There are three revenue modes on Planhat depending on your Plan and ambition in this regard.
This is a great way for anyone to start, even if your plan is to eventually manage revenue in more advanced ways in planhat.
On each customer profile in Planhat, simply type in the MRR value and (optionally) the next renewal date. Value and renewal date can, of course, be added using the standard customer excel import, or using the API.
If all your subscriptions are monthly, your customers are most likely auto-renewing and being charged automatically using a service like Stripe.
You may have different plans, but each customer will be on one plan at any point in time.
In this case, you won’t be setting the MRR value and renewal date directly on the customer. Instead, Planhat will figure it out based on the underlying subscription periods. You give Planhat the first subscription period and value, and Planhat will take care of renewing the subscription monthly unless instructed otherwise.
When a customer churns, simply flag the last subscription period in Planhat as churn, and it won’t be renewed again.
If you have a lot of customers, which is often the case then you will want to manage subscriptions automatically over API. Planhat has a specific end-point to help you do this. Simply send us an MRR value and date and the following will happen...
- Case A: No previous subscription data ; Planhat will create a new monthly subscription starting at the date specified and with the value specified. Next month Planhat will renew this automatically so if nothing changes, you don’t have to do anything more.
- Case B: Subscription exists for this date ; if the date you provide falls within one of the existing subscription periods for this customer, then this period will be updated with the new value, all subsequent subscription periods (if any exist) will also be updated with the new MRR value.
- Case C: Subscription end ; to cancel a subscription, send a value of 0 and a date. The date should fall within an existing (but not necessarily active) subscription period. This period will then be removed, and so will all subsequent periods. The closest preceding period will keep its value but will get a status of “lost”
Mixed mode is ideal if you’re customers have subscriptions of different lengths, and perhaps even multiple (and potentially) parallel subscriptions. Even if all of your customers are on yearly contracts, the mixed mode will help you manage a mix of auto-yes/auto-no, varying noticed periods etc. Planhat can even help you manage your open ended (non-fixed term) subscriptions, and you non-recurring revenue (NRR), as well as help you with forecasting.
The Mixed mode is easy to manage from the App but typically requires a significant effort to sync over API due to the flexibility, wide range of settings and multiple options. Thus, this API is only available on our enterprise plans.
If you need the Mixed mode let us know and we’ll provide additional documentation.