SOFTRAX Revenue Management System for Sales and Marketing Channels
Drive Sales, Engage the Customer, Realize Revenue
How SOFTRAX RMS Works for Sales and Marketing
The SOFTRAX Revenue Management System (RMS) provides a high level of automation to support all types of price models, all with keeping in compliance with ASC 606 revenue recognition.
Automation by Policy
Automation by Policy differentiates SOFTRAX RMS so that billing processes run as needed, regardless of the complexity.
Subscription and Consumption Billing
SOFTRAX RMS manages Subscription and Consumption Billing and provides an easy way to launch and maintain MRR and ARR to capture all revenue.
Milestone Billing
Milestone Billing relies on data and payment terms from the contract in creating the scheduled billing activities needed. SOFTRAX RMS allows these to be seamlessly deployed and managed to keep you on schedule.
Contract Renewal Management
Contract Renewal Management is key to keeping revenue flowing, especially in turbulent economic times. Taking a leading approach to contract renewals reduces the likelihood of revenue loss and leakage and allows you an easy means for ASC 606 compliance. SOFTRAX RMS has you covered in every phase of contract renewal management.
Simple Solution for Complex Price Models
SOFTRAX RMS accommodates different price models, including subscription, consumption, and milestone, helping with the consolidation of charges within a billing cycle. SOFTRAX RMS allows flexible configuration and variety to assist sales and marketing teams in fine-tuning their pricing strategy. For example, each service provided to a customer can have a completely distinct set of attributes, creating organizational flexibility when selling and delivering products. It also provides customers with a streamlined bill presentation of all services.
Dynamic Contract Management
Sales contracts define the relationship between company and customer and are the foundation for every billing activity. 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, SOFTRAX RMS seamlessly processes product add-ons, miscellaneous charges, and other contract changes that occur during a billing cycle. SOFTRAX RMS is designed to integrate with usage metering systems to automate bill construction based on consumption.
The SOFTRAX Advantage
Seamless Integration
SOFTRAX RMS automatically generates billing schedules and manages transactions over the life of a customer relationship. SOFTRAX RMS effortlessly processes product add-ons miscellaneous charges, and other contract changes that occur during a billing cycle.
Automate Complex Billing
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.
Drive Efficiency
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.