For over a decade, companies with subscription- and usage-based business models have been relying onSOFTRAX Contrax Recurring Billing for billing, contract administration and revenue management. More than a simple billing solution, Contrax supports multi-tiered pricing, transaction based charging, flexible billing schedules, and automated revenue schedule handling.
In addition to handling complex contract information, Contrax also gives managers critical forecasting capability on company revenue streams.
For customers looking for end-to-end support capable of managing multiple revenue types and business models, SOFTRAX Contrax Recurring Billing integrates directly with SOFTRAX Operations, our billing and revenue management solution. Together, these two products offer the ideal match for companies that are transitioning to recurring revenue while still supporting legacy products and services. Learn More About SOFTRAX Operations >
Sales contracts define the relationship between vendor and customer, creating a foundation for all subsequent billing activities. That's why SOFTRAX Contrax treats each contract as a dynamic relationship with the customer. It supports maintaining in-depth information about contract details and related records, as well as a full audit trail and history of changes to a contract's key elements.
In addition to managing scheduled activity, Contrax seamlessly processes prepayments, miscellaneous charges, and contract changes that occur during a billing cycle. Complex revenue recognition rules are incorporated with detailed charge, billing, and revenue schedules.
Contrax Recurring Billing accommodates the consolidation of charges within a billing cycle. This allows identical recurring charges to be combined with variable charges and presented on the same bill, while still allowing that bill to be split among multiple billing parties.
With Contrax, each service provided to your customers can have a completely different set of attributes, creating organizational flexibility when selling and delivering product. It also provides your customers with a streamlined bill presentation of all services.
Contrax delivers revenue management and accounting capabilities that differentiate it from traditional billing solutions. Every service entered into the system generates a unique billing and revenue schedule. This assists compliance with accounting regulations, and provides forecasting visibility of cash flow and revenue.
Contrax also fully automates the generation of revenue journal entries for billing and service activation events.
One of the most challenging part of contract management is the need for sophisticated pricing models. Contrax addresses contract-specific pricing, tiered volume discounts and the application of minimums that may vary over a contract's lifecycle. What's more, Contrax greatly enhances visibility into future price changes for complete revenue management and pricing optimization.
In many cases, the data needed for effective transaction- and usage-based billing comes from external sources, such as production and metering systems. SOFTRAX Contrax readily integrates into this existing enterprise application infrastructure, working with your front office CRM and usage-based metering systems and back office financial applications to give you unparalleled control over your billing processes.