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.
Billing Manager accommodates the consolidation of charges within a billing cycle. This allows both identical, recurring charges to be combined with variable, milestone, renewal, and other charges to be presented on the same bill, with the option of splitting the bill among multiple billing parties. Each service provided to a customer can have a completely distinct set of attributes, creating organizational flexibility when selling and delivering products. Billing Manager also provides customers with a streamlined bill presentation of all services.
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 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 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 helped us capture an opportunity to operationalize the new revenue recognition guidance with automation that advanced our existing process.”