11/7/22- Total Retail- TLB

FastSpring Announces New Platform Features to Expand Support for the SaaS Market

Press Release from FastSpring

FastSpring now offers the most robust payments, billing, and tax solution for software companies selling globally.

SANTA BARBARA, Calif., Nov. 1, 2022 /PRNewswire/ -- FastSpring, the leading merchant of record solution provider for global payments, tax, pricing, and subscription management, announced today the availability of new platform features that will support the global growth of SaaS companies using FastSpring:

  • Advanced reporting and analytics: With FastSpring's reporting and analytics capabilities, SaaS and software providers can now monitor and manage revenue trends to drive key business decisions. Their dashboard displays monthly recurring revenue (MRR), active users, cancellations, lifetime value, churn rates, and much more; providing all the critical reporting components needed to drive revenue and profits.
  • A new, embedded checkout experience: This feature removes friction in the buyer checkout flow by allowing companies to embed checkouts directly onto a page. It also provides advanced customization of the purchasing experience through CSS overrides to better suit the company's brand, eliminating the need for redirects or overlays.
  • ACH payments for B2B sellers: This new feature will allow sellers to process ACH payments with a single click empowering SaaS companies to support B2B quoting processes in addition to consumer sales.
  • Free trials without payment: Now SaaS companies can offer their prospects the option to sign up for a free trial experience without entering a payment method which will increase trial sign-ups and drive new customer acquisition.

"For 15 years FastSpring has been a secret weapon for fast-growing SaaS and software companies. We are very excited to release these new features and functionality that will help thousands of software companies grow faster around the world without becoming (or hiring) billing and payments experts," said Kurt Smith, Chief Product Officer of FastSpring. "By taking on all the complexities related to selling digital products globally, FastSpring customers get valuable time back to focus on their customers, their product, and their business."

Over the past two years, the SaaS market has seen tremendous global growth, growing at an average rate of 20 percent each year. This growth has set three key trends in motion, including:

  • The acceleration of subscription model innovation: SaaS companies are no longer simply charging a flat monthly fee. Subscription pricing models have become table stakes as software companies are now looking to optimize their pricing and billing in a way that benefits both the sellers and the buyers.
  • Localized payment methods and experiences have become table stakes: Now more than ever, it's essential for SaaS companies to make it easy for their buyers to purchase their products and services, whether that's by offering the desired payment method, local currency, or just a streamlined experience.
  • The elimination of choosing between a product-led business model vs. a sales-led model: It's now well established that product-led and sales-led paths can and should coexist.

Now, with these enhanced capabilities, FastSpring further strengthens its position as the leading merchant of record for SaaS and subscription software businesses.

"With FastSpring's recent product releases, we are introducing an evolved platform with new capabilities to support SaaS and software companies like never before," said Smith. "FastSpring has built its reputation of being the most robust merchant of record solution on the market, and we are upholding that reputation by empowering fast-growing SaaS and software companies to stay focused on building their product while leaving everything else to FastSpring. From pricing, to payments, billing, tax management, and more."

About FastSpring

FastSpring is how software companies sell online in more places around the world. FastSpring handles every payment need from checkout to taxes so that businesses can go farther, faster. Founded in 2005, FastSpring is a privately owned company headquartered in Santa Barbara with offices in Amsterdam, the UK, and Halifax. For more information, please visit https://www.fastspring.com.

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David Vogelpohl
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SOURCE FastSpring

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