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Billing Solutions for Subscription, Transaction, and Usage Based Business Models

By Softrax - a division of AFS Financial Solutions

Current Version: n/a 
 
Product Description  

 

AUTOMATE COMPLEX BILLING, CONTRACT MANAGEMENT, AND REVENUE ACCOUNTING WITH ONE SOLUTION.

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


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Note: The vendor profile above for (Billing Solutions for Subscription, Transaction, and Usage Based Business Models
) is not written by Accounting Software 411. Information is provided and maintained by the vendor Softrax - a division of AFS Financial Solutions and/or by third party sources. Accounting Software 411 confirms basic company data prior to posting a profile. The above information is not a review or endorsement by Accounting Software 411 of the product.



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