Zoho announced Zoho Billing, an expanded version of its current application, Zoho Subscriptions. Zoho Billing, built specifically for growing businesses, is a multifaceted billing solution that allows users the flexibility to experiment with pricing and the ability to go to market swiftly.
For the past decade, businesses of all sizes have increasingly adopted subscription models, which introduced a number of challenges including managing recurring billing, and tracking new metrics. Zoho Subscriptions was introduced to solve these challenges. Today, business needs have evolved further, and they are more flexible and experimental in their approach to billing. Subscription-based businesses are exploring traditional sales methods, while companies that used to focus on one-time sales are considering tiered subscription plans. This evolution necessitates a comprehensive billing solution that supports businesses with their constantly evolving strategies.
"Today’s dynamic environment demands businesses to be more experimental and adaptive in their pricing strategies. Unfortunately, SMEs don’t have many choices when it comes to a comprehensive billing solution, and this is where Zoho Billing stands out," said Sivaramakrishnan Iswaran, Global Head, Zoho Finance and Operations Suite. "Zoho Billing helps businesses to be proactive by offering them complete control of their billing processes, helping them act fast on opportunities, and serving as an important touchpoint for customers, thereby providing them a competitive edge."
The latest array of capabilities along with the existing feature set, make Zoho Billing an end-to-end solution for all SME billing needs:
User-friendly interface with a gamut of new billing functionalities: Zoho Billing boasts a user-friendly UI with versatile billings functionalities like estimates, retainer invoicing for advance payments, one-time or flat-fee billing, project billing, expense billing, and Quote-to-Cash (Q2C). Businesses can also leverage features like consolidated billing, metered billing, online payment collection and record offline payments. Businesses selling mobile app subscriptions through app stores like Apple's AppStore or Google Play store, can integrate their billing, maintaining unified backend across selling channels.
Subscription management capabilities: The application has critical functions for subscription-based businesses like trial management, prorated billing, customer lifecycle management and retention helping them manage their customer subscriptions more efficiently.
Country-specific tax editions: Zoho Billing offers 13 country-specific editions including India, that helps businesses to be compliant with the regional tax regulations. Businesses outside of these countries can leverage the global version to configure the tax settings according to their local tax laws.
Business Analytics and Insights: Zoho Billing offers 50+ reports, providing metrics on accounts receivable, cash inflow, recurring revenue and customer subscriptions, enabling businesses to make data-driven decisions.
Built-in, seamless integration capabilities: Further enabling instant interoperability and contextual data flow between applications, Zoho Billing also integrates with other apps in the Zoho ecosystem such as Zoho Books for accounting, Zoho Inventory for inventory order management, Zoho CRM for customer relationship management, and Zoho Analytics for advanced analytics. Additionally, It also offers built-in integration with third-party applications like Slack, Zendesk, and Dropbox to cater to different business needs, and sync billing data contextually. For advanced or custom needs, businesses can use APIs and Webhooks to connect with any other applications.
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