August 15 by Eric Dreshfield

As the revenue management process matures, it’s important to adopt a solution that can meet today’s needs, scale with growth, and work with other internal systems. Here are some things you should consider during the evaluation process.

Contract Visibility for Revenue Protection

This must-have feature is necessary because it:

Automates process from contract to order invoice
Creates better renewals based on assets, contract terms, agreed-upon pricing, and purchase history
Syncs orders & invoices with the latest contract terms
Provides insight into revenue from products, services, and subscriptions
Ties revenue schedules to fiscal structure of contracts
Provides early visibility into inflight order changes

 

Global Scalability for Revenue Assurance

This must-have feature is necessary because it:

Enables enterprises to create, model, and launch complex revenue management programs
Rapidly deploys updates to rebates, orders, invoices, etc.
Robust integration APIs synchronize information across systems, from opportunity to invoice
Single platform to manage complex global programs

Simplified Management

This must-have feature is necessary because it:

Auto-generates revenue schedules based on contract terms
Manages revenue processes for products, services, and subscriptions
Enables Excel format for measuring revenues, rebates, renewals, and more
Adheres to corporate and financial guidelines
Processes orders, renewals, and invoices wherever and however desired

Revenue management, part of a full Quote-to-Cash footprint, addresses critical revenue processes that occur after customers have signed an initial sales contract, including order management, billing, revenue recognition, and rebates. By providing visibility into contract detail – including agreed-upon prices, milestones, and expiration dates – automated revenue management ensures that businesses can accurately fulfill orders, pay appropriate incentives to partners, and intelligently renew contracts.

Learn more by downloading the Ultimate Guide to Revenue Management.

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