Recurring revenue in Pipedrive is available for testing!
Hello all,
I am happy to extend an invitation for you to be among the first ones to start using Recurring revenue feature of Pipedrive.
It is best suited at the moment for recurring revenue business models, meaning equal payment amounts over certain period of time.
We provide you an overview of your current total MRR and also how has your MRR change - expansion, contraction, churn.
Learn more: https://support.pipedrive.com/hc/en-us/articles/360006765278
If you are interested in getting access to the feature, feel free to reach out to my email: kirill.grebtsov@pipedrive.com
Comments
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Excellent news! This is the feature I have been waiting for a long time!
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@Mateusz Pliszka at the end of the post it says to please email Kirill at kirill.grebtsov@pipedrive.com to get access
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This will be an awesome feature!
A few questions:- You mentioned in our email that there would be something like setting for "open end" contracts. Where do I find it? I would expect an "End date" or a check box next to the Number of payments.
- The Description is meant for the name of the product, right? Wouldn't it make sense to connect the Pipedrive Products?
- How do I "upgrade" the recurring revenue? So if you are tracking the sales of Pipedrive Licenses: How can you track, that a customer moves to another plan? And how if he adds seats? Would I have to overwrite the information? Would this change the past statistics? Or would I have to create a new deal and stop subscription?
I just found the stats in the insights! This looks really nice!
0 - You mentioned in our email that there would be something like setting for "open end" contracts. Where do I find it? I would expect an "End date" or a check box next to the Number of payments.
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Dan said:
Does this do credit card processing?
You mean, if you add a recurring revenue, the customers credit card will be charged automatically?If this works Kirill will get a marriage proposal from me...
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hi, can I join the recurring revenue test?
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Dan said:
Does this do credit card processing?
@Dan Murphy no it does not, but I have been hearing about need for integration with stripe or recurly to reflect payment data there as well.
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Michiel Vermeulen said:
hi, can I join the recurring revenue test?
@Michiel Vermeulen please email at kirill.grebtsov@pipedrive.com
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Bernd Auer said:
This will be an awesome feature!
A few questions:- You mentioned in our email that there would be something like setting for "open end" contracts. Where do I find it? I would expect an "End date" or a check box next to the Number of payments.
- The Description is meant for the name of the product, right? Wouldn't it make sense to connect the Pipedrive Products?
- How do I "upgrade" the recurring revenue? So if you are tracking the sales of Pipedrive Licenses: How can you track, that a customer moves to another plan? And how if he adds seats? Would I have to overwrite the information? Would this change the past statistics? Or would I have to create a new deal and stop subscription?
I just found the stats in the insights! This looks really nice!
Thank you for looking into feature! Here are some replies:
- Open ended subscriptions - we had a hiccup getting them live timely, but we are working hard to deliver them asap.
- It might be name of the product or something else in case user doesn't use Pipedrive's product feature. This being said we do understand the need to have deeper integration for those of our users who have went through setting up Product catalogue and I can assure you that we have plans to include Products feature in recurring revenue formation
- You can ended upgrade recurring revenue. If you go to deal view and click on pencil icon on revenue block you will get the edit window. In the window you can change the recurring revenue amount and effective date. Pipedrive will then automatically calculate the type of change whether it is an expansion or contraction of the revenue and update future/past payment depending on the effective date. Then for those of our customer on the Professional plan it will update the Recurring revenue growth report to show appropriate change amount either as expansion or contraction.
0 - You mentioned in our email that there would be something like setting for "open end" contracts. Where do I find it? I would expect an "End date" or a check box next to the Number of payments.
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Michiel Vermeulen said:
hi, can I join the recurring revenue test?
Sure @Michiel Vermeulen just email me
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Also, adding some documentation for those in need of help to figure out how it works: https://support.pipedrive.com/hc/en-us/articles/360006765278
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This feature will be very helpful for us. Is there a way to currently filter for deals that have a subscription added? I do not see any filters and the insights report does also not give me a list of deals.
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Good day, Kirill
May I ask you to please include me in the beta?
I would be happy to contribute.
Joseph Valenti
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Hi @Kirill Grebtsov - great that Pipedrive is starting with this but I am concerned it has problems at its core which you’ll not be able to change later on.
Below is a link to what I think these issues are and it would be good to understand your thoughts.
I am about to add another point which is that if you use my method, and do a proper Xero integration (insert any accounting software) so that you can push products into and invoice, then you could also have the payment status of every recurring invoice And onve off invoice Without multiple integration.
All CRM’s do it this way and it works!
https://community.pipedrive.com/post/5e8b40db68669a29bc98a24a
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Hello,
this is a good idea to include those KPIs! Very helpful!
However, I have a question : My interval of billing is mostly annual and I precised this on the billing planon pipedrive. However, I feel like in the graph, I get my new ARR every month instead of the total MRR (my annual revenue smoothed over the year)
Example :
- March : First customer "X" = $12K a year
- April : Second customer "Y" = $36K a year
- April : Third customer "Z" = 24K a year
>>> What Pipedrive proposes :
- March : $12K
- April : $60K ($36K + $24K)
>>> What I was expecting :
- March : $1K (12K / 12 months)
- April : $6K (36K/12 months + 24K/12 months + 1K)
Is it on purpose? Am I doing a mistake expecting those results?
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Auriane Berthon said:
Hello,
this is a good idea to include those KPIs! Very helpful!
However, I have a question : My interval of billing is mostly annual and I precised this on the billing planon pipedrive. However, I feel like in the graph, I get my new ARR every month instead of the total MRR (my annual revenue smoothed over the year)
Example :
- March : First customer "X" = $12K a year
- April : Second customer "Y" = $36K a year
- April : Third customer "Z" = 24K a year
>>> What Pipedrive proposes :
- March : $12K
- April : $60K ($36K + $24K)
>>> What I was expecting :
- March : $1K (12K / 12 months)
- April : $6K (36K/12 months + 24K/12 months + 1K)
Is it on purpose? Am I doing a mistake expecting those results?
@Auriane Berthon hello!
Can you please email me screenshots of your recurring revenue setups and report to kirill.grebtsov@gmail.com, more details will help me to understand is there something wrong. Thank you for your patience and trying new features!
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What about beeing able to adjust the prices on a regular basis? Say each year for example?
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Hi Kirill, great, looking good so far. I am testing the recurring feature option. As we are in recruitment and are billing retainers (i.e. in our case: 3 installments at various time points - though a periodic setting like monthly would be fine for revenue forecast - with individual price tags) is there a chance this is coming too? We would need to be able to tick / book each installment once it is being billed to then accurately reflect our earnings.
Any chance this is coming too? I guess this might be also very useful for a lot of consulting / freelancer businesses as there are often retainer (or similar) payments.
Thanks, Christian
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Christian Finke said:
Hi Kirill, great, looking good so far. I am testing the recurring feature option. As we are in recruitment and are billing retainers (i.e. in our case: 3 installments at various time points - though a periodic setting like monthly would be fine for revenue forecast - with individual price tags) is there a chance this is coming too? We would need to be able to tick / book each installment once it is being billed to then accurately reflect our earnings.
Any chance this is coming too? I guess this might be also very useful for a lot of consulting / freelancer businesses as there are often retainer (or similar) payments.
Thanks, Christian
Hi Christian,
Thank you for taking time to test new functionalities. I am happy to confirm that we want to support also installments with various dates and amounts. For tracking payments themselves, it's not actively on the table at the current point in time. I will post an update to this group once this new functionality is available.
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Christian Finke said:
Hi Kirill, great, looking good so far. I am testing the recurring feature option. As we are in recruitment and are billing retainers (i.e. in our case: 3 installments at various time points - though a periodic setting like monthly would be fine for revenue forecast - with individual price tags) is there a chance this is coming too? We would need to be able to tick / book each installment once it is being billed to then accurately reflect our earnings.
Any chance this is coming too? I guess this might be also very useful for a lot of consulting / freelancer businesses as there are often retainer (or similar) payments.
Thanks, Christian
Great, that sounds good! Do you have an approximate time when this will be ready to test?
(We are currently tracking our installments in Google sheets and would love to have all in one place, i.e. Pipedrive, so would refrain from using a workaround now in PD to reflect it)
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Christian Finke said:
Hi Kirill, great, looking good so far. I am testing the recurring feature option. As we are in recruitment and are billing retainers (i.e. in our case: 3 installments at various time points - though a periodic setting like monthly would be fine for revenue forecast - with individual price tags) is there a chance this is coming too? We would need to be able to tick / book each installment once it is being billed to then accurately reflect our earnings.
Any chance this is coming too? I guess this might be also very useful for a lot of consulting / freelancer businesses as there are often retainer (or similar) payments.
Thanks, Christian
@Christian Finke hopefully in the beginning of summer we will be able to add such options, but it's all subject to change as we continue the design and development process.
Would you mind telling me though what your expectations are toward the statistics on such installments?
What KPIs in regards with installments do you track right now? If you feel more comfortable sharing it privately, you can drop a line to krill.grebtsov@pipedrive.com
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Hi guys, great news to see recurrent revenues (finally) coming to Pipedrive (I have requested this when I started using your system more than 2 years ago). By when do you think this feature will go live and can you also please add me to the beta test? I hope this will be a general feature rather than just for the "premium" subscribers.
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Christian Finke said:
Hi Kirill, great, looking good so far. I am testing the recurring feature option. As we are in recruitment and are billing retainers (i.e. in our case: 3 installments at various time points - though a periodic setting like monthly would be fine for revenue forecast - with individual price tags) is there a chance this is coming too? We would need to be able to tick / book each installment once it is being billed to then accurately reflect our earnings.
Any chance this is coming too? I guess this might be also very useful for a lot of consulting / freelancer businesses as there are often retainer (or similar) payments.
Thanks, Christian
@Kirill Grebtsov sure, in this regard, we are basically looking (and are currently tracking in Google sheets) to have the installments in PD reflect accurately our revenue forecast as to the date that is set for each installment with various amounts (e.g. 1. inst: 5. May - 2. inst: 18. June - 3. inst: 2. September). Once we receive the payment for each installment we have conditional formatting in Google sheet to reflect the change between forecast and actual earnings. (as the installments might come in earlier or later than the set dates, based on how the project goes, obviously we then know what we have actually in our pocket)
As of Pipedrive workflow, ideally we would like to:
- Setup a deal with installments
- mark the deal as WON as to reflect won deals accurately (not idle in PD pipeline)
- be able to track the installments in Insights tab (recurring revenue section or then "installments section") for revenue forecast
- being able to go back into the deal and "tick off" (check box maybe?) each installment once payment is in
- being able to delete (or NULL) an installment if project ends early
Does that make sense / would that be feasible? Thanks and have a nice weekend!
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Sina Kagieni said:
This feature will be very helpful for us. Is there a way to currently filter for deals that have a subscription added? I do not see any filters and the insights report does also not give me a list of deals.
I was looking for it as well. At the moment you do only get a list if you click on the report of the insights which is only available if you have a professional license. I was surprised as well...
https://community.pipedrive.com/post/5ea858865e7ad017f8f3c1670 -
Hi @Kirill Grebtsov ,
first of all a big compliment for the current status of the Recurring Revenue Feature.
Could you give me a little insight into the logic you are following with this feature?
Currently I have the problem that when I make a deal that includes a Recurring Revenue product, the deal doesn't have that value.
In a company there are of course always sales that are one-time sales or subscription sales. Therefore it makes sense to see them separately in the analysis. But when I look at the dashboard e.g. the deals won this week, I would like to also see the subscription revenues won. I also think it is desirable that a subscription only starts when I win the deal. To my understanding it starts right away at the moment.
My suggestion here would be, that I can simply mark a product in the deal as Subscription or Recurring Revenue so that all other logics fit again.
This would make the deal represent the right value and I would see the corresponding value in the dashboard/reporting when the deal is won.
Looking very forward to your answer as this is a crutial feature for us to switch to pipedrive with our whole sales team.
All the Best!
Lukas
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Hello All,
I am looking for couple of people who have recurring revenue based business model to help me test one prototype that has to do with how should recurring revenue be reflected in deals value in Pipedrive. Please respond to this message if you are up for a short call with me.
Kirill,
Product manager @ Pipedrive
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