How To Calculate Annual Recurring Revenue (ARR).
March 7th, 2024
by Felix Cheruiyot
‘If you cannot measure it, you cannot improve it’. Learn how to calculate annual recurring revenue so you can make the right decisions to grow it.
Subscription businesses are highly sought after due to their capacity to generate recurring revenue. Yet, it’s possible to operate a ‘recurring revenue’ company without …
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5 Product-As-A-Service Examples & Companies Using The Model
March 7th, 2024
by Felix Cheruiyot
Not sure if your product or business is a good fit for the PaaS model? Let these 5 product-as-a-service examples inspire you and show you how the model works.
Business constantly evolves, with entrepreneurs finding better ways to meet customer needs, grow revenue, and become more socially and environmentally responsible. …
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Circular Economy: What It Means For Businesses & Consumers
March 6th, 2024
by Felix Cheruiyot
Shifting from a linear to a circular economic model can be as profitable as it is sustainable. Discover the circular economy and its numerous benefits.
The linear economy is proving to be unsustainable. Research indicates that if we persist with the current take-make-consume-and-discard approach to resource utilisation, we will need …
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What Is Recurring Revenue?
March 6th, 2024
by Felix Cheruiyot
Discover the significance of recurring revenue, its advantages, and strategies for cultivating it, as entrepreneurs aspire to foster a loyal customer base that consistently engages in monthly purchases.
What's in a business model? Why would you choose one over another? What's the key attribute of a smart business model?
For …
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Product-As-A-Service Business Model: Everything You Need To Know
March 1st, 2024
by Felix Cheruiyot
Do you sell physical equipment but feel exhausted from chasing sales every month? Consider pivoting to product-as-a-service business model.
The subscription business model has many benefits, including recurring payments that help you maintain healthy cashflow, more predictable revenue, and stronger customer relationships.
It’s no surprise, therefore, that most software companies …
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Pay-Per-Use Billing Model - Meaning, How It Works & Examples
February 28th, 2024
by Felix Cheruiyot
Consumers are exploring pay-per-use as a more equitable pricing model for their subscriptions. Learn more about pay-per-use, its uses cases, and benefits.
According to research, consumers in the USA spend 2.5 times more on subscriptions than they estimate. This is not surprising considering that 42% of those surveyed said …
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What Is The Freemium Revenue Model? (Pros, Cons & Use Cases)
February 24th, 2024
by Felix Cheruiyot
Believe it or not, allowing free access to elements of your digital product forever is a viable acquisition strategy. Discover how the freemium model works.
Marketing new products is challenging and expensive, from finding product/market fit to selling the product. Very few people want to gamble their money on your …
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Scheduled Payments: What They Are & Why You Should Use Them.
February 21st, 2024
by Felix Cheruiyot
Missing a payment can mean losing critical business supplies and disappointing customers. Discover how you can avoid that with scheduled payments.
Do you want a healthy cash flow, with excess funds always available for emergencies?
Or you are the organised type that wants to stay ahead of their to-do list …
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Are Disbursements Taxable in Kenya?
February 20th, 2024
by Felix Cheruiyot
Misclassifying expenses as disbursements causes tax issues for your business. Learn what between expenses and disbursements is taxable in Kenya.
Whenever you move value out of your company, you must know your tax obligations. It is a general rule that you are only taxed when you have earned an income …
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Expenses vs Disbursements. What Are Their Differences?
February 17th, 2024
by Felix Cheruiyot
Confusing expenses with disbursements can have negative implications for your business. Learn the fundamental differences between expenses and disbursements.
On the surface, disbursements may look like expenses. Technically, though, they are not a business expenditure. For the receiving party, they can be easily conflated with regular business income. They are …
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What Is A Digital Disbursement? [Why You Must Care]
February 14th, 2024
by Felix Cheruiyot
Digitising your payment systems speeds up your business payments and streamlines reporting and reconciliation. Learn how digital disbursements work.
Picture this. A supplier has to refund you for a defective piece of equipment they supplied. Would you rather receive your money instantly or the next day or the following week? …
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Subscriptions And Memberships - Unpacking The Differences
February 6th, 2024
by Felix Cheruiyot
While they may appear similar, subscriptions and memberships are different business models. Learn what sets them apart.
The increasing internet connectivity has enabled businesses to operate entirely online. Besides creating completely new industries and producing behemoth businesses like Facebook, Netflix, Spotify, and Amazon AWS, it has reconfigured and pumped life …
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What Information Do Employers Need For Payroll
February 4th, 2024
by Felix Cheruiyot
The efficiency and accuracy of your payroll process reflect the quality of the information you use. Learn what information you need to process payroll.
Every day, an ambitious entrepreneur sets up a business somewhere in Kenya. Among the items on their long to-do list is hiring employees. They must set …
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Disbursement vs Payment: How Do They Differ?
February 2nd, 2024
by Felix Cheruiyot
There are important differences between disbursements and payments. Learn how to differentiate and streamline them for your business' success.
You are not necessarily making a payment when money leaves your business bank account. The reason why you are paying out money and the recipient of the payment determines whether you …
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Payment Aggregator vs Payment Gateway - A Quick Explainer.
January 31st, 2024
by Felix Cheruiyot
Learn the difference between payment aggregators and payment gateways and which between them offers your business the best payment and cost efficiency.
Accepting customer payments on your e-commerce website or application instantly expands your total addressable market. This includes people outside your local town and even those beyond your national …
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Who Is Responsible For Payroll Errors?
January 24th, 2024
by Felix Cheruiyot
When costly mistakes happen at the workplace, people want to avoid blame. Learn who is responsible for payroll errors and how to handle them.
Payroll mistakes are costly for the company and cause distress and hardship in employees. However, as payroll errors may stem from various individuals across different departments, …
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What Is The Difference Between Company Payroll And Third Party Payroll?
January 23rd, 2024
by Felix Cheruiyot
You can pay workers directly or through a third party. Learn the difference between company payroll and third party payroll and the pros and cons for each.
In the realm of workforce compensation, the method of disbursing salaries holds significant financial and operational implications. This article delves into the nuances …
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Payroll Errors: What They Are, Causes & Fixes
January 23rd, 2024
by Felix Cheruiyot
Payroll errors cause discontent among staff and pose compliance risks. Learn what payroll errors are, who is responsible for them, and how to fix them.
Employees rightfully feel disappointed when their payslips reflect a smaller net salary than what they were owed for the month. Especially if it turns out …
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What Happens If A Company Can't Make Payroll?
January 17th, 2024
by Felix Cheruiyot
The promise of a regular paycheque is why your employees turn up for work every day. Learn what happens if a company can’t make payroll.
Conventional theory will tell you that money is not the best motivator for most employees. But there aren’t many people who will keep working if …
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E-Payments Explained - Meaning, Types & Benefits for Businesses.
January 15th, 2024
by Felix Cheruiyot
‘Cash is king’ may soon be a redundant phrase thanks to the growing popularity of e-payments. Learn why digital payments are now the norm in business.
Africa lags the world in digital payments absorption, with the notable success of the M-Pesa mobile payments platform marking Kenya as an exception.
Even …
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Mastering Salary Disbursements: Automation and Efficient Payment Methods
January 15th, 2024
by Felix Cheruiyot
Automating salary disbursements ensures speed, efficiency, and enhanced security. Discover the best salary payment methods and tools for automating salary disbursements.
Employee attendance relies significantly on timely salary disbursements. Delay or fail to pay them when due and they could down tools.
Where salaries are routinely paid late, workers find …
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Disbursements: Meaning, Purpose & How to Streamline Them
January 10th, 2024
by Felix Cheruiyot
Disbursements are an essential part of every business’ payment apparatus. Learn what they are and how to streamline them and boost your cash flow.
There are several ways money flows into, within, and out of your business. Of particular importance is how money flows out of your business. All of …
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Subscription Marketing - How to Promote Your Subscription Product
December 11th, 2023
by Felix Cheruiyot
Subscription marketing refocuses the consumer’s mind from solving their problems to having them taken care of forever. Learn how to promote your subscription product.
The subscription market is reaching saturation point in the West. Meanwhile, it's in its infancy in Kenya and the rest of the developing world.
While this …
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How Billing Automation Can Improve Cash Flow
December 6th, 2023
by Felix Cheruiyot
If cash flow is king, ensuring you get paid on time is key to running a successful business. Learn how billing automation can improve cash flow and keep things ticking over nicely at your business.
Cash flow is the movement of money in and out of a business. It measures …
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9 Must-Have Elements Of A Good Billing System.
November 29th, 2023
by Felix Cheruiyot
A complex, inefficient billing process will sink your business no matter how good your product is. Learn the 9 essential elements of a good billing system, and why it’s crucial to your business’s success.
Even though it’s the part where you get paid, you didn’t start your business excited at …
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Dunning Automation - Meaning & Impact On Revenue Recovery
November 29th, 2023
by Felix Cheruiyot
Dunning automation can help businesses save time and money by automating debt collection. Learn the meaning and impact of dunning automation on revenue recovery.
Something we don’t sign up for when we start a business but is a reality of running a business is that some customers will not pay …
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What Is The Billing Process? [Steps, Purpose & Tips]
November 25th, 2023
by Felix Cheruiyot
Billing is an integral part of any business that ensures you generate revenue and stay afloat. Learn what the billing process entails and how to streamline it.
The struggles of many small to mid-sized businesses are directly tied to the billing process. In short, they cannot get their customers to …
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7 Most Common Billing Mistakes And How To Avoid Them
November 22nd, 2023
by Felix Cheruiyot
Billing errors lead to delayed payments, lost revenue, and damaged customer trust. Discover the seven most common billing errors and how to prevent them.
The number 1 reason small businesses fail is cash flow problems. Cash flow is measured in the ability to pay your bills. But before you pay …
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How to Automate Billing And Get Paid Faster
November 21st, 2023
by Felix Cheruiyot
Manual billing is costly, time-consuming, and gets more challenging as your business grows. Learn how to automate billing to get paid and scale faster.
As many business owners will testify, doing the work - providing the service or supplying the ordered goods - is the easy part. Getting paid? Not …
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Subscription Billing vs Recurring Billing - What’s The Difference?
November 18th, 2023
by Felix Cheruiyot
Recurring billing is often mistaken for subscription billing. Find out where they differ as we unravel the subscription billing vs recurring billing confusion.
Every business experiences periods of market turbulence where sales may slow down. Recurring payments can cure this by their ability to generate predictable revenue.
You can say …
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Billing Automation - Meaning, How It Works & 9 Benefits for Businesses
November 16th, 2023
by Felix Cheruiyot
Manual billing is inefficient, costly, prone to errors, and can cause revenue leakages. Discover how billing automation solves these issues and boosts revenue.
Billing is an essential task that every business must tackle accurately to ensure profitability and long-term success. But as critical as it is to revenue collection, it …
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Can You Sell Subscriptions On Shopify? [Guide]
November 15th, 2023
by Felix Cheruiyot
Adding subscription options to your e-commerce website is bang on trend. But how easy is it on Shopify? Can you sell subscriptions on Shopify? Read to learn how.
Adding subscription options to your Shopify store helps to shore up flatlining sales, build a loyal customer base, and establish a predictable …
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Is The Subscription Model Right For Your Business?
November 13th, 2023
by Felix Cheruiyot
The subscription model fits most businesses, but a few aren’t a good fit. Learn how to separate these and successfully implement subscription pricing.
This is well and truly the age of subscriptions. Every other business and industry is shifting away from one-time purchases, drawn by the many compelling benefits of …
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What Is A Subscription Plan?
November 6th, 2023
by Felix Cheruiyot
Your target customers will rarely be a homogenous mass that you can target with one subscription plan. Learn what a subscription plan is and why offering more than one option is good for business.
The subscription business model has become a popular way to quickly deliver products and services your …
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Subscription-Based Software - Definition, Business Case & Examples.
October 31st, 2023
by Felix Cheruiyot
How you monetise your software determines how much revenue your business will generate. Learn the business case for subscription-based software and how it can help you maximise your revenue.
There used to be only one way of selling software. That is through a perpetual licence where customers make a large …
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10 Benefits of Using Subscription Management software.
October 21st, 2023
by Felix Cheruiyot
There is a lot involved in running a subscription business. Discover the benefits of automating your tasks and processes with subscription management software.
There’s growing appeal for starting a subscription business or offering subscription options in your business. Among these are automated billing and recurring revenue, which improves business efficiency …
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Subscription Billing - Definition & How to Choose the Right Pricing Model
October 16th, 2023
by Felix Cheruiyot
Subscription billing enables recurring payments and auto-renewals, which increases sales and improves revenue forecasting. Learn more about subscription billing.
The subscription business model, or subscription billing in short, is no longer the domain of SaaS companies. Companies in other industries are realising the profound benefits of automating billing and collecting …
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Do People Actually Buy Subscription Boxes?
October 10th, 2023
by Felix Cheruiyot
Before investing your capital, you must establish that a trending business idea isn’t just a fad. Find out if and why people actually buy subscription boxes.
There is a subscription box for nearly everything these days. You can find subscription boxes for:
- Dietary staples like milk and meat,
- Treats for …
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Are Subscription Box Businesses Profitable? [Top 4 Reasons for Failure]
October 9th, 2023
by Felix Cheruiyot
The subscription box business you are working on will not succeed if it’s not profitable. Find out if the subscription box business model is profitable and what you should focus on to achieve profitability.
According to a Havard Business School article, there are well over 2,000 subscription businesses in the …
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9 Subscription Business Model Ideas To Try In Kenya
October 5th, 2023
by Felix Cheruiyot
Research has shown that you can convert every third customer of your e-commerce business into a subscriber. Or you can set up as a subscription business from the get-go.
With a subscription business model, your customers sign up to receive a supply of a service or products at a set …
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What Are The Benefits of Fintech Payments in Business?
October 3rd, 2023
by Felix Cheruiyot
Are you curious to know how fintech can improve your payment processes and help you launch innovative new products? Learn the top 5 benefits of fintech for businesses.
Kenya has become a global hub for Fintech innovation. The fintech market in the country is worth an estimated $4.9 billion, but …
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Does PalmPay Work In Kenya?
August 22nd, 2023
by Felix Cheruiyot
Mobile wallet PalmPay has attracted substantial interest in Kenya. Those keen to try it are asking, does PalmPay work in Kenya? Read to learn if it is available and the reasons it's popular.
Mobile wallets are a safe, secure, and convenient way to send money and pay for goods and …
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How to Choose a Payment Gateway - Guide for Merchants in Kenya.
August 9th, 2023
by Felix Cheruiyot
Your choice of payment gateway can make or break your e-commerce business. Let how to choose a payment gateway that simplifies checkout for your customers.
A payment gateway is your online business’s virtual Point Of Sale terminal, whose efficiency, cost, and security are crucial for your business’s success.
A good …
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