TL;DR
- You're in the right place if you're searching for the best usage-based billing software to power your business in 2024.
- Our detailed guide covers a range of software options, each with unique features to suit different business needs.
- Togai offers a flexible, event-based architecture for easy pricing model management, while Octane simplifies payment customization with a no-code approach.
- Recurly is designed for businesses tracking recurring bill payments, and Onebill is perfect for managing complex subscription services.
- Stripe's billing engine is integrated with a comprehensive payment stack, and BillingPlatform is renowned for its flexibility in monetizing any product.
- Aria Systems focuses on subscription-based products, Zuora Billing streamlines subscription deal management, and Chargebee is a global choice for SaaS businesses.
- Zoho Billing manages the entire customer lifecycle, Metronome caters to scaling software companies, Amberflo emphasizes transparency in usage-based pricing, and WithOrb is built for complex pricing models.
- Togai cuts launch time from months to days, significantly speeds up the implementation of pricing strategies, and enhances customer satisfaction.
Ask yourself where usage-based billing or metered billing was a decade ago. It was almost nonexistent. Fast-forward to 2023, and it is virtually omnipresent. From internet services to data storage, streaming services, water, and electricity, usage-based billing rules the roost.
Usage-based or metered billing software allows companies to bill customers based on usage rather than flat subscription rates or one-time fees.
The evolution of usage-based billing coincided with the emergence of the cloud and software as a service (SaaS) solutions, laying the groundwork for our current state and leading to crossroads where SaaS, usage-based billing, and the Internet of Things converge. The rise of technology is another undeniable factor driving the growth of subscription-based models- a trend bolstered by usage-based billing.
Our blog lists the top usage-based billing software in 2024. We uncover each software’s features, pros, cons, and pricing details to help you make the best choice for your business. Let’s get started.
Top Usage-based Billing Software to Power Your Business in 2024
1. Togai
Togai is a monetization platform for businesses seeking pricing and billing strategies without relying on engineering resources. This cloud-based metering and pricing platform is packed with amazing features, such as:
- Real-time tracking and metering of usage.
- Ability to customize your pricing models
- Automated internal billing workflows
- User-friendly interface to manage pricing-related tasks
- Actionable insights for data-based pricing decisions
- Customizable for any use case to create bespoke pricing
- Entitlements enhance Togai’s range of solutions
- Availability of pricing models such as tiered pricing, discounts, usage-based pricing, etc.
Togai’s “Event-based” architecture allows businesses to easily implement and manage flexible pricing models. Other advantages of Togai include:
- Seamless integration with your existing workflows and tech stacks
- Automated billing processes that remove the need for manual work
- Improved accuracy and fewer chances of billing disputes
- Easy connection to quote-to-cash systems without any coding
- More efficient, accurate, and hassle-free
- Allows businesses to align entitlements with pricing strategies, set usage limits, and map features to plans.
2. Octane
Octane is a drop-in metered billing software for businesses. This usage-based billing platform allows users to customize their payment systems and create price plans billable on usage with zero code. With just a click of a button, you can enjoy Octane’s methods, base rates, trials, add-ons, and discounts.
Octane has other features, such as:
- Real-time accounting feature with details of customer expenses and usages.
- Shareable tailored dashboards and reports with customers.
- Automated billing for real-time tracking of usage events.
3. Recurly
Designed to help businesses track recurring bill payments, Recurly is the perfect solution for companies wanting to adapt to changing consumer preferences. The subscription management platform allows you to optimize your subscription platforms by configuring plans, pricing, trials, and promotions.
Benefits of Recurly
- Impressive Return on Investment within a few months.
- Support or complex billings using hybrid quantity-based, usage-based, and hybrid models.
- User-friendly and interactive user interface that simplifies the setup to under an hour.
- Automated processing to simplify everything.
4. Onebill
If you are a business offering subscription-based services, Onebill could be the right fit for you. This subscription management software supports one-time, subscription, and usage-based billing. It also boasts a robust customer support portal and instant activation. Furthermore, this billing tool is packed with other benefits. Using Onebill enables you to:
- Calculate large-scale subscriptions with precision.
- Generate invoices without any difficulty.
- Configure complex usage ratings and transactions with ease.
- Calculate and record customer-payable taxes and basic subscription fees.
Also Read: What powers Togai?
5. Stripe
Stripe Company’s Stripe billing is a recurring billing engine integrated with the Stripe platform, which is a perfect choice regardless of the size of your business. Here’s why:
- Allows you to generate recurring and one-time billings.
- Provides a complete stack for your payment requirements.
- Enables you to automate revenue recovery, payments, and subscription management.
- Enables invoice optimization and the addition of customer preferable payment methods.
6. BillingPlatform
An internationally renowned revenue lifecycle management platform, BillingPlatform rules as the only software that allows you to monetize any product, whether it is simple subscriptions or complex usage-based pricing models. BillingPlatform is a popular choice in media, finance, transportation, communications, and the software industry.
For usage-based billing, BillingPlatform supports every phase of the revenue lifecycle with its advanced cloud-based technology. By choosing this option, you gain the benefits of:
- Unparalleled flexibility
- Minimum operational costs
- Excellent customer service
- Higher profitability
7. Aria Systems
Aria is a cloud-native billing and monetization platform exclusively designed to empower businesses to launch usage and subscription-based products. Aria is popular for several reasons:
- Helps in transitioning from ownership to access and from one-time purchase to ongoing relationships.
- Simplifies signing up processes, trials, and availing of special offers for customers.
- Helps easy transition from freemium to paid subscription options or to advanced plans.
With Aria, generating a seamless and delightful purchasing journey, as well as reinforcing your brand's image, becomes effortless regardless of the sales platform.
8. Zuora Billing
Zuora Billing is a top-notch subscription billing software that facilitates the successful launch of various pricing models and the unification of revenue streams. Zuora Configure Price Quote streamlines subscription deal management across channels and simplifies quote configuration for enterprise deals. The platform has thoughtfully categorized each package to perfectly meet the unique needs of potential subscribers. Also, the platform’s robust security is excellent if you are a business managing millions of subscribers and quote-to-revenue collections.
Zuora offers a host of benefits for users. The platform enables:
- Easy launching, monetization, and optimization of services within a short time frame.
- Quick preparation of business structures to acquire new customers, fulfill customer needs, and prioritize customer satisfaction.
9. Chargebee
Chargebee could be your best bet if you are a SaaS business looking to streamline your revenue operations. This recurring billing platform is a global choice because it:
- Integrates with leading payment gateways like Braintree, Stripe, and PayPal.
- Automates email notifications, invoicing processes, and recurring payment collections.
- Enables price changes, discounts, and promotions without needing a developer.
10. Zoho Billing
This powerful subscription platform is a boon for businesses seeking a solution to manage the entire customer life cycle. Zoho Billing offers:
- Recurring payments
- Payment gateways
- Subscription finance
- Subscription management metrics
- Comprehensive catalog to manage your products and services
- Pricing table widget to optimize sales strategies.
11. Metronome
Metronome offers effortless usage-based billing solutions, ideal for scaling software companies. Its flexibility handles complex pricing models without custom code, allowing companies to establish a robust billing infrastructure with minimal time and investment.
- Centralizes all billing operations in one place
- Manages consumption-based pricing and recurring payments
- User-friendly UI and API for easy pricing plan updates
- Enables rapid launch of pricing models and new products
- Seamless integration with existing workflows
- Automation of order-to-cash processes
- Real-time usage insights integrated into CRM
Companies leverage these features to build scalable and resilient billing infrastructure, driving customer value and efficiency.
12. Amberflo
Amberflo assists SaaS companies in transitioning to a fair and transparent business model through usage-based pricing and meeting customer billing expectations. Key features include:
- Supports hybrid, prepaid, and pay-as-you-go plans effortlessly from the UI or programmatically through API.
- Enables companies to generate metered, precise invoices at the end of billing cycles, ensuring transparency.
- Allows companies to track earned revenue in real-time, enhancing financial visibility.
- Displays customer system-generated events in the current billing cycle for reporting and analytics purposes.
- Provides real-time alerts for end-users to stay informed about their usage and spending.
- Offers continuous 24/7 visibility for companies to monitor usage patterns, changes, and milestone events.
- Seamlessly integrates with existing technology stacks through language-specific SDKs and third-party system integrations.
- Facilitates the swift deployment of a standardized metering platform and framework for enhanced efficiency.
13. WithOrb
Orb, a usage-based billing platform designed for complex pricing models, offers the below key features:
- Highly scalable data infrastructure for real-time usage tracking
- Flexible billing engine accommodating any pricing model
- Native invoicing experience prioritizing transparency
Orb's platform is mission-critical for revenue, emphasizing accuracy and performance. It innovates billing processes by providing:
- Real-time visibility into consumption
- Transition from manual and error-prone processes to a transparent experience
- Integration offering a real-time view of customer usage metrics embedded into their own dashboards
Let’s Wrap Up
Billing is a core component for subscription-based businesses. While there are many options for your billing purposes, Togai’s Usage-based Metering and Billing Software is a better choice as it:
- Optimizes your billing processes.
- Boosts customer satisfaction.
- Is customizable for any use case to create bespoke pricing.
- Helps implement any pricing strategy ten times faster, which, in other words, is less than a day. ( It is usually a year-long effort.)
In essence, by selecting Togai, you are embracing excellence. Try Togai today! Take your usage-based billing to new heights and achieve success!
