Product Overview of Recurly
Recurly is a comprehensive subscription management and recurring billing platform designed to help businesses of all sizes manage, scale, and optimize their subscription-based revenue streams.
What Recurly Does
Recurly enables companies to create, manage, and grow their subscription businesses by providing a robust set of tools and features. It helps in launching, adapting, and scaling subscriptions, ensuring a seamless and secure subscriber experience from sign-up to renewal. The platform is trusted by leading global brands to generate predictable recurring revenue streams and monetize existing and new offerings.
Key Features and Functionality
Subscription Management
Recurly offers flexible plans and pricing models, allowing businesses to quickly set up, test, and adjust various subscription plans, including free trials, coupons, and gift plans. It also supports multiple payment methods and gateways, enhancing the subscriber experience.
Recurring Billing
The platform streamlines the billing cycle with automated and manual billing options, customized templates, charge and credit adjustments, and global and local tax management. This ensures compliance with tax regulations and simplifies financial operations.
Payments Orchestration
Recurly supports a multi-payment gateway strategy, including the latest additions such as PayPal Complete and Boleto bancário, a popular payment method in Brazil. This expands payment options for subscribers, particularly in international markets.
Revenue Recovery
The platform includes best-in-class revenue recovery tools, such as account updater, intelligent retries, and dunning communications. These tools help minimize subscriber attrition and maximize recurring revenue by tackling payment declines and optimizing the subscriber experience.
Analytics and Insights
Recurly provides comprehensive analytics through new subscriber dashboards, including the “Today’s Activation & Churn” and “Subscriber Metrics Worksheet” reports. These dashboards offer a unified view of subscriber trends, helping businesses identify daily performance trends and make informed decisions.
Cross-Platform Integration
The app management feature allows merchants to combine analytics across app stores and web platforms, providing a single source of truth for subscription businesses. This streamlines multi-platform integration efforts and eliminates the need for complicated third-party integration tools.
Compliance and Security
Recurly ensures robust security and compliance, including SOC 2 Type II, PCI, GDPR, Privacy Shield, PSD 2, CCPA, and AICPA certifications. It also supports entity-specific tax filing via direct Avalara account integration, enhancing scalability and streamlining tax compliance.
Global Expansion
The platform supports localized payment processing, tax, and reporting requirements, facilitating expansion into new markets. It handles 140 currencies, 20 gateways, and 20 languages, making it easier for businesses to go global.
Integration and Ecosystem
Recurly offers flexible integration methods, including robust APIs, Recurly.js, webhooks, hosted pages, and mobile SDKs. It also integrates with leading payment gateways, CRM, ERP, data, tax, and fraud solutions, reducing development resources and driving frictionless workflows.
Conclusion
In summary, Recurly is a powerful platform that empowers subscription businesses to grow faster, smarter, and stronger by providing a comprehensive suite of features for subscription management, recurring billing, payments orchestration, revenue recovery, and compliance. Its flexibility, scalability, and robust analytics make it an ideal solution for businesses looking to optimize their subscription revenue streams.