Take Charge of Your Contract Billing and Run with ItResources
Take Charge of Your Contract Billing and Run with It
By Paul Johnson
CPA, CGMA, MBA
As your subscription business grows and changes, so do your contracts. However, that means your billing and revenue recognition changes too.
When it comes to aligning your contract pricing and billing schedules to your complex business model, you shouldn’t have to suffer under ill-fitting accounting software options just because your contracts become more complex.
To retain control over your subscription and contract billing to fit your business, consider modern options designed to accommodate the way your company works.
Sage Intacct, a best-in-class cloud-based financial management solution gives endless pricing and billing schedules for subscription and contract-focused businesses to create their invoicing around their contracts, instead of the other way around.
The easiest and simplest way to stay on the fast track to business growth is to remove productivity bottlenecks due to manual processes, by automating those areas of weakness.
Billing: Whether you need regular period billing, with milestones, or nonlinear, Sage Intacct’s wide array of billing options allows you to tailor automated pricing and frequency to fit your business, and speed your billing processes.
Renewals: Set up contracts in Sage Intacct to automatically trigger renewals as contract end dates approach.
Contract Modifications: Accounting for add-ons, cancellations and changes to existing contracts can be set for automation to free your accounting teams without missing important contract details.
Not all subscription and contract pricing is alike. Having more pricing options means you can streamline your billing with a faster setup process.
Set Your Own Designations: Price per thousand, minimum flat fees, usage pricing and discount tiers are all options you can set within Sage Intacct for reduced billing errors, and a faster billing process.
Flexible Models: Fixed pricing can be set with a simple amount, or a combination of options in quantity, rate, multiplier or discount.
FEATURES FOR CONTROL AND SPEED
Small details, systems disconnection and dated reports generated from on-premises systems all add manual labor and hours to your teams’ workload and hold back growth. Sage Intacct supports contract and subscription businesses with unique features that cater to complexity.
Integration: Because Sage Intacct integrates well with Salesforce, your quote-to-cash process moves more quickly as data from Salesforce travels seamlessly to Sage Intacct for stronger collaboration, greater accuracy, and a faster moving sales funnel.
Visibility: Get deep insights into every area of your accounting for contracts billing and deferred revenues, and a 24/7/365 open window into your key metrics from your dashboard.
Compliance: Sage Intacct is the first software solution its kind specifically designed to support ASC 606 compliance, and make revenue recognition easier for subscription and contract-based businesses.
Is your contract billing wearing on your accounting teams? Take charge.
Give us a call – we want to help simplify the process.