The 5 best usage billing software for SaaS products | 2024

Alvaro Morales

Looking for usage billing software that fits your SaaS product’s needs like a glove? Tracking usage and billing users accordingly is no easy feat. It’s much easier if you’re using the right tooling. 

This list will give you a quick overview of the best usage billing software for SaaS companies in 2024. Read on and discover which ones are at the top and why. 

But first, we need to answer an important question…

Why opt for dedicated usage-based billing software?

Usage-based billing may sound good on paper, but it comes with its own set of challenges. That's where dedicated usage-based billing software swoops in to save the day. Here's why it's more than just a fancy tool:

  • It makes management easier: Usage-based billing isn't always a walk in the park. Think mountains of data and multiple billing scenarios. This software is built for wrangling all that complexity with ease so you can focus on building your core product.
  • It makes billing more accurate. Have you ever received a phone bill that raised an eyebrow? With dedicated software, billing accuracy is guaranteed. It tracks your customers' usage to the last detail, applies the right pricing, and minimizes those pesky errors.
  • It provides real-time billing: In the fast-paced world of SaaS, you need billing that can keep up. Dedicated software processes data in real time, resulting in potentially instant updates and notifications for your customers with full visibility.  
  • It eliminates the growing pains of scaling: As your customer base grows, your usage data will, too. Dedicated usage billing software is built to scale. It handles increased demand without missing a beat and helps you avoid issues like system downtime.
  • It integrates with your tech stack: Dedicated usage-based billing software integrates nicely with your tech stack. It also integrates with CRMs and ERPs to give you a complete picture of your customers and their financial interactions.
  • It provides clear-as-day billing transparency: No one likes a surprise on their bill. That's why this software provides detailed usage and billing reports. Your customers know exactly what they're paying for, which builds trust and keeps them returning for more.

Top usage billing software for SaaS products in 2024

Choosing the right billing software can make or break your SaaS business. It's the backbone of your revenue, so it's crucial to get it right. 

Here are five top contenders for 2024, each with unique strengths and a few quirks:

1. Orb

Orb is like the billing world's answer to a multi-tool. It's a platform designed to handle all sorts of usage-based billing scenarios, from simple billing to extremely complex scenarios. Whether you're charging per API call, gigabytes of storage, or anything in between, Orb's got your back.

Who it's good for: Orb shines brightest for B2B SaaS businesses, especially those with intricate pricing structures or high-volume usage events.

If you're a growing company that needs a billing solution that can scale alongside you, Orb is the strongest contender. It's also a favorite among finance teams who crave control and detailed reporting.

Pricing: Orb's pricing varies depending on need and event volume, and there’s a free sandbox to test-drive the platform. This transparency lets you see precisely how Orb can benefit your business before committing.

2. Recurly

Recurly is a billing platform whose primary focus is on customer retention. It offers advanced analytics and revenue insights. Recurly also has a highly effective dunning system to minimize involuntary churn.

Who it's suitable for: Recurly is a good option for SaaS companies facing churn issues and those needing revenue optimization. Its developer-friendly approach also allows for customization to fit specific business needs.

Pricing: Recurly offers a monthly starter plan for $249 (free for the first 12 months for new customers only). Higher-tier plans are available upon request.

3. Maxio

Maxio is a billing and financial operations platform tailored for B2B SaaS companies. It's designed to handle complex contract terms. It also automates revenue recognition (GAAP compliant) and provides in-depth financial reporting.

Who it's good for: Maxio is well-suited for B2B SaaS businesses. This platform is especially good for those with intricate billing agreements and teams with financial expertise. However, its complexity can be a drawback for smaller companies or those without a dedicated finance team.

Pricing: Maxio's pricing starts at $5,000 annually and varies based on your billing volume and chosen modules.

4. Zuora

Zuora is an enterprise-grade subscription and billing management platform. It’s designed for large, established businesses with complex billing needs. It offers many features and customization options but is infamous for its complexity and steep learning curve.

Who it's good for: Zuora is best suited for large enterprises with massive subscriber bases. Its extensive feature set may be overwhelming for smaller businesses or those who need more straightforward billing. 

Pricing: Zuora's pricing is available upon request. It’s typically tailored to the specific needs of each enterprise customer.

5. Chargebee

Chargebee is a subscription management platform. It's best known for its user-friendly interface and quick setup process. It offers various features for managing subscriptions, payments, and customer retention. It’s listed last because its usage-based billing functionalities aren’t its main appeal.

Who it's good for: Chargebee suits businesses of all sizes. However, it particularly appeals to those just starting or with simpler subscription models. Its dunning management features also make it a good fit for businesses with high churn rates.

Pricing: Chargebee offers a free starter plan until your billing exceeds $250,000 annually. Paid plans are available for larger businesses, but the pricing model includes overage fees.

Next steps

We've explored the top usage-based billing software options for 2024. You might be wondering which is the perfect fit for your SaaS journey. Based on our list, Orb stands out as a compelling choice. This is because it offers the ideal solution that tackles the unique challenges of usage billing software head-on.

Orb takes the reins of complex billing and invoicing processes. It solves billing for you, freeing up time and resources that can be better spent elsewhere. 

Here's a glimpse into why Orb is at the top of the list:

  • Flawless billing accuracy: Say goodbye to revenue leaks and billing discrepancies. Orb meticulously tracks every billable event. This helps you ensure you capture every ounce of value delivered to your customers. 
  • Pricing that grows with you: Easily craft and manage diverse pricing tiers as your business scales. Orb's plan versioning eliminates the headaches of data migration. It allows for seamless adjustments without disrupting your billing flow.
  • Granular usage insights: Orb's robust tracking capabilities transform raw usage data into insights. Whether you're billing for API calls or data storage, Orb gives you the granular visibility you need.
  • Effortless integration: Orb plays well with other tools. It integrates with your existing tech stack, including data warehouses and accounting software. This eliminates data silos and ensures a smooth, uninterrupted billing workflow.
  • Your billing, your rules: With Orb's intuitive interface and powerful customization options, you have complete control over how you define and measure customer usage. Craft bespoke pricing plans that perfectly align with your unique business model.

Learn how Orb can help you set up a hassle-free usage-based billing strategy.

June 13, 2024
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