The key to avoiding a migration back to spreadsheets or customizations is to deploy the most sophisticated billing solution available. SOFTRAX Billing Manager is the only complex billing management solution that offers enterprise level billing functionality to handle one-time, milestone, consumption, subscription, and renewal billing.
SOFTRAX milestone billing software simplifies your milestone billing challenges. Now it is easy to construct complex milestone schedules, stay informed of pending milestone invoices, and perform ongoing contract modifications. SOFTRAX milestone billing software makes milestone billing manageable.
SOFTRAX subscription billing software is the perfect solution for managing simple and complex billing schedules. It deploys easily for simple and complex subscription models, captures all stages of revenue, and eases reporting for ASC 606 / IFRS 15.
SOFTRAX consumption and usage based billing software lets you effectively manage the complexity of usage based billing. Now you can easily monitor and factor the amount of consumption occurring in each month, including minimums, overages, and tiers.
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.
Ensures your billing activity is always synchronized with the latest changes and amendments to a contract’s key elements.
Automatically generates billing schedules and manages transactions over the life of a customer relationship.
Manages royalties, commissions, and other expenses based on percentages, fixed amounts and unit rates while automatically assigning expenses to vendors, salespeople, and products.
Automatically processes billing schedules by policy, removing human interaction on a transaction-by-transaction basis to increase efficiencies and decrease risk.
Makes it easy to customize billing according to your customer’s needs allowing you to take a customer-first approach to billing management.
Extensive reports and data give accountants, auditors, and executives unparalleled visibility into past, current and future business performance.
“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.