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Every 1st of the month - Updating database when Stripe subscription is active - How?

Hi Everyone,
Need help on updating database with stripe subscriptions integrated.

1st - I think i need a recurring event/workflow to update the table (Company Subscriptions) under columns Plan and SMS limit. Depending on the Plan, the SMS limit will change accordingly

2nd - A same monthly recurring event/workflow will update another table (Company locations) on it’s respective updated SMS limit

Can advise? Thanks!

To give you more background

  1. By default, all sms limits are defaulted to 10 (Trial)
  2. If plan is subscripted (via stripe), the sms limit will increase depending on the tier (100, 300, 600)
  3. On a monthly basis, I would like to create a recurring workflow to check on the plans and update all respective locations SMS limit.
  4. One company can have multiple locations. And once a company subscription to a specific plan, all locations is updated to the same SMS limit.

Would appreciate some assistance or direction, thanks!