SOFTRAX Solutions | Complex Billing and Revenue Accounting

The real key to implementing a sophisticated billing solution is how tightly integrated it is with the current terms of your customer agreements. Contracts are the source for all the terms that govern how you bill your customers, track expenses and how you recognize the revenue you’ve earned.

SOFTRAX was specifically designed to seamlessly integrate robust billing functionality with in-depth information about contracts and related records. This ensures your billing activity is always synchronized with the latest changes and amendments to a contract’s key elements. SOFTRAX automatically generates billing schedules and manages transactions over the life of a customer relationship. SOFTRAX also handles miscellaneous charges and contract changes that occur during a billing cycle with ease, and creates associated matching expenses, such as royalties, commissions, and unit costs to these items.

Solution highlights

Powerful and flexible functionality gives you total control over subscription, transaction and usage billing models

Consolidate multiple charges into a single bill
Manage simple and complex billing schedules
Multiple, customizable formats for bill presentation
Automatically split bills across multiple bill-to addresses
Distribute charges across multiple services
Control discount activity on individual services

Manage Royalties, Commissions, and other additional expenses

Create expenses based on percentages, fixed amounts, and unit rates
Define the period over which an expense should be calculated
Setup multiple expenses for each charge
Automatically assign expenses to vendors, sales people, and products

Customize Billing to Your Customers’ Needs

Easily manage prepayments:

Ensure proper application of a prepayment against a contract
Link prepayments to any associated services on the contract
Create revenue schedules for prepayment
Review, credit, and cancel prepayments

Revenue Accounting and Revenue Management

Independently manage billing and revenue schedules
Fully control revenue and expense general ledger account distribution at the time of contract creation
Track unbilled and invoiced revenue and receivables activity
Account for complex adjustments
Automate journal entries for every billing and service activation event
Simplify compliance with complex accounting standards

Sophisticated Pricing Models

Easy rate table creation and ongoing modification
Support for tiered volume discounts
Easily implement variable pricing bands over the life of a contract
Visibility into how time-dependent pricing affects future account profitability

THE SOFTRAX SOLUTIONS

CUSTOMER PERSPECTIVE

"The SOFTRAX system generates all of our bills automatically in two days instead of two weeks.”

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Complex Billing

Automate complex billing, contract management, and revenue accounting with one solution