Now more than ever, SaaS companies are adopting payment facilitation for their software services. This means rather than selling a single unit, they are selling hosted software licenses on a monthly to yearly basis. These types of payment models can become quite complex as businesses acquire more customers and service options. As more companies move toward subscription-based pricing models, automated billing and subscription management have become more in-demand.
There are many solutions out there to automatically manage your payment system. With Amaryllis, you can do just that and more! Our fully customizable solution can transform your current payment system and reduce billing errors, while you focus on what’s really important – the customer. Read on to find out how our SaaS clients use the Amaryllis Platform to automate payments and billing.
Payment Facilitation
One of the most challenging parts of a subscription pricing strategy is ensuring customers remember to make their payments on time every month. Payment facilitation can ease this burden, it’s a mutually beneficial option for the consumer and the business. The consumer only needs to set up their payment details once and can enjoy the service without actively needing to make the effort of payment again. For businesses, this means you will receive a steady cash flow and more reliable forecasted revenue.
The Amaryllis Platform offers advanced billing management tools to ensure every payment is charged on time, every time. With our PCI-compliant billing platform, you can assure that your customers’ credit card information is handled in a safe and secure manner.
Monitoring & Alerts
It can be hard to monitor every transaction that goes through your system. If there are any mismatches between your platform and the processor, you’ll typically have to detect them on your own. That’s why you need a payment system that automates the merchant underwriting and onboarding process and keeps you in compliance with AML, KYC and the card network rules, so you can rest easy knowing everything is in compliance.
With the Amaryllis Platform, businesses can use our platform to monitor merchant accounts 24/7 and get notified (or your merchants…) in real-time whenever there is something really important that you should know. Simply tell the system what you want to measure, define the elements of measurement, and the payment facilitation platform will guarantee you get notified on time.
Monetize Complex Payments
Every SaaS company has unique elements of its business, so it’s important to have a payment system that can be customized to meet your business needs. The right solution will allow you to create your own custom rules so you can monitor any business or merchant activity.
The Amaryllis Platform offers all the customizable features your business may need. You can create rules that trigger off your business or merchant activity. The structure of a rule allows you to apply a certain level of data science into your business’s daily operations. Rules are easily assigned to the top-level organization, partner channels, sales regions, client groups, and more, if our clients have defined it, they can be implemented.
And not only that – why use only simple selection statements when you can implement complex decision criteria? You can define conditions, establish thresholds, set up intervals, and measure on statuses of specific events.
Automated Reconciliation
According to a survey by EY, up to 59% of a financial department’s resources are spent on managing transaction-intensive processes. And around 95% of this effort is wasted on transactions that already match, rather than problem entries that actually require attention.
(so you dont need to spend time and resources doing it yourself) The Amaryllis Platform can reconcile payments automatically, day-to-day with processor and bank partners. Our system will monitor and alert you for any exceptions or mismatches so you can rest easy at night knowing everything is in compliance. If a customer is charged twice, you’ll receive a message right away telling you that this customer got charged twice, the same amount, same shopping card. And within two minutes you can solve the problem. You can, even with our help, press a button and not charge the consumer the second charge, so it will never appear on the card. They will not even be aware that there was ever a problem.
Multi-Currency
As a SaaS company, your customers are all unique, come from different geographies, and pay in local currencies. This is why every SaaS company should eliminate the process of the customer converting the price into their native currency, and introduce familiarity at the very first touchpoint. It’s also important to have a payment system that accepts a wide variety of payment methods. This can help generate more revenue and increase customer retention. Being flexible can be particularly helpful in areas where your competitors have fewer options.
The Amaryllis Platform fully supports alternative payments, including PayPal, wallets, and locally preferred payment methods. Our currency pricing and conversion with Dynamic Currency Conversion (DCC) enables global commerce. Our platform can also work with different processors in different regions. If your business operations in different countries and your primary processor is down, we will provide a backup processor so you don’t lose customers.
Ready to automate payments and billing?
Transform your payment system and reduce billing errors with Amaryllis Payment Facilitation Platform. We can help scale your business and increase your business valuation by monetizing the payments flowing through your service with little or no in-house IT resources needed.