Softrax Solutions | Automated Sales and Order Management

Each industry has special requirements for the workflow and information needed to fully automate their order management process. Softrax has developed a complete order management system that brings together all the key business components into a single solution for the software industry.

Softrax captures critical installation information regarding where and how products are being sold, and what terms for support and licensing have been agreed. With comprehensive account information, you can easily track upgrade histories and user licenses by location, which greatly facilitates your upselling and cross-selling efforts. With renewal schedules linked to contractual pricing tables, you can always renew at the right price before the contract expires. As a result, you don’t miss or delay this valuable revenue stream.

With Softrax, order management is integrated with robust billing functionality to allow complete financial flexibility and control. Potentially thousands of components could be easily bundled on a single contract and automatically configured for proper billing and revenue recognition–including future price changes by line item. This makes accounting processes substantially more efficient, and provides management with far greater insight into both current and future revenue streams.

Solution highlights

Handle Order Complexity

Track multiple orders under the same master agreement/contract
Easily create a corporate hierarchy to distribute products purchased on a single order
Define revenue recognition rules for each line item
Handle complex delivery and shipping requirements

Process complex product bundles

Define multi-level bill-of-materials
Combine standard and virtual components (e.g. license and maintenance items)
Calculate pricing based on user options
Allow configuration changes at order process time

Define billing and associated revenue recognition schedules

Create complex billing schedules to generate invoices on critical contract dates
Trigger Billing based on critical milestones and events
Utilize multiple bill formats to correctly present complex orders to the customer

Define complex pricing rules

Establish customer specific pricing tables
Base pricing on line item attributes including license types, number of licensed users, and quantity
Establish "special" pricing for a defined time period
Create future pricing for upgrade and maintenance

Integrate tightly with revenue recognition

Define standard revenue recognition templates for each product and type of product
Create revenue rules based on SOP 97-2 and 98-9
Allow changes to standard processing during order processing
Create different rules based on type of sale (e.g. new sale versus renewal)
Link multiple line items together to be managed under the percent complete method

3 STRATEGIES FOR SUCCESS

How to succeed
in challenging economic times

LEARN MORE ABOUT SOFTRAX SOLUTIONS

CUSTOMER PERSPECTIVE

"You specify the appropriate revenue recognition treatments when you enter an order in the system, and Softrax just does it all. A little work on the front end saves thousands of hours on the back.”

Doris Silva
Senior Manager, Contracts and Legal Administration
Accellos

+ read case study

FINANCIAL IMPACT ANALYZER

Estimate the financial benefits Softrax can deliver to your business.

+ download now

WEBCAST ON DEMAND

How to Get the Most Out of your Business During Challenging Times

+ view now

Order Management

Manage your sales contracts through a single system designed for your business