There are many different business models relying on revenue streams that come in on a monthly, quarterly or annual basis such as insurance companies, fitness facilities, cloud-based applications, internet service providers and content service providers to name but a few.
The availability of online recurring billing systems such as SnapBill, has allowed for growth-generation and can be used as a very powerful tool for these businesses.
SnapBill’s recurring billing system is rapidly replacing the traditional methods of billing in a cost-effective, current and smart solution and here are a few reasons how:
One very important discovery among sales people, is discovering that there is a tiny window for opportunity between when a potential customer will finalize a purchase and when they begin to start thinking twice about the decision and end up with cold-feet.
A quick way to throw your sale figures down the drain, is making a customer call into that dark place, the place that no one dares speak of… you know, 0800-CALL-CENTRE.
Making a customer dial in, navigate through an automated menu, sing-along to a song or two (or five) and then have to be placed on hold will nearly guarantee the chances of that customer thinking twice about buying right away.
SnapBill is able to integrate with your website and affords the customer the ability to make their purchase, sign-up to your subscription services online.
What does this mean for you as the SnapBill user?
A down-right elimination of “cold-feet” by eradicating the delay between making the purchase decision and the purchase finalization. This then has a direct effect on your profit margin as it also provides an opportunity for you to showcase your additional products or related-services that you may have to offer and creating an increased opportunity to up-sell.
Improving Customer Satisfaction.
When looking at how to sell, one really needs to “become the customer” and figure out the consumers psyche. One noticeable expectation from the average customer today is- if they are willing to give you their money, you need to be willing to make them your number one priority.
By incorporating SnapBill’s billing system, you can be assured that you are meeting this expectation.
SnapBill eliminates the inconvenience that a customer would have had to experience by having to call or email you to sign up for your services.
You basically provide your service to the customer so that it fits in with their schedule, how kind and considerate of you, isn’t it? Translated into business terms this results in LOYALTY.
The current generation of customers not only appreciate this kind of convenience provided by integrating with us, they expect it.
Many customers will re-consider giving their business to you and instead, seek out a competitor who is able to meet this expectation or convenience.
Providing this constant level of convenience leads you to highly satisfied customers and again- this results in LOYALTY.
Loyal customers are the heartbeat of any business who depends on recurring revenue.
One of the great reasons SnapBiller’s love our billing system is because of it’s ability to increase a businesses efficiency.
Destiny Life, an insurance brokerage, has managed to obtain maximum efficiency through the use of SnapBill, read their story below:
Destiny Life required an insurance billing system to simplify and validate the capture of customer data from all its offices and call centers.
Collaboration between offices, resellers and staff was key.
Customer data was required to be available to all Destiny Life insurance staff and access to sensitive information was to be restricted to certain individuals within the organisation.
Provision for the storage of all customer and data was to be made as well as the automation of the complete payment collection process via debit order batches set for processing on specific days of the month.
The calculation of reseller commissions is vital and SnapBill needed to store customer’s records with the required office and agent identifiers in order to simplify reseller commission tracking and reporting.
SnapBill provided a: Secure, customisable solution with modular permissions
Since SnapBill runs on the cloud it can be accessed from any web-enabled device, this made connecting Destiny Life’s offices and call centers a breeze as no initial capital outlay or infrastructure was required.
Destiny Life’s staff was given individual user accounts to access the SnapBill system, this allowed Destiny Life to control the staff members who could access information and enabled SnapBill to keep a full audit history of the actions performed by Destiny Life staff on the SnapBill system.
SnapBill securely stores all of Destiny Life’s data, this includes both bank account and credits cards. This data is stored in an encrypted manner and staff of Destiny Life only has access to non-sensitive information.
SnapBill ensures that Destiny Life as well as its customers are comprehensively protected in accordance with PCI compliance methods of banking information.
Custom fields are used to store values used by Destiny Life in order to facilitate the calculation of commission.
SnapBill’s multi-tier commission module was configured to generate a comprehensive, period based, reseller commission report that is updated in real-time based on actual debit order collections.”
Saving Costs on Resources
Keeping track of the billing history within any company is an integral part of ensuring that finances are on track.
In order to do this, and dependent on the size of the company, this may very well require quite a number of employees. With a company aiming for growth and sufficiently increasing their number of clients, the accounting functions will increase and will require an increase in staffing, thus causing a potential negative effect on payroll expenditure and in addition to providing additional resources to train and supervise new employees this can even create a need for extra office space for all the new staff members to work.
SnapBill’s cloud-based billing solution allows your business to manage a virtually limitless amount of clients without requiring any significant increase in staffing. This affords your business the ability to use more of it’s resources on things like developing and implementing future growth and product strategies, marketing and placing greater attention on customer service issues.
SnapBill affords it’s clients great freedom in increasing their current profit margins and future growth. Incorporating SnapBill’s online billing solution has not only become a great convenience to any business, but an essential part of remaining competitive within our the current marketplace.