Unlike traditional billing methods, B2B SaaS billing requires a more complex approach. It starts with an excellent subscription management platform.

If you’re new to the B2B SaaS niche or struggling to stay afloat with SaaS billing processes, don’t fret, we’ve got you covered.

Software as a Service (SaaS) companies charge their clients on a subscription basis. B2B SaaS vendors use this model to allow customers to use their software solutions for a contracted period.

Accuracy, efficiency and consumer satisfaction are the pinnacles of every business - more so when dealing with digital products.

Below, we’ll discuss 10 strategies to streamline billing for B2B SaaS companies.

#1. Automation

AI has evolved to such an extent that almost every production aspect of a business is controlled by automation tools. 

PayPro Global suggests setting up subscription plans that incorporate automated invoicing and payment collections. Automating these features will ensure you have steady revenue streams.

Another reason to consider automated tax management tools is that they handle tax calculations and filings and deal with the complexities of international tax laws.

#2. Transparent Pricing

Customers want to know what they’re paying for. Hidden costs only alienate them and drive away potential clients. Be transparent and flexible with your pricing strategy. 

For a B2B SaaS business, this would mean having subscription plans with fixed pricing. The same model might not work for advanced business products. Instead, each client will require a specified pricing plan, especially large enterprises.

Another way of maintaining transparency is via automated email notifications regarding payments, contract renewals and payment failures.

#3. Reputable Billing Software Solution

It’s practically impossible to run a subscription-based business manually. 

Subscription management software allows you to bill your clients without fuss or errors.

An end-to-end service doesn’t only handle payments. It supports the customer buying journey by integrating multi-languages, providing a personalized experience and making the customer feel valued.

#4. Flexible Pricing Models

A flexible pricing model is crucial for increasing product visibility, staying ahead of the competition and improving customer loyalty.

Common subscription models are tiered plans, freemium plans, free trials, and usage-based billing.

Also, remember to tailor your pricing models to align with your business goals.

#5. AI For Pricing Strategies

A survey by Gartner Quadrant revealed that pricing algorithms can increase revenue from 1% to 5%. It’s proof that pricing managers can use AI tools in their pricing strategies.

Forbes suggests shifting your focus from how much data insights you can gain from an AI engine to feeding data into the engine for better results. The publication says the success of pricing strategies lies in effective customer and product segmentation. AI can help you refine these segments.

#6. Forging Customer Relationships

Customer churn negatively affects your bottom line. You must track your customers to prevent further churn, from managing activations to usage to upgrades.

Streamline the process with an easily integrable system that automates the quote-to-cash process. This allows you to customize payment terms and maintain a good relationship with your customer in the long term.

#7. Consolidating Systems

Integrated automation has become a game changer in the B2B SaaS space. It streamlines the accounts process and enhances efficiency on the financial operations side.

Traditionally, companies worked in silos, affecting the workflow. Thankfully, software companies are seeing the value in consolidating departments to ensure seamless, trouble-free mechanisms.

#8. Localize the Customer Experience

Diverse payment methods and a frictionless checkout process will win you more customers and retain the loyal ones.

Inc. says companies shouldn’t view multiple payment methods as a burden but as an opportunity to scale business. Even research shows that more people in the U.S. are joining the cashless economy.

Go further and localize the customer journey by adapting payment methods, currencies and product interfaces to align with your client’s preferences.

#9. Multi-Channel Support

The digital age has made it possible for customers to contact a service provider or vendor via multiple channels. 

The telephone line is fast becoming obsolete. Email, chat and social media are leading the charge in 24/7 customer support.

Like localizing the checkout process, utilizing multiple languages instils a positive customer journey. 

However, if you’re communicating with customers on several channels, ensure you have the manpower to handle the influx of inquiries.

#10. Remain Compliant

Expanding your business to untapped regions requires you to navigate some murky waters. 

Subscription management solutions handle the uncertainty of tax compliance by adhering to international tax regulations. The bonus is that a reliable tool allows for accurate tax calculations.

Billing shouldn't be complicated because you’re in the B2B Saas space. By leveraging the tools at your disposal, you can streamline the entire payment and invoicing processing, saving you time and money.