Maintaining a SaaS product is a bit like giving it a therapy session.
Stay with me here.
SaaS businesses constantly work on their products, enhancing old features and adding new ones in an effort to make the best possible version. Much like when someone goes to therapy.
In our devs’ quest to make Stax Bill the best version of itself, we’ve launched some highly anticipated, high-ticket new features over the last three months.
You can keep up with Stax Bill’s therapy sessions product updates in real time on the release notes section of our website. We also put together a quarterly summary of our release highlights here on the blog.
Here’s what our dev team has been working on:
An updated revenue recognition module for full ASC 606 compliance
Businesses have known about ASC 606 since it was announced in 2014. However, it’s still a source of confusion for many subscription businesses handling it without the right set of tools. In mid-April, we officially released updates to our existing revenue recognition module. It empowers businesses to automate full ASC 606 compliance.
We’ve added:
- support for the milestone method of revenue recognition,
- terminology aligned with that of ASC 606, and
- additional screens to give you increased visibility into revenue recognition progress for any given customer contract.
The best part? This module is included with every Stax Bill subscription at no extra cost. Chat with your customer success manager to activate it today!
Read more about this update here: 7 Requirements of an ASC 606-Compliant Recurring Billing System
Many updates to our NetSuite integration
So many updates. Like, we published an entire blog post just about the integration updates, and we still didn’t get to cover everything.
If you take advantage of our Stax Bill/NetSuite integration, you can expect to see:
- simplified processes for discounts, manual credits, and taxation,
- additional field mapping functionality,
- improved recording and displaying of NetSuite IDs within the Fusebill UI,
- increased logic for handling reverse charges of inventory items,
- and so much more!
Read more about this update here: Integrating Your Billing Automation Setup with Your NetSuite ERP Just Got Better
One-time product purchase support for registration pages
Our hosted registration pages empower your customers to take subscriptions into their own hands. They allow customers to sign up for new plans whenever they want, without contacting your sales or service reps.
Previously, registration pages allowed new customers to purchase physical products only when bundled with a subscription service. The recent update enables you to create hosted registration pages for one-time purchases without the need to buy a subscription. This enables you to create pages similar to an e-commerce site.
Learn more about Stax Bill’s hosted registration pages and self-service portals here: Enhance Your Subscription Business with Hosted Registration Pages and Self-Service Portals
Opening balance import
Our prospective customers are often concerned about losing outstanding customer balances when switching to Stax Bill from another billing solution.
To address this, we enhanced our opening balance import functionality. Now, rather than importing a total sum of your customers’ outstanding balance, you can:
- split the total balance into individual invoices,
- import multiple invoices for the same customer,
- leverage existing invoice numbers for consistency, and
- allow customers with unpaid balances to log in, view, and pay outstanding invoices through the hosted self-service portal.
Read more about this update here: Switching Recurring Billing Software Is Easier with an Opening Balance Import
More visibility into customer email logs
When it comes to activities that affect your accounts receivable (AR) activities, more visibility is always a good thing.
This particular update provides more visibility for any emails coming from the Stax Bill system—invoices, payment receipts, dunning messages, and so on. It allows you to see whether any email was:
- delivered,
- deferred—meaning there was an error delivering it, but the system will continue to try again,
- bounced, or even
- opened
This added information is helpful when determining whether additional follow-up steps are needed.
Not using Stax Bill yet?
We’re up to some pretty cool things.
If you want to learn more about any of our features, we’d be more than happy to chat with you. Talk to one of our subscription experts here or try Stax Bill for free by filling out the form below.
