13 Best recurring billing software for SaaS in 2024

The SaaS landscape has undergone a dramatic shift. As competition intensifies, SaaS firms are focusing on retention and expansion revenue to drive growth. In an era where Net Revenue Retention reigns supreme, improving your recurring billing process is more critical than ever.

This article explores the 13 best recurring billing software solutions for SaaS in 2024. We’ll provide you with the tools and knowledge to navigate this evolving landscape and maximize the lifetime value of your customers.

But first, let's define what this type of software is and why it's vital for thriving in the new normal of SaaS.

What is recurring billing software?

Recurring billing software is a type of software that automates the billing process for customers who use subscription-based services. It’s a must-have for any SaaS business. 

Think of it as your automated billing assistant. It handles everything from generating invoices and processing payments to managing subscriptions. It also provides valuable insights into your revenue streams. For more on the basics of this topic, check out our dedicated guide to recurring revenue software.

Why is it so useful for SaaS particularly?

You can set up automated recurring billing cycles instead of chasing invoices and let the software handle the rest. 

SaaS companies, in particular, benefit greatly from this automation. Why? Because subscription management can become complex with various billing dates, plans, and discounts. A good subscription billing service takes the hassle out of these tasks.

Here's how recurring billing software helps:

• Automates invoices and payments: Do away with manual data entry or late-night invoice chasing.
• Manages subscriptions: Easily handle upgrades, downgrades, pauses, and cancellations.
• Reduces errors: Minimize costly billing mistakes and keep your records accurate.
• Provides valuable insights: Get a clear view of your recurring revenue, customer churn, and other key metrics.

The best recurring billing software can also:

• Boost customer satisfaction: Offer a smooth payment experience that keeps your customers happy.
• Improve your cash flow: Forecast your revenue with confidence and guarantee timely payments.
• Free up your time: Focus on growing your business. Instead of having lots of employees working on billing, you can allocate them to more strategic tasks. 

Simply put, recurring billing software is an essential tool for any SaaS business aiming to simplify its operations. To help you find the perfect fit for your needs, we've compiled a list of the 13 best recurring billing software solutions available today. Here’s a quick glance:

1. Orb — a flexible platform for usage-based billing with transparent invoices
2. Chargebee — User-friendly recurring billing with strong dunning management
3. Recurly — Prioritizes customer retention with advanced analytics
4. Zoho Billing — Affordable recurring billing integrated with the Zoho suite
5. Square Subscriptions — Simple recurring billing for online and in-person sales
6. BillingPlatform — Highly customizable recurring billing for enterprises
7. Service Provider Pro — Recurring billing and client management for agencies
8. ChargeOver — Flexible recurring billing with robust API and integrations
9. Maxio — Recurring billing and revenue management for B2B SaaS.
10. Billsby — Simple and user-friendly recurring billing with self-service features
11. PayWhirl — Embeddable recurring billing for seamless checkout experiences
12. Younium — Modern recurring billing with advanced data analysis
13. Stax Bill — All-in-one payment processing and recurring billing solution

The 13 best recurring billing software solutions for SaaS 

1. Orb

Orb is a done-for-you billing platform specifically designed to handle usage-based billing. Orb truly shines when it comes to metering usage. It calculates costs in real-time and provides detailed, transparent invoices.

It’s a perfect fit for SaaS companies with complex pricing structures or those looking to adopt a usage-based model.

Key features

• Usage-based billing: Orb's architecture is built to ingest and process massive amounts of usage data. It allows you to charge customers based on their actual consumption.
• Flexible pricing options: Easily implement tiered pricing, volume discounts, and other sophisticated pricing strategies.
• Real-time invoicing: Generate accurate invoices instantly, reflecting the most up-to-date usage data.

Benefits

• Flexibility: Orb lets you create billing models that align with your customer's needs and usage patterns. 
• More transparency: Provide customers with breakdowns of their usage and costs, reducing disputes.
• Improved accuracy: Orb acts as a single source of truth for your revenue data, ensuring compliance and minimizing errors.

With Orb, you can embrace usage-based pricing, knowing that your recurring billing is handled with precision.

2. Chargebee

Chargebee is a popular recurring billing software known for its sleek interface and robust feature set. It's a great option for businesses of all sizes, offering a good balance of ease of use and advanced functionality. 

Chargebee simplifies subscription management, automates invoicing, and integrates with many business tools. It's particularly strong in dunning management. It helps users reduce involuntary churn by automating payment reminders and retries.

3. Recurly

Recurly is another leading recurring billing software that prioritizes customer retention. It offers a robust set of features for managing subscriptions, automating invoices, and reducing churn. 

Recurly's analytics capabilities primarily focus on billing and subscription insights. Advanced analytics on broader subscriber behavior often require additional integrations.

4. Zoho Billing

Zoho Billing is a recurring billing solution that's part of the broader Zoho ecosystem of business applications. It's a good choice for small to medium-sized businesses (SMBs) looking for an affordable and integrated solution. 

Zoho Billing offers core recurring billing features. These features include automated invoicing, subscription management, and online payments. Its tight integration with other Zoho apps, such as Zoho CRM and Zoho Books, makes it a seamless addition to your existing workflow.

5. Square Subscriptions

Square Subscriptions is a recurring billing solution that's good for companies both online and offline. It offers a simple way to manage subscriptions, process recurring payments, and track customer data.

Square Subscriptions integrates directly with Square's point-of-sale (POS) system. This feature makes it a good choice for businesses that also accept payments in person. Its focus on ease of use and affordability makes it a popular option for smaller businesses and startups.

6. BillingPlatform

BillingPlatform is a robust recurring billing and revenue management solution. It's designed for enterprise-level businesses with complex billing needs. It offers a high degree of customization, allowing you to tailor the platform to your specific requirements.

BillingPlatform supports a wide range of billing models. These models include subscription-based, usage-based, and hybrid models. Its advanced reporting capabilities provide key insights into your revenue streams, too.

7. Service Provider Pro (SPP)

Service Provider Pro is a client management platform with recurring billing features. It's designed specifically for agencies and service providers. It offers a complete suite of features for managing clients, projects, invoices, and payments. 

SPP's focus on automation and client communication makes it a good choice for firms that want to simplify their operations. Its white-label capabilities allow you to customize the platform to match your brand identity.

8. ChargeOver

ChargeOver is a recurring billing software that caters to those with complex recurring billing needs. It offers a high degree of customization, allowing you to tailor the platform to your requirements. 

ChargeOver supports a wide range of billing scenarios. These scenarios include subscriptions, metered billing, and one-time invoices. Its robust API and extensive integrations make it a good choice for businesses that need to connect with other business systems.

9. Maxio

Maxio is a recurring billing and revenue management platform designed for high-growth B2B SaaS clients. It has features for managing subscriptions, automating revenue recognition, and getting financial insights. 

Maxio's focus on GAAP compliance and revenue recognition makes it good for companies that need precise reporting. Its advanced analytics and reporting capabilities provide valuable insights into your business performance.

10. Billsby

Billsby is a recurring billing and subscription management platform that puts simplicity and ease of use first. It offers a straightforward way to manage subscriptions, automate invoicing, and process payments. 

Billsby's interface and simplified workflows make it a solid choice for companies new to recurring billing. Its focus on self-service helps users manage their subscriptions and update their payment info.

11. PayWhirl

PayWhirl is a recurring billing solution that's designed to be embedded directly into your website or app. This feature allows you to create a seamless checkout experience for your customers.

PayWhirl offers features for managing subscriptions, processing payments, and customizing the checkout process. Its focus on flexibility makes it a good choice for companies that want to tailor their billing experience to a specific type of customer. 

12. Younium

Younium is a modern subscription billing software platform designed for B2B SaaS businesses. It offers features for managing subscriptions, automating invoicing, and analyzing revenue. 

Younium offers data analysis features. However, advanced data visualization and BI capabilities require integration with third-party tools, depending on the specific business requirements.

13. Stax Bill

Stax Bill is a recurring billing solution part of the Stax platform. It also offers payment processing and other financial services. It's a good choice for businesses looking for an all-in-one solution for their payment and billing needs. 

Stax Bill offers core recurring billing features. These features include automated invoicing, subscription management, and dunning management. Its integration with the Stax platform provides access to extra features, such as advanced reporting. 

Usage-based billing: A more advanced form of recurring billing

Traditional recurring billing models often rely on fixed subscriptions. Customers pay a set price for access to your software, regardless of how much they use it. But what if you could align your pricing with actual customer value and usage? That's where usage-based billing comes in.

It’s a dynamic model that charges customers based on their activity within your SaaS product. Whether it's the number of API calls, documents processed, or storage consumed, usage-based billing allows you to measure and monetize the value your customers derive from your service.

Orb is a leader in this space. Its recurring billing software is designed to handle the intricacies of usage-based pricing with ease. 

Orb's platform ingests and processes massive amounts of usage data and allows you to charge customers with precision, based consumption within a recurring schedule.

Here's how Orb's approach differs from traditional recurring billing models:

• Better customer alignment: With usage-based billing, customers only pay for what they use. This approach leads to a fairer and more transparent pricing experience.
• Greater revenue growth: By aligning pricing with value, you can unlock new revenue streams. This strategy can lead to higher average revenue per user (ARPU) and overall revenue growth.
• Adaptability: Orb lets users create customized billing models that adapt to their users' usage patterns. This level of flexibility is often not possible with traditional recurring billing systems.

Orb's advanced billing capabilities make it a top choice for SaaS businesses looking to:

• Monetize API usage: Accurately track and bill for API calls. Orb enables you to monetize your developer platform effectively.
• Implement tiered pricing: Create pricing tiers based on usage. Offer volume discounts and incentivize higher usage.
• Charge for premium features: Offer optional features or add-ons that are billed based on usage. Orb helps you provide customers with greater choice and flexibility.

We've explored a range of recurring billing software solutions for SaaS, each with its own strengths. 

Orb’s usage-based billing supports scalable recurring billing

For a truly complete solution, particularly for usage-based billing, consider Orb. Orb allows you to design and implement pricing strategies that capture the value your customers get. Orb goes beyond what recurring billing software solutions can do. 

SaaS companies like Perplexity and Vercel rely on Orb to drive revenue growth and deliver superior experiences.

Curious to see how Orb can transform your billing process? Start a free 30-day trial and experience the power of Orb's platform firsthand. See our pricing options and discover how Orb can simplify your operations and unlock new revenue opportunities.