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Contract and Renewals Management

Automate Your Maintenance Renewal Process and Optimize Customer Revenue.

Contract renewals are a critical revenue source for many businesses. Yet many companies still rely on desktop tools and custom systems to manage their renewals, greatly increasing the risk of missed revenue.

SOFTRAX offers a fully integrated and automated solution, eliminating inefficiency, confusion, and risk while bringing renewals directly into your finance operations.

 

Optimize Renewals Throughout the Revenue Cycle.

    • Customize renewal rules using a broad range of criteria — date, product, location, customer, and more
    • Automate pricing based on contract terms and coverage dates
    • Capture all maintenance information at order entry no downstream reentry needed
    • Automatically create revenue schedules, renewal notices, invoices
    • Deferred revenue automatically posts to the general ledger each month
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Identify Upsell and Renewal Opportunities.

    • See when a contract is up for renewal and what was previously negotiated around that contract
    • Create renewals using detailed account information, including multiple bill-to addresses and company hierarchy
    • Automatically incorporate changes to the invoice into all appropriate general ledger accounts
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Streamline Renewals for Customers.

    • Easily send pro-forma invoices — early negotiations mean effective upselling
    • Renewals always include current contract terms, including pre-negotiated changes in pricing and discounting
    • Consolidate multiple renewal notices and simplify renewals with automated co-termination
    • Maintain global maintenance contracts for multinational companies with international business units
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Integrate Contract Data With Your Accounting Processes.

    • Simplify administration and accounting for multi-element contracts
    • Facilitate complex billing
    • Support compliance with Sarbanes-Oxley, SEC and FASB guidelines
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Put an End to Revenue Leaks With Better Visibility.

    • Quickly get data needed for timely renewals and maximize your uptick potential
    • Instantly access detailed historical and future views of deferred and recognized revenue streams
    • Improved insight into renewal revenue: follow new dollars added, churn, and total renewal base
    • Track the status of each renewal as it moves through the process
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Learn More About Maintenance Renewals  Talk to Us