Stripe Integration: using Stripe as a billing system/subscription management solution
If you use Stripe to handle your payments, then you can use ProfitWell. There are 2 types of use cases in general:
- For Stripe as a payment gateway, you are using Stripe to accept payments, but you manage your subscriptions on another platform. In this case, you can use ProfitWell for Retain and cash flow metrics only.
- For Stripe as a billing system/subscription management solution, you are both handling payments and managing subscriptions within Stripe. In this case, you can use ProfitWell for Metrics and Retain. Read below for more details.
Once you connect Stripe to ProfitWell, we will start receiving historical Stripe subscriptions event data. With this data, we build out your dashboards to help you understand your company's growth momentum over time. The metric we focus on is MRR. Through MRR, we look at your customer subscription activity changes on an individual level, as well as on a high level of trends.
If you have data that lives outside of your Stripe account, then you can always add these into ProfitWell manually in a variety of ways.
With the Stripe data ingested, here's a sneak peek of things you can do in ProfitWell:
- chase failed payments
- reduce active/voluntary churn
- predict customer churn
- sync subscription data with your CRM (HubSpot, Salesforce, Intercom, etc)
- benchmark your data against competitors
- recognize gaap revenue
Reach out on the chatbot below or at firstname.lastname@example.org if you have any questions!