software includes built-in dashboards, real-time reporting, and time and expense management. It also includes project accounting, revenue management, and global consolidations for multiple entities.
Sage Intacct features an open API structure. It integrates with CRM, payroll, POS, and ERP systems such as Salesforce and ADP.
Its goal is to provide organizations with visibility and agility for data-driven decisions. It steers them toward growth and recovery.
With Sage Intacct, you can produce customized customer invoices and set up payment reminders in seconds.
Sage Intacct enables digital transformation via integration with budgeting and planning. Its digital transformation extends to HR and people software and continuous accounting, trust, and insight.
Key Features
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Pro Tip: Sage Intacct has a bookmark feature that enables users to save their current activity and revisit it at a later time.
Image via Stripe
Stripe Billing subscription management software facilitates diverse billing methods. This includes recurring, usage-based and negotiated contracts, automating global revenue management workflows.
If you are looking for a user-friendly payment platform, Stripe Billing provides comparable global payment support. It offers more flexibility in pricing models and subscription management features.
Stripe Billing leans more towards a recurring billing platform. However, it provides sufficient functionality to serve as your primary billing/subscription platform, albeit at a fundamental level.
It is tailored for SaaS companies, and it supports common pricing models. It also supports automated invoicing, basic tax compliance, and churn prevention features like dunning.
Additionally, you can use integrated modular revenue and financial automation systems to streamline important business procedures. Stripe Billing provides tools that enable you to streamline these processes.
Key Features
Pros
Cons
Pricing
Image via Stripe
Tool Level
Usability
Pro Tip: Stripe allows you to provide a detailed cost breakdown. You can provide quotations to assist your clients in making informed selections.
Image via Recurly
Recurly is an excellent SaaS billing software for subscription-based businesses seeking to expand their operations.
It’s a comprehensive subscription management solution. Subscription billing is just one of its many features.
Compared to other subscription management software, the platform is easy to use. Its automated features make it a top choice for managing subscriptions and recurring revenue.
The user interface is straightforward and user-friendly. You can easily access all the tools required for efficient subscription management.
The integrated fraud detection system is one of Recurly’s standout feature. It protects your business from fraudulent transactions.
Key Features
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Cons
Pricing
Image via Recurly
Tool Level
Usability
Pro Tip: You can easily pause client subscriptions to go on vacation. You can also postpone your next service.
Image via Maxio
Maxio is a SaaS billing software specifically for business-to-business SaaS companies that use event-based pricing. Maxio automates every aspect of the subscription lifecycle, no matter how complicated your demands are.
Maxio allows you to develop detailed, usage-based pricing plans that charge customers for important events. For instance, you can bill customers for conversions in ecommerce software.
The idea is to pinpoint metrics that provide value to the intended customers and then charge for significant business actions.
For example, you can create billing rules for event triggers if automation is critical. This ensures that charges are based on actual usage rather than just created workflows.
It also provides a precise approach to managing usage-based pricing. It improves product value communication and makes price points more obvious.
Its standout feature is the events-based billing system. It supports B2B SaaS companies executing action-focused usage-based pricing.
However, Maxio isn't limited to event-based billing. It accommodates various subscription models, such as freemium plans, free trials, one-time fees, monthly subscriptions, and major SaaS pricing strategies.
This flexibility allows for the testing of different pricing models. You can also develop distinct strategies for different customer profiles or usage-based add-ons.
Key Features
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Cons
Pricing
Image via Maxio
Tool Level
Usability
Pro Tip: You can integrate Keen, an event streaming platform, with Maxio. The integration gives Maxio users instant access to all of their Keen data.
Image via Salesforce Revenue Cloud
Salesforce Revenue Cloud, formerly Salesforce CPQ or SteelBrick, is developed on the Salesforce Platform and Salesforce1 Mobile App.
It empowers users to swiftly create accurate sales quotes and submit error-free orders from any device.
It is designed for small, midsize, and enterprise organizations focusing on sales goals and customer support. Salesforce CPQ aids in configuring complex deals, streamlining quoting approvals, ensuring sales compliance, and more.
It includes proposal and quote generation features, and image-based product selection. Salesforce Revenue Cloud is accessible on mobile devices.
In contrast to other Salesforce alternatives, it offers additional solutions for sales management, marketing automation, partner relationship management, and customer service.
Salesforce CPQ is hosted on the Sales Cloud platform. The platform provides user-friendly software that’s accessible from any device.
It simplifies bidding, contracting, and ordering processes. It also enhances sales productivity and helps close more businesses without leaving Salesforce.
This shared data approach expedites product launches. It also allows quicker iterations without cumbersome integrations.
Key Features
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Pricing
Image via Salesforce Revenue Cloud
Tool Level
Usability
Pro Tip: For a deeper insight into your invoicing process, consider tracking key metrics. This includes average payment time, late payment percentage, and total outstanding invoices.
Image via Square Invoices
Square Invoices is part of Square's comprehensive point-of-sale (POS) tool. This includes payment processing and features such as a virtual terminal, online site creation, payment acceptance, and team management.
It’s designed for businesses already using Square payment processing. It provides a free solution for sending invoices and receiving payments.
Creating an invoice is simple with Square Invoices. Choose the customer, enter basic details, and determine the delivery time.
You can opt for immediate or scheduled delivery by adjusting the payment due dates.
The platform accommodates one-time or recurring invoices. It offers flexibility in repetition intervals and due dates. You can also store customer credit card information for automatic charges.
Payment forms accepted include credit/debit cards (2.9% + $0.30 per transaction), ACH bank transfers (1% fee), or customer-bought gift cards.
Users can set up payment options, accept tips, and send invoices via email, phone, or manual channels. Attachments, such as detailed service breakdowns, can help streamline the invoice communication process.
Square Invoices integrates seamlessly with Square's full suite of tools. This makes it an adaptable option for businesses seeking efficient payment processing and comprehensive accounting features.
Key Features
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Image via Square Invoices
Tool Level
Usability
Pro Tip: You can use Invoices Plus to simplify the process of generating invoices for each purchase. Invoices Plus is a comprehensive business tool that allows you to easily create and manage invoices within Square.
Image via Paddle
Paddle serves as the all-in-one revenue delivery platform for SaaS companies looking to expand globally.
It streamlines subscription models on your website, including all stages of the software payment process. Paddle's comprehensive offering saves time and alleviates concerns regarding tax compliance.
Paddle is the go-to solution if you need a robust platform to maximize profit and global growth.
The end-to-end subscription management provides tools for implementing billing models. It also provides tools for testing pricing strategies, creating upgrade flows, and managing existing customers.
Furthermore, Paddle simplifies delivery and management at every level. It accommodates complex pricing strategies.
It lets you set up tiered pricing plans for diverse customer profiles. You can also create flexible enterprise pricing with customizable quotes based on needs and usage.
Paddle's standout support feature is its managed compliance service, Paddle Comply. It handles global tax, payment, and data compliance, allowing you to focus on business growth without regulatory concerns.
Key Features
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Pro Tip: You can easily compare your business to 40,000 other SaaS subscription companies. You can use the robust benchmarking and segmentation tools of ProfitWell Metrics by Paddle for comparison.
Image via Recharge
Recharge is an ecommerce subscription and recurring payment platform. It lets users quickly activate subscription offers and establish membership plans in minutes.
The setup process is easy, thanks to seamless integration with existing technology and popular payment processors.
With Recharge, selling subscription products is effortless. It requires no extensive modifications or professional assistance.
The platform accepts payments from various modes and platforms. It provides flexibility for sellers and convenience for customers.
Users can offer flexible options, like delaying or skipping deliveries. You can also test new products, reduce customer turnover, and foster brand loyalty.
The platform provides practical insights to respond to client demands in real time. It has robust interfaces for efficient task completion.
Key Features
Pros
Cons
Pricing
Image via Recharge
Tool Level
Usability
Pro Tip: You can remove accounts for staff members from Recharge if they were manually created.
Q1. What is SaaS billing software?
A. SaaS billing software automates subscription management, invoicing, and payment processes for businesses using Software as a Service models.
Q2. What is the best SaaS billing software?
A. The best SaaS billing software includes:
Q3. What is the best payment system for SaaS?
A. Reliable payment systems for SaaS include Stripe, PayPal, and Braintree. They are known for seamless transactions and security.
Q4. What is the best program to create invoices?
A. Leading e-invoicing software includes tools like Bill.com, AvidXchange, and Coupa. They streamline electronic invoice processes.
Q5. What is subscription billing software?
A. Subscription billing software manages recurring payments, and automates invoicing. It also manages subscription-related tasks for businesses with subscription models.
When searching for the best SaaS billing software, it's not advisable to prioritize a universal solution.
Instead, look for a software solution that seamlessly integrates with your existing tools. Look for one that automates repetitive tasks, and empowers you with data-driven insights.
Prioritize features essential to your unique billing needs and future growth. Avoid the trap of feature overload.
Following this guide and conducting diligent research will help you transform billing from a chore to a catalyst for success.
Still feeling overwhelmed by the options?
Don't hesitate to reach out! Share your specific business needs and challenges, and we'll be happy to guide you towards the perfect billing software fit.
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