A state of the art billing system can mean the difference between being able to bring innovative products and services to market and being an also ran.
When companies offer new services, solutions, and purchasing options to their customers, they need the financial infrastructure to back it up. To be fully
operational, today’s sophisticated business models typically require billing to be well integrated with customer management, contract information, and
revenue recognition processes.
Softrax integrates billing with all the information from your active
customer contracts at the front end and revenue
recognition accounting processes 
at the back end. In Softrax,
billing and revenue are separate, coordinated processes that can be
controlled by independent business rules derived from your customer
agreements. This provides enormous flexibility for how you package
and sell your offerings. Softrax even sends renewal
quotes for customers to review well ahead of the actual invoice,
to reduce billing inquiries and decrease days billing outstanding.
As a result, Softrax delivers efficiencies that other systems can’t
provide. The impact is greater productivity, optimized
revenue, and better customer service.
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Easily automate maintenance, milestone and recurring billing
- Manage multi-faceted billing scenarios
- Consolidate multiple recurring items into a single bill
- Setup schedules across a contract
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Revenue Accounting
and Revenue Management
- Control revenue general ledger account distribution
- Account for complex adjustments
- Automate journal entries for every billing and service activation event
- Simplify compliance with complex accounting standards
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Customize Billing to Your Customers’ Needs
- Synchronize multiple bills and automatically:
- Line up all your maintenance start and end dates
- Pro-rate all the pricing associated with synchronized contracts
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Support Sophisticated Pricing Models
- Easily create and manage pricing models
- Apply tiered volume discounts
- Support variable pricing bands over the life of a contract
- Gain visibility into how time-dependent pricing affects future account profitability
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Gain total control
over deferred revenue transactions
- Completely automate revenue accounting tasks
- Easily create and manage revenue schedules
- Enable more sophisticated reporting and forecasting
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Completely
automate maintenance renewals
- Optimize maintenance renewals through the entire customer life cycle
- Instantly determine which customers or products are up for renewal
- Make the renewal process easier for your customers
- Easily incorporate complex pricing models
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Powerful built in revenue recognition functionality
- Automate even the most complex revenue calculations
- Integrate complex deferred revenue transactions with your general ledger
- Apply revenue recognition policies on an enterprise basis
- Simplify compliance with vendor specific objective evidence (VSOE) requirements of SOP 97-2
- Completely automate deferred revenue transactions
- Completely automate maintenance renewals
- Greatly facilitate reporting and forecasting
- Support compliance with Sarbanes-Oxley, SEC and FASB
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Learn
more about Softrax' billing and revenue solutions by attending an
online demo.