t3n of 30/03/2021: Improved predictability and higher liquidity are the clear advantages of monthly recurring revenues gained, for example, via subscriptions. Read on to find out what can be achieved with a good data foundation and accurate reporting.
When buying a product, customers have an intense but one-off touchpoint with a brand. A subscription model, however, provides many advantages in the long run:
- Lower barrier of entry for users: Due the low entry price and often flexible termination options, users are more likely to take a chance on a contract than in the case of an individual purchase
- More points of contact: regular product e-mails, monthly billing, and the recurring use of the product create constant interactions between the brand and the users
- Better ability to plan on the part of the company: sales and user figures show trends in reliable prognoses; at the same time, the churn rate reveals a need for action at an early stage
In particular, the better predictability of sales and the possibility to evaluate risks and opportunities at an early stage using trends and forecasts, as well as the ability to react to them, are worth their weight in gold. This not only requires monthly recurring revenue, however, but also another thing in particular: a data and reporting foundation tailored to the needs of the company.
Creating reports often means a lot of work and expenditure – above all, when sector-related reports, monthly closing statements and annual financial statements, are part of the recurring time-consuming and nerve-wracking tasks alongside classic KPI-reports. nexnet has dedicated itself to solving this problem.nexnet helps you not only to create standard reports with a fixed structure, but also customized reports in which you can determine the scope of service yourself. This allows gathered data to be analysed as desired without having to be dealt with manually.
nexnet’s reporting is not only an advantage for retrospective analysis: thanks to high-spender reports, and warning indications on abnormal user behaviour, the data are also very valuable for fraud management.
With the features of Tableau, a business intelligence tool, these gathered data can be further processed in a useful way. Tableau is the world’s leading platform for analytics and data visualization. It enables companies to process data in a clear and comprehensible way and to use them efficiently to identify and solve problems.
For over twenty years, nexnet has provided the ideal set up for monitoring and managing transactions. From credit management to billing of MRR or Subscription Billing: all of nexnet’s services can be usefully supplemented with a comprehensive BI report.
Informative reports and data visualizations are important instruments for both strategic and operational processes. With nexnet, customers can choose between standard reports or individually customized reports – by e-mail, online, or directly integrated. Through the inclusion of Tableau, this set up is also expanded to include valuable visualizations and analytics functionality.