How to Choose the Best B2B SaaS Billing Software

Financing
Feb 20, 2023 · by Alisher Akbarov
How to Choose the Best B2B SaaS Billing Software

With a wide range of subscription billing platforms available today for SaaS providers, finding the ideal one can feel like an uphill battle. To simplify this process, we have compiled a step-by-step guide to help you choose the right billing software that flawlessly aligns with your specific needs.

img not found

Freebie

5-Step Guide on Revenue Growth for Bootstrapped & Seed Stage Startups in 2023

Step 1: Define Your Billing Software Requirements 

Before you start looking for options, take some time to think about your current and future billing requirements. Consider factors such as international payment processing, the number of contracts you expect to close each month, and the types of payment methods you need to support. This will give you a clear idea of the features you need in the billing solution.

To get a better understanding of your requirements, consider asking yourself the following questions:

  • Will I be processing international payments?
  • How many contracts do I expect to close each month?
  • What types of payment methods do I need to support?
  • What is my current billing process and what changes do I anticipate in the future?
  • What are my priorities in terms of security, automation, and ease of use?
  • What is my budget for a billing software solution?

Step 2: Evaluate Your Options

Once you have defined your requirements, your next step should be comparing billing providers against the following attributes:

Infographic: 
6 qualities of billing systems:
1. Analytics and Reports
2. Multy-country and current support
3. Customer support
4. Payment flexibility 
5. Compatibility
6. Cost

 Here are 6 main attributes that you need to look at:

1. Cost

Software cost is a critical factor to consider when choosing a billing platform, especially when you offer a recurring subscription service. 

Consider the monthly or annual subscription fees, commissions per transaction, setup cost, and any hidden fees that may not be immediately obvious. It’s important to understand all of the costs associated with the software, both upfront and ongoing, to ensure that it fits within your budget.

For example, Billsby charges $35/month with no transactional fees, while Stripe has a pay-as-you-go pricing: 2,9%+30c per successful card charge.

Screenshot of the pricing page of Billsby billing software website. Main text: The best value subscription billing software now has no limits. Core plan and Custom plan.

2. Multi-country and currency support

Nowadays, many SaaS payment solutions operate around the world, however, some may be restricted to processing payments made in specific regions or countries.

If your SaaS business has customers worldwide or you are planning to expand internationally, it’s crucial to know where a potential billing software is licensed to operate, and if it supports multi-currency payments.

Today we suggest checking out an interesting option: Braintree, a PayPal solution, that allows you to receive payments from around the world. 

Screenshot of Braintree billing software webpage. Why Braintree. Take your business further: 
Access 250+million active PAyPAl accounts in 200+ markets
130+ currencies
45+ countries/regions

3. Compatibility

Make sure the billing software can easily be integrated with other systems you use, such as your CRM, payment system, or accounting software. This will help streamline your processes and minimize manual data entry errors.

While some billing providers have their API documentation publically available on their website, like Chargify, others may provide you one only after the sign up. Therefore, if possible, you should have your developer team check the API and determine if it is compatible before deciding on a billing system.

Screenshot of Jotform blog webpage. Announcing Chargify billing software integration: a new way to collect recurring payments

4. Customer support

Customer support is a non-negotiable feature, especially if you are in the B2B SaaS space where any hiccups or technical difficulties can cost you a client. 

For that reason, we recommend choosing a billing software that offers top-notch support, whether through a call center, email, or live chat, so you can get the help you need, quickly.

Recurly, for example, provides excellent customer service via a ticketing system, which they promise to resolve as quick as possible. They also provide detailed documentation on every topic, so you can find your answers on the go. 

Screenshot of Recurly billing software Customer service webpage. How can we help you? Buttons: 
Talk to sales
Get support
Become a partner

5. Analytics & Reports

Knowing your data is critical to gain valuable insights into how your product is used and how your business operates. You need an analytics feature that should display key metrics, such as revenue, expenses, profit margins, and customer behavior, and identify trends and patterns in your billing data. This allows you to make data-driven decisions on pricing, product offerings, and marketing strategies, and ultimately improve your overall business operations.

Chargebee, for example, has various powerful tools so you can track your real-time analytics. See examples in the image below.

Screenshot of Chargebee biling software statistics example with data and graphs of Total Billing and New Billing

6. Payment Flexibility

During the current unpredictable market conditions in the B2B SaaS space, offering flexible payment options can help you attract more prospects and increase your sales velocity, helping you close deals faster. 

According to CNBC and PYMNTS, BNPL (Buy Now Pay Later) financing can provide an attractive alternative to traditional payment methods, such as upfront payments or monthly billing.

B2B SaaS BNPL loans allow your customers to sign up for annual contracts, but pay monthly, giving them flexibility and a preserved runway, while increasing your ARR, since the BNPL provider pays you upfront. 

Consider Comfi, if you want to offer payment flexibility to your B2B customers. 

Offer Flexibility With Comfi

Infographics of Comfi billing benefits:
You need more ARR to fund growth, but your customers want to pay monthly.
Comfi for vendors:
Boosted revenue
Higher retention
Customers love you for experience
Comfi for customers:
Secured runway
Yearly discounts
Zero interest

What Is Comfi?

Comfi is a buy now pay later technology that helps B2B SaaS vendors close more annual contracts with less effort by offering their end-customers payment flexibility, while they themselves get paid upfront. 

In other words, it allows your customers to sign up for annual subscription plans, but pay monthly in installments. You get paid upfront by Comfi and take zero risk on the financing part. 

How Much Does It Cost To Use? 

There are no platform fees involved when integrating Comfi to your SaaS business. Pricing is applied to every transaction made through Comfi, and calculated based on your industry and annual sales volumes. This includes all payment gateway charges without any hidden fees.

How Do I Integrate It Into My Sales Process?

Comfi has 2 integration methods:

1. Generate Payment Link: A user-friendly dashboard that allows you to generate payment links and send them to your customers without writing any code. We can set it up in a couple of hours.

2. Payment Option At Checkout: If you have a self-serve checkout on your website you can embed Comfi as payment option and your customers will always have an option to pay flexibly.

Step 3: Make Your Choice

So, which billing system is the best for your SaaS business? It depends on your product, strategy, and the current and future needs of your business. While there are many billing providers available in the market, you can use our techniques to choose the right one for your  business.

Are you ready to take the next step? Take it with Comfi today!

Let’s talk your revenue together
img not found img not found

Amal Abdullaev

Co-founder at Comfi

img not found

The Ultimate SaaS Conferences Calendar!

Attending offline events is a valuable opportunity for startup founders to network, learn, gain exposure, and find inspiration, so register for an event near you today!
Alisher Akbarov

Alisher Akbarov

Co-founder, COO

Share it
facebooklinkedintwitter



























Join our community of 2000+ revenue nerds

Stay updated on the latest industry trends, exclusive insights, and expert tips on maximizing revenue.

We care about your data in our privacy policy