Global technology company Zoho has unveiled Zoho Billing, an expanded version of its Zoho Subscriptions app.
The company’s press release indicates that the new configuration of the app is intended to provide brands that are in a state of growth with greater flexibility in their payment transactions. This solution of the firm will allow consumers to experiment with pricing strategies and quickly enter the market.
The company’s press release also indicates that the actively expanding practice of introducing subscription models by businesses of all sizes has provoked the emergence of various problems, including the management of periodic billing and tracking of new indicators. The subscription to Zoho was originally created as a kind of tool with which customers will be able to overcome the mentioned difficulties.
As companies become more flexible in their billing approaches and apply experimental methods in these aspects of activities, there is a growing need for a comprehensive billing solution that can become the foundation for supporting constantly changing strategies.
However, as firms become more flexible and experimental in their billing approaches, the need for a comprehensive billing solution capable of supporting ever-changing strategies has become apparent, the press release says.
Raju Vegesna, the chief evangelist of Zoho, says that such a trait as flexibility is of particular importance for financial platforms providing payment services. He also noted that many companies demonstrate a creative approach when forming their business models. However these firms, according to him, often face the problem of lack of flexibility in internal systems.
Raju Vegesna says that regardless of the type of business model, it should adapt to the specifics of a particular company’s activities, and not to the specifics of the specifics of the commercial space of activity as a whole.
The firm’s press release states that Zoho Billing offers a user-friendly interface with universal billing functions. Also, the advanced configuration of the app provides customers with subscription management capabilities, including trial version management, proportional billing, customer lifecycle management, retention, and return of revenue. As part of the use of Zoho Billing, businesses can take advantage of features such as consolidated billing, metered billing, and online payment collection.
Separately, the firm’s press release notes that for companies selling subscriptions to mobile apps through stores of relevant digital products, the new solution provides smooth integration and supports a single server interface for all sales channels.
Industry studies show that in the retail subscription environment, where a high level of competition is currently being recorded, the offer of flexible tariff plans is associated with the success of sellers. For example, in the United States, 97% of the most successful representatives of this industry offer consumers the opportunity to make changes to the tariff.
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