Recurring billing is a must for any subscription based business.
Most businesses follow a similar pattern. In the initial stages, all processes are handled manually using spreadsheets. When the flow of customers gets bigger as they grow, owners start building supporting “crutches” partly from in-house development, partly from solutions with limited functionality. But over time this becomes insufficient, staff grows, as does the time required for simple billing. Not to mention deep analytics and experimentation with proposals, for which there is neither time nor resources. Finally, you dare to make a decision that will change the way you run your business forever – choose a billing system.
Recognize yourself? Then this article is definitely for you!
And if you’re a GenZ and are taking the easy way out while still in the beginning stages, congratulations on your wise choice!
In the bustling world of subscription-based business, the choice of billing system can have a major impact on operations, customer satisfaction and revenue management. With a myriad of options available, it is critical to evaluate and compare the features, functionality and suitability of different billing systems to meet the specific needs of your particular business.
So, let’s get down to evaluating the top four billing systems on the market, shall we?
Rainex is a billing system that is relatively young but has already proven itself in the market. It combines the experience of previous generations of billing systems with a passion for innovation and cutting-edge technology. Rainex offers comprehensive features to manage the subscription lifecycle, including subscriber engagement, billing automation and churn reduction strategies. Rainex’s functionality goes beyond basic features to include additional business growth tools, such as a customer subscription self-management space.
Stripe is one of the world’s largest payment processing platforms, trusted by their customers for many years. In addition to gateway features, for a fee, Stripe offers billing and subscription management tools for its users. Its intuitive interface and extensive documentation make it a favorite among developers and companies of different sizes.
Recurly specializes in subscription billing management, catering to businesses with recurring revenue models. The platform is an all-in-one solution with flexible pricing shaped by the feature set you need. Extensive support for subscription modifications makes Recurly a sought-after choice for businesses with complex billing requirements.
Chargebee is another major platform for optimizing payment experiences. The company specializes in broad support for subscription monetization strategies, including tiered pricing, metered billing, and addon management. Chargebee’s focus on subscription lifecycle management coupled with robust integration and APIs makes it the preferred choice for companies scaling their subscription offerings.
So, no lengthy abstract texts in this article, just dry facts that will help you determine the best solution for you.
Basic characteristics
Parameter | Rainex | Stripe | Recurly | Chargebee |
Ease of Use | Intuitive interface, AI onboarding | User-friendly interface, extensive documentation | Slightly complex interface | Relatively simple interface, standard onboarding |
Billing Models Supported | Fixed recurring model; Per quantity model; One-time charge model; Freemium model | Fixed recurring model; One-time charge model; Usage-based (metered) model; Tiered pricing | Fixed recurring model; Per quantity model; One-time charge model; Metered model | Fixed recurring model; Per quantity model; Metered model |
Scalability | Easy-to-scale platform | Flexibly scalable | Scalability is directly related to the cost of your subscription | Scalability is directly related to the cost of your subscription |
Customization | Highly customizable | Customizable | Partially customizable | Partially customizable |
Customer Support | 24/7 live chat via account or website, email support | 24/7 live chat via account | Ticket creation system | Email support |
Cost & Pricing Structure | Free plan $0 Professional plan $99 | Pay-as-you-go pricing. The cost varies depending on the number of transactions and the set of features used | Starter $0 Professional and Elite plans do not have a set price, it is negotiated directly at the demo | Starter $0 Performance $599 Enterprise – price is not set |
Key Features and Characteristics
From a billing standpoint:
Parameter | Rainex | Stripe | Recurly | Chargebee |
Integration | API | API | API | API |
Payment Gateways | 4 gateways (incl. Stripe and PayPal) | Is a gateway | 20 gateways (incl. Adyen, Braintree, Cybersource, First Data, Stripe) | 20+ gateways |
Currencies | 135+ | 135+ | 135+ | 100+ |
Smart Payment Routing | Yes | No | Yes | Yes |
Payment Methods Supported | Cards; Link; QR code; Bank debits and transfers (ACH) | Cards and wallets; Link; Bank debits and transfers; Additional payment methods (SEPA, P24); Buy Now Pay Later | Cards and wallets; Bank debits and transfers | Cards and wallets; Bank debits and transfers |
Autopayment | Yes | Yes | Yes | Yes |
Recurring Billing Automation (invoicing, subscription renewals, payment retries, and handling failed payments) | Yes, included in the Free and Professional plans | Yes, additional fee for each feature | Automatic invoicing is included in the Starter plan. However, the price of the other features in the paid plans is not specified | Yes, included in the Starter and Performance plans |
Tax Handling | Yes, included | Yes, for an additional fee | Yes, for an additional fee | Yes, included |
Dunning Management | Yes, included | Yes, for an additional fee | Yes, for an additional fee | Yes, included |
Credit notes | Yes, included | Yes, for an additional fee | No | Yes, included |
Refunds | Yes, included | Yes, for an additional fee | Yes, for an additional fee | Yes, included |
From a subscription management perspective:
Parameter | Rainex | Stripe | Recurly | Chargebee |
Subscription Management (creation, modification, cancellation, and upgrades/ downgrades) | Yes, included | Yes, for an additional fee | Yes, included | Yes, included |
Upsale and Cross-sale Opportunities | Yes, included | Yes, included | Yes, included | Yes, included |
Trial and Discount Management | Yes, included | Yes, included | Yes, included | Yes, included |
Notifications/ automatic customer emails | Yes, included | Yes, included | Yes, included | Yes, included |
Localization / multilinguality | Yes, included for all customer touchpoints: emails, invoices, Portal | Yes, for Checkout and Payment Links | Yes, for customer emails | Yes, for all customer touchpoints |
Branding, Multi-Brand Support | Yes, included | Branding is included Multi-Brand Support is for an additional fee | Branding is included Multi-Brand Support is for an additional fee | Branding is included Multi-Brand Support is for an additional fee |
Data Migration and Backup | Yes, included | Yes, included | Yes, included | Yes, included |
Reporting & Analytics | Yes, included | Yes, for an additional fee | Yes, included | Yes, included |
Advanced Features
Rainex
The Rainex Customer Portal opens up self-service subscription options for your customers, including plan upgrades, purchasing recurring and one-time services or products, paying invoices, and managing billing information. The fully customizable and brandable space ensures efficient customer support and engagement.
GetLeads is a unique tool to optimize your search for the most relevant leads and optimize customer interactions through the use of Artificial Intelligence. Streamline and automate the initial customer communication through LinkedIn, email, and ad campaigns and focus on closing deals and improving your product.
The Rainex Affiliate program allows you to earn 20% commission for each referral. Use the advantages of the system not only for establishing your own business processes, but also for passive income.
Stripe
Stripe Atlas is a fast and reliable U.S. incorporation option for companies in the startup phase. The care of documentation, customer support and years of experience of Stripe make entering the market many times less complicated than it could be.
Capital is another feature of Stripe through which the company supports start-up businesses. Stripe issues loans that are repaid with a fixed percentage of daily sales until the total amount is paid off.
The Data Pipeline feature allows data from a Stripe account to be synchronized with any of the company’s current data warehouse. This consolidation improves insights, and the absence of a third party minimizes security risks.
Recurly
Revenue recognition provides easy compliance with global reporting standards specifically for subscription model businesses. So companies stay compliant, reduce the risk of audits and fines, and can improve the accuracy of recurring revenue forecasts.
Recurly App management combines subscription metrics across Apple App Store and Google Play through a simple, automated data sync. This feature improves operational efficiency by enabling cross-platform processes such as benefit payments and revenue recognition.
Gift subscriptions & cards unlocks additional opportunities to promote and build loyalty with both new and current customers. This word of mouth from satisfied customers is an effective way to increase signup rates.
Chargebee
In addition to billing and subscription management, Chargebee offers tools that maximize subscriber retention. This feature reduces cancellation statistics through personalization and brings back customers who have left through dynamic offers based on targeting parameters. The analytics data helps you take action and retain more customers.
Revenue recognition is also one of the points of concern that Chargebee helps manage. The system consolidates revenue data and calculates the revenue to be recognized within your settings.
One last piece of advice
To select the best billing solution, consider the specific needs and priorities of your business. Ultimately, the best billing system is one that not only addresses your current requirements but also adapts to future growth and changes. Evaluate factors such as transaction volume, billing process complexity, integration needs, budget constraints, and the level of customer support required. It’s also important to consider the system’s scalability to ensure it can accommodate your business’s growth.
Take advantage of free trials or demos to gain hands-on experience and involve key stakeholders in the decision-making process to ensure the chosen solution aligns with your business objectives.
Book a demo with Rainex to make sure it’s your right system to build a strong foundation for your billing processes.
