Before keylight developed a revolutionary subscription business platform, our teams worked for eight years implementing enterprise systems. We understand how to navigate the complexity of subscription projects and what it takes for them to be successful.

It's common to underestimate the details of a subscription project when there’s a world of similar billing tools and options for implementation available. That's why working with a vendor who doesn't simply provide a platform to revolutionize your tech stack, but works in partnership with you to implement it successfully, is the best way to get everything you need to optimize your business.  Without the right technology and support, we have seen multiple businesses get stuck in a business setup that does not meet their needs, or even abandon expensive transformation projects because budgets run out. 

In this article, we use our knowledge and expertise to look at the biggest risks involved in subscription projects and how to minimize them.

Perhaps the biggest pitfall for subscription businesses embarking on transformation projects is the lack of certainty. Usually companies are aware of a long list of desired capabilities, but the investment costs are big and there’s no guarantee that the project will drive business. That might mean they give it a go and hope for the best, or they revert to a very short project and think they will deal with the implications later. There is however a third option—and that's to work with someone who really does understand the process and can help you manage the rollout, which is what we do at keylight.

Stop battling with the list of requirements that your prospective system fills. Look at the system’s DNA to see if it's built to adapt to a changing list of requirements. As your business and the world around it grows, your requirement focuses will inevitably evolve, so an inbuilt platform flexibility is essential. In reality, most systems have the basic functions (like billing) sorted—what separates the wheat from the chaff is the ability to change and develop over time. 

To minimize risk, ask yourself the following questions:

• Which system is built with the future in mind, and which ones are only built to automate the finance processes you need now?
• Is it a billing tool or a business system that can quickly adapt for commercial strategies?
• Is it configuration-based and rule-based?
• Is it API-first?
• Does it collect good data?
  

Subscription businesses need a platform with pre-built subscription logic, not just billing functionality. This is a fundamental part of a platform's DNA—it can't be built onto it effectively. As recurring revenue is such a fundamental part of subscription businesses, getting this right from the start plays a major role in minimizing subscription project risk and maximizing long-term business success. Subscription logic that's unified across business functions is the key to automating business processes from commerce and billing, to accounting. When it's siloed and disconnected from self-service customer journeys, sales and partner sales, the user experience is compromised, errors occur and data is lost. Trying to customize that connection is often what causes subscription projects to be long, costly or to fail.

To minimize risk, ask yourself the following questions:

• Was the platform specifically designed for the unique requirements of subscription businesses?
• Was the platform built with the end-users in mind?
• Is the subscription logic unified across business functions?
• Is the sales person telling you that you can quickly build the missing logic? If so, walk away.