Tai Software recovers 73% of past-due customers in first six months
At a glance:
73% of past-due customer payments recovered in the first six months
10% increase in revenue processed in the first six months
Tai Software is an all-in-one domestic freight management system for full truckload and less than truckload (LTL) shipments, creating industry-renowned automation and integration capabilities to facilitate freight operations. Recognizing a need to apply the same seamless automation to its subscription billing and management, Tai Software partnered with Recurly.
Within the first six months of launch, Recurly recovered 73% of Tai Software's past-due customer payments using a multi-faceted decline management strategy. This led to an almost 10% increase in its revenue processed through Recurly's platform over the same time period. “Since implementing Recurly, our quote-to-cash and subscription management process have been significantly streamlined and are now fully automated,” said Walter Mitchell, CEO at Tai Software.
Recurly has allowed us to take great strides by tailoring our billing offerings to the needs of our growing customer base.
With a view into critical customer insights, “[the] central access to complex data ensures we can optimize our billing management flow by getting ahead of our customers’ problems and offering the right solutions at the right time to increase and retain our subscribers,” Mitchell added. With a new infrastructure that makes it easy to manage plans, collect payments, and reduce operational costs, Tai Software can focus on scaling its business and amplifying acquisition and retention efforts.
Tai Software has seen a favorable response to new pricing models from its subscribers, resulting in more frequent upgrades and plan revisions, a key to supporting its expansion.The new relationship brings customized billing and payment with enriched customer insights to support Tai Software’s growing customer base.
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