Subscription Billing Software Glossary: Key Terms & Concepts

An invoice and a bill are documents that convey the same information about the amount owing for the sale of goods or services. Still, a company uses an invoice to collect money from its cu...read more

When a firm refers to money owed to them by a customer, it is referred to as collections. When a consumer fails to pay a company within the agreed-upon terms, the bill becomes past due and...read more

Your firm will be able to hold funds in multiple currencies if you have a multi-currency bank account. When conducting a business across borders, having a multi-currency account can help y...read more

A tax is a governmental mandatory financial charge or levy imposed on a taxpayer to fund certain public expenses. The taxation system is critical for a country's economy since money is req...read more

A self-service portal is a website or app that enables workers (or external clients for externally visible support providers) to help themselves when they require assistance, information, ...read more

A quote, also known as a proposal, is a document that establishes a contractual connection between two parties. A quote is a supplier's response to a prospective customer's request - one l...read more

Trading money electronically is known as online payment. Computer networks, the internet, and digital stored value systems are commonly used in this process. You accept an online payment w...read more

Payment Processing is defined as providing a Person with the ability to charge or debit accounts using any payment mechanism, including but not limited to Remotely Created Payment Orders, ...read more

A customer portal is a website that allows current customers to access services and information. It's usually safe and confidential, and it requires authentication. Account information, pa...read more

When a subscription business charges a customer's credit card for items or services on a regular billing schedule, this is known as recurring billing. Subscription services typically charg...read more

Custom pricing models are a feature of software that allows businesses to set unique pricing structures for their products or services. This feature enables companies to tailor pricing mod...read more

Customer relationship management (CRM) is a tool that allows to keep track of all of the company's relationships and interactions with its customers and prospects. Its objective is straigh...read more

The process of keeping track of clients' orders and managing the actions required in completing them is known as order management. Accepting the order, picking, packing, and shipping the t...read more

Ticket management is a means of dealing with issues and requests. Tickets are simple data entities used to track everything that needs to be done. Ticket management is a crucial business s...read more

A product catalog is a marketing tool that contains vital product information to assist buyers in making a purchasing choice. Product characteristics, descriptions, measurements, price, we...read more