Subscription-based services have become the most common operating mode. Since it doesn't require large initial investments, this method allows you to obtain a quality service without impacting your company's cash flow. However, many companies tend to take out multiple subscriptions, without thinking about cancelling those that are no longer needed. These "small" amounts can add up to a considerable sum. How can you best manage your subscriptions?
What is a subscription?
When we talk about subscriptions, we're not talking about electricity or telephone service, but about the various IT products and services that may or may not be used by the company. These products, known as SaaS (Software as a service), are generally adopted by companies in place of software with license acquisition, which requires a larger budget and greater IT skills.
Accounting software, office suites, spelling correction, antivirus, SERPs, etc. There are many products available as SaaS, and new ones are appearing all the time. As a result, companies often find themselves using duplicate software and paying twice for the same service.
How do I cancel an unused SaaS subscription?
Unlike insurance or telephony contracts, there is no specific legal framework for cancelling a SaaS subscription. Each software provider has its own CGV (Conditions Générales de Vente) in which termination clauses are stipulated.
Subscriptions can generally be cancelled at any time. However, some companies allow a period of one to several months before definitively suspending the service and therefore payment. Other providers require that some or all of the remaining instalments be paid before the contract anniversary date, especially if the subscription has been in force for a short time.
The contract can also include an automatic termination clause in the event of a reduction in the service provided by the service provider. In this case, you need to send a formal notice by registered mail, clearly specifying the points on which the service is to be reduced. If the service provider is unable to offer you a solution, he must terminate the contract, usually without penalty.
In any case, if one of the subscriptions you have taken out is no longer of use to your company or no longer meets your expectations, the first thing to do is to consult the General Terms and Conditions and, if necessary, contact the service provider. The service provider will then be able to recommend other products to meet your new needs, or advise you on how to cancel your subscription.
How can you optimize subscription management within your company?
The more subscriptions you have, the more complicated it becomes to manage them without making the operation time-consuming. But there are solutions to make managing them clearer and simpler for everyone.
01. Simplified payment with a virtual card
The virtual bank card is a new-generation bank card. It consists of a unique 16-digit card number, a validity date in MM/YY format and a 3-digit cryptogram. This information is generally communicated to the user by SMS, email or via a specific application.
This type of payment card is specially designed for remote payment. In the case of subscription management, this involves generating a virtual card for repeated use. Once the subscription amount has been entered, a virtual bank card specifically linked to this recurring transaction is generated. The data on this payment card cannot be used to pay for other purchases.
Bonus: as the card is specifically linked to the purchase, it's easier to track spending.
02. No more missing invoices with automatic retrieval
One of the main difficulties in managing subscriptions also lies in retrieving the associated invoices. Indeed, for this type of subscription, invoices are usually made available on a private space. If you have to download them all, the time spent on this task can end up being considerable. In the end, they get left behind.
By using a complete system such as theAnytime pro offer, which includes a bankless account, hardware and virtual prepaid cards and a management application, invoice retrieval is simplified. In fact, it's done automatically, and the invoice generated for each payment is automatically attached to the corresponding transaction. A solution that simplifies everyone's task, keeping you on track and saving you time.
Another advantage of using the application is that you can change the amount on the virtual card if the subscription fee changes. On the other hand, the service provider cannot decide to charge you more without informing you, since the card is generated for a specific amount. So there are no nasty surprises! Similarly, if you wish to cancel or suspend your contract, you can stop payment in just a few clicks.
While SaaS software is perfect for keeping up with the times by constantly benefiting from the latest updates and the most powerful software, managing it can quickly become a headache. That's why Anytime offers simplified management solutions for businesses. Whether you're an ambitious start-up or a company with several hundred employees, there's no doubt that every financial player has a role to play.
