Software Solutions That Should Be in Your SaaS Subscription Business’ Fintech Stack

Companies following the subscription business model consult with different experts and they suggest a long list of fintech technologies that they must have to smoothen their financial business activities. No matter how established your enterprise is, you cannot blindly spend resources on your fintech stack.

It is important to enlist your priorities and then see which are the fintech software without which it will be impossible to run your business.

Why a Robust Fintech Stack

Many companies would have some kind of subscription management tools. Some subscribe to quite sophisticated technical tools and use only a few of the functionalities. When companies can still run businesses with this and that tool, then what is the dire need that would be so compelling to finally look for options to devise a fintech stack of robust tools?

Following are some of these reasons:

  • Customer churn reduction
  • Streamlined financial processes
  • A holistic automated business solution
  • Scope of business expansion
  • Margin to cater to international customers

The perks mentioned above are ensured when there is a robust fintech stack integrated with an automated subscription management system.

If so far, your efforts to establish a fintech stack have failed to help you bear the fruit of your labour, then SubscriptionFlow has put in the effort to enlist some reliable software solutions that can make you thrive in the competitive market of subscription businesses and earn more revenue.

Also Read: How Automated Recurring Invoicing Management Empowers Global Subscription Market

Subscription Billing & Invoicing Software

The most important software that is the base of every subscription business is the billing and invoicing software. The financial processes of the subscription business are not alone rather they are interlinked with many other business processes. Many subscription businesses are still operating without a dedicated subscription management tool.

The transaction is one of the most important financial activities that starts with invoicing and billing. Accurate invoicing also strengthen your customer relationships. When invoicing is accurate, customers pay recurring charges on time. When they pay timely, the flow of recurring revenue stream stays maintained.

Thereby, you need subscription billing & invoicing fintech software so that the alignment of revenue operations (RevOps) may not disturb and your business growth improves. SubscriptionFlow is a subscription management system that is capable of effectively managing billing and invoicing of subscriptions. You can call SubscriptionFlow experts to onboard this platform.

Payment Gateway Integrations

Today, the concept of online payments is incomplete without payment gateways. Payment gateways ensure the security of transactions because they encrypt the information shared by the customers. Especially when credit card information is shared, it is very important to keep this information secure.

For instance, Stripe and PayPal are the payment gateways that many subscription management software integrate. SubscriptionFlow also integrates these payment gateways that enable the business to cater to the requirements of customers beyond borders. Stripe is known for the customizability that it offers. And PayPal offers services for both personal and business uses. Payment gateway integration indeed adds to your fintech stack and helps in increasing the scope of your business.

Also Read: How Multiple Payment Gateways Integration In iOS And Android Changes The Game For Application Industry

Tax Software Integrations

Taxation is a complex process and it gets further complicated when it comes to the digital world. The online subscription management business market is itself evolving, let alone the tax jurisdictions. Every country has its own tax regulations. Even in the US, the rules change from state to state. Keeping abreast of the changing tax regulations is not possible manually.

And dedicating your resources to developing tax management software is not a viable option rather it is better to integrate tax management software. SubscriptionFlow offers its clients to integrate the subscription management system with Avalara. This integration will not only help you conserve your resources but also process invoices.

Also Read: How SubscriptionFlow And Avalara Offers You The Best Solution To Manage Recurring Billing

Accounting & ERP Platforms

When you are looking for automated software to manage the billing and payment side of your business, you need to understand that how crucial it is to choose the right fintech software. Consider the paradigm of the streaming services industry. The subscribers are dispersed across the world.

  • They know a different currency.
  • They have a difference of affordabilities.
  • They prefer different payment methods.
  • Above all, their choices can be different as well.

If a streaming service provider fails to consider these differences while catering for them, he can never expect to streamline his business activities and revenue growth. Accounting software integrations are needed to make numerous financial activities mistake-free.

SubscriptionFlow offers its customers integration with Xero and QuickBooks. This software performs many activities effectively and enables you to make insightful data-driven business decisions. Just like accounting software ERP platforms are dedicated to complex business operations. SMBs in the subscription business ecosystem need to integrate ERP with accounting software so that they get one business solution for varying needs.

Expense Management Software

Most of the software and integrations that we have discussed are for customer-centric financial dealings. However, a subscription-based enterprise has many internal business operations that need an automated system. One of these business operations is the management of expenses.  Every business has to bear expenses and when you are already living in the age of automation there is no need to manage your company expenses manually.

SubscriptionFlow integrated with QuickBooks comes out to be a robust expense tracking and cashflow management platform. QuickBooks is feasible to use for small as well as large companies. This integration can help businesses save a lot that they would otherwise need to hire so that expenses can be managed.

Also Read: Best Of The Business Solutions Available At SubscriptionFlow Marketplace

For a better future in the subscription business market, an integrated fintech stack is very important. However, your recurring billing software flexibility is also a prerequisite to integrating the fintech stack. SubscriptionFlow is recurring billing management software that can easily be integrated with various payment gateways, third-party financial applications and software. Call the SubscriptionFlow support team to onboard this platform and plan your fintech stack with their consultants.