Managing a subscription business can be a challenge, especially given the fast-paced nature of modern consumer culture. Without proper support, strategy and processes around payment collection, it’s difficult to grow and scale up an operation.

The trick is to work out which technological solution will make your business run more seamlessly so that running it won’t continue to demand so much of your attention.

Read on to learn how to free yourself from the tedious, complicated tasks associated with running a subscription business, while still allowing it to grow.

The diminishing returns of processing

So… you have your subscription business set up, and your subscription payment model is maintaining cash flow via regular payments. In addition, your operations and finances are becoming more routine, and you are building stronger relationships with your customer base. These are all key benefits of the subscription payment model, which will set you up for expansion.

However, now you find that your business is hitting the growth superhighway (if it hasn’t already), and suddenly, you’re forced further into the business just to keep up. Sure, all your billing is in place, but when you grow, the amount of work to keep your processes running may begin to spread you and your staff very thin.

This is particularly limiting for a growing business. Your business cannot grow if you’re working around the clock - doing so might be holding your business back from expanding.

Exchange 'Manual' for 'Automated'

Manually processing subscription payments and creating invoices takes time and hamstrings your business’s growth. Unfortunately, this problem will only get worse as your business serves more customers.

This is why implementing an automated payment collection solution to support your business will do you a world of good. Automation, when properly implemented, can completely free up your time and resources to spend on the more important, revenue-generating activities.

A 2022 case study conducted by Ezypay found that one Ezypay user managed to reduce their payment processing time from 22 hours per month to just 2 hours per month by automating repetitive payment processing across their franchises.

Automated subscription-based billing solutions that can be customised to meet the requirements of your business can be more affordable and simpler to roll out than you may think. In the end, you need to consider how much these manual processes are weighing you down, and what this time represents as an opportunity cost - both to you and your business.

Focus more on growing your business

As a manager or entrepreneur, your passion is your business. This means your time is better spent on looking towards the horizon and seeing the bigger picture, rather than spending unnecessary time ‘in the trenches’, working around the clock on tasks that can be replaced by technology.

Think about examples of businesses that use subscription-based billing today: childcare, dance schools, gyms and even charities - all of these wouldn’t grow or make any progress if managers were behind the desk processing their invoices. Instead, they are out on the floor and in the field, improving their customer experience and making long-term decisions about business direction.

Subscription automation can free the shackles tying you to the administrative side of your business and giving you the freedom to do the tasks that matter.

Unlock automated payment collection with Ezypay

Unlock your business’s true potential with subscription billing and utilise more streamlined systems to take you to the next level by switching to Ezypay. Participate in a FREE demo today and see how Ezypay can liberate your subscription business from the tedium of manual payment collection.