What is meant by Subscription functions?
Subscription functions refer to various features related to subscriptions or recurring orders (also known as subscriptions).
Common ABO functions include:
- Subscription Management: The ability to create, edit, and manage subscriptions, including defining subscription plans, durations, and payment modalities.
- Automatic Renewal: The automatic renewal of subscriptions after the expiration of the current term unless the customer cancels. This ensures continuity and seamless use of services or products.
- Billing and Payment Processing: The processing of recurring payments, including automatic debits or invoicing according to the defined subscription plan.
- Customer Management: The management of customer profiles, including their subscription history, payment details, and contact information.
- Cancellation Management: The management of customer cancellations, including processing cancellation requests and providing options for customers who wish to end their subscription.
- Discount and Coupon Management: The ability to apply discounts, coupons, or special offers to subscriptions to attract or retain customers.
- Reporting and Analysis: Generating reports on subscription performance, revenue, cancellations, and other relevant metrics to gain insights into the success of subscription services.
- Automatic Notifications: Sending automatic notifications to customers regarding upcoming payments, subscription expirations, or other relevant events.
- Flexibility in Subscription Customization: The ability to flexibly adjust subscription plans to adapt to changing customer requirements or market trends.