Recurly has been providing subscription billing for businesses since early 2010. We now power recurring billing for over 825 companies worldwide, and we've learned a few important things along the way. Here is a quick recap of some important insights for your business.
Recurring billing is more than just managing the 'clockwork' of billing.
Most early stage companies are interested in simply getting 'set up' to manage the task of billing customers on a recurring basis. Mid-enterprise companies - with revenue velocity - are far more interested in optimizing their recurring billing to ensure that they are retaining their existing subscribers, and minimizing addressable subscriber churn. This is where Recurly has set itself apart from other available solutions. (See the 'Recurly Advantage')
Recurly addresses your PCI compliance concerns.
We provide a set of transaction forms (Recurly.js), which help your company own the entire user experience on your own website/domain, and securly pass credit card billing information to us without having to ever 'touch' credit card information. This keeps auditors, processors, banks and regulators happy, and your own CFO will be happy that you don't have to spend time and money to become PCI certified.
Recurly helps you optimize your customer retention (LTV).
One of the biggest challenges encountered with recurring billing is the frequent declines of transactions from existing subscribers. (Typically, 5% - 15% of existing monthly subscriber credit card transactions fail). Recurly works on your behalf to respond to many common error types with highly optimized responses to ensure that we are 're-capturing' revenue by correcting as many of your declined transactions as possible. For example: with 'Expired Credit Card' errors, we are able to correct as much as 80% of expired card errors with optimized responses. The Recurly service uses optimized responses for over 60 of the most commonly encountered error types to help correct credit card declines. This results in what is frankly 'found money'. We get ahead of your card declines, so that they don't result in unwanted subscriber churn.
Recurly helps you avoid unwanted customer churn.
This aspect of our service is how we have set ourselves apart from many subscription billing vendors.If you can prevent your customers from having to receive an email requesting that they come update their billing information, then you have avoided the potential for your customer to take the 'lazy path of least resistance' - which is to do nothing...and let their service expire. Our efforts in this area have yielded between 10% and 27% lift in recovery of declined transactions, which translates immediately to very material improvements in your subscriber churn and monthly recurring revenue.
Recurly helps your company grow through various stages: Multi-Currency support.
Many companies set out charging for their product/application/service in a single currency. Once they decide to start serving multiple geographies, it becomes increasingly important to offer plans in local currencies. Recurly easily supports the addition of multiple payment gateways, and 'Intelligent Payment Routing' which allows you to route transactions to the appropriate payment gateway based on currency type or transaction amount.
IF Euros --> Gateway A
IF $USD --> Gateway B
These factors combined with premium reporting, business insights and customer support dashboard controls have made Recurly the vendor of choice for many mid-enterprise companies.
If you have questions about how Recurly might help your business, please contact us. We can help relieve your subscription billing pain.
We offer a low-pressure, consultative approach to solving your subscription billing objectives. Our existing customers are our best advocates.
- The Recurly Team