The state of subscription and billing management report

We surveyed 1,500 global business leaders to find out how they plan to grow their recurring revenue streams, which offer predictable cash flow amid unstable economic conditions. Our new report outlines the four biggest trends shaping subscriptions and billing management in 2023. You’ll also learn best practices for turning these trends into actionable revenue growth strategies.

The state of subscription and billing management report

Duration 10 minute read Page count 16

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The state of subscription and billing management report

Key trends in 2023

The most successful businesses will build on the latest trends in subscriptions and billing to drive and maximize their recurring revenue. Businesses with recurring revenue streams plan to:
  • Evolve pricing: 40% will optimize and update pricing to maximize revenue
  • Find new ways to reduce churn: 43% expect customer churn to increase, prompting them to invest in revenue recovery tools to recover failed payments and retain existing customers
  • Offer more local payment methods: 71% will add at least one new local payment method to reach more international subscribers and retain domestic subscribers, while lowering transaction costs
  • Sunset their homegrown billing system: 36% will replace their homegrown billing solution with third-party systems to scale more easily, reduce maintenance costs, and better measure their financial health

Now that it’s easier to track product usage accurately and in real time, more businesses are offering usage-based pricing as a way to build a competitive edge and appeal to a wider customer base. Dynamic pricing models also help businesses better manage cash flows by leveraging AI and automation to adjust pricing based on demand fluctuations.

Tim Reed, Technical Executive Partner | Financial Services NA

Implementing homegrown solutions may look appealing at the outset… However, it’s easy to underestimate the complexity of business systems, and the initial build cost is just the tip of the iceberg. Over time, subscription businesses find themselves grappling with ongoing expenses related to feature enhancements, performance optimization, IT infrastructure upgrades, security improvements, and more.

Ben Brown, Managing Director, Strategy & Consulting, Financial Services

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