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Recurly is a subscription management tool that offers recurring billing. They integrate with multiple payment gateway options to process transactions, including WorldPay, Amazon Payments, and of course, Stripe.
Stripe is one of the most popular payment gateways on the market right now, with options to integrate with most major tools and platforms for highly secure payment processing in 195 countries across the globe.
It’s easy to see why subscription businesses are likely to use both Recurly and Stripe to manage and process subscription billing online, but the reality is that when it comes to analyzing actual revenue data, adding another tool to the mix with a Baremetrics integration can generate the most impactful insights. Let’s talk about why.
Why Stripe and Recurly’s Data Isn’t Quite Enough
Recurly and Stripe are a powerful duo for subscription management and billing, offering exceptional functionality and reliability to businesses of all sizes, ranging from startups to larger subscription brands.
That said, actually reviewing revenue data on both individual platforms may be difficult and lead to some headaches.
Recurly, for example, offers multiple payment gateway options. So while you may want to look at Stripe’s data specifically to see how that segment of customers measures up in terms of monthly recurring revenue (MRR) or churn rate, you will have to go back and forth between dashboards to compare Stripe to your overall data. This can be cumbersome and, frankly, a little confusing.
In some cases, different platforms also process or display data differently. One platform may show you revenue data based on when the invoice was sent, while the other shows when the payment was actually received. And others still may show any existing subscriptions as “recurring revenue,” even if the subscription has been put on an indefinite pause.
Data inconsistencies and the inconvenience of moving back and forth between platforms can be disruptive and confusing, potentially leading to an inaccurate understanding of what’s actually happening with your business’s finances.
The Benefits of Baremetrics’ Stripe and Recurly Integrations
Baremetrics integrates with both Stripe and Recurly individually, so you can import crucial financial data from each source. Let’s discuss how using Baremetrics’ Stripe and Recurly integrations can benefit subscription businesses.
1. Compile & View All Subscription Revenue Data in One Place
Need to understand what’s happening with your business’s revenue across the board?
Baremetrics is the tool you’ve been looking for. We’ll compile all the data from both Stripe and Recurly (and additional platforms!) with easy integrations so that you can see what’s happening across your entire business in terms of revenue and subscription retention.
2. Dive Deep Into Revenue Analytics
Many payment processing or subscription platforms do offer some revenue data, but it’s ultimately many of the basic KPIs that you’d expect. And while these are great to have, the ability to dive deeper can be invaluable.
Baremetrics offers 26 financial-focused and subscription-specialized revenue metrics so you can have all the KPIs you need for your business.
3. View Platform-by-Platform Breakdowns
Baremetrics allows you to see overall revenue subscription data with the financial and customer KPIs you need to see most, compiling data from all of your subscription management and payment processing tools.
That said, you can also view these metrics on a platform-by-platform basis. If you want to see how Recurly payers act or spend differently than those who make purchases through mobile app stores, for example, you can do that.
In many cases, users of different payment processing platforms do spend, retain, and purchase differently. Users who purchase through Recurly on your website, for example, are more likely to spend more and retain longer than users who sign up through Google Pay or the Apple App Store.
Tracking these differences gives you incredible insight for ongoing revenue optimization.
4. Get Data You Can Trust
Baremetrics, above all else, values accuracy. We pride ourselves on presenting clear and accurate data, because we know that you need nothing less when making financial decisions for your business.
As a result, we’ve looked at ways that other platforms may inadvertently mislead users with revenue metrics so that we can do better. We found that many subscription tools, for example, will count all existing subscriptions as monthly recurring revenue, even if they’re paused or delinquent on payment. That’s a huge gap between reported and actual revenue, so we only show you true revenue based on actual generated income.
And, with all the data in a single platform, you know that the data is tracked, calculated, and presented consistently. It’s a true apples-to-apples comparison that allows you to make more informed decisions.
5. Receive Actionable Insights
Plain, clear data with set KPIs is important. It’s why Baremetrics offers 26 subscription-focused financial metrics automatically. That said, getting detailed insights that go beyond static metrics can also be invaluable.
Baremetrics offers the following insights so you can more easily make revenue-boosting changes:
- Revenue forecasting that projects revenue estimates year-over-year.
- Cancellation insights to identify why customers are churning and help you reduce churn (including by flagging churn risks) to boost retention rates.
- Trial insights offer suggestions for how to improve the trial-to-customer conversion rate based on your business trends.
- Recover leverages automation to help you identify and prevent lost revenue that can happen as a result of missed payments before they happen due to reasons like expired credit cards.
How to Integrate Baremetrics to Key Data Sources
Want to integrate Stripe and Recurly (along with other key data sources like Braintree or Shopify Partners) with Baremetrics?
Good news: The process is straightforward and simple!
When you first create an account with Baremetrics, we’ll ask you to connect your first data source (note that you can always add more later).
Choose whichever platform you want to add first, and in a few clicks, you’ll be able to integrate the two platforms. Data syncing starts immediately.
Final Thoughts
Baremetrics was designed to provide detailed and exceptionally accurate revenue analytics with subscription-focused metrics . Use our financial reporting features to better understand what’s happening with your revenue on all platforms to make data-driven decisions that can help you optimize your revenue moving forward.
Ready to get started with Baremetrics? Book your free demo today.
