Payment and subscription management for SaaS in Latin America: the 5 best practices

What are the main challenges for SaaS companies to scale in Latin America? How to manage payments and subscription billing efficiently throughout the region?
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The main benefits of the Software as a Service (SaaS) industry in Latin America are clear to any business. One of the most relevant advantages is to offer an online and easy-to-export service in a young and emerging region, that is particularly prone to digital adoption and whose economic and technological growth is highly auspicious.

All these factors come together to make the SaaS industry, a subscription model in full swing, obtain unparalleled growth and scalability potential, hardly comparable to other industries or models in the region.

What should a SaaS company need to successfully sell all over Latin America? Most of the answer – beyond the product – is in the subscription experience that you can offer.

In this direction, several challenges arise:

  • How to reach more countries and automate recurring billing in the region?
  • How to handle plan changes flexibly and efficiently?
  • How to generate "freemium" or zero-cost subscriptions?
  • How to centralize all your metrics to streamline processes in your organization?
  • How to integrate subscription management with the key tools for your business (CRM, ERP, finance, etc)?

All these questions have an answer, and you will find them in this article…

The first step: integrate a payment and subscription management platform

Acquiring a payment and subscription management system will allow you to gain efficiency and optimize internal processes, but also improve conversion, loyalty, and payment approval rates, with a single platform that brings together the complete hub of financial tools that your SaaS business needs.

For this purpose, buying a specialized platform is a simple and practical solution for your business, avoiding internal development, whose costs and implementation times could be up to 10 times higher.

The integration of a platform such as Rebill, by providing you – in simple steps – with all the necessary tools, will simplify your SaaS business management and also your customer's experience.

How to manage payments and recurring billing in a SaaS business?

Create optimized subscription experiences for your international customers in Latam by following these 5 practices.

1. Charge in local currency in Latin America

The size and diversity of the Latin American markets, reflected in its multiple currencies, idiosyncrasies, and payment methods (80% of the cards used are local), pose a great challenge for any business when it comes to scaling. How to charge locally in each market and receive the profits in your country?

The solution: integrate with multiple payment gateways and – consequently – with the most popular payment options in each country, reaching the thousands of potential customers waiting for you throughout the region.

With Rebill, you can achieve this simply and without development efforts, maximizing the performance of your transactions in the region. Learn more in this article.

2. Create flexible subscription plans

Flexibility is a key factor for any SaaS business, with pricing models that often bring together more than one subscription plan. For this reason, managing different products, prices, and the flexibility for upgrades and downgrades (making it easy to switch from one plan to another) is an essential part of the SaaS experience.

The key to success: offer your customers the possibility to change plans (upgrading or downgrading) in a simple way and without the need to previously unsubscribe, and if they can do so through a self-managed customer portal, the experience will be even more superlative.

Rebill provides this flexibility, allowing you to create groups of products (subscription plans) and manage upgrades and downgrades in just one click.

3. Offer a free or "freemium" option

The "freemium" model offers endless advantages. The most relevant for your business: the chance of reaching more users with an initial free version of your service, to then "seduce" them with one or more subscription plans and bigger benefits, such as more products, access to more users on the platform, etc.

For this reason, a pricing model where the initial plan is completely free is a great practice in the SaaS industry, by providing your customers with the "free sample" they often need before deciding to subscribe.

With Rebill, you can create zero-cost subscriptions for your customers, whose payment methods will be stored and available for future charges.

4. Track (and unify) the most relevant metrics for your SaaS business

Reaching more users with your SaaS business also requires a more comprehensive and exhaustive analysis of the most relevant industry metrics, such as growth indicators (gross volume, new customers, successful payments, etc.), recurrent revenue (monthly and annual), lifetime value, subscription cancellations, etc.

However, charging across the region with multiple gateways (each with its own platform and specific metrics) could make this analysis more difficult, unless you manage to centralize all your KPIs in a single system...

Rebill platform, by unifying your subscription billing management, also centralizes the metrics that matter for your SaaS in a single and cross-gateway dashboard.

5. Connect with the tools your business already uses

Integrating your payments and subscriptions system with the key tools for your business (CRM, ERP, financial system, etc.) is another necessary step towards success in SaaS, by simplifying internal processes and connecting data of your payments, customers, and subscriptions with the systems you already use.

How to achieve this? These platforms – such as Rebill – are capable of these integrations, by setting-up webhooks to receive notifications in other systems triggered by different events (new payment, new subscription, 24 hours remaining until next charge, etc.).

In this way, instead of integrating your business with your payment and subscription management, you can integrate your payment and subscription management with your business.

Ready to take this big step with Rebill?

Visit our website to learn more about our products and solutions to take your SaaS business to the next level, or directly book a Demo with one of our experts.

You are just one step away from growing with no limits or borders with your SaaS business.

Nicolas Scannone
Head of Content at Rebill
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