Recurring: meaning of a billing and revenue platform
Recurring: meaning of a billing and revenue platform
Thinking of Recurring’s meaning has possibly left people wondering what the proper definition of Recurring could mean. If that’s the case, the good news is we’ll exhaust Recurring’s meaning. And we'll face it with recurrent implications in business, including recurring charges, recurring billing, and even revenue.
What’s the meaning of a recurring payment, for instance?
By aiming for this question, we’ll present the greatest tool to manage recurring spending.
And we’ll tie that with practical ways in which smart applications and online software can help a startup or any business’ budget handling and other financial areas.
Let's not delay any longer. We'll start with our definition of Recurring to deliver on what you're looking for without blockage.
Any word ending in ing in English already hints at what we’re expressing. We're looking at a progressive action or something that’s “still happening.” So, when we see “recurring” as a word, the ing suffix should speak to us of something that’s happening constantly.
That already brings us close to the specific definition of recurring as an adjective by Oxford’s dictionary. And that goes something like: “occurring again periodically or repeatedly.” When speaking of a thought, image, or memory, however, it would mean something that’s “repeatedly coming back to a person's mind.”
We want to keep recurring charges away from entrepreneur’s minds, though, especially in terms of worries. So, let’s fast forward from this definition to its contrast with something recurrent.
What’s the difference between recurring and recurrent?
Of course recurring and recurrent are almost identical! They're both technically described as something that “occurs often or repeatedly." We could essentially say there’s little difference between these two terms, in fact.
However, if we dig deeper into its surface, we’ll find that the ent finale hints more towards something that has existed previously. It takes us back to events that have existed in the past in some way.
Medical settings call for this word a lot, as is the case of recurrent illnesses or conditions. As for Recurring, however, the word speaks more of something that simply repeats itself. We can see it as an occurrence that happens with a certain repetition.
We hope this has clarified the word side of the two terms and recurring’s meaning. Let’s move on to more business-related uses of the terms, shall we?
What’s a recurring charge?
A recurring charge, then, refers to an expense that keeps repeating itself. Envision it as such for a minute. And we’ll leave it at that as charges are part of billing. And we’ll clarify those next. We promise doing so will shortly give a better scope of recurring charges altogether. Thanks for trusting.
What’s recurring billing, then?
Recurring billing speaks of billing processes that happen with a certain frequency, as well. Yet, to be more specific, we currently use the term to speak of merchants who charge us automatically for services to which we’ve agreed ahead of time.
So, say that gym membership is always due on the first few days of every month, for example. If we signed up our credit card to take care of automatic payments every cycle, then we’re looking at recurring billing in action. The benefit to doing that is frequently discounted or better pricing as it lets companies count on a more periodic cash flow in many ways. We'll also go deeper into that further below. Almost there!
What’s recurring revenue?
So far, we’ve addressed charges and billing in the sense that we are discounted funds periodically. And that happens to cover for goods we buy on a certain frequency. Or just for services we receive. But recurring can also help describe frequent income, earnings, and, better yet, overall company revenue. Of course, that stands if we play all of our startup options ideally.
When we know we’ve reached a certain level of revenue that’s safe enough to call recurring revenue, that means we can almost count on this source of business earnings to come in with reasonable certainty. It’s just very likely that we’ll continue getting that revenue in the near or far future when we speak of recurring revenue.
What’s the meaning of a recurring payment?
As for payments, however, recurring ones are just those expenses we know we need to cover on an equally frequent basis. If every certain amount of days, weeks, or months, we need to be issuing payments for a certain service or good, we’re looking at recurring payments.
How recurring payments are used
Subscriptions might be the word we’re looking for when we speak of the use we can give recurring payments. They typically serve to order merchant relationships and get clients on a regular schedule. That means recurring payments are also a way to envision and order up sources of income and cash flow. And hopefully revenue for our businesses, too.
Imagine getting all your monthly subscription payments from your clients by the first week of every month, and doing so without much fail. Wouldn’t that put a business at an advantage? To count on specific funds to run a steady course.
With certainty over incoming cash flow, businesses can make more strategic decisions. And that's part of the greatest asset of monitoring and controlling our recurring budget movement and expenditure.
A good tool to manage recurring spend
But it’s best to run all of this with automated tools that cut back human error significantly, especially those that already rely on the winning power of AI (artificial intelligence). And this is where we juice our title when we speak of Recurring in terms of its meaning for a billing and revenue platform.
For us, Recurring is the name we go by as this is exactly what our software has been designed to handle best. Seen as a one-stop-shop to manage startups’ subscription software, Recurring is the best tool to track and optimize spend. And it works while also letting users in on the most innovative and proper tools to suit their specific needs.
In great summary, Recurring basically helps founders and managers track expenses, usage, and efficiency of their platforms. And all this is done without waiting on time-consuming manual labor or for our diverse departments (especially accounting) to finish those periodic reports.
We experienced firsthand how hard it was to manage a stack of software-as-a-service (SaaS) tools. And we did so, especially as our business grew. Therefore, we've also come up with a simple way to keep track of a company’s recurring expenses by now.
That’s why our live dashboard lets you keep tags on your subscriptions the moment you’re charged, for example. Or why we stick to the best of smart recommendations based on SSO and GSuite logs that help us track the usage of all of a client’s SaaS platforms. We do so very quickly and anonymously, of course. And that's also how we've come up with great tool recommendations that are communicated to users based on what startups like theirs are using. It’s all pretty magical, really. But we’ll let you log in or register to find out by yourself.