Softrax Solutions | Maintenance Renewals Automation

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.

Solution highlights

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

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

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

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

Gain total control over deferred revenue transactions