SaaS Business Process Optimization Tools & Software

Renewal automation

The cost of renewals for SaaS (Software as a Service) businesses can be high for several reasons. Despite the high cost, retaining existing customers through renewals is crucial for the long-term success and growth of SaaS businesses.

Here are the most common factors that contribute to higher costs in software renewals.

Acquiring New Customers Is Expensive

SaaS companies invest heavily in acquiring new customers, which includes marketing, sales, and onboarding costs. These costs can be significant and can take a while to recoup. Therefore, retaining existing customers through renewals is critical to offset these costs.

The Impact of Customer Satisfaction

Subscription-based models create a constant need to maintain customer satisfaction and continuously add value to the service to justify the recurring fee. Therefore, SaaS companies need to invest in maintaining and improving their product, which can add up to significant costs over time.

High-Levels of Customer Support

SaaS businesses often offer a high level of customer support, including technical support, customer success, and account management. These services are critical to ensuring customer satisfaction and retention but can also add to the cost of renewals.

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Cleverbridges renewal automation capabilities

Renewal automation starts with proactive retention marketing strategies at key touchpoints to build toward renewal transactions. It works to reduce the customer churn rate by engaging customers throughout their lifecycle, encouraging customer feedback to alert for signs of customers that are at risk of churn.

The Cleverbridge renewal automation platform helps improve retention rates and grows customer lifetime value (CLV) by:

Improving the overall digital customer experience
Improving product and brand reputation
Creating upsell and cross-sell opportunities
Encouraging early renewal to reduce time to cash
Reducing chargebacks
Scaling growth — without adding additional headcount

Customer marketing & churn reduction

A customer retention strategy is a key component to reducing churn and building a loyal subscriber base for recurring monthly or annual revenue. Today, companies need to go beyond traditional strategies for retention marketing for eCommerce by embracing a comprehensive digital marketing toolset that helps reduce churn and expands their reach in crucial online acquisition channels.

Regular customer interactions as part of your retention strategy increase customer lifetime value (CLV) by reducing customer churn and creating opportunities for upsells and cross-sells.

Cleverbridge retention marketing tools offer a comprehensive approach to customer retention by decreasing churn rates, reaching new customers, and increasing conversions.

Our churn reduction tools include:

Marketing automation
Email marketing campaigns
Cart abandonment solutions
Conversation marketing
Performance marketing
Affiliate marketing solutions

Increased authorization rates

Authorization rates indicate the percentage of attempted transactions that are successfully authorized by the payment processor. High authorization rates means that a large percentage of transactions are being approved, while a low auth rate means that a significant percentage of transactions are being declined.

Maintaining high auth rates is essential for businesses that accept payments as it ensures that transactions are processed quickly and efficiently, reducing the risk of lost revenue due to declined transactions. High auth rates also help to build customer trust and satisfaction by ensuring that payments are processed smoothly without unnecessary delays or declines.

How is Cleverbridge Managing Strong Customer Authentication (SCA)?

As your eCommerce and payment partner, Cleverbridge takes over responsibility for compliance with SCA requirements. We made some major changes to our platform and processes to ensure transactions are compliant:

We have implemented a Cardholder-Initiated Transactions (CIT)/Merchant-Initiated Transactions (MIT) framework so that recurring transactions are out-of-scope, and no SCA is required.
We are utilizing an up-to-date Bank Identification Number (BIN) database to identify the cards where the issuer is based outside the EEA, or anonymous cards where no SCA mandate is required.
We use preferred acquirers with low fraud rates to utilize TRA exemption for transactions below €100.
We will continue to track any changes in requirements for SCA exemptions to ensure that customers can still enjoy easy shopping experiences by applying these exemptions in the best way.

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System of records updates for a single source of truth

A "system of records update" refers to a change or modification made to a particular database or software system that serves as the official and authoritative source of data for a particular organization. In simpler terms, it is a change made to a database or software that serves as the official record-keeping system for an organization.

The system of records typically includes information, such as:

Customer data
Financial transactions
Employee records
Inventory data
Day-to-day operational data

The Cleverbridge platform provides a system of records updates for our clients, which includes updating the database or software system with accurate and up-to-date information related to customer subscriptions, billing information, and other critical data. The platform allows clients to manage their subscription-based business models and billing processes and provides reporting and analytics capabilities to help clients make informed decisions based on the data available.

Cleverbridge ensures that its clients' system of records is updated in real-time, allowing for efficient and effective management of subscription-based businesses. The platform is designed to handle complex billing scenarios, including proration, upgrades, downgrades, and cancellations while ensuring data accuracy and compliance with industry standards and regulations.

Business process optimization for enterprise Saas & digital products

How Cleverbridge accelerates business process optimization for SaaS organizations