keep an eye on everything
Recognising and responding to customer needs and habits: billwerk gives you an overview of your KPIs and trajectories
Is your subscription business scaling? On your dashboard you can see the most important figures of your account at a glance.
Release the KPIs for your customer lifecycle value at the push of a button, e.g. monthly recurring revenue.
Monitor your contracts, product turnover, sales prognoses, payments, and component/discount entries.
More about Subscription Monitoring, Reporting & Analytics
What is Subscription Monitoring?
Subscription monitoring provides companies with a subscription overview in real time. All relevant key figures can be viewed clearly on detailed dashboards. At the same time, the data is stored so that important insights can be gained.
What is Subscription Reporting?
Subscription Reporting describes reporting and is therefore one level above monitoring. The data obtained from monitoring, for example, is used to show circumstances or trends that have already taken place or are currently taking place. Whereas monitoring concentrates solely on the data that is currently being collected, reporting focuses on future forecasts and assessments, which can highlight opportunities and risks.
What is Subscription Analytics?
Data analysis is the step in which an overall impression is gained from the reports. Individual data is put into context, evaluated, weighted and used for decision-making. For example, product owners, product managers or other decision-makers can use subscription analytics to determine the reasons for corresponding trends and developments or how significant the opportunities and risks are. Derived recommendations for action and measures to counteract or strengthen the trend can thus be easily defined.
Monitoring vs. reporting: What is the difference?
The approaches to reporting and monitoring are similar. Both are concerned with the acquisition of data. Reporting is the logical consequence of monitoring. Data obtained from monitoring can be reported and then analyzed.
Analytics vs. Reporting: What is the difference?
Reporting and Analytics build on each other. Without subscription reporting there is no subscription analytics. On the other hand, reports alone hardly allow contextualization and do not provide a view of the big picture. The analysis of the data thus provides the basis for the definition of measures.
Why is Subscription Reporting & Analytics important?
The ability to produce meaningful reports and analytics is increasingly important for all businesses and industries. Timely processing of data and the right reporting and analytics capabilities improve the ability to make informed, evidence-based decisions. In an era of increasing competitive pressures, growing globalization, and ever more differentiated customer needs, this is absolutely fundamental.
What are the challenges of monitoring, reporting & analytics for subscriptions?
In the digital age, the flood of information generated is almost unmanageable for companies. New data is constantly being generated via internal (software) systems, customer portals and other channels. This is valuable, but at the same time many companies find it difficult to draw tangible insights from it. The problem is further exacerbated when multiple types of data from different operating units need to be merged. Without appropriate tools that take care of reporting and analytics, the potential of this valuable information remains untapped.
What are the key metrics in Subscription Reporting & Analytics?
A recurring payment business model provides companies with a steady stream of revenue and their customers with the flexibility they desire. For example, the most meaningful metrics to ascertain whether predetermined goals are being met can be:
- Monthly Recurring Revenue (MRR).
- Annual recurring revenue (ARR)
- Average revenue per user (ARPU)
- The churn rate
- The renewal rate
- The customer lifetime value (CLV)
5 Benefits of Subscription Reporting and Analytics: Why deploy subscription performance monitoring software in an enterprise?
Effective, up-to-date reporting and analytics methods go far beyond actual data collection. They encompass a wide range of techniques that can provide valuable information to management. Particularly in the subscription space, there are a variety of key performance indicators (KPIs) that are relevant to getting a picture of the company’s performance and potential for change (in both positive and negative directions). Tracking these manually is hardly feasible in practice. Thus, subscription management solutions offer a number of important benefits for subscription companies:
- Meaningful assessment of current performance.
With the help of KPIs, companies are able to continuously monitor the development of their own business. Comparing KPI data with benchmarks shows whether performance is improving, stagnating or (at worst) deteriorating. This can be determined by an individual department or division as well as at the overall company level. Evaluating one’s own performance is easier if investments in acquiring new customers, CAC and CLV are always kept in mind.
- Greater transparency across company
Subscription analytics software captures all types of data across the enterprise. It doesn’t matter what infrastructure that data comes from or how old each component is. Any data source can be integrated into reports, giving users a fully comprehensive view of their own business.
- Identify problems and challenges faster
A company is only as successful as the cash flow it can generate in the future. The company’s own KPIs provide information. Performance slumps and their causes are much easier to identify using analytics and reporting. Equally, however, companies have the chance to counteract this before it is too late. It’s easy to identify starting points to increase efficiency and profitability.
- Improve demand forecasting
KPIs are also useful for establishing internal benchmarks for business development. These make it easier to forecast in terms of demand in the coming months and years. Slightly exponential growth in recurring revenue (MRR, ARR) or user numbers is often an indicator that a company’s own subscription products are at the beginning of a demand boom. This makes it easier to forecast business figures, but also allows for better preparation. New servers, new employees, additional functions required: All this can be planned promptly and on the basis of reliable forecasts.
- Increased timeliness, improved efficiency
After data collection, the question is how to present the data to business owners and decision makers in a thoughtful and insightful way. Management levels need the information clearly presented so they can analyze it easily and quickly. A poor or inadequate Subscription Overview due to insufficient data slows down decision-making processes. By implementing an effective reporting and analytics system, a company can improve its communication, productivity, accuracy and timeliness.
What is Subscription Analytics Software?
To get the most out of their data and realize the potential of their business, companies need a reliable means of collecting, processing and analyzing it. Subscription analytics software is such a tool. It clearly displays the most important key figures on customizable subscription dashboards, contextualizes a wide variety of data sets and enables meaningful subscription reports at the touch of a button. On this foundation, important decisions can be made for the alignment of the company and its processes.
How does subscription analytics software work?
A modern reporting and analytics solution can easily tap, process and analyze data from all areas of the company and from many other data sources. As a well-connected hub within the system landscape, subscription analytics software ensures that data from all relevant processes converge harmoniously. This provides companies not only with a wide range of information in real time, but also with a complete picture of the status of all KPIs. These can be defined independently. Sales and user figures are available on a daily basis, and the reports provided show trends and developments. Access is via the computer or mobile devices. Multi-level security defines access to individual pieces of information and ensures that everyone has access to exactly the information they need for their own tasks.
Reporting & Analytics: In-house Analytics Capabilities or Subscription Analytics Software?
As is so often the case with subscription analytics software, the question is whether to go with an in-house or third-party solution. Companies that opt for an in-house solution benefit from short paths, a development process without dependencies, and the certainty that they will receive subscription monitoring exactly as they want it. Changes and adjustments can be made promptly and flexibly. On the other hand, there is probably a lack of know-how and industry-specific experience. Furthermore, specialists who are needed to implement projects have to be hired. The cost advantage, which may arise compared to software from the free market, is thus quickly put into perspective again. They are also often neither state-of-the-art nor do they comply with EU regulations.
Modern subscription analytics software solutions now offer a wide range of functions to cover a variety of company-specific requirements. In terms of security and compatibility, they are state of the art. The continuous development of these platforms offers ever new features and allows users to stay competitive. Real-time monitoring, custom reports and user interfaces based on the latest criteria ensure maximum flexibility. In the event of problems, such as server failures, external support ensures that the damage is limited and that errors and problems are quickly resolved.
What should you look for when choosing subscription analytics software?
There are numerous software solutions for monitoring and analyzing your own subscription data, but it is worth taking a look at the capabilities of the individual offerings. Since the primary goal of subscription analytics software is to make everyday work easier and clearer, a high degree of automation is important. A large number of interfaces simplifies integration into existing software landscapes, no matter how heterogeneously they are structured. Keyword KPIs: These can be freely defined and specified by state-of-the-art subscription analytics software. The same applies to reports, which can be customized. Nevertheless, modern applications already provide a wide range of custom reports to make it easier to get started.
One of the most important criteria away from the applications is an intuitive user interface that enables quick familiarization and uncomplicated, internationally understandable use. This is ensured by ergonomic and clearly arranged dashboards that can be customized based on the user’s own requirements. Comprehensive support from the manufacturer throughout the entire product lifecycle is also a decisive criterion when selecting a suitable solution. In addition, subscription companies in particular should be sure to check whether the software is PCI-compliant and therefore meets the relevant standards.