Many businesses find it hard to properly manage customer payment data—especially in recurring billing scenarios. (Thanks to stringent regulations!) But are you aware of the possible consequences of a credit or debit card payments data breach?

This story is solid proof: Target, a US retail giant, disclosed that hackers stole up to 40 million credit and debit cards from its 2013 holiday shoppers. Due to that, Target was penalized a total cost of $202 million.

What’s the moral here? Compliance in safeguarding sensitive financial information is no joke. Fortunately, recurring billing software addresses this head-on. Integrating them into your recurring billing processes is both efficiency and compliance.

In this blog post, we’ll explore 10 best-in-class recurring billing software solutions that can help you revolutionize your subscription business while staying compliant.

What is a recurring billing software?

Customer of a subscription business doing an online transaction

First, let’s define recurring billing software. Also called auto billing software, this is a tool for successful subscription businesses that is predicted to grow in market share by up to $11 billion by 2028. The system handles all aspects of billing customers—be it monthly, annually, or based on usage. So ideally, a recurring billing system monetizes subscription offerings, secures recurring revenue, and delivers the seamless customer billing experience modern buyers expect.

Its core functionalities typically include:

  • managing customer subscriptions, including setting up flexible billing models with different pricing, terms, and billing cycles
  • automatically charging customers’ payment methods on a recurring schedule
  • storing and managing customer information, and payment details, as well as view their subscription status and payment history.
  • handling recurring charges through the built-in payment gateway and merchant account capabilities
  • recognizing recurring revenue following accounting standards and regulations

Key features to look for in recurring billing software

Leadership team talking about the different criteria for selecting software to ensure customers experience secure payments and transactions

If you’re leveraging the same subscription payment model, having recurring billing software totally makes sense. So, when evaluating them take time to consider the following key features:

Does it automate the billing processes?

Did you know automation can save organizations more than 70% of the time spent on accounts payable? Rid yourself of billing busy work with a platform that automatically charges customers’ payment methods based on your billing schedules. Look for software that offers automated invoicing, payment reminders, subscription renewals, and failed payment handling to streamline billing operations and improve cash flow management.

Does it support flexible billing options?

Whether you need flat-rate monthly subscriptions, annual plans, tiered pricing, usage-based billing, or whatever unique combo—your recurring payment software should make it easy for you and your subscribers. Choose a software solution that supports various billing models so you can customize pricing plans.

Does it integrate seamlessly with other tech stacks?

The right billing platform integrates seamlessly with your existing accounting, ERP, CRM, payment processor, gateways, and bank systems. Opt for a recurring billing solution that integrates with popular third-party tools to ensure smooth operations and accurate financial reporting.

Does it have ironclad security measures?

Your billing platform processes and stores sensitive payment data for all your customers. Don’t settle for anything less than a strong security system. Data breaches can be costly—estimated up to $875,000. So, prioritize recurring billing software that complies with industry standards like PCI DSS and offers encryption protocols to safeguard customer information, prevent data breaches, and ensure secure transactions. 

But here’s the thing—when choosing the best recurring billing software, you should also focus on scalability and customization.

Importance of scalability and customization when it comes to recurring billing software

A platform that can’t scale with your needs is a recipe for operational inefficiencies, billing errors, and customer satisfaction horror stories. Here’s what we mean:

Scalability and customization are two big things to look for when choosing a subscription billing platform. As your business grows, you’ll need a system that can handle more and more subscribers without any issues. A limited system that can’t scale will only hold you back from taking advantage of new opportunities.  

It’s also crucial that the billing platform can be customized to fit your unique business needs. Every company is different, so a one-size-fits-all solution just won’t cut it. Tailor the platform’s features to match your specific requirements. This allows you to create a billing experience that clicks with your customers and strengthens your brand loyalty

Flexibility in scaling up and customizing the system is key for driving sustainable revenue growth and increased profits from your recurring revenue model.

Top 10 recurring billing software solutions

Customer support team talking about which software to go with to manage recurring payments

1. Chargebee (best for high-growth subscription businesses)

Popularly known as one of the top-rated recurring billing platforms praised for its ease of use, robust features, and ability to streamline invoicing and recurring subscription payments more effectively. It’s a flexible solution for managing subscriptions that’s not overly complicated to integrate with various payment processors.

Pros:

  • Easy to use
  • Integrates with 29+ payment gateways
  • Very easy to apply for credits and see customers’ information

Cons:

  • has a bit of a learning curve for people outside their primary audience

Pricing: Free of charge for the first USD 250k of cumulative billing

2. Sage Intacct (best for subscription management with cloud accounting)

From accounting, revenue management, subscription management, and expense tracking to forecasting and predictions, Sage Intacct keeps all financial services at bay.

It automates recurring entries and speeds up data import with its built-in tiered pricing and usage-based subscription billing solutions. Sage Intacct helps businesses stay compliant by having audit trail capabilities and built-in compliance features that help businesses prepare for audits.

Pros:

  • excels in financial management (subscriptions, invoicing, accounting, and financial reporting)
  • based on cloud technology for users to manage financial tasks remotely 
  • has built-in compliance features

Cons:

  • Complicated to set up

Pricing: Request pricing from their sales representatives.

3. Zuora (best for businesses with a flexible mix of billing options)

Zuora is a recurring billing platform that offers several solutions to help businesses manage their subscription-based services—by any type of payment method and pricing (one-time charges and subscription, consumption).

By using Zuora Billing, businesses can automate their billing processes, streamline their workflows, and improve their accuracy and efficiency. Streamlining billing can help businesses save time and money, improve cash flow, and improve customer service.

Pros:

  • Flexible for different billing models
  • automate much of what is needed for subscription management
  • Accepts modern payment methods like Apple Pay, Google Pay, and Amazon Pay

Cons:

  • Can be complicated and difficult to figure out at first

Pricing: Talk to sales for more information.

4. Recurly (best for businesses using both automation and manual invoicing)

For simplifying the complexities of recurring bills, Recurly is a good recurring billing service invoice software. If you’re a B2B SaaS with free trials, you’ll even more appreciate it. The interface is simple and is much a beginner-friendly tool. All in all, it automates all recurring billing and invoicing processes while still allowing manual input when necessary.

Pros:

  • Automate your invoicing process by automatically creating, sending, and collecting invoices for subscriptions and charges.
  • Allows manual invoicing for accurate customer billing
  • Contains invoice templates that suit a wide range of business needs

Cons:

  • Not so ideal when it comes to revenue recognition.

Pricing: May start free for the first $40,000 per month for new customers in the first year.

5. Subskribe (best for SaaS businesses with changing pricing strategies)

Subskribe is an adaptive quote-to-revenue platform designed for modern SaaS companies with various pricing models & packaging strategies. It’s a unified solution for CPQ (Configure, Price, Quote), billing, and revenue recognition. This monthly billing software streamlines various aspects of business operations, enabling users to close deals faster, ensure accurate billing, and automate book-closing processes seamlessly.

Pros:

  • advanced features such as CPQ for creating complex quotes
  • offers advanced analytics tools to monitor key SaaS metrics like ARR classifications and cohort reporting
  • user-friendly interface

Cons:

  • Error messages are a little difficult to manage

Price: Please contact sales for a more accurate quote on custom pricing.

6. Vendasta (best for agencies rebranding and reselling online services)

Vendasta is an AI-powered platform for end-to-end selling of digital products. When managing recurring bills, Vendasta is best leveraged by agencies that charge one-time fees or recurring fees.

Additionally, the recurring billing system accepts all major debit and credit cards so clients can easily purchase your services.

Pros:

  • offers a complete solution for digital marketing agencies including CRM functionalities
  • marketplace with over 200 products and services that can be resold or packaged
  • marketing services enable users to outsource fulfillment when necessary, enhancing operational efficiency

Cons:

  • no availability of a mobile app

Pricing: Starter pack costs $79/mo.

7. Stax Bill (formerly Fusebill) (best for businesses of varying sizes and financial capabilities)

First, Staxbill is super easy to use and customizable to suit your billing needs. Using it makes finding and analyzing a customer’s payments easy. The tool is a cloud-based solution for simplifying financial operations and managing subscriptions effectively. With pricing plans catering to businesses at different growth stages, Stax Bill aims to provide flexibility, scalability, and automation to optimize revenue operations.

Pros:

  • Easy to use
  • Has a wide range of features that cover invoicing, billing management, and revenue optimization
  • With different pricing tiers tailored to businesses of varying sizes

Cons:

  • Test environments are relatively slow

Pricing: Available in three plans (starter, growth, enterprise) which start at $199/month, billed annually.

8. ChargeOver (best for businesses that need an easy-to-setup recurring billing solution)

If you’re looking for an easy-to-use and easy-to-understand recurring billing software, ChargeOver is a solid choice. Despite being a feature-rich software, finding anything associated with automated billing cycles within the platform is still easy. It also automates late notices to clients and makes it easy for them to update their payment info when needed.

Pros:

  • easy to navigate due to intuitive design
  • offers a range of features such as automated email reminders, self-service customer portals, and customizable reporting
  • syncs with QuickBooks Online

Cons:

  • Some updates weren’t clearly communicated before they occurred

Pricing: Starting at $115/month for under 100 customers.

9. OneBill (best for businesses with complex billing)

OneBill is a clean and convenient automatic payment software for your entire billing and monetization lifecycle. It’s a modern platform designed to address the complexities of modern payment provider monetization models, supporting both one-time and recurring billing structures. The software aims to streamline billing processes and enhance revenue management for businesses through its user-friendly interface and exceptional customer service.

Pros:

  • user-friendly interface
  • flexible in generating monthly invoices
  • high level of automation

Cons:

  • Customization can be a bit difficult. 

Pricing: Schedule a demo to see if OneBill is the right fit for you.

10. FastSpring (best for businesses bound to flat-rate pricing)

FastSpring is among the best recurring online payment systems and processing tools suited to the needs of businesses selling non-tangible goods. With nearly 20 years of experience, they have been around for long enough to be trusted. FastSpring charges a straightforward so customers know exactly how much they will be charged—without any hidden or variable fees based on usage.

Pros:

  • doesn’t charge additional fees for using specific features or functionalities within their platform
  • has global infrastructure
  • acts like a merchant of record

Cons:

  • limited customization options

Pricing: Please talk to sales for flat-rate pricing.

How to choose the right recurring billing software for your business

A team choosing between multiple options for software and tools

So, among the number of various recurring payment model and billing companies, which one offers the best recurring payment system? Let us guide you in choosing the ideal platform.

Factors to consider when selecting a billing software solution

  • First, identify your business’s unique requirements. Are you a solopreneur with a modest subscriber base, or a scaling enterprise managing a complex pricing structure? Different software offers solutions to different complexities.
  • Subscription billing software shouldn’t be a financial burden. Define your budget upfront and explore options that offer flexible pricing tiers aligned with your business size and transaction volume. 
  • Seamlessly integrating your existing business tools, like CRMs or accounting software, is an essential step. This ensures smooth data flow and eliminates manual work, saving you valuable time and resources.

Quick tips for evaluating and testing billing software options

  • Define your non-negotiable requirements upfront. Prioritize must-have features that directly impact your revenue streams and operational efficiencies.
  • Meticulously review security and compliance measures. Protecting sensitive data and adhering to regulations is an absolute must.
  • Explore the platform’s upgrade path. Ensure future enhancements align with your evolving needs.
  • Thoroughly test the user experience. Intuitive interfaces for both your team and customers are crucial for streamlining processes.
  • Conduct real-world scenario testing. Simulate your unique use cases to validate the software’s performance under realistic conditions.

Protect your recurring revenue operations with the right software

Image of a graph or chart showing stable revenue

If your business handles sensitive financial information, know that the risks of data breaches are on the rise. Yet, there’s a certain peace of mind that comes with knowing your recurring billing operations are in full compliance with industry regulations. And that’s all thanks to the best recurring billing software integrated with your system.

Looking for one? We’ve done the heavy lifting and given our top 10 recurring billing software solutions. But while these platforms excel at automating and even processing payments and streamlining the billing process, they’re not immune when it comes to mitigating involuntary churn caused by failed payment attempts.

Failed payment recovery specialists from Recover Payments can navigate the nuances and complexities that often arise during recurring transactions. Simplify the mechanics of recurring and failed payments, with a dedicated payment recovery team. Book a call with us to ensure maximum revenue capture today.