With SOFTRAX contract renewal management software, renewals happen in a timely manner and for the appropriate revenue amount, including any agreed-upon uptick in the renewal rate.
Contract Tracking Through Renewal
Historical and Future Views of Revenue Streams
Seamless Co-Termination
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SOFTRAX Contract Renewal Management Software lets you track the status of every contract through the renewal process. This reduces revenue loss and leakage and allows quick access to the data needed for timely renewals. You can instantly see historical and future views of deferred and recognized revenue streams and easily follow new dollars, churn, and total renewal base for better insight into renewal revenue.
SOFTRAX contract renewal management is a component of the SOFTRAX Revenue Management System, a cloud-based SaaS solution that enables the best in contract renewal management software. This robust solution is designed to easily integrate into existing systems to solve challenges specific to billing and contract renewal management.
Have upcoming renewals at your fingertips in seconds.
Easily generate pricing at the product-, contract-term, or reset-date level.
Seamless co-termination, which enables the proration of subscriptions, setting a single renewal date.
Design contract renewal by date, product, location, or customer.
Automate the key contract renewal processes, saving time and resources.
Extensive reporting allows a detailed look into the lifecycle of every contract.
“Through an outstanding collaborative effort with the Softrax team, we improved our use of the SOFTRAX features and functionality that will help Epicor grow and scale its install base and recurring billing.”
“SOFTRAX is a win-win for us. We saw significant efficiency improvements within two weeks of go-live. We have dramatically increased our transaction volume through organic and M&A related growth without a need for increased headcount.”
“SOFTRAX offers the flexibility to handle the various forms of complex billing and revenue recognition we require. SOFTRAX helps us maintain our controls at a system level, keep close times short, and avoid a need to scale human resources as our business has grown.”
“SOFTRAX helped us capture an opportunity to operationalize the new revenue recognition guidance with automation that advanced our existing process.”
Do you know the five steps of ASC 606 and the impact of them on your revenue? The SOFTRAX ASC 606 Checklist can help.