The Pipedrive CRM finally got the much-anticipated feature recurring revenue.
For example, if your company sells a monthly or yearly billable license or invoices the same amount from a customer at regular intervals, your work will now be significantly easier.
Recording regular turnover in the Pipedrive store
Regular turnover, i.e., order contracts, can be recorded as both pending and completed sales.
Going to an individual sale, you find a Revenue box in the left panel. Below the Choose a Billing Agreement text, you’ll find a button reading Order. By clicking, you then enter your billing agreement information, which includes:
- Recurring amount: For example, an amount billed monthly
- Description: Subscription agreement identifier
- Amount of payments: How many times will the bill be sent?
- Interval: How often is the bill sent?
- Start Date: The first billing date for the period
Even if an order, i.e., a regular installment, has been added to the transaction, a lump sum can also be entered as previously.
Update, cancel, or delete recurring sales revenue
Once an order agreement has been created, only the start date, amount, and description can be updated. The amount of the payment and the billing interval can no longer be affected.
When a customer cancels a monthly billable order, you can cancel the recurring order starting from a selected date. You can also delete the order completely and create a new one, if necessary.
View a recurring revenue report
You can view the amounts for ongoing orders by going to the Details tab in the navigation bar, which is the reporting section. Click Recurring Revenue in the left panel. You can add a report from the plus icon if a visualization is not already visible.
The view also includes another report version called Revenue Growth. Instead of order amounts, it shows the amounts brought in by new customers, customers who have left, additional orders from existing customers, reductions, and net growth. The recurring sales revenue report is suitable for companies that aim to regularly increase their sales revenue by a certain amount.
Summary of recording monthly invoiced revenue in Pipedrive
Creating a recurring order, such as monthly invoicing, is possible with Pipedrive’s Advanced and Professional licenses. The cheaper of the two, Advanced, includes a basic report on recurring sales revenue, but not a report on changes in order volumes (revised 10/2020).
The recording of monthly invoiced revenue is still a recent feature in Pipedrive. Regular sales revenues have their own reports, and, at least at the moment, they aren’t shown in the same graphs as traditional one-time sales.
Recording regular sales revenue in a CRM system is a sought-after but not self-evident feature. For some companies, the ability to record and report monthly or annual invoices may be a make-or-break issue when acquiring a CRM system.
For example, the competition HubSpot offers the corresponding Recurring Revenue feature only at the Sales Hub Enterprise level, with a minimum cost of $ 1,200 per month for 10 users. In relation, Pipedrive’s Advanced and Professional licenses’ monthly cost of $ 24 and 50 per user with no minimum limit is an affordable and flexible option, especially for small sales teams.