7 Best Subscription Management Software for SaaS to use in 2024

Subscription management software for SaaS is a necessity for your business. It enables you to bill your customers at a specific fee through different payment options on a recurring basis. It manages your subscribers’ transactions and billing cycles.

The subscription management software for SaaS helps you to get a consistent revenue and also predict the recurring revenue on a monthly or annual basis.

It reduces churn and recovers fees from declined payments (Dunning process management).

With the numerous subscription management software for SaaS available on the internet, picking the right one for your business can be a nightmare.

But you don’t have to worry, we have done the work for you.

In this article, you will learn about seven (7) subscription management software for SaaS you can choose from.

Understanding the ins and outs of how subscription models work is crucial for SaaS businesses looking to streamline their services. By diving deep into the benefits, types, and metrics essential for success, companies can better strategize their subscription services to ensure customer satisfaction and predictable revenue streams.

This knowledge is foundational before choosing any subscription management software

Let’s get started.

Stripe Billing is one of the easiest SaaS subscription management software and one of the cheaper to start with. There is no monthly payment and you can control everything from the dashboard.

Stripe is often regarded as one of the best subscription software solutions because of its advanced features, reliability, and ease of use. Here are some reasons why:

1. Easy setup: Stripe offers a simple and straightforward setup process that can be completed in minutes. You don’t need to be a tech expert to set up and manage a Stripe subscription.
2. Flexible payment options: Stripe supports a wide range of payment methods, including credit/debit cards, Apple Pay, Google Pay, and more. This flexibility allows businesses to cater to their customers’ payment preferences, which can improve customer satisfaction.
3. Advanced security: Stripe uses advanced security measures to protect customers’ payment information. This includes encryption, two-factor authentication, and fraud detection.
4. Automatic billing and invoicing: Stripe automates the billing and invoicing process, making it easy for businesses to manage subscriptions and keep track of payments.
5. Integration: Stripe integrates with a variety of other software and platforms, such as CRM tools, customer support tools (such as Customerly, Intercom, or alternatives), accounting software, and eCommerce platforms. This makes it easy for businesses to manage their subscriptions and payments from a central location.
6. Analytics and reporting: Stripe offers advanced analytics and reporting tools that help businesses track key metrics like churn rate, revenue, and customer demographics. This information can help businesses make data-driven decisions and optimize their subscription offerings.

Overall, Stripe’s combination of ease of use, flexibility, security, and advanced features make it a top choice for businesses looking to manage their subscription-based services.

Pricing:

Stripe billing has two plans – Starter – 0.5% on recurring payments, Scale – 0.8% on recurring payments, and one-time invoice payments.

Pabbly is a SaaS subscription management software with an affiliate management system. Pabbly helps you to automate your subscription life cycle processes. One good thing about this subscription management software for SaaS is that it is affordable for both small, medium and large SaaS businesses.

Features:

• Sales analytics reports
• Integrations with third-party apps
• No transaction fee
• Unlimited and branded invoice creation
• Customer portal
• Recurring & One-time payments

Pros:

• Send automatic email reminders on failed payments to recover sales
• Create branded and unlimited invoices for customers
• Supports 25+ currencies and no transaction fees
• Customer self-service through the integrated customer portal
• Create coupons and discounts to attract customers

Cons:

• Payment analytics has limited features

Pricing:

Pabbly subscription management software has three plans – Starter – $6/month, Rookie – $24/month and the Pro – $49/month.

Chargebee is a popular subscription management software for SaaS you can use for your business. With Chargebee, it is easy to manage your subscriptions, daily billing operations, apply coupons and everything involved in the proration system.

Features:

• Subscription management
• Recurring billing
• Built-in coupon system
• Add on Customizations
• Prorated billing

Pros:

• Create different subscription plans and manage them from a single dashboard
• Built-in prorated billing to take care of switched plans
• Create trials profitable for your business
• Run profitable marketing campaigns with coupons
• Availability of Self-service options in customer portals

Cons:

• Discounting is difficult because of restrictions
• It is difficult to set up and configure

Pricing:

Chargebee subscription management software for SaaS has two plans – Rise – $299/ month and the scale – $599/month. There is a free plan for new businesses.

FastSpring is an easy-to-use subscription management software for SaaS that enables subscriptions and payments for many digital businesses all over the world. It is specially designed for SaaS businesses. The agile, transparent and customizable subscription management software for SaaS is scalable, expanding as your business grows. It has all the functionality you need to run your subscription in one place.

Features:

• Dunning management
• Automated Messages
• Pricing options
• Special promotions

Pros:

• Send automated electronic invoices, account summaries, invoices, and other correspondence to your customers.
• Send automated reminder notifications about past-due accounts to concerned customers.
• Create different pricing levels for your customers
• Set up special promotions, flash sales, etc.

Cons:

• You need technical skills to get the software up and running
• Customer link failure

Pricing:

FastSpring subscription management software has three plans – Pay as you grow, business and the enterprise – custom price

 

Paddle is the perfect subscription management software for SaaS businesses looking to sell their products or services. Paddle combines checkout, subscriptions, taxes, licensing and insights in one intuitive platform. You have the opportunity to decide and experiment with your pricing, promotions, and layouts.

Features:

• 19+ payment options
• Customized checkout
• Taxes and VAT
• Fraud protection
• Developer tools such as API and JS Library

Pros:

• Availability of payment methods that enables you to sell without merchant accounts
• Manage and track subscriptions on a daily basis
• Customize your checkout to suit your brand feel and design
• Robust metrics that enable you to stay on top of user engagement
• Ability to accept payment from around the world

Cons:

• It is expensive
• No website validation process

Pricing:

Paddle subscription management software for SaaS pricing is from 5% + $0.50 per sale. They also have scaled pricing.

Maxio is a popular subscription management software for SaaS. It is used by thousands of SaaS businesses to manage subscriptions that bring billions in revenue every year. It eliminates billing issues and makes recurring billing easy, faster and flexible to grow. The Maxio subscription management software for SaaS was designed for recurring billing, subscription management, and revenue retention. Its super feature, elastic billing, helps you to personalize billing as you want. You can use different options, such as setting up one-time fees or recurring fees.

Features:

• Subscription management
• Recurring billing
• Analytics & Insight
• Integrations with third-party apps
• Revenue retention

Pros:

• Ability to create PCI-compliant billing plans with different pricing and customization options.
• The analytics and insight tools provide an easy overview of revenue trends, churn reports, etc.
• Intuitive and simple interface for reporting
• A seamless way to navigate, switch products and add new subscriptions
• Integrations with thousands of third-party applications

Cons:

• No pricing page
• Limited analytics

Pricing:

Maxio subscription management software for SaaS has two plans – the core plan and the enhanced plan. Get in touch with Maxio for pricing details.

SaaSOPTICS is the last subscription management software for SaaS on the list. It is specifically designed for B2B SaaS business. It is scalable i.e. it grows with you as your business grows. The subscription management software for SaaS helps you to streamline your subscription processes and provide robust metrics and analytics that will enable you to understand your customers and business more.

Features

• Order and renewal management
• automated subscription billing & payments
• Detailed Subscription metrics & Analytics
• Integrations with third-party tools
• Flexible subscription billing and invoicing

Pros:

• Robust subscription metrics and analytics that shows you customer lifetime value, cohorts, cash projections, etc
• Track and manage from order to cash to renewal process in one platform
• Integrates with key third-party apps
• Create fully customizable invoice themes with the click to pay
• It saves you tremendous time in tracking deferred revenue

Cons:

• It is difficult to configure
• Limited customizations in the look and feel of the software

Pricing:

SaaSOPTICS subscription management software for SaaS pricing is based on your trailing 12 months’ revenue which is billed upfront annually. Check out their pricing page for more information.

Conclusion:

There you have it — the 7 best subscription management software for SaaS.  You can now go ahead to make your choice.