Which software subscription is better for your food business – annual or monthly billing?

Subscription services have fast become the most cost-effective business model for industries. They give consumers easy access to the goods they want and businesses a regular and reliable source of income. 


And its software services where the subscription model is the most powerful. 

 

SaaS (Software-as-a-Service) is now a heavily-relied upon model for organisations of all shapes and sizes across the globe. And the SaaS market is worth over 150 Billion USD. Which is pretty huge!

 

So, when it comes to running a successful food business, it’s likely you’ll be relying on cloud-based subscription services in all facets of your operation. From handling customers and delivery partners to your agricultural supply chain, SaaS services will be supporting every aspect.  

 

That’s why we’ve covered off some of the basics you need to know, to help you assess which subscription term will work best for your business.


How is SaaS used in the food industry?


Dynamic Pricing

Managing food waste is no longer a ‘nice to have’, neither for consumers nor businesses involved in food. 


And that’s where, as a SaaS service, dynamic pricing is helping to tackle food waste by analyzing demand and food supply inventories. AI-powered software monitors data like expiry dates and adjusts the pricing to fit, at the point-of-sale. And this is almost like your ‘reduced items’. But instead, the system allows for automatic price reductions to encourage faster use, without waste. 


Enterprise Resource Planning (ERP)

Several SaaS platforms are available to support the entire food production process. And these range from account and project management to supply chain and operations. In general, Enterprise Resource Planning uses data to ensure quality and meet food standards. 


And this data impacts all areas of a business, including finance and accounting. In turn, this drives efficiencies in budgeting and financial forecasting.  


Quality Assurance and Safety Testing Software 

Food and drinks manufacturers take on huge responsibilities for health, safety and risk management. And SaaS platforms have changed the game for them. 


SaaS software helps businesses to check for food safety throughout the supply chain. But they also support IoT technology that’s tracking the proper sanitisation of equipment and driving correct storage procedures. 


Electronic Point of Sale (EPOS) 

It’s become critical for consumers to understand exactly what’s lurking in their food. And as a food service provider selling direct to consumers, you can rely on your EPOS system to support this. SaaS software will run through most aspects of your EPOS hardware, from online ordering to self-checkouts


At ePOS Hybrid, our technology meets your business needs and upholds the highest standards in safety, hygiene and service. In fact (and we’re going to blow our own trumpet here) we’re proud to have won ‘Best SaaS Platform for Catering and Hospitality Businesses’ in the SaaS Awards 2020


What are the pros and cons of monthly billing?

Pros

  • If you don’t have the cash up-front for an annual subscription, monthly tends to be better for cashflow.
  • Taking a monthly approach offers more flexibility, as you can cancel at any point.
  • You have the freedom to try things out and gain a ‘proof of concept’ without making a full 12-month commitment.


Cons

  • Monthly transactions usually cost more in the long run.
  • You’ll need to handle monthly invoices and several entries when it comes to your accounts.

 

What are the pros and cons of annual billing?

Pros

  • It’s usually much cheaper than monthly instalments.
  • Once it’s paid as a full lump sum, you’ll have peace-of-mind that your software will keep running.
  • No admin headaches or multiple lines on your tax returns.


Cons

  • You may incur a fee if you want to cancel your commitment mid-way through the year.


Make the right decision for your business

Our ePOS software packages are more flexible and affordable than ever. And you can upgrade, downgrade, pause and resume your subscription at any time.

With our Starter Bundles starting at £15/month (plus VAT) or two months free software if you choose to pay annually, why not take a look at our prices and see what works for you.  

@2021 ePOS HYBRID. All Right Reserved.