How software can benefit subscription-based SMEs?

From order management to billing & payment tracking, time management, synchronization, and many more, a specifically cut-out software solution can offer numerous help to the subscription-based small and medium-sized enterprises in managing their orders & deliveries, expanding their reach and increasing businesses, and merely for a fraction of cost.

With the advent of technology, we can now have software solutions for almost every business model. And why not? It is convenient, it streamlines processes, it helps in reducing manual labor, it saves money and most importantly, it lessens the headaches of the business owners. In this post, we will try to understand how a subscription-based business model can benefit from an appropriate software solution. It can be any subscription business, say newspaper, milk delivery, pet food, tiffin service, etc. So, let’s get started!

  • Order management: For subscription-based businesses, order management is the most crucial area and demands a higher level of attention and management as it is not something once ordered, delivered, and over. It is for long runs. It involves repeated and regular delivery services, and every time at the correct time, correct place, correct items, and of the correct amount. Managing this amount of data against each order and for hundreds of orders manually is not only a daunting task but also there are ample scopes of errors and goof-ups. A software here can really help in streamlining the processes by maintaining a clean track of every incoming order against each individual subscriber, scheduling them for the proper delivery dates, and giving timely reminders to the business managers about the deliveries, like what, where, when and whom to deliver. Additionally and importantly, an apt software solution also helps in raising invoices of the subscription orders, daily, weekly, monthly, or yearly as per the business policy and track their payments.
  • Billing and payment tracking: Continuing from the previous point, billing and payment tracking are important irrespective of the business models. However, for the subscription-based business models, billing can pose a real challenge as in this case the payment and the amount need to be considered for consumption over a period of time, i.e. a subscriber may make a payment today for consuming goods and services for up to a month or more. Again in between this time, there can be a cancellation of orders for a day or more days, or alteration of items, or extra ordering, etc. Keeping all the records properly for all the subscribers and raising them an error-free invoice every time may not be cake-walk at all. However, this process can be significantly made easier and simpler by opting for an apt software solution that can keep records on a day-to-day basis and presents an updated invoice to be raised to the customer/subscriber at any point in time with just a few clicks & without any headache. Similarly, payments are also kept tracked and collated in the books of accounts to help out in the time of the annual audit.
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  • Time management: Time management is essential for every business, every individual, and for every occasion. But why is time management tough for delivery services? It is because orders may pour in anytime but scheduling them for proper delivery location-wise, product-wise, time-wise, customer-wise and finally executing the same can be mind-boggling. A software solution, on the other hand, with the virtue of its artificial intelligence can handle, streamline, and manage this part quite easily. To begin with, the businesses can set a cut off ordering time for the daily deliveries. For example, the orders placed within 11 am will be delivered the same day, orders placed after 11 am will be scheduled for next day delivery, etc. Apart from this, the software can easily help in segregating orders parameter-wise and prepare them for dispatch in an organized manner with dispatch labels and finally set off for the deliveries.
  • Synchronization: If you own a fairly well-sized business, you may have collaborators or laborers to help you out in business in terms of delivery, payment collection, etc. A tiffin service management software solution that offers mobile apps for a real-time check on-the-go can help to keep all the collaborators and business owners in a proper sync. There will be no chance of double delivery or double knocking for payment which can be of much embarrassment for the subscribers, many of them sometimes even get offended.
  • Tax Compliance: An effective software solution specially cut-out for the subscription-based business model should be compliant with the taxing system of its country of operation. A tax complaint system is important to save the hassles in time of audit and also saves extra service costs at the end of the financial year. A tax compliant software solution keeps the businesses sorted with the rules and regulations of the government and makes tax filing easier like never before.
Know how ‘onefooddialer’ can be the one-stop order management solution for your subscription business.

Do you run a business that is based on the subscription model? How easy or tough is it to manage? We would love to hear about your story, please share with us in the comments section.

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