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.
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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
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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
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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
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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
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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
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Learn
more about Softrax' billing and revenue solutions by attending an
online demo.