Release Roundup: Build the Foundations for Cost-Effective Growth
3 MIN READ
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Updated on September 3, 2024
Creating a growth-oriented cost-effective organization is the way forward. At Chargebee, we’ve been busy adding new capabilities to our product suite that help bring efficiency to existing workflows, automate processes end-to-end, and provide complete visibility into business performance.
With these features, you get 360-degree visibility into your subscriptions and revenue across channels, and the confidence to pursue your expansion goals while Chargebee takes care of the compliance heavy lifting.
Strengthen tax compliance while enhancing FinOps efficiency
What?
Multinational companies and subscription businesses that sell to geos outside of their home country get increased flexibility for tax automation and can now comply with reverse charge mandates.
Why?
Taxation complexities increase drastically when selling to businesses globally. This includes tax rate revisions at the country/state level, different tax payment liabilities for sellers and buyers, and other invoice-level mandates.
Manual tax management processes not only burden finance teams with calculations and compliance checks but are also highly error-prone. Automating these processes can save time, minimize errors, and make your finance teams more efficient.
How it helps
Chargebee Billing’s built-in taxation module and integrations with third-party software enable you to seamlessly manage tax profiles based on geo and automate all the way from calculation to filing and reporting.
With this release, you can
- Integrate Chargebee with Vertex O-Series software to calculate real-time tax rates based on product and customer codes and classes, apply them to invoices, and automate filing and reporting. Learn how to set it up here.
- Be compliant with reverse charge mandates for cross-border transactions by issuing a reverse charge/tax exemption note on invoices to indicate that the purchase taxes are to be paid by your customers.
- Ensure the tax rates are up-to-date and applied accurately by scheduling changes proactively. Leverage Chargebee’s bulk import and export options to update tax rates for multiple countries, states, pin codes, or even pin code ranges for all your tax profiles together.
Streamline your subscription operations across channels
What?
Chargebee provides a single hub for all your subscription data, making it effortless to track revenue. Whether it’s web or mobile channels, one-time in-app purchases, or subscriptions from multiple apps–Chargebee provides a unified view that enables you to accurately monitor top-performing channels, apps, and their revenue contributions.
Why?
Dealing with multi-channel subscription management comes with its own set of operational challenges mainly stemming from fragmented subscription data across systems.
Take OneStream Live for example, before using Chargebee, they had multiple systems to manage their web and mobile subscriptions resulting in siloed data, limited visibility into revenue analytics, and increased risk of errors due to manual intervention.
How it helps
With Chargebee, OneStream Live was able to get better visibility into their App Store and Play Store subscriptions and save 50-60% of the time spent on in-app purchase management and revenue tracking. Chargebee is now the single system of record for all their subscriptions across web and mobile channels.
With the latest updates, you can link multiple iOS and Android apps to a single Chargebee site and unify subscriptions by assigning app-specific plan IDs within a shared storefront. Moreover, you have the flexibility to record one-time purchases using our SDKs or APIs.
Learn more about one-time purchases for the Play Store and App Store here.
Introducing the Chargebee Tutorials Platform
We’re delighted to launch a new learning platform to help you integrate your tools better with Chargebee using APIs. With topics ranging from Checkout to Metered Billing, these tutorials help your Dev teams build robust revenue growth solutions for your business.
In addition to these updates, we’ve also introduced the following enhancements
- Chargebee now supports Stripe Financial Connections to help merchants instantly verify accounts to accept ACH Direct Debit payments and transfers.
- The Chargebee-Salesforce integration has received a bunch of updates that give you increased flexibility for subscription management. You can now pause, modify, or cancel subscriptions — as well as modify/delete scheduled cancellations — without leaving Salesforce.
That’s a wrap for this Release Roundup. If you have questions about any of the features above, reach out to your Chargebee representative and we’d be happy to assist.
In case you missed it, check out our Spring ’23 Product Release, where we announced features that provide businesses with the visibility and confidence they need to prioritize their focus, maximize cash flow and customer retention, and strategize for long-term growth.
With every release, we’re committed to adding new capabilities that help businesses increase customer LTV and grow their revenue in a sustainable way.
