This article gives a detailed overview of The 10 Best SaaS Billing Software in 2023.
Subscription services are becoming the norm in the software industry and other sectors. However, formulating and managing complex subscriptions can be challenging, especially if you coordinate several plans.
Thankfully, you can simplify these complex processes using the best SaaS billing software. To maximize revenue, you need to convert free users into paying clients.
You can only do so if you understand the process customers go through to become subscribers to a product.
First, they have to select a plan and an appropriate payment method. After that, they need to provide their billing information.
Lastly, you need to store that billing information to manage it and charge these customers monthly. Okay, now that you understand the different steps of subscription billing, the next step is choosing the right SaaS billing software.
This process is straightforward if you understand your needs and what to look for in a billing program. We have reviewed the best SaaS billing software to ensure everything is clear.
The Best SaaS Billing Software
1. Recurly
This SaaS billing software offers several more features than your normal all-in-one SaaS billing application.
In order to use this program, you must have a merchant account and a payment gateway. What it means is that you can add Recurly on top of payment services like Braintree and Stripe.
The good thing about Recurly is that it offers better reporting, flexible billing models, and full-on subscription management.
So, if you plan to use tied pricing, a usage-based subscription, or a hybrid of these two, Recurly will empower you to manage billing for any of them. Its major drawback is the limited customization options.
Pricing Plans
- The lowest plan starts at $149 monthly, plus an additional 0.9% of revenue.
2. Chargebee
Chargebee is one of the best SaaS billing software solutions for recurring bills and SaaS subscriptions. Unfortunately, just like Recurly, Chargebee doesn’t offer merchant account management or payment gateway services.
So, you can only use it if you already have these services set up. However, it has several nice features to cater to SaaS businesses.
These impressive options include upselling, price experimentation, managing trials, revenue recognition, etc. With this in mind, Chargebee offers more than just the collection and organization of your subscriptions.
It simplifies how you test and optimize your SaaS billing plans.
You may like Chargebee because of the following:
- Flexibility when it comes to pricing experimentation
- Customization with an API or out-of-the-box setup
- Several customization options
Pricing Plans
- It offers a free plan for monthly revenue under $50,000.
- Its paid plans start at $249 monthly.
3. Maxio
Maxio is among the best SaaS billing software for B2B SaaS companies. Its event-based pricing model enables you to create integrated usage-based pricing plans that bill your customers for the events they like most.
To do so, you first identify the metrics that deliver the greatest value to your customers and then charge them.
The good thing about Maxio is that it streams customers’ data in real time, allowing you to charge for the most popular events.
This is a better way to manage usage-based pricing. It also allows you to communicate your product value with greater clarity.
And it is not just that; Maxio also speeds up growth and streamlines the process of removing bottlenecks in your system.
You will also like it because of its comprehensive feature list, which includes event-based billing, subscription management, billing scenarios, payment gateways, revenue retention and dunning, analytics and insights, and offer management.
Pricing Plans
- The Essential plan costs $599 monthly plus a 0.9% overage fee. The Standard plan charges $1,499 monthly, while the Specialized package costs $3,499 monthly.
- If you have unique needs, there is an option for customized pricing.
4. Stripe Billing
Stripe is one of the best SaaS billing software in 2023 because it offers more than just subscription management. It also works as a merchant account and a payment gateway.
On top of this, it has several analytic features. It is popular among many businesses because it is easy to use.
It could also be partly due to its usage-based pricing, which enables SaaS companies to generate payment plans.
Some of the features that make Stripe ideal for most businesses include:
- Simplified setup process
- Compatibility with several applications
- It offers an all-in-one solution.
- Offers a flexible pricing model that suits most SaaS companies
Pricing Plans
- Stripe doesn’t have a monthly fee. It charges 2.9% plus $0.30 per transaction. They may charge additional fees for some services, like fraud detection and instant payouts.
5. Zoho Subscriptions
Zoho Subscriptions is the best SaaS billing software for freelancers and small businesses. This system is cost-effective and covers the basic needs of a growing business.
What we loved the most about this billing software was the seamless subscription management and recurrent billing based on automated mechanisms.
It also offers customized pricing packages with coupons and optional add-ons. One of the most outstanding features of Zoho Subscriptions is the wide range of integration options.
Specifically, it can integrate with over 400 applications. Other notable features of Zoho Subscription include automatic payment reminders, multi-currency payment support, automated proration, 40+ SaaS metrics, and customizable billing plans.
Pricing Plans
- Zoho Subscription offers five pricing plans, including a free option.
- Paid plans start at $49 per organization per month. The Enterprise plan is customizable based on your needs.
6. Monite
Monite is one of the best AP automation programs. It helps fintech and Neobanks embed workflows like billing, invoicing, accounting, and expense management into the platform.
This API-centric system has revolutionized how we handle invoices, credit notes and quotes, payment processing, and purchase orders, thus enabling organizations to streamline their financial operations.
The top features of the Monite billing software include automated accounts receivable and accounts payable solutions.
Another likable feature is its on-demand pricing model. So businesses can only pay for what they use, enabling them to optimize their budgets and align expenses with their needs.
Pricing Plans
- Prices are customizable based on usage.
7. Zuora
Zoura is one of the loudest evangelists of the subscription economy. This SaaS billing software takes over where conventional ERP systems fail. Moreover, it is a product of SaaS industry veterans.
This billing platform is a top choice for thousands of businesses, including well-established brands like Siemens Healthineers, Honeywell, and Zoom.
Its fantastic features enable you to cultivate customer relationships, thus reducing churn. These top features include revenue management, subscription management, revenue forecasting, recurring billing payments, SDKs and API integration functions, and 50+ pricing models.
Pricing Plans
- Just like Monite and Paddle, Zoura offers customized pricing. If you want to take advantage of this on-demand pricing model, you can negotiate your needs with their sales team.
8. Paddle
Paddle is a one-stop revenue management platform tailored for SaaS businesses. It is the best SaaS billing software if you want to take advantage of all four stages of the software billing process.
These processes include:
- Checkout: It lets you collect payments from customers around the world.
- Subscription: It helps you optimize your monthly recurring revenue.
- Invoicing: The built-in invoicing capability allows you to follow up for prompt payments.
- Compliance: You don’t have to worry about data, payment, or tax compliance because Paddle handles these issues.
While cheaper options exist, Paddle’s comprehensive payment and subscription management tools save you time and the potential frustration associated with payment processing.
It has all the features you might need in billing software, including billing models, managed payments, SaaS subscription management, upgrades and downgrade management, invoicing, integrated checkout, and automated sales tax deductions.
Pricing Plans
- Paddle doesn’t disclose its pricing on its online platform. They customize it based on your unique needs.
9. Billsby
Billsby is not only the best SaaS billing software, but it is also a well-respected invoicing package for small SaaS companies.
It makes subscription management accessible for anyone, whether an entrepreneur with a big idea or a growing business rolling out a new product.
Actually, the platform offers all sorts of financial services, from billing to invoicing to advanced reporting. Another notable feature of Billsby is its generous free plans and reasonably priced models for growing and larger enterprises.
It is, therefore, suitable for new SaaS startups that need to scale up while keeping expenses to a minimum.
Pricing Plans
Billsby offers two pricing plans besides the free plan:
- The Core package costs $35/month. With this plan, you can collect up to $15,000 in monthly revenue. And they only charge 0.4% on additional amounts.
- The Custom plan offers on-demand pricing.
10. Fusebill
By now, you have a good idea of what to expect from the best SaaS billing software. While Fusebill isn’t reinventing the wheel, it offers a new approach to pricing.
As you may already know, most billing platforms charge a monthly fee and an overage fee, usually a percentage of revenue. Fusebill, on the other hand, offers a flat pricing model based on your revenue.
And the good news is that there are no overage charges. Other likable features of this SaaS billing platform are payment management, subscription management, recurring revenue recognition, performance insights, and tax compliance.
Surprisingly, all these features are available on all plans.
Pricing Plans
- Its Startup package costs $295 monthly, while the Rapid-Growth plan charges $895 monthly. This covers up to $1 million in yearly revenue.
Parting Thoughts
Accepting and managing recurring subscriptions is critical to the success of any subscription-based business. So, it is worth investing in the best SaaS billing software, even if you are starting.
The good thing is that affordable payment platforms like Stripe can cover most of your needs. However, Chargebee and Recurly are better options if you need additional features.
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