The subscription business model has been around for a long time, but is increasingly becoming the favored model for any company looking to accelerate grown and increase its value. The effect of a steady growing cash flow from subscriptions can cause a tremendous effect on the bottom line. Due to its promise to skyrocket the success of a business, RedHorse CRM v7.0 added a new built-in module that can effectively track and manage subscriptions.
One of the complexities of this model is the repetitive recurring administration of the billing process. “The Subscription model has become very widely used by companies looking for recurring revenue, but very few CRMs handle the billing process,” says Connie Galligan, CEO of RedHorse Systems. The new subscription module in RedHorse CRM allows a company to handle the billing automatically every month with little effort.
The second addition in v7.0 is the convenience of credit card processing through integration with Stripe.com. A company can add Stripe credit card processing to their website to accept payments. Then the deposits for both one-time payments and subscription payments can be handled through RedHorse CRM and sent directly to QuickBooks. There are many integrations between Stripe.com and QuickBooks Online, but RedHorse CRM has the only integration between Stripe.com and desktop QuickBooks. This provides a key connection for companies that want to engage in internet commerce but prefer having their accounting in house.
Says Galligan, “This is a great combination and it doesn’t get any easier. Sell a subscription, have Stripe manage the payments and see the $’s multiply in QuickBooks!”