Avangate Summer 2013 Release has been designed to accelerate customer centric commerce for your business.
The feature set spans subscription management, customer management, Channel-enabled SaaS and other subscription-related business reporting and analytics, delivering a range of platform-wide enhancements to jumpstart your customer-centric strategies.
Advanced Subscription Management Capabilities
Customer Centric Dashboard
Avangate’s redesigned customer centric dashboard lets you assess the health of your subscription business at a glance – enabling valuable insight into how the customer base is evolving, total number of subscriptions and trial conversion rates.
The dashboard fine-tunes insights into your subscription business and enables easy actionability.
SaaS Reporting: Cohort Reports
Fighting churn and loss of repeat business need not be an uphill battle. Use Avangate’s new cohort reports to simplify the process of monitoring key SaaS metrics such as customer retention and recurring revenue.
The Subscription Cohort Recurring Revenue report enables you to track the evolution of subscription cohorts in terms of total revenue, average recurring revenue generated and number of payments received. Subscription Cohorts Churn focuses on churn and simplifies the process of comparing cohort attrition rates. Both reports include trial data from the Avangate system.
Avangate has diversified its billing models to help you accommodate pay-per-usage subscriptions and services. Take advantage of usage billing to split the total costs paid by customers each billing cycle into two components: a recurring base price for the subscription, and overage usage fees charged in arrears for the metered resources consumed. Customers pre-pay their subscriptions for upcoming billing cycles, and you track additional usage. At the start of a new billing cycle, Avangate charges customers the fixed subscription fee plus any usage costs incurred.
With the new pay-per-use models, Avangate is putting you firmly in control of usage handling, via self-service capabilities using the Control Panel and by automating usage management with the help of optimized integration capabilities through our API.
Co-termination of Subscriptions in myAccount
Customer satisfaction is a key contributing factor to customer retention. Avangate gives your customers’ flexibility and ease of use by simplifying how multiple recurring payments for their subscriptions are handled. Co-terminations, a new feature in Avangate myAccount, offer customers the option to synchronize recurring payments for multiple subscriptions. Customers can align disparate billing charges for ongoing subscriptions, and have all items renewed simultaneously via a single order to maximize simplicity.
Expanded Customer Management
Configurable Retry Logic for Renewals
Avangate is adding a new way to simplify the configuration of multiple renewal attempts for subscriptions that have expired due to transaction failures. Multiple renewal authorization tries are designed to counteract issues with automated recurring billing, such as lack of funds. With this new retry logic, Avangate has made it extremely easy to customize the renewal authorization process, fine-tuning it to boost renewal rates and to avoid critical service interruptions for your customers.
Account Updater Service
When it comes to improving your renewal rate, Avangate’s system is now better equipped to tackle potential recurring revenue continuity problems, even ahead of subscription expiration deadlines. The newly launched Account Updater Service supports seamless updates of card-on-file account information to minimize any potential disruption that could be caused by card changes, expirations, loss or theft to your customers’ automatic recurring payments.
By using the Avangate Account Update Service, you can benefit from:
- Minimized risk of declined transactions,
- More consistent customer retention rates,
- Decreased card declines and customer service costs, and
- Reduced processing costs.
Customer Service Trial Support
You and your customer service representatives (CSRs) now have more power and flexibility to cater to customer needs. Customer service trial support builds on an existing collection of features to streamline the purchase, renewal and upgrade processes for new subscriptions.
This feature further solidifies Avangate’s commitment to providing powerful customer service functionality, simplifying access to subscription trials to require minimal customer effort.
Enable your Indirect Channels for SaaS Revenues
Automatic Channel Renewals for Partner Sales
Avangate is helping you open up new business opportunities by banking on the relationships you’ve built with your partners. Leverage automatic channel renewals for partner sales and broaden subscription renewal options and flexibility for customers, while enabling partners to secure the revenue stream generated from the renewal of subscriptions they referred initially.
Direct renewals not only open your business to customers acquiring your products from value-added reseller (VAR) and distributor partners, but also make sure that the foundation of your partnerships remains strong, by preserving their renewal profit margins even if users choose to renew their subscriptions through your store or via Avangate. Direct renewals are tracked continuously, making sure that partners are credited for each transaction and commissioned accordingly.
Affiliate Residual Commissions
Differentiate the commission you pay affiliates for new purchases from the deal offered when the subscriptions they referred are renewed. Using this feature, you’ll be able to credit subscription renewals to affiliates, but configure a different commission for renewals than what they would receive for a new sale.
Leverage Platform-wide Enhancements
Branded Shopper Invoices
Avangate’s invoicing has been kicked up a notch, delivering a superior experience to customers. Invoices sent to customers on your behalf will reflect the visual identity of your brand. In addition to aligning invoices with your branding strategy, Avangate has introduced an overhaul to its invoice template, reorganizing information and enriching the data supplied to customers.
Enhanced Global Payments Support
Avangate has continued its investment into putting your customers center stage in terms of payment support. Updates enhance support for customers in Latin America who use Pago Fácil as their preferred payment method. Shoppers in Argentina will have an optimal experience when purchasing your product from Avangate and paying using Pago Fácil.
In addition, Avangate has intensified its focus on the U.S. market with the addition of a new local payment gateway. U.S. shoppers will enjoy better-than-ever support when purchasing via Avangate, both with their initial orders and subsequent recurring transactions made as a part of the subscription renewal process.