Best Subscription/Recurring Billing Solution
The 2017 Judges Choice Award for Best Subscription/Recurring Billing Solution goes to Avangate. The 11-year-old company recently acquired online payment provider 2Checkout and will assume that company’s branding going forward.
Avangate’s subscription management solution is embedded in its overall digital commerce solution. According to the company, its customers benefit from a rich set of features that let them transact at every customer touchpoint, introduce new business models such as subscriptions, and reach their target audience globally—all in one seamless solution with rapid setup and cloud scalability.
Avangate says its solution helps clients to sell more subscriptions globally, maximize customer lifetime value, accelerate time to market and leverage new distribution channels. The company gives its clients visibility and control over every stage of the customer lifecycle.
In addition, Avangate points out that it makes available powerful tools to:
- Convert trial users to paying customers and steer basic users toward more advanced services.
- Schedule automated notices for renewals and dunning.
- Enable single-click in-app purchases for renewals and upgrades.
- Give CSRs the ability to reward loyalty with discounts and special upgrade offers.
- Charge customers for only the services used.
Avangate’s reporting and analytics features help customers manage their subscription business with out-of-the-box reporting for monthly recurring revenue, renewals and expirations, renewal forecast, trial conversion rates, and cohorts. Clients get instant access to audit logs and the most important metrics, including active customers and subscriptions, trials, and cancellations. They can also use the custom engine to construct and schedule micro- and macro-level reporting for every aspect of their business, customer base, and market, Avangate says.
The company notes that it also provides recurring-revenue based businesses with a comprehensive suite of revenue recovery tools, for both voluntary and involuntary churn, as well as the expertise and guidance to tailor and fine-tune their strategy to achieve industry-high revenue loss prevention and revenue recapture rates.