The subscription business model not only revitalized revenue streams, but also brought the marketing suite into areas traditionally run by the CFO. Subscription billing connects back-office functions to the customer like never before, and sales and marketing executives need confidence in the billing system to ensure they are optimally monetizing their relationship with their clients.
The SOFTRAX RMS provides a high level of automation to support all types of price models, all with keeping in compliance with ASC 606 revenue recognition.
Milestone Billing relies on data and payment terms from the contract in creating the scheduled billing activities needed. SOFTRAX allows these to be seamlessly deployed and managed to keep you on schedule.
Subscription and Contract Renewal Management is key to keeping revenue flowing, especially in turbulent economic times. Taking a leading approach to contract & subscription renewals reduces the likelihood of revenue loss and leakage and provides an easy means for ASC 606 compliance. SOFTRAX has you covered in every phase of contract renewal management.
Sales contracts define the relationship between company and customer and are the foundation for every billing activity. The SOFTRAX RMS handles each contract as a dynamic and ever-changing relationship with the customer. It supports maintenance of in-depth information about contract details and related records, as well as a full audit trail and history of changes and amendments to a contract’s key elements. In addition to managing scheduled activity, the RMS seamlessly processes product add-ons, miscellaneous charges, and other contract changes that occur during a billing cycle. The SOFTRAX RMS is designed to integrate with usage metering systems to automate bill construction based on consumption.
The SOFTRAX RMS automatically generates billing schedules and manages transactions over the life of a customer relationship. The RMS effortlessly processes product add-ons miscellaneous charges, and other contract changes that occur during a billing cycle.
The SOFTRAX RMS provides a true path to automation and transparency across even the most complex billing and revenue recognition scenarios. SOFTRAX RMS gives you the ability to automate the most complex billing structures for consumption or subscription billing without the need to resort to spreadsheets.
The SOFTRAX RMS is designed to take in data related to billing from any number of upstream systems, including order, CRM, CPQ, or change event data. The policy-based concept behind the RMS is designed to eliminate manual touches to drive efficiency and reduce risk.