Maintenance contracts represent a critical revenue source for many businesses. Typically these contracts cover millions of dollars across
different products, customers, and time periods. Despite its importance, many companies still rely on desktop tools and custom systems to
manage their renewals—at the risk of missing revenue.
Softrax provides a fully integrated and automated system for the upkeep of this critical revenue stream. With Softrax, you can easily create and
manage renewals from a comprehensive database of contract information. There is no need to use spreadsheets or to write custom code because with
Softrax, renewals automatically flow through your system from deferred revenue accounts to general ledger postings to forecasts. As a result, the
maintenance renewals process is no longer a source of inefficiency, confusion and risk. It is integrated into your finance operations, which improves
productivity and cash flow.
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Optimize maintenance renewals through the entire revenue cycle
- Every product can have its own maintenance and support treatment
- Every maintenance contract can have different start and end dates
- All the maintenance information is captured at order entry so there is no reentry downstream
- Automatically produce invoices from notices at the push of a button
- Track the status of each renewal as its moves through the process
- Automated monthly posting of deferred revenue to the general ledger
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Instantly determine which customers or products are up for renewal
- Create renewals based on detailed account information including multiple bill-to addresses and company hierarchy
- Renewals always include current contract terms including pre-negotiated changes in pricing and discounting
- Maintain global maintenance contracts for multi-national companies
- Automatically incorporate changes to the invoice into all the proper general ledger accounts
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Make the renewal process easier for your customers
- Easily send pro-forma invoices to begin the negotiating process early and upsell the contracts
- Consolidate multiple renewal notices into a single notification and invoice
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Easily incorporate complex pricing
- Every product can have a different negotiated price.
- Support different maintenance renewal price books so that a change to one line item can affect hundreds or thousands of renewal contracts
- Support diverse and complex maintenance renewal pricing terms for individual products such as:
- Percent of Current List Prices
- Percent of List with Annual Increases not to exceed a specific percent or dollar cap
- Flat fee pricing with annual increases of CPI Index percent or any fixed percent
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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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Integrate critical contract data with core accounting processes
- Simplify the administration and accounting for multi-element contracts
- Put all your contract data under the control of the finance department
- Facilitate complex billing
- Support compliance with Sarbanes-Oxley, SEC and FASB guidelines
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Powerful reporting
and forecasting functionality
- Gain unique insights into business performance
- Instantly access detailed historical and future views of both deferred and recognized revenue streams
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CUSTOMER PERSPECTIVE
"The software's unique ability to manage our large and complex installed
base, specifically to perform order processing, invoicing and maintenance
billing, was a major factor in our decision to license Softrax."
Ted Chapman
Manager, Information Systems
Cincom Systems, Inc.
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