Why does recurring billing need to be flexible?

Modern market requires flexible solutions which can adjust to the needs of your business. And recurring billing is not an exception. There are at least two things which can vary: your engagement with customers and payment scheduling. Let’s start with the first one.

Depending on the way you engage with your customers uncommitted and committed recurring billing can be pointed out. In the uncommitted recurring billing customer is not bound to a particular time commitment (when the customer stops paying he is automatically stops to be provided with services and no collection action is required). On the contrary, in case of the committed recurring billing the customer is obliged to pay according to the contract. Consequently, when the account becomes delinquent a recurring billing needs to make collection attempts.

What is more, you can choose you can choose to operate on several different schedules: a fixed/term payment plan, a pay-as-you-go/unlimited payment plan and a hybrid, rollover or extended schedule. If you find this information useful you can read the full article describing the recurring billing concept at #PayVisors.