Subscription Billing
Subscription billing, also known as recurring billing or subscription-based billing, is a business model in which customers pay a recurring fee at regular intervals (such as monthly, quarterly, or annually) in exchange for continued access to a product or service.
What is Subscription Billing?
Subscription billing, also known as recurring billing or subscription-based billing, is a business model in which customers pay a recurring fee at regular intervals (such as monthly, quarterly, or annually) in exchange for continued access to a product or service. It is commonly used by subscription-based businesses that offer products or services on a subscription basis, such as software-as-a-service (SaaS) companies, streaming services, subscription boxes, and membership-based organizations.
Within NetSuite, subscription billing can be enhanced by a native SuiteApp like ZoneBilling. With it, you can automatically create and manage orders, bills, and credits based on billing rate type and charge schedule. This means you can bill and recognize everything from simple one-time fees, fixed recurring bills, or pay-as-you-go setups, all the way through to usage-based billing, including inventory items, pre-payments, minimum commitments, co-termination of contracts with pro-rata pricing, automated renewals, and more.
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