This feature or setting is available to all customers on any Recurly subscription plan.
The Recovered Revenue dashboard highlights revenue reclaimed through Recurly's tools, targeting declined transactions.
- Expiration Date Changes for continuous transactions.
- Account Updater to refresh payment details.
- Intelligent Retries to strategically retry failed transactions.
- Backup Payment Method to automatically retry failed payments on the backup payment method.
The Recovered Revenue dashboard is a robust tool that provides insights into how much revenue you have recovered through Recurly's system. By monitoring involuntary churn from declined transactions, the dashboard uses three main mechanisms - Expiration Date Changes, Account Updater, and Dunning Retries, to ensure the highest success rate of transactions.
Expiration date changes: This mechanism updates the expiration date on the account's billing information, allowing continuity of transactions and subscriptions. This reduces the likelihood of service disruption for the customer and prevents potential revenue loss.
Account updater: If enabled, this tool checks for credit card updates with providers before a subscription renewal, or when a one-time transaction or re-subscribe sign-up results in a hard decline. By staying up-to-date with customer's payment details, this tool aids in reducing failed transactions and maintaining a steady revenue stream.
Intelligent retries: This is Recurly's sophisticated retry logic that maximizes the likelihood of turning failed transactions into successful ones. By strategically timing the retries, it significantly reduces involuntary churn caused by failed transactions.
Backup payment method: Our Backup Payment Method feature acts as your safety net, ensuring uninterrupted service for your customers even when their primary payment method fails. By securely storing an alternative payment option, it safeguards your revenue stream and minimizes disruptions.
The Recovered Revenue dashboard has an intuitive layout, presenting you with an at-a-glance view of the revenue key performance indicators, a detailed bar chart showing the recovered revenue, and a chart detailing the revenue recovered by each of Recurly's processes. This overview gives you a comprehensive understanding of your business's health and Recurly's impact on your revenue recovery.
Recovered revenue KPI: These indicators offer a real-time snapshot of your revenue dynamics. They help you measure the effectiveness of your revenue recovery strategies by comparing your current payment amounts with totals for the last month, previous month, three months ago, and a year ago. This enables you to identify trends and track progress, supporting informed decisions to proactively manage involuntary churn.
Recovered Revenue chart: This bar chart visualizes the revenue that Recurly has helped you recover by minimizing involuntary churn from declined transactions. It allows you to see at a glance the financial impact of Recurly's services, making it a powerful tool for forecasting and resource allocation.
- Recovered Revenue Detail: This detailed breakdown gives you insights into the processes that drive revenue recovery. By displaying the amount recovered through each process (Expired Card Management, Account Updater, Intelligent Retries, Backup Payment Method), it enables you to see which tools are most effective. This knowledge empowers you to focus your efforts on the most productive areas, thereby improving recovery rates, enhancing service continuity, and fostering customer retention.
By having a clear understanding of the Recovered Revenue features, you can maximize their usage and significantly reduce involuntary churn, thereby enhancing your revenue recovery.
Updated about 1 month ago