How to Take Your Business Beyond Borders Through International Billing

The world is your oyster. Or, in the modern context, your global marketplace.

It’s no longer a collection of isolated markets, but a vibrant, interconnected ecosystem of consumers and businesses. The global marketplace presents opportunities of increased revenue, broader customer base, and greater brand recognition. With this potential comes a new set of challenges.

Venturing into international markets requires more than just translating your website and hoping for the best. Customers are demanding and picky, they expect you to fully meet their needs, including providing convenient payment options and seamless flow.

What It Takes to Enter the International Market

Scaling your business across borders opens doors to a wider customer base and increased revenue potential. While domestic billing systems might suffice for local operations, venturing beyond national borders requires a more sophisticated approach.

• Tracking currency fluctuations and exchange rates: Managing multiple currencies, tracking exchange rates, and ensuring accurate conversions for billing and invoicing can be a complex and time-consuming task.
• Providing a variety of payment methods and gateways: Different countries have their preferred payment methods, from cards to e-wallets, bank transfers, and mobile payments. Integration with various payment gateways requires technical expertise and is often time-consuming and costly.
• Consideration of linguistic and cultural differences: Billing documents, email notifications, and customer support materials need to be localized to cater to language and cultural preferences, ensuring clarity and positive customer interactions.
• Tax Compliance: Navigating the complexities of tax regulations across multiple countries is a daunting task. Different VAT rates, sales tax laws, and reporting requirements necessitate a robust system to ensure compliance and avoid costly penalties.

Beyond Borders, Beyond Complexities

Rainex is your international billing navigator. The billing and subscription management system is designed to empower businesses to expand their reach and conquer new markets.

Rainex emerges as a beacon of simplicity and efficiency in the international billing landscape, providing a comprehensive solution that addresses the unique challenges of global businesses.

1. Multi-Currency and Payment Gateway Support:

• • Multiple gateways: Rainex is integrated with a wide range of global payment gateways, including popular options such as PayPal and Stripe, as well as local payment providers. Streamlined management of all payments and consolidation of data into a single space is essential for efficient growth.
  • 135+ currencies: Support for practically all global currencies and smart routing removes barriers for international customers, allowing them to pay in their local currency without the hassle of currency conversions. This expanded accessibility opens up a wider market, increasing potential customers and revenue for your business.
  • Demanded payment methods: A wide range of proven payment methods, including ACH and QR codes, allow customers to choose their preferred ones, increasing convenience and boosting conversion rates.

2. Localization and Multilingual Capabilities:

• • Localized billing documents: Invoices, receipts, and statements are automatically translated into the appropriate language, improving customer comprehension and satisfaction.
  • Multilingual notifications: Rainex not only automates communication with customers, but also makes it as high-quality as possible by being multilingual. Keep your customers in the loop with a seamless global experience.
  • Localized self-service: The Rainex Customer Portal (more details below) is also your effective element for localizing products for specific markets. Multilinguality, complemented by flexible plan reflectivity settings in different currencies, ensures that the offer reaches your target audience.

3. Automated Invoicing and Tax Calculation:

• • Recurring billing: Automated recurring invoicing according to flexible settings relieves the ever-increasing workload of the team. In advance or at the end of the billing period (for autopayments), flat fee or per unit Rainex will generate and send any invoice to customers for you.
  • Compliance with global regulations: Rainex simplifies tax compliance by automating tax calculations based on specific geographic locations, product type and customer. This ensures billing accuracy and legal compliance.
  • Credit notes and refunds: Changes to subscriptions and cancellations are no longer your headache. Automatic generation of credit notes and adjustment invoices ensure seamless customer data accuracy. And full or partial refunds via the customer’s payment method require only a couple of clicks.

4. Flexible Subscription Management:

• • Flexible subscription plans: The ability to build various subscription tiers with different pricing, features and payment cycles empowers you to meet the needs of specific customer segments.
  • Cross-sale options: Extended versions of products and services through addons, charges, and single payments help to simultaneously improve customer satisfaction with the service and increase their average check.
  • Promotion: Flexible promotional tools can be the key to winning the market. Attract customers with different types of discounts customizable in Rainex, retain them with the value of your product.

5. Revenue Recovery Increase:

• • Payment reminders: Prefer to issue invoices earlier than the end of the billing period? Customizable reminders can help your customers remember to pay your invoice on time and keep your cash flow stable.
  • Dunning: Customer forgetfulness took over after all? Dunning, automatically activated when payment is not made on time, will kindly remind your customers of the late payment.
  • Intelligent retries: The rate of involuntary churn due to failed transactions, missing funds on the customer’s card, etc. will remain low! Rainex not only retries debits within your settings, but also notifies the customer of the failure.

On Top of the Smart Billing Platform

• Customer Portal: Make self-service your competitive advantage with the Rainex Customer Portal! A convenient and secure space for customers to select subscriptions, supplement them with addons and charges, track and pay invoices, and manage their payment information. This transparency builds customer trust in the business. And a custom, fully branded space, including CNAME, keeps customers engaged in your company’s ecosystem.
• Real-Time Analytics: Rainex provides valuable insights into global customer behavior, payment trends, and revenue performance, empowering you to make data-driven decisions for strategic growth. Monitor key performance indicators (KPIs) in real-time through intuitive customizable dashboards, allowing for quick analysis and decision-making.
• AI Lead generation Tool: Rainex not only helps you manage your current customers, but also find new ones. GetLeads is unique for a billing system to generate leads based on filters and a portrait of current customers, generate a personalized offer for the decision maker and trigger an automated mailing in LinkedIn. Full cycle of customer interaction in a single place!

By choosing Rainex, you:

• Reduce operational costs: For every 1,000 customers, you save up to 40 business hours for your managers on billing and payment tracking.
• Increase revenue and profitability: Upsale and cross-sale opportunities increase check amounts for an average of 25% of customers.
• Improve customer satisfaction: According to research, 75% of your customers would happily choose a self-service tool over interacting with customer support.
• Improve customer retention: Dunning reduces involuntary churn by 17-35%.
• Expand your market reach: Drive 89% increase in lead conversion with our AI tool to analyze customer portraits and better target your leads.
• Boost business agility: Rapid adaptability to the latest technologies increases the chances of taking a leading position in your niche.

Make the right decision for your business

Rainex emerges as a powerful ally, providing a comprehensive solution that empowers businesses to conquer international billing with ease, allowing them to focus on what matters most – growing their business and expanding their reach.

By automating and optimizing workflows, companies working with Rainex reduce operating costs by up to 40% while increasing profits by 30%.

Do not miss your chance to give your business a new boost of growth. Take 30 minutes for a demo and see if Rainex is exactly what you need to scale.