Recurring revenue on products!
If you are running a business with a recurring revenue model, such as SaaS, it would be good if you could add recurring revenue to products. As you create your new deal and select the appropriate product/s, that would then dictate the recurring revenue as well. It should be possible to then make changes on the deal if a special price is agreed to with the customer.
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Thank you for your feedback, @Isak Finér , we appreciate it!
I'd like to understand you use case a little better, can you give me a concrete example? Can be fictional, you don't have to reveal any confidential information about your business.
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Let's say we're selling a software product, such as yours.
For a new customer to get started the customer would pay "1000" to get started using the platform as a one-time fee.
Then there is a monthly subscription fee to use the software of "50" per month for ongoing access to the platform, support, etc.
This is a very common pricing model.
Now, in Pipedrive, when I set up my products I can't set a monthly recurring fee (which is the important one). It's like it was made for one-time transactions only.
I've understood that I can set a subscription on the deal, but then I will have to both choose the right product (which would give the one-time fee), but then also add a subscription. It would make more sense if the subscription fees were set on the product and automatically decided the subscription on the deal. And only if we would negotiate different terms for the deal we would change the standard values of the product on the deal.
I understand that this might not be useful if you have a "per user" pricing model as you do, becuase when you create the product you don't know how many users each deal will have, but many subscription model businesses do not have a per user, but a per installation model with a foreseeable monthly fee. For example there is a monthly maintanance and support contract that is an important part of the revenue from the customer.
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I agree that this would be good.
In our case, out clients pay $49 per month per licence. I would like to add a product that counts this on the monthly basis, and not a one off payment. Now, I have to create the deal and then update the subscription fields.
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well, actually... I was just to ask about this feature too!
Also our business model is based on a subscription fee.
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Isak Finér said:
Let's say we're selling a software product, such as yours.
For a new customer to get started the customer would pay "1000" to get started using the platform as a one-time fee.
Then there is a monthly subscription fee to use the software of "50" per month for ongoing access to the platform, support, etc.
This is a very common pricing model.
Now, in Pipedrive, when I set up my products I can't set a monthly recurring fee (which is the important one). It's like it was made for one-time transactions only.
I've understood that I can set a subscription on the deal, but then I will have to both choose the right product (which would give the one-time fee), but then also add a subscription. It would make more sense if the subscription fees were set on the product and automatically decided the subscription on the deal. And only if we would negotiate different terms for the deal we would change the standard values of the product on the deal.
I understand that this might not be useful if you have a "per user" pricing model as you do, becuase when you create the product you don't know how many users each deal will have, but many subscription model businesses do not have a per user, but a per installation model with a foreseeable monthly fee. For example there is a monthly maintanance and support contract that is an important part of the revenue from the customer.
Got it, thank you so much for clarifying @Isak Finér !
As far as I know, right now there are no concrete short term plans to make these improvements. Unfortunately with many customers and requests and with limited development resources we need to prioritise and make choices what to deliver first.
We will make sure however our team will consider your suggestions but we can never make any promises, although we wished we could.
Speaking of which, here are some pro tips to stay on top of things:
- Follow What's Planned to know what we're working on currently.
- Join our Research and Beta Testing channel to be the first to know what's coming up and the chance to try out early versions of new and improved features. 🚀
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This feature would be very beneficial. Currently we cannot utilise forecasting as we are a WISP who bills multiple subscriptions with differing contract terms. By tying this to the product level, it streamlines the process of adding services to customer accounts.
For example, we often bill as follows:
Monthly internet subscription: $79/mth over 36 months
Installation Instalments: $27/mth over 12 months
One-off fee for router: $120
Currently Pipedrive cannot cater to this type of billing arrangement without adding two deals for the same person.
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I agree with everyone,
This is currently a nightmare for companies like us selling products with multiple annual fees combined.
If we are selling a product with two annual fees, we have to create two deals for the same company, one for the product actual product based on a yearly subscription, one for the other fees like support & maintenance. We can also mention the fact that in the Insights, you can't even see what is the source of the recurring revenues, from which products ?
Integrating the revenue system directly into the product section would make more sense , this way for one offer, we could add multiple products with annual fees. We could even generate a proposal with Sales Document for recurring revenues aswell.0 -
Thank you for your input everyone! It really helps us identify pain points and make Pipedrive better. The team noted down your suggestion for when they'll work on updates again.
There are several improvements to Products planned for 2021, so stay tuned and thanks for sharing and your patience!
Here’s how to stay on top of what’s coming down the line:
- 🔮 Follow What's Planned to know what we're working on currently and what’s to come.
- 🌟 Follow What’s New and don’t miss any new releases.
- 🧪 Join our Research and Beta Testing channel for the chance to try out early versions and give us your opinion about new and improved features before they go live.
- 🔎 Learn all about any of Pipedrive’s features from our Knowledge Base tutorials in your preferred language and our Academy video courses. Simply search for your topic!
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Yes, we would love to be able to have recurring invoices and subscriptions
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Really needed. For now the recurring insight are really buggy.
I aslo wish everything can set Product as recurring (Hosting plans, Care plans, etc..)0 -
Inês Batata said:
Thank you for your input everyone! It really helps us identify pain points and make Pipedrive better. The team noted down your suggestion for when they'll work on updates again.
There are several improvements to Products planned for 2021, so stay tuned and thanks for sharing and your patience!
Here’s how to stay on top of what’s coming down the line:
- 🔮 Follow What's Planned to know what we're working on currently and what’s to come.
- 🌟 Follow What’s New and don’t miss any new releases.
- 🧪 Join our Research and Beta Testing channel for the chance to try out early versions and give us your opinion about new and improved features before they go live.
- 🔎 Learn all about any of Pipedrive’s features from our Knowledge Base tutorials in your preferred language and our Academy video courses. Simply search for your topic!
I don't see any changes made to the product section. Was this update released?
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Yes this is needed urgently. Recurring revenue is the standard now. The product feature and the recurring revenue ust need to become one thing. Why are they different.
We have Platinum, gold, silver subscriptions based on how many users you have. Those could be products but we need to invoice them every year.
OK so let's set it up as a subscription - I can't add any fields to this information so I can't set up gold, silver values associated with this. There is only a notes field😒. I want to add subscription and automate filling in the value based o that subscription and any other custom fields I need. i also need to be able to upsell other products.
Ok so I set up as a one off product - I can add in all the detail I want but can't get any visualisation of the reccuring income in another month
Neither option works
This feature is the one key thing that would make me move to another system if it isn't added soon. DO you have this on your roadmap? Without it I have to have custom automations in another system , custom integrations and it's expensive to manage those.
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