Are you looking for suitable SaaS billing software for your subscription business? Feeling lost already? There are innumerable options for SaaS billing software, all of which promise quality, automation, and customer retention.
There may be tons of good SaaS billing software but what’s right for your business? And how do you pick a suitable tool that will guarantee sustainable growth?
It depends on your business needs, size, and budget.
For instance, you may just need a basic subscription management platform with essential features. Or, your business may have a complex pricing structure and would want a more advanced tool.
Whatever your needs are, we narrowed the list of best SaaS billing software down for you, so you wouldn’t have to.
Here are our top 10 SaaS billing software platforms, their key features, pricing, and everything in between.
Top SaaS Billing Software for Your Subscription Business
Why is having SaaS billing software important?
SaaS is a fast-growing industry. This points to the growing demand for subscription management platforms and SaaS billing software.
For SaaS businesses, your subscription services would benefit from a tool that:
- Collects and tracks your revenue
- Has marketing automation capabilities
- Manages your billing cycles
- Manages customer information
- Tracks major SaaS metrics and provides analytics
Saas billing software solutions automate most of these functions so businesses can focus on improving their products and services.
As a result, businesses increase their revenue, reduce churn, and increase their customer retention rates.
Let’s look at our picks for top SaaS billing software in detail.
1. Chargify
Image via Chargify
This is a SaaS billing software solution designed for B2B subscription businesses. It’s one of the most flexible subscription management software that offers different billing models.
This way, you can customize your billing plans based on your customer needs and explore every avenue possible to collect revenue.
With Chargify, you get to try freemium models or limited free trials on your customers to reduce churn and win more subscribers. And if that isn’t optimal, you can switch to a tiered plan and set your billing cycles to monthly, annually, etc. Or try a usage-based plan.
In short, you get to experiment with different billing plans to find what works best with your business model.
Chargify also manages your customer journey from acquisition to retention. This helps personalize your communication with customers.
Your email marketing integrations, for instance, can send more personalized reminders to your customers based on this information.
You can also adjust your billing plans to incorporate promotions, coupons, or limited-time offers to your customers.
This SaaS billing software solution provides tax compliance services by region. With its reporting capabilities, you can make data-driven decisions. Here are the key Chargify features, that make it one of the best SaaS billing software.
Key Features
- Customizable billing plans
- Automated email communications
- Customizable email templates
- Revenue alerts to keep track of conversions
- Multidimensional billing options
- Offer and promotion management
- IFRS compliant revenue reporting
Pros
- Allows third-party integrations
- Detailed analytics
Cons
- The Essential plan has restrictions on the number of team members
- Expensive plans
Usability
- Easy to use
Tool Level
- Intermediate to advanced
Pricing
- Essential: $599/month
- Standard: $1,499/month
- Specialized: $3,499/month
- Custom: Custom pricing
2. Paddle
Image via Paddle
Paddle SaaS billing software is an all-inclusive payment solution for subscription-based software companies. It supports all functions during revenue collection including checkout, invoicing, subscription management, and tax compliance.
Their tax compliance feature is comprehensive and it stands out. Here’s why.
First, it’s global, so you’ll be up to date with tax regulation updates in other countries. This way you can turn your international prospects into subscription customers.
Due to it being an integrated function, all your subscription payments, revenue, and financials are automatically tax-compliant. It’s a built-in feature.
Paddle’s recurring billing solution automatically calculates prorated payments to reduce churn. It also has a function that pauses account subscription and allows customers to reactivate at later dates.
It doesn’t stop there. You can allow for several payment retry attempts during payment failures. This further reduces customer and revenue churns from canceled subscriptions.
What else makes it one of the best SaaS billing software?
Let’s find out.
Key Features
- Automated dunning management
- Real-time reporting and analytics
- Automated invoicing
- Global payments and tax compliance
- Customer support
- Integrated checkout functions
Pros
- Available customer support
- Comprehensive reporting and analytics
- An integrated tax compliance tool
Cons
- It may take some time to set up
- It’s slightly on the expensive side
Usability
- You may need technical support initially, to learn how to best use it
Tool Level
- Advanced
Pricing
- Quotation-based
3. Recurly
Image via Recurly
Recurly is one of the top SaaS billing software for all your subscription needs. It was strategically built to manage recurring revenue for every business ranging from startups to enterprises.
It’s a feature-rich SaaS billing software solution. One of its many capabilities includes the ability to make multiple subscription plans. From fixed, tiered, usage-based to hybrid plans.
This gives you the freedom to customize billing cycles to suit your customer base and maximize revenue collection. You can also run as many trials as you can with this tool to see what works best for your business model.
Want to encourage potential customers to subscribe, or upsell to the existing ones? With Recurly, you can alter your subscription offers to include promotions and offers to appeal to more subscribers.
Your global customers will not feel left out as Recurly has multi-currency and global tax compliance capabilities.
This SaaS billing software solution collects and stores your customer data, giving your team just enough to enhance customer relations.
As a part of your customer retention strategy, you can use Recurly to automatically update card information. This way, you can reduce involuntary churn from failed online payments.
Here are some more features that make it one of the best SaaS billing software.
Key Features
- Subscription management
- Multiple customizable pricing models
- Invoicing and accounting
- Dunning management
- Intelligent subscription retention
- Global payment options
- Reporting analytics
- Global tax compliance
- Customized email templates
Pros
- Allows third-party integrations
- Detailed analytics
- Supports multiple billings
- Suitable for different business sizes
- Intelligent subscriber retention
Cons
- No built-in tax compliance tool
- Expensive for startups with limited financing
Usability
- Easy to use
Tool Level
- Intermediate
Pricing
- Core: $199/month billed annually
- Professional: Quotation based
- Elite: Quotation based
4. Chargebee
Image via Chargebee
Chargebee is the SaaS billing software your company needs at every stage of its growth. It’s a comprehensive subscription management tool suitable for both growing and established businesses.
For startups, this could be the SaaS billing software solution that differentiates your brand. Why? Because it grows with you.
They offer a free plan. And although limited to three users, the plan is dependable, especially in the early stages of your business. As you grow, you can always upgrade to their paid plans as your business scales up.
If you have an already established business, there are plans suited to your complex pricing models. Right from creating multiple billing options, to detailed reports and analytics.
You get to test different pricing plans including free plans, flat fees, hybrid, and usage-based plans. With their usage-based pricing, you can explore pricing based on units, volume, or tiers.
Chargebee allows for integration with accounting software and other payment gateways. This makes your revenue recognition and tracking easy. It also gives your subscribers a seamless experience during checkout.
Here are more features worth noting.
Key Features
- Usage-based billing
- Multiple subscription plans
- Self-service portal for subscribers
- Intelligent dunning management
- Tax compliance and accounting
- Revenue recognition and reconciliation
- Multiple payment methods and gateways
- Automated invoicing
- Quotation-based and prorated payments
- Seamless integration with checkout platforms like Braintree and Stripe and accounting software like Xero
- Reporting and analytics
Pros
- Suitable for both small and large businesses
- Built-in tax compliance tool
- Allows for seamless third-party integrations
- It’s affordable
- It has a free plan
- Tracks most important business metrics
Cons
- Customer does not choose their payment option
Usability
- Easy to use
Tool Level
- Intermediate to advanced
Pricing
- Launch: Free
- Rise: $249/month billed annually
- Scale: $549/ month billed annually
- Enterprise: Request a quotation
5. Billsby
Image via Billsby
This SaaS billing software solution is perfect for startups or small businesses in their early stages. If your business if you’re a growing brand and your pricing needs aren’t as complex yet, then this is the SaaS billing software solution for you.
Billsby lets you create different billing plans for your clients. What’s interesting is you can have hidden plans for specific customers that other customers can’t see.
It also allows you to make promotional additions to your billing plans.
There’s a self-service subscription portal on this SaaS billing software platform that lets your customers manage their accounts.
It’s one of the easy-to-use SaaS billing software that thrive in their simplicity. This is because with that you can try different plans easily and quickly pick the best ones.
This tool covers every essential function of subscription billing. Therefore, as a startup, you will not be missing out on much. It also allows tax compliance by providing seamless integration with tools like TaxJar.
Overall it’s one of the best SaaS billing software for new businesses.
Key Features
- Manage unlimited subscriptions
- Checkout and payments
- Dunning management and customer retention features
- Add-ons and allowances
- Sales tax and compliance
- Invoice and emails
- Reporting and insights
- Hidden plans for certain customers
Pros
- Allows third-party integrations with apps such as Zapier and Mailchimp
- It’s affordable
Cons
- Not suitable for enterprises with complex pricing models
Usability
- Easy to use
Tool Level
- Beginner
Pricing
- Core: $35/month plus 0.4% on monthly revenue above $15,000
- Custom: Price available on request
6. Zoho Subscriptions
Image via Zoho Subscriptions
Zoho Subscriptions is an end-to-end SaaS billing software solution for small and growing businesses. It manages most of your main subscription billing functions with ease.
Zoho Subscription’s analytical tool is one of the features that sets it apart from other SaaS billing software. The tool is detailed and tracks all your major subscription metrics such as monthly recurring revenue, and more.
Using these metrics you can make data-driven customer retention decisions and grow your revenue.
This SaaS billing software is easy to set up and you can also create your billing plans quickly and easily. It’s also easy to integrate with other platforms such as other tools from the Zoho products suite.
With the Zoho Subscriptions free plan, you can easily use the software solution and test its value before making financial commitments. This makes it more suitable for SaaS businesses with financial constraints.
Key Features
- Multiple pricing plans
- Automated dunning management
- Add-ons and coupons
- Self-service subscription portal
- Customizable email templates
- Business metrics reports
Pros
- Easy to navigate
- Detailed analytics
- Allows third-party integrations
- They have a free plan
Cons
- Not suitable for businesses with complex pricing models
Usability
- Easy to use
Tool Level
- Beginner to Intermediate
Pricing
- Free Plan: $0
- Basic: $49
- Standard: $99
- Professional: $249
- Enterprise: Custom pricing
7. Zuora
Image via Zuora
Zuora is a suitable SaaS billing software for all your monetization needs. Regardless of your business model, Zuora provides solutions for your recurring revenue. Whether your model is subscription-based, consumption-based, or hybrid.
With that, you’re free to explore every revenue stream you can and monetize it. Besides this, this SaaS billing software solution offers multidimensional billing plan options. This includes trying fixed billing cycles with tiered plans or user-based billing plans, or whatever works for your customers.
What’s more. Your subscribers can also switch between plans or change their recurring billing cycles on their end.
Besides, Zuora has a quotation tool where your sales team can come up with customized quotations based on client specifications.
You can scale your revenue collection with their invoicing feature, which helps you convert your subscriptions to cash. It also has automated dunning features to reduce churn.
Key Features
- Flexible pricing models
- Easy integration with Microsoft tools e.g Azure and Dynamics 365 Finance
- Allows subscribers to change their billing plan
- Customer acquisition and retention
- Accurate invoicing
- Automated dunning
- Real-time revenue recognition and reconciliation
Pros
- Available tools and resources to launch software
- Easy to set up
- Allows custom quotation-based plans for customers
Cons
- No pricing plans
Usability
- This is one of the advanced SaaS billing software that are not easy to use
Tool Level
- Advanced
Pricing
- Quotation-based
8. Braintree
Image via Braintree
This is a SaaS billing software solution that supports recurring revenue collection. It integrates a wide range of payment options to make your checkout process seamless, globally.
Some of its integrations include PayPal, credit and debit cards, and digital wallets like Apple Pay, Venmo, and Google Pay.
Braintree isn’t fully made for subscription billing unlike most other SaaS billing software discussed in this post. However, you can still manage your subscription billing with the extensive payment options it offers.
It’s especially suitable for SaaS businesses with a wide global reach. Dropbox and GitHub for instance, use Braintree to manage their recurring payments.
Which of its features helped it get on this list of top SaaS billing software?
Let’s find out.
Key Features
- Easy checkout
- Recurring billing
- Multiple payment options
- Simple dunning management
- Reporting and insights
- Data security
- Easy third party integrations
- Global reach
- Fraud detection and prevention
Pros
- Supports multiple payment options
- Scales global payment
- Its user interface is easy to navigate
Cons
- Not fully supportive of a subscription billing
- Does not provide tax compliance support
- Complex pricing model
Usability
- Easy to use
Tool Level
- Beginner
Pricing
- For cards and digital wallets, 2.59% + $0.49 per transaction. Plus an additional 1% for non USD transactions, and an additional 1% fee when the card is issued outside the US
- For Venmo (available in the US only), 3.49% + $0.49 per transaction
- ACH Direct debit, 0.75% per transaction with a $5 cap
- For additional features, you get custom based pricing depending on your pricing model
9. Stripe
Image via Stripe
Just like Braintree, this SaaS billing software solution mainly supports recurring payments but is not made specifically for subscription billing. However, Stripe lets you create more flexible pricing models.
It supports global checkout with its numerous payment gateways. With this, you can scale your business internationally without worrying about currency or payment.
Its subscription management capabilities are pretty basic, but essential nonetheless. Stripe supports functions such as automated invoicing, tax compliance, revenue recognition, and dunning management.
These are all essential for subscription billing. This means that if your pricing models aren’t sophisticated, it could be a good enough tool for all your payment needs.
You can also allow your sales team to issue negotiated price quotations which expands your revenue streams. This SaaS billing software also enables integration with ERP and accounting systems.
Some top global SaaS businesses like TaxJar and Zoom leverage Stripe for their recurring billing needs.
Key Features
- Automated revenue collection
- Multiple pricing plans
- Pro-rated and negotiated billing
- Automated email reminders
- Dunning tools
- Customer self-service portal
- Revenue reporting
- Seamless global payment
Pros
- Enables billing all around the world
- Allows flexible pricing models
Cons
- Less subscription billing features
Usability
- Easy to use
Tool Level
- Beginner to intermediate
Pricing
- Integrated: 2.9% + 30cents per successful card charge
- Customized: Based on the business
10. SaaSOptics
Image via SaaSOptics
SaaSOptics is a SaaS billing software solution built keeping B2B SaaS businesses in mind. Its subscription management features are comprehensive. They support revenue collection, recognition, reconciliation, and even tax compliance.
This SaaS billing software solution also tracks all your vital business metrics down to the details, providing you with all the reports you need. The invoicing on SaaSOptics is automated and invoicing information is accessible from a single dashboard.
All your customer records are also stored centrally, which makes it possible for other departments to access these records seamlessly. It allows integrations with CRM and accounting software to enable effective collaboration between teams in your business.
This SaaS billing software also supports global scaling with its multi-currency capabilities. Therefore, you can invoice your overseas customers in their currency, and eliminate inter boundary payment constraints.
What’s more, it updates changes in currency rates, ensuring accuracy in your accounting records at all times.
Here is a roundup of the features this software has to offer.
Key Features
- Automated revenue reporting
- IFRS and GAAP compliance
- Revenue recognition and reconciliation
- Tax compliance
- SaaS metrics reporting
- Multi-currency invoicing
- Expense recognition
Pros
- Easy integration with CRM software, accounting, and tax software
Cons
- No clear payment plan
Usability
- Easy to use
Tool Level
- Intermediate
Pricing
- Available on request
Frequently Asked Questions
1. What is SaaS billing software?
SaaS billing software is an automated tool for recurring revenue collection. It makes revenue collection easier by automating functions such as invoicing, billing, and client retention.
2. What is subscription billing?
Subscription billing is a payment strategy in which a company charges its customers on a periodic basis. They have payment plans that customers pick and commit to.
3. What is the advantage of subscription billing?
Some advantages of subscription billing include:
- Enables businesses to predict their future revenue
- Attracts more customers by offering more options
- Encourages upsells and cross-sells
- Allows you to offer a product on a trial basis to prove its value
4. How do SaaS businesses collect payments?
SaaS businesses use subscription billing or recurring billing to charge their clients for their software solutions. Through subscription billing software checkout capabilities, SaaS businesses can easily collect payments from their customers.
5. Which software is best for billing?
For SaaS businesses, some of the best subscription billing software are:
- Chargify
- Paddle
- Recurly
- Chargebee
- Billsby
- Zoho Subscriptions
- Zuora
- Braintree
- Stripe
- SaaSOptics
6. What are the key features of subscription billing platforms?
Here are some of the most important features you should consider when choosing a subscription billing platform for your SaaS business:
- Subscription management
- Pause and resume subscriptions
- Reports and analytics
- Automated invoicing
- Dunning management
- Customer interactions management
7. How do you build a subscription-based model?
First, you need to figure out which subscription service your SaaS business will offer. Then, come up with a pricing strategy and choose a suitable subscription management platform. After that, make your UI user-friendly to attract more customers.
8. What are the types of subscriptions?
Types of subscriptions include:
- Freemiums
- Pay-as-you-go subscriptions
- Fixed subscriptions
- Custom subscriptions
- Tiered subscriptions
9. How do you grow subscription revenue?
There are various ways your SaaS billing systems can grow your subscription revenue. These include:
- Encouraging upsells
- Providing add-ons
- Coupons and promotions
- Invoicing reminders
- Dunning management
10. How do you market a subscription business?
The various ways to market your subscription business include:
- Making offers and promotions
- Email and SMS marketing
- Using pop-up forms
- Using free trials to give users sneak peeks at your products
- Using social proof
Grow Your Subscription Revenue with the Right Software
The right SaaS billing software can set your subscription business up for success. And we’ve helped you narrow your choices down, so simply take your pick from our list of the best subscription billing software. Hopefully, you’ve identified a few or at least one subscription management platform that meets your requirements.
Your aim while picking out a billing software solution for your SaaS business should be to grow your customer base and reduce churn as much as possible. And for SaaS companies that are just startups, it’s better to choose a tool that is scalable.
This post has covered it all, from the tools with just the essentials to the more advanced, feature-rich ones. Good luck finding the best option for your business!