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What are Revenue Recovery Tools?

rev - e - nue re - cov - er - y tools
noun
Refer to tools, services, and capabilities employed to combat failed payment authorizations for auto-recurring charges. With more than one out of every six card transactions failing for one reason or another, implementing strategies to reduce and/or recover declined authorizations is one of the best investments any recurring-revenue based business can make.

Just as there are many reasons for payments to fail, there are numerous ways to prevent and recover them. The most successful retention strategies use many of these tactics simultaneously, and advanced tracking and analytical tools to monitor and optimize the results.

Revenue Recovery Tools for fighting involuntary churn include at the acquisition stage: multi-currency management, intelligent payment routing, dynamic 3D secure flows. On the renewal stage, tools such as account updater services (both external, provided by card networks, as well as internal, provided by payment processors), retry logic, as well as ultimately dunning management for hard declines.

Revenue Recovery Tools can drive up to 20% revenue uplift for auto-recurring transactions.

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