The subscription market is booming.
According to UBS, the global market will grow from roughly US$650 billion to US$1.5 trillion by 2025, implying a compound annual growth rate of 18%.
As more companies see the benefits of recurring revenue rather than one-time transactions, subscriptions are becoming an increasingly attractive business model that generates steady cash flow and customer loyalty.
As we looked at the subscription market’s growth, we recognized a tremendous opportunity for eLabs to capitalize on the demand for billing technology that provides fast-growing companies with strategic, tactical, and financial flexibility.
Companies need a subscription billing platform that can seamlessly handle ongoing sales, promotions, new product launches, and onboarding customers and integrate with existing technology to succeed and establish a competitive edge.
We have been in the recurring revenue business for more than 20 years working with small, fast-growing businesses and Fortune 500 companies. Our corporate roots are deep in the telecom sector, which has leveraged a subscription model for decades.
When you think about telecom companies offering products like local service, long-distance packages based on time of day, length of calls, and countries, you can understand how they needed a robust billing platform.
After years of working with clients with complex billing requirements, we are incredibly excited to offer our flexible and scalable platform-as-a-service for small to mid-sized subscription-based companies.
BOSS40 is flexible, supports different subscription models, automates critical processes, and seamlessly integrates with your existing workflows, systems, payment gateways, and legacy payment platforms.
It automates and streamlines high-volume and time-constrained subscription billing processing and delivers real-time visibility and predictability into the billing and collection process via custom dashboards and reports.
We’re focused on companies looking to upgrade their subscription billing capabilities. They are growing quickly and require a dependable, accurate platform that will scale as their business accelerates.
BOSS40 is an excellent solution for large companies looking to move into the subscription market. eLabs has the expertise, experience, and technology to seamlessly integrate with legacy enterprise systems like ERPs and MSPs.
While the subscription market is big and getting bigger, it’s arguably still early days. Nevertheless, the subscription model is difficult to resist because it delivers financial reliability and meets customers’ needs looking for new ways to purchase products and services.
We’re excited about doing business in a market ripe with potential. Our deep industry experience and world-class platform make us the ideal partner for companies that want to seize a massive opportunity in front of them.
Learn more about how we can power your subscription billing.