Estimated learn time: 10 minutes, 29 seconds
All year long, gross sales and subscription administration groups juggle tons of or 1000’s of subscription upgrades, add-ons, and renewals throughout buyer accounts. Nevertheless, current options for producing pricing estimates for subscription modifications, securing inner approvals, and offering prospects with formal documentation are overwhelmingly handbook, cumbersome, and error-prone.
And with companies tightening their belts, one misunderstanding or misstep in the course of the improve or renewal course of can imply the distinction between a multiple-year contract and sudden buyer churn.
What if each buyer renewal—from estimate to bill—was predictable and seamless for everybody concerned?
That’s the imaginative and prescient behind FastSpring’s Proforma Bill API. Our proforma bill answer fosters subscription administration effectivity and transparency by automating the creation {of professional}, approval-ready invoices based mostly on current estimates from the FastSpring platform. Your prospects will admire the clear pricing breakdowns, and your go-to-market staff will love the flexibleness to accommodate numerous subscription fashions—eradicating the necessity for handbook calculations.
The outcome? Streamlined approval processes. Stronger buyer relationships. Predictable forecasting. And elevated income.
Answer Overview
Whether or not it’s an easy renewal, complicated improve situation, or mid-term adjustment, the Proforma Bill API delivers a sophisticated pre-invoice important for easy decision-making and execution.
By utilizing FastSprings Proforma Bill API, builders and technical gross sales leaders can keep away from:
- Handbook calculations and errors
- Confusion and buyer frustration
- Tedious workflows and misplaced productiveness
- Missed renewal alternatives and misplaced income
- Challenges with finances planning
- Rigid subscription administration
As an alternative, FastSpring’s new Proforma Bill API empowers income groups to:
Forecast Precisely. Create correct proforma invoices for subscription renewals, upgrades, downgrades, and add-ons to streamline budgeting and pre-approve prices.
Improve Renewal Charges. Present clear value breakdowns to cut back buyer confusion, friction, and potential delays and disputes.
Enhance Effectivity. Automate proforma bill technology, get rid of handbook calculation errors, and liberate workers for higher-value duties.
Streamline Approvals. Facilitate clear approval workflows for discounted pricing or customized phrases, accelerating the subscription administration course of.
Simplify Advanced Eventualities. Assist adaptable processes and API-driven integration for numerous subscription fashions and billing programs.
With readability and effectivity at its core, the Proforma Bill API offers builders the straightforward instruments to successfully companion with go-to-market groups and subscription managers to undertaking prices, safe inner approvals, and talk billing particulars to current prospects.
Now, let’s see our answer in motion.
Answer in Motion
FastSpring constructed its Proforma Bill API for builders, however the advantages are for everybody. When builders deploy the straightforward code, correct forecasting and expedited renewals get exponentially simpler.
When corporations expertise fast progress, managing versatile subscription phrases, together with period and reductions, will be difficult. With no correct system in place, this flexibility sometimes means handbook processes and, in flip, errors from handbook knowledge entry. Additional, when corporations don’t have a option to sync subscriptions and add-ons into their calculations, income monitoring can change into a nightmare—and renewals typically fall by the cracks.
Let’s study how a gross sales staff may use the Proforma Bill API to make sure buyer flexibility and most income for the enterprise.
Gross sales Consultant
Meet Steph. Steph is a top-performing gross sales consultant for Wizzle, a fictional firm that has skilled fast subscription progress over the previous few years. The gross sales staff hooked potential prospects within the early days by providing versatile subscription phrases, together with handbook renewals, deep reductions, and diversified time period lengths. Whereas this helped Wizzle develop its buyer base rapidly, it’s made renewals almost unimaginable for Steph to maintain up with.
Steph needs her prospects to have versatile choices, so she wants an answer to generate proforma renewal invoices with totally different time period lengths and pricing constructions, distinctive buyer reductions or negotiated charges, and provide promotions or prorated calculations.
To begin, Steph wants flexibility in renewal necessities. Prospects need to know if modifications will happen instantly or in the course of the subsequent billing cycle. Proforma Bill API permits both.
Right here, you’ll see the code for a subscription change that goes into impact in the course of the subsequent billing cycle. Notice the simplicity in figuring out the requested variety of models, the worth, the requested models for the add-on (and related value), and whether or not or not the brand new pricing is prorated for this billing cycle.
Subsequent Billing Cycle – Request
{
"subscription": "7oSTq-tZS9S0LoOpiPQL5w",
"product":"Normal"
"amount": 5,
"pricing": {
"worth": {
"USD": 10
}
},
"addons": [
{
"product": "Support Module",
"quantity": 5,
"pricing": {
"price": {
"USD": 7
}
}
}
],,
"prorate": false
}The code snippet is sort of equivalent if the brand new pricing is prorated. Discover that “Prorate” is false within the first snippet and true within the following code snippet.
Instant Software – Request
{
"subscription": "7oSTq-tZS9S0LoOpiPQL5w",
"product":"Normal"
"amount": 5,
"pricing": {
"worth": {
"USD": 10
}
},
"addons": [
{
"product": "Support Module",
"quantity": 5,
"pricing": {
"price": {
"USD": 7
}
}
}
],
"prorate": true
}While you embed this code into your current programs, your gross sales staff has a clear and easy expertise on the entrance finish. The gross sales consultant merely places the identify of the subscription into FastSpring, the requested amount, any add-ons, and whether or not or not the modifications are prorated—and the API will robotically generate an bill with correct calculations.
Subsequent Billing Cycle – Output
{
"proFormaInvoiceHeader": {
"proFormaInvoiceCreationDate": "2024-03-16",
"forex": "USD",
"timezone": "UTC",
"message": "This bill and the renewal quantity on the subsequent cost date are legitimate so long as there aren't any extra modifications to the subscription plan from as we speak's date till the subsequent cost date."
},
"contact": [
{
"type": "BILL-TO",
"email": "john.doe@cloudtech.com",
"firstname": "John",
"lastname": "Doe",
"phone": "555-987-6543",
"organization": {
"companyId": "550e8400-e29b-41d4-a716-446655440002",
"companyName": "CloudTech Solutions",
"department": {
"departmentId": "550e8400-e29b-41d4-a716-446655440003",
"departmentName": "Finance",
"departmentDescription": "Handles billing, invoicing, and payment processing."
}
},
"address": {
"id": "550e8400-e29b-41d4-a716-446655440006",
"addressLine1": "456 Shipping Lane",
"city": "Miami",
"region": "FL",
"postalCode": "33101",
"country": "USA"
}
},
{
"type": "SHIP-TO",
"email": "jane.smith@datametrics.com",
"firstname": "Jane",
"lastname": "Smith",
"phone": "555-123-4567",
"organization": {
"companyId": "550e8400-e29b-41d4-a716-446655440004",
"companyName": "DataMetrics Analytics",
"department": {
"departmentId": "550e8400-e29b-41d4-a716-446655440005",
"departmentName": "Operations",
"departmentDescription": "Manages the delivery and deployment of software services to customers."
}
},
"address": {
"id": "550e8400-e29b-41d4-a716-446655440007",
"addressLine1": "456 Shipping Lane",
"city": "Miami",
"region": "FL",
"postalCode": "33101",
"country": "USA"
},
"taxId": "123-tax-id"
}
],
"currentPlanSummary": {
"product": "Fundamental",
"billingFrequency": "1 month",
"worth": 8.50,
"amount": 1,
"nextChargeDate": "4/6/24",
"nextChargeAmount": 7.65
},
"proposedPlanSummary": {
"product": "Normal",
"billingFrequency": "1 month",
"worth": 50.00, // $10.00 monthly for five portions.
"amount": 5,
"nextChargeDate": "4/6/24",
"nextChargeAmount": 85.00 // $50 for Normal + $35 for Assist Module.
},
"objects": [
{
"product": "Standard Subscription",
"quantity": 5,
"price": 10.00,
"discount": 0.00,
"total": 50.00,
"proratedItemAmounts": null
},
{
"product": "Support Module",
"quantity": 5,
"price": 7.00,
"discount": 0.00,
"total": 35.00,
"proratedItemAmounts": null
}
],
"invoiceAmounts": {
"subtotal": 85.00,
"low cost": 0.00,
"tax": 0.00,
"complete": 85.00
}
}On this situation, the gross sales consultant needs to create an bill exhibiting an altered subscription amount on the subsequent billing cycle. Based mostly on the gross sales rep’s enter, the system robotically and immediately creates a proforma bill exhibiting the brand new expenses.
Instant Software – Output
{
"proFormaInvoiceHeader": {
"proFormaInvoiceCreationDate": "2024-03-17",
"forex": "USD",
"timezone": "America/New_York",
"message": "This bill displays quick modifications to the subscription plan, with prorated expenses relevant from the change date to the subsequent billing cycle."
},
"contact": [
{
"type": "BILL-TO",
"email": "john.doe@cloudtech.com",
"firstname": "John",
"lastname": "Doe",
"phone": "555-987-6543",
"organization": {
"companyId": "550e8400-e29b-41d4-a716-446655440002",
"companyName": "CloudTech Solutions",
"department": {
"departmentId": "550e8400-e29b-41d4-a716-446655440003",
"departmentName": "Finance",
"departmentDescription": "Handles billing, invoicing, and payment processing."
}
},
"address": {
"id": "550e8400-e29b-41d4-a716-446655440006",
"addressLine1": "456 Shipping Lane",
"city": "Miami",
"region": "FL",
"postalCode": "33101",
"country": "USA"
}
},
{
"type": "SHIP-TO",
"email": "jane.smith@datametrics.com",
"firstname": "Jane",
"lastname": "Smith",
"phone": "555-123-4567",
"organization": {
"companyId": "550e8400-e29b-41d4-a716-446655440004",
"companyName": "DataMetrics Analytics",
"department": {
"departmentId": "550e8400-e29b-41d4-a716-446655440005",
"departmentName": "Operations",
"departmentDescription": "Manages the delivery and deployment of software services to customers."
}
},
"address": {
"id": "550e8400-e29b-41d4-a716-446655440007",
"addressLine1": "456 Shipping Lane",
"city": "Miami",
"region": "FL",
"postalCode": "33101",
"country": "USA"
},
"taxId": "123-tax-id"
}
],
"currentPlanSummary": {
"product": "Fundamental",
"billingFrequency": "1 month",
"worth": 8.50,
"amount": 1,
"nextChargeDate": "4/6/24",
"nextChargeAmount": 7.65
},
"proposedPlanSummary": {
"product": "Normal",
"billingFrequency": "1 month",
"worth": 50.00,
"amount": 5,
"nextChargeDate": "4/6/24",
"nextChargeAmount": 85.00
},
"objects": [
{
"product": "Standard Subscription",
"quantity": 5,
"price": 10.00,
"total": 50.00,
"proratedItemAmounts": {
"proratedCharge": "35.00",
"proratedCredit": "0.00",
"proratedTax": "0.00",
"proratedAmount": 35.00
}
},
{
"product": "Support Module",
"quantity": 5,
"price": 7.00,
"total": 35.00,
"proratedItemAmounts": {
"proratedCharge": "24.50",
"proratedCredit": "0.00",
"proratedTax": "0.00",
"proratedAmount": 24.50
}
}
],
"invoiceAmounts": {
"subtotal": 85.00,
"low cost": 0.00,
"tax": 0.00,
"complete": 59.50
}
}On this situation, the gross sales rep needs to indicate the shopper the identical subscription change however with a prorated worth for August. In each eventualities, you may see how easy it is going to be for the gross sales rep to rapidly present the shopper a number of choices, making certain flexibility and a easy path to progress and renewal.
Conclusion
When companies scrutinize each price and subscription, a easy and speedy renewal course of will be all it takes to retain extra prospects. Nevertheless, that course of requires automation, accuracy, and transparency in all buyer communications—particularly concerning pricing for add-ons and renewals.
FastSpring’s Proforma Bill API removes the interior hassles, potential errors, and buyer frustrations inherent within the outdated method of managing invoices. By deploying easy strains of code in your current backend system, you may immediately empower groups to create correct proforma invoices for his or her prospects. Renewals that used to take weeks or months of negotiations can now take a number of days—and even a few hours.
There will probably be no extra back-and-forth, miscommunications, or frustrations. With FastSpring’s Proforma Bill API, prospects are pleased, and finance groups can precisely forecast and hit their numbers extra persistently. What extra may you ask for?
Braden Metal
Braden is the Senior Product Advertising and marketing Supervisor for FastSpring. When he is not bringing new merchandise to market, he spends his time writing fantasy novels.
