Why the right reporting is so important
Improved predictability and higher liquidity are the most obvious benefits of monthly recurring revenue, such as through subscriptions. You can read here what can be achieved with a good data basis and the right reporting.
One-off transaction becomes long-term relationship
While customers have an intensive but one-off touchpoint with the brand when purchasing a product, a subscription model offers several advantages in the long term:
- Lower entry barrier for users: Due to the lower entry price and often flexible termination options, users are more likely to take the step towards a contract than with a single purchase
- More points of contact: Regular product mailings, monthly invoicing and recurring use of the product create constant interaction between brand and user
- Better company planning: sales and user figures provide reliable forecasts and trends; at the same time, the churn rate indicates the need for action at an early stage
In particular, the improved predictability of sales and the ability to use trends and forecasts to assess risks and opportunities at an early stage and respond to them is worth hard cash. However, this requires not only monthly recurring revenue (MRR), but also one thing above all: a data and reporting basis tailored to the specific needs of the company.
Reporting made easy
Creating reports often involves a lot of work and effort - especially when, in addition to classic KPI reports, industry-specific reports, monthly and annual financial statements or detailed transaction overviews are among the recurring time-consuming and nerve-wracking tasks. The Berlin-based software company nexnet has taken on this problem.
nexnet not only helps with the creation of standard reports with a fixed structure, but also creates individual reports in which the scope of services can be determined by the user. This means that the data obtained can be analyzed as desired without having to do it manually. Reporting from nexnet is not only advantageous for subsequent evaluation; the data is also valuable for fraud management thanks to high-spender reports and indications of conspicuous user behavior.
Useful addition with Tableau
With the features of Tableau, a business intelligence tool, this collected data can be further processed in a meaningful way. Tableau is the world's leading platform for analytics and data visualization and enables companies to prepare data in a visible and understandable way and use it efficiently to identify and solve problems.
nexnet has been offering the right setup for monitoring and controlling transactions for over 20 years. From accounts receivable management to MRR billing or subscription billing: any of nexnet's services can be usefully supplemented by a comprehensive BI report.
Meaningful reports and data visualizations are an important tool for both strategic and operational processes. At nexnet, the customer decides between standard reports or customized reports - by e-mail, online or directly integrated. By connecting Tableau, this setup is also enhanced with valuable visualizations and analytics functions.
