Introduction - Subscription
This document is intended to provide information about RamBase Subscription and is not a technical manual. For implementation information, please refer to the technical documentation or contact our Support Team.
What is RamBase Subscription?
The RamBase Subscription is a sub-module under Rental. It is tailored towards the B2B market for subscription of non-physical products such as services or licenses.
The sub-module is a fully integrated subscription management and billing system that supports recurring revenue models.
This sub-module is designed to streamline your subscription processes from quote to cash, providing powerful, yet flexible subscription management and billing capabilities that can support your revenue models and customer management.
Who is RamBase Subscription for?
RamBase Subscription is designed for companies that incorporate subscriptions into their business models by offering services or software licenses on a recurring revenue basis. These subscription items are considered non-inventory.
How does Subscription fit into an ERP setting?
Subscription models have become increasingly integrated into Enterprise Resource Planning (ERP) systems, primarily due to the rise of subscription-based business models across various industries. Subscription in RamBase Cloud ERP interacts with and is connected with various other modules like finance, billing, CRM, product, and inventory management.
Here’s how subscription fits into an ERP setting:
Customer Demand
We support customers who are subscription inclusive and whose business models are a core aspect of their business strategy.
Revenue Management
RamBase Cloud ERP with subscription capabilities can automate recurring revenue, ensuring accounting accuracy.
Billing and Invoicing
Subscription billing within RamBase Cloud ERP is flexible to accommodate your pricing strategies and billing processes can be automated.
Customer Management
You can view your customers' life cycle within subscription including sign-ups, renewals, change of contracts or cancellations all within their contract overview.
Financial Planning and Analysis
Subscription data within RamBase Cloud ERP helps you to manage your cash-flows, ensuring that you have a detailed overview of what your customers are charged on a daily basis.
Security
Your customer information lives securely within RamBase Cloud ERP instead of third-party extensions which could be vulnerable.
Changing market demands
The growing adoption of subscriptions in the B2B space signals a strategic shift rather than a passing trend. Companies are increasingly leveraging subscriptions to enhance customer retention and lifetime value, resulting in more stable and profitable customer relationships.
What key features does RamBase Subscription provide?
RamBase Cloud ERP Subscription provides you with end-to-end subscription capabilities that allow you to create, bill, and manage your subscription items in one place.
Five key features to remember:
Dynamic Contract Management
Subscription contracts in RamBase Cloud ERP are dynamic, allowing real-time edits and updates, ensuring they remain accurate and reflective of current agreements.
Subscription Calendar Hub
A calendar-based interface for managing and visualizing subscription activities, charges, and adjustments.
Multipart Subscription Handling
You can create subscription plans that include multiple components or tiers, each providing different services or products under a single subscription contract. Despite comprising multiple parts, RamBase Subscription consolidates billing into a single invoice, simplifying payment and financial tracking for the customer.
Powerful Rate Handling Tool
The most important factors for customers to buy a subscription are financial incentives, but the appetite for subscription is not only driven by price, but also by other factors such as convenience.
Revenue assurance
Ensuring that your invoices are accurately based on the contractual agreements you have with your customers.
What is the purpose of a subscription model?
The purpose of a subscription model is to establish a recurring relationship between a business and its customers, where customers pay a regular fee in exchange for ongoing access to products, services, or content. This model offers several benefits and serves various strategic purposes for both businesses and customers:
Predictable and recurring revenue
Customer retention and loyalty
Scalability and growth
Data and insights
Market penetration and accessibility
This functionality helps you to manage your subscription contracts within RamBase Cloud ERP with no additional extensions required.
Who is Subscription for?
We are focusing on companies that offer subscription-based access to non-physical products or services as a supplementary part of their business model, rather than as their core offering.
In this release subscriptions are non-physical products.
Example: Service, software licenses
Services
In this model, customers pay a recurring fee to gain access to a service. The fee is typically fixed and charged on a regular basis, such as monthly or annually.
Software licensing
In this model, customers pay a recurring fee for access to a license. It's particularly common in software, where customers pay for the right to use software during a certain time. For example, many businesses license RamBase's software on a per-user, per-month basis.
What are the benefits of using Subscription in my business?
Enhances customer relationships by offering greater customization, a wider range of choices, sustainable products, and increased reliability, while also addressing the need to avoid tied-up capital and minimize risk.
Prevents revenue leakage
Provides revenue assurance that you are accurately billing based on the contractual agreement you have with your customer.
How is the RamBase Subscription different from other ERP features?
Subscription is a sub-module within Rental and is the only place that can support recurring revenue contracts.
Why should I use RamBase Subscription instead of a third-party extension?
Seamless integration
Unified data management
Consistent user experience
Enhanced security and compliance
Dedicated support and updates
Simplified vendor management
Scalability
Faster implementation