Softrax Contract Management Software | Manage Complex Transaction Billing

With Softrax, the contract data that governs your active customer relationships drives your accounting processes. Softrax handles each contract as a dynamic representation of your relationship with the customer. It maintains in-depth information about contract details and related records, as well as a fully auditable history of changes and amendments to a contract’s key elements. In addition to managing scheduled activity, Softrax seamlessly processes miscellaneous charges and contract changes that occur during a billing cycle.

Softrax provides a single point of entry for all your contract data. Once the contract is entered, Softrax automates mission-critical downstream processes such as billing, expenses, revenue scheduling, revenue allocation, and managing contract renewals. The result is more efficient and effective account tracking, more accurate and timely billing, and enhanced customer service. In addition, by integrating contract management with a robust financial infrastructure, Softrax delivers several other significant benefits:

A comprehensive customer database and on line query capability that puts powerful insights into business performance at your fingertips
An integrated renewals process that delivers optimal revenue from your existing customers
A centralized, real-time audit trail to support reporting, forecasting, audits and Sarbanes-Oxley 404 compliance

Solution highlights

Simplify the administration and accounting for multi-element contracts

Automatically calculate recognition amounts for each element
Manage multiple schedules against a single contract
Enable entry of percent complete values that cascade through the system
Allocate revenue based on established VSOE values

Put all your contract data in one central repository

Establish one source for information on contracts, users, licenses, serial numbers, platforms, maintenance, etc.
Automatically update all accounting processes with contract changes
Enter data once, no need to re-key for billing, general ledger or reporting
Track upgrades by date, version, price, etc.

Facilitate complex billing

Consolidate multiple charges into a single bill
Manage simple and complex billing schedules
Detailed audit tracking of all activity
Support separate "bill-to" entities for different locations under the same contract
Create blended, logical views of all contract, delivery and billing data by bill-to location

Support compliance with Sarbanes-Oxley, SEC and FASB

Provide a transactional audit trail for Sarbanes-Oxley 404 assertions
Create a foundation for robust internal controls over revenue processes
Support compliance with revenue recognition rules (SOP 97-2, 98-9, VSOE, SOP 81-1, SAB 101/ SAB 104, and EITF 00-21).
Identify and optimize revenue processes
Improve the integrity of revenue data
Better establish and enforce internal controls for revenue

3 STRATEGIES FOR SUCCESS

How to succeed
in challenging economic times

LEARN MORE ABOUT SOFTRAX SOLUTIONS

CUSTOMER PERSPECTIVE

"Today we are much more informed about our customers in terms of their locations, installed products, product history, serial numbers, open contracts, what's active and what's not. I know I am dealing with accurate data, and I know I am not going to lose anything.”

Contract Management

Make your accounting processes more efficient by integrating key contractual data into your workflows