Chargebee new products help subscription businesses combat economic turmoil

KUALA LUMPUR, July 29 (Bernama) -- Subscription management platform Chargebee has announced its Summer 2022 Product Release.

The slate of new products and features is focused on enabling high-performing subscription businesses to monetise their existing customers and fend off the growing threats of a tumultuous economy, a Chargebee statement said.

The overall challenge today is to manage cash flow processes by automating accounts receivables workflows, predict payment failure to minimise involuntary churn and increase customer retention and experiment with different packaging and pricing options.

“We’ve spent months engaging with customers, learning the ins and outs of their businesses and working with them to determine what types of tools they want and need to face their current challenges head-on,” product management vice president John Pearce said.

The software tools and solutions that form the centrepiece of its summer collection include Chargebee Retention, formerly Brightback, which along with Chargebee Receivables (numberz), and RevRec (RevLock), were acquired by Chargebee over the last 18 months, and represent Chargebee’s foray into becoming a multi-product company.

Pearce said these products will help customers “to build and scale their businesses, even in these trying times.”

Chargebee Retention allows businesses to focus on retaining customers they have at a time when both businesses and consumers have to evaluate everything in their portfolios and make difficult decisions, the statement said.

Chargebee Receivables helps businesses improve their cash flow management processes by automating accounts receivable workflows, while Chargebee Entitlements helps go-to-market teams provide feature access to customers beyond their plan on the flip of a switch, which can be used to incentivise plan upgrades and free-to-paid conversions.

The volatility of today’s market landscape calls for adaptability and being agile in ways businesses have not thought of previously, the statement said.

More details at www.chargebee.com.

-- BERNAMA