Subscription management software helps companies track all activities related to the sale of subscription-based products. While software as a service (SaaS) is the most popular subscription type, more and more companies provide digital and even physical products as a subscription model. This type of software can be used by most departments of a subscription-based business, the most important being sales, marketing, and accounting.
Products in this category are offered either as a software suite or as standalone solutions. Suites combine multiple products such as subscription billing software and subscription revenue management software. Standalone software delivers all features for subscription management in one integrated system. Subscription management software integrates with other solutions like e-commerce platforms, payment gateways, and accounting software.
To qualify for inclusion in the Subscription Management category, a product must:
- Define and manage subscription plans for software as well as digital and/or physical products
- Manage pricing for subscription packages, as well as discounts and special offers
- Allow users to create custom plans, bundles, and multi-year arrangements
- Track the sales and revenue generated by subscription products
- Manage renewals, cancelations, and any other changes to subscriptions
- Identify new sales opportunities such as upsell and cross sell
- Store customer information, including billing, contracts, and payments
- Accommodate automatic payments from a number of different payment methods
