Great collections tools - automate messaging to customers that drives collections via cadences functionality.
Single source of the truth, maintains everything related to each customer's contract. Schedules out invoicing, revenue recognition, renewals along with storing actual contract and notes.
Cons
Our implementation process was a bit overwhelming. Too much information, too deep, should have focused on core functionality first. I believe they fixed this subsequent to our implementation.
Should be able to attach physical contract to the contract level, not at the customer level.
I never really used the analytics and reporting functionality, seems like it would have been great.
Likelihood to Recommend
It fit our use case perfectly. We acquired hundreds of contracts with an acquisition (prior to had only a few contracts). Our business model completely changed and we needed to make sure there were no interruptions in billing and most important collections from these contracts. SaaSOptics helped me quickly get control of and manage these contracts and get processes in place.
Best used for recurring invoicing - monthly, quarterly annually, etc. Invoicing and collections can be automated without the need to hire staff.
We use SaaSOptics for our billing needs. The invoicing service, past due reporting, and total financial history reports are used daily by executive leadership and customer management. Our CSMs are confident in using it and helping their customers. We track growth and expansion through the interactive reporting, and we are then make plans for continued success with our expanding users.
Pros
The default reports are easy to use and provide concise information.
Tracking what my customers have spent, and what items they have purchased, is easy to find and identify.
Their support squad is fantastic.
Cons
There are some minor UI changes that would improve ease of use and functionality.
Likelihood to Recommend
SaaSOptics is great for our billing management. It's easy to help customers update their billing information, sending them their current invoicing, and tracking any past due invoices. The reporting is clear to know where we are winning as a team. I haven't found a scenario where SaaSOptics has not met my expectations for the service it provides.
VU
Verified User
Manager in Customer Service (Computer Software company, 51-200 employees)
We currently use SaaSOptics in Finance for sending out and tracking invoices for our SaaS clients. It has cut down on invoicing time tremendously, as we used to just manually create them in QB and track them using Excel. Some of the reports have been useful to product and sales teams as well.
Pros
Invoice Automation
Data Integrations
Customer Service
Cons
Options for Cash-based businesses. While it's not GAAP compliant and most users are accrual, many SaaS start ups are still small and operating on a cash basis.
Commissions Module since SO already has all our data intergrations
So many different features and data entry points that manual data entry errors are common
Likelihood to Recommend
SaaSOptics is awesome for growing companies that want to automate their invoicing. I like that it is also aimed at subscription based sales structures rather than sales that occur at a single point in time (but has the ability to support both). SaaSOptics makes it super easy to keep track of subscriptions, renewals, co-terms, etc. The reporting is a great feature, but we are unable to use most of the reports as we are a cash-based accounting firm. SO caters to accrual accounting and GAAP compliant firms which makes sense as it is the most commonly accepted accounting basis here in the US, but many small SaaS start-ups are still operating on cash basis. We are one of those companies, so we are able to get a ton of use out of the invoicing side of things, a lot of the reports are useless for us. We also wish SO had a commission module since we already integrate our CRM and accounting softwares into it, but that is not a make it or break it for us. We love the time SO has saved us.
VU
Verified User
Employee in Finance and Accounting (Computer Software company, 11-50 employees)
Chargify is used as our billing system. We have software that is licensed on a monthly basis so customers pay for the licenses monthly. We use Chargify to charge and track all of our billing information. It is used by the company and it addresses the need for a billing system that integrates with our platform.
Pros
Billing - We've never had a problem with the billing not working.
Dunning - The dunning system is easy to use and automatically handles the missed payments.
Adjustments - It is easy to make adjustments to a customer's bill when needed.
Cons
Reporting - It doesn't provide the reporting we need so I have to do it manually. It doesn't track individual components like we need it to for monthly reporting.
Emails - The system's emails sometimes end up in junk mail, so I also follow up once a customer has missed 2 payment attempts.
Transactions - An easier way to get to the transactions would be nice. It takes many clicks to see the transaction history.
Likelihood to Recommend
Chargify is well suited for companies who need to offer a reoccurring license fee. I see it more suited for smaller companies, but we don't have the enterprise version so I'm not sure what it entails. It may offer more, in which case would make sense for larger organizations. I believe it is a great fit for smaller companies who need a system that is user friendly and fairly easy to use.
We use SaaSOptics as a single source of truth for all our contracts. It is a primary function of our Operations team but used to inform other departments such as Sales and Customer success. SaaSOptics helped us gain clarity and certainty into our customer contracts and solidify our revenue recognition to GAAP standards. In addition to revenue, it has streamlined our reporting for SaaS economics, Invoicing, and AR.
Pros
The software was built by a SaaS company for SaaS companies. This comes through in the user experience and training.
Integration with Avalara was very important and appreciated.
The subscription momentum reporting is amazing. Almost every meaningful SaaS metric in one place.
Cons
Would love to a see a commissions module or add on. This would add an incredible amount of value to our organization.
Improved documentation of general use case workflows. Having a visual and starting point for what needs to be done would go a long way in grasping what needs to be done in various scenarios (new contract, renewal, cancellation, refund).
Likelihood to Recommend
SaaSOptics absolutely nails contracts. It has the flexibility to deal with your one-off situations and then provides great default settings for the majority of contracts.
Stave first looked into SaaSOptics so that we could accurately record deferred revenue and our subscription services. The integration with QBO and HubSpot has extended our use of the product from just being an accounting tool to being a tool for our sales and customer success staff. SaaSOptics allows reporting not only on subscription metrics but also on revenue, customer and project metrics, which has proven to be extremely beneficial.
Pros
Reports on subscription services
Reports on revenue deferrals
Integrations
Invoicing
Cons
Would love to have more control over reports, customization, and printing to PDF instead of just CSV.
Likelihood to Recommend
If you are a SaaS provider needing a way to report on annual recurring revenue, monthly recurring revenue, or deferred revenue, then SaaSOptics would work for you.
SaaSOptics is used for our contract and revenue management, billing and collections. It is primarily used by the accounting and finance teams, however, all departments utilize the information derived from the system for addressing business needs. For example, our support teams access SaaSOptics transaction and invoice data with the Salesforce.com integration to give information to clients across multiple products without transferring them to the billing department.
It has also address the following major business problems:
Month-end reconciliation and close has decreased due to the accuracy of the system and the level of detail provided in our GL.
The executive team now has access to metrics that were previously non-existent for our company through other software.
Collections efforts have improved with their new collections module.
Billing accuracy has improved entirely and call volume to address billing concerns has reduced.
Quote-to-cash process has improved with Stripe and Salesforce.com integration.
Pros
Managing deferred revenue.
Contract management is flexible and allows us to see data that we never had before.
Billing is painless and is now done within a couple hours. Previously it would take at least 1-2 days.
Business Metrics and Reporting.
Cons
I would like to see a feature where clients can be notified if payments are applied to invoices.
Likelihood to Recommend
Managing deferred revenue can be tedious and inaccurate if not maintained properly. For a B2B business, SaaSOptics has the functionality that allows for us to properly build contracts, bill, and recognize revenue, streamlining the month-end close. Since it syncs customer-level detail with our GL, it allows for easy reconciliation. SaaSOptics has allowed us to be more flexible for our clients and their billing needs.
We use Chargify as our billing platform. It manages all our customer subscriptions and facilitates payments via our payment merchant. A number of departments across the company use Chargify. The product department sets up and manages the Chargify integration with our application. Finance users Chargify to ensure customers have subscribed to the right plan and are charged correctly. Sales, customer support, and success use Chargify to view customer account information.
Pros
Scales well as our customer base grows
Good reporting and continues to improve
Stable product - no downtime except for scheduled maintenance which rarely requires app downtime
Cons
Needs to improve customer invoices. Currency customers who pay by credit card cannot be sent an invoice from Chargify, only a payment receipt. This means we have to manually generate invoices from our accounting system. Apparently this feature is coming, but we've been waiting for years.
Reporting could be better. We need multiple Chargify sites because each site can only charge in one currency. Unfortunately, the Chargify reports can't consolidate the multiple site data. Therefore you need to run separate reports for each site. This has resulted in us having to use another SaaS tool for reporting.
API could be improved. We use ChartMogul for our reporting due to limitations in Chargify's reporting. However, they have made the decision not to improve the integration due to continued technical issues with the Chargify API data. Other SaaS analytic tools have recently discontinued their integration with Chargify.
Pricing - for the limitations mentioned above, the monthly subscription price is quite high.
Likelihood to Recommend
If you are a small startup, likely to be charging only in one currency, then Chargify will likely be suitable for you, as it was for us when we first started. However, as you expand and need to charge in additional currencies and require good reporting, you might find Chargify becomes more cumbersome. You do get a very stable and reliable billing platform with Chargify. I can't recall any downtime dues to issues. In the last 5 years, there have been only been 2 times where the app was down, both for scheduled maintenance. The communication leading up to the downtime was excellent, the app was up and running well within the maintenance window and everything kept functioning smoothly afterward.
Chargify is used for day to day transactions for our clients monthly, semi-annual, and annual payments to use our application. I use Chargify to monitor charges on clients' accounts for our records as well as being able to supply clients with any documentation that they need for their billing needs.
Pros
Chargify has a great and easy to use interface with a good flow that is easy to navigate.
They do a great job with the layout of their invoices. They're clean and easy to read.
They easily list my products to make sure I'm properly lining up details with what my clients should be charged for.
Cons
I'd like to see a more unique dashboard with analytics on the front end.
Likelihood to Recommend
I think Chargify works for managing your monthly incoming revenue among your clients. It's a great interface for providing easy to read and easy to manage data. I like the fact that the application isn't crammed to fill in every gap, nook, and nanny of the page. Chargify provides what you need, nothing overly obnoxious.