When you run a business, there’s always accounting to be done that you’d rather not. Luckily for you, you don’t need a degree in mathematics to keep on top of your books. Thanks to the wonders of the internet and fancy encryption tools that keep everything safe, you can bill clients online and organize your accounting needs. The issue is that there are hundreds of billing solutions all boasting to be better than the other. Fortunately, we’ve compiled a list of the five strongest contenders here.
BillFin is the answer that financial advisors have been looking for. This software from Redi2 allows you to place all of your billing in one place. Further, you can set up reminders and automate processes. This easy-to-use software will only set your back $99 at the lower end. However, if you’re looking to scale up to enterprise-level, you can pay up to $599 per month.
Stipe is one of the most popular billing solutions on the market right now, especially for new SaaS businesses. The system is simple to set up and is only charged based on its usage, which means you can take breaks without canceling subscriptions. Stripe will charge per customer, currently set at 2.9% + $0.30 for every transaction. One of the primary flaws with Stripe is that the larger your company grows, the more expensive it will be. Therefore, it may be worth seeking out flat-rate solutions eventually.
Braintree is PayPal’s child and is now a great competitor of opponents like Stripe. The solution is similar to Stripe. However, with it being owned by PayPal, there is the option to accept PayPal payments. You can access Braintree in over 45 countries and it works well with existing merchant accounts. Further, you can access the software from your mobile as well. Per transaction, there is a charge of 2.9% + $0.30 for each transition. If you want to offer PayPal alongside having a great billing solution, this is the one for you.
This option is tailored to those looking to scale up and pay a flat rate. Currently, the starting price is $249 per month. For this, you are entitled to annual revenue of $600K. Users can benefit from a free account alongside revenues of under $50K per month. Chargebee is packed full of customizations, which make it the perfect companion for any SaaS business. Chargebee is used for subscription management. So, if you need to accept payments, you will need to use another solution alongside this.
This is another subscription management solution geared primarily towards SaaS businesses. The starting price is $149 for up to $10K monthly revenues. The client base for Chargify is primarily B2B businesses that have convoluted needs.
In the world of computers and smart devices, SaaS businesses rely on online payment methods to make their money. There are plenty of choices, and those mentioned above are just the tip of the iceberg. You need to fully understand your needs before you choose a solution.