Windsor, UK – June 10, 2014 – Aria Systems, the leading innovator in recurring revenue management and cloud billing, today announced that they are able and ready to assist European eCommerce companies, across all verticals, to adapt to the new EU Directive on Consumer Rights (CRD) that goes into effect June 13. Aria Systems has developed technologies to help address CRD requirements including “Right to Cancel,” total cost calculations for subscriptions, and timely refunds. The CRD is set to govern how information is presented by businesses and how they interact with customers.
“Few eCommerce sites in Europe will not be affected by the changes imposed by the EU Commission,” said Ric Vicari, vice president of sales and business development, Aria Systems. “For some businesses – in particular companies with off-premise service contracts for digital content - the CRD will require a major overhaul of their systems, processes and staff training. Systems originally created to delight customers may have the opposite effect, impacting acquisition and churn.”
Key points of the CRD, and how Aria’s award-winning recurring revenue management solution can help companies adapt to its complexities, include:
The Right to Cancel – The minimum period of the Right to Cancel, known as the cooling off period, is being extended from seven to 14 days after receipt of goods. There has also been a shortening of the deadline for businesses to provide corresponding refunds.
Aria Systems can help businesses adapt to the new Right to Cancel change by offering self-service apps through which customers can change their service, including cancelling, upgrading or switching between other services. Information about the Right to Cancel will be better presented and offer consumer reassurances that if they make a mistake, they can retract their order quickly and easily.
Recurring Subscriptions & Usage – Businesses will need to disclose the total cost for each billing period. In the case of a contract of indeterminate duration or a contract containing a subscription, the total price shall include the total costs per billing period. Where such contracts are charged at a fixed rate, the total price shall also mean the total monthly costs. Where the total costs cannot be reasonably calculated in advance, the manner in which the price is to be calculated shall be provided.
Aria Systems supports a nearly unlimited set of ways to monetize service usage and can present the required information to consumers in an appropriate format.
Refunds – Businesses must give refunds within 14 days of receiving goods. Refunds include the cost of delivery. At the same time, retailers will be entitled to withhold the refund until the goods have been received back from the consumer.
Aria Systems can assist suppliers with automatic refunds through credits to the account used. Of note for service contracts is the supply of the legal contract and/or terms and conditions for review and notification to the customer when their obligation is due. Also of interest is information about when the service will be provided, i.e. a delivery date. In the case of digital offerings this can be immediate if a billing solution like Aria’s is used to coordinate the provisioning.
Ultimately, Aria Systems’ recurring revenue management solution can make it easy for suppliers and traders to engage their customers with new offerings whilst simplifying the exchange between services. The solution not only assists with the latest Consumer Rights Directive, but is also agile enough to cater for any future changes in law.
About Aria Systems
Industry leaders like AAA NCNU, Experian, HootSuite, Pitney Bowes, Telekom Denmark, VMware and many others choose Aria Systems to power their recurring revenue business and deliver exceptional experiences to their customers. Learn more about us at www.ariasystems.com.
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