Product Overview: Slicker
Introduction
Slicker is an advanced payment recovery solution designed to help businesses maximize their subscription revenue by efficiently managing and recovering failed payments. This innovative tool leverages artificial intelligence (AI) and machine learning to optimize the payment recovery process, reducing involuntary churn and enhancing overall revenue stability.
Key Features and Functionality
Payment Recovery on Auto-Pilot
Slicker automatically monitors, detects, and recovers failed subscription payments. This automated process ensures that businesses can recover revenue without manual intervention, streamlining their payment management operations.
State-of-the-Art Machine Learning Model
Slicker’s machine learning model schedules and retries failed payments at optimal times, taking into account various parameters such as industry expertise, historical performance, and differences between payment issuers. This approach maximizes the success rate of payment recoveries.
Error Analysis and Retry Management
The AI engine dynamically determines if a payment error is retryable, considering factors like the type of error and the issuer’s historical performance. This ensures that only viable retries are attempted, reducing unnecessary attempts and improving efficiency.
Lightning Fast Setup
Slicker offers a no-code setup that can be completed in just 5 minutes. This quick implementation allows businesses to integrate Slicker with popular billing and payment platforms such as Stripe, Chargebee, Recurly, Zuora, and Recharge, as well as in-house systems.
Fully-Transparent AI Engine
Slicker provides a transparent AI engine that allows users to inspect, audit, and review every action taken by the system. This transparency ensures that businesses have full visibility into the payment recovery process.
Complementary with Existing Stack
Slicker can work alongside existing churn strategies, allowing businesses to continue running built-in retries or rely entirely on Slicker’s automated recovery process. This flexibility ensures seamless integration with current systems.
In-Depth Payment Analytics
The platform offers detailed analytics to help businesses discover trends across customers, geographies, banks, and payment errors. This data enables businesses to monitor and analyze improvements over time, making informed decisions to further optimize their payment processes.
Proactive Customer Retention
Slicker identifies at-risk customers who are likely to experience payment failures, allowing businesses to take proactive measures to retain these customers. This feature can be integrated into the product with just one line of code.
Benefits
- Increased Revenue Recovery: Slicker customers typically see a 10 to 20 percentage point increase in recovered payments.
- Reduced Involuntary Churn: By efficiently recovering failed payments, businesses can reduce the rate of involuntary churn.
- Enhanced Operational Efficiency: Automated payment recovery and retry management save time and resources.
- Improved Customer Retention: Proactive identification and management of at-risk customers help in retaining more subscribers.
Overall, Slicker is a powerful tool for businesses looking to optimize their subscription payment processes, reduce revenue loss, and enhance customer retention through advanced AI-driven payment recovery solutions.