The complexity driven by new monetization strategies in areas such as Internet of Things (IoT), Over-the-Top (OTT) and the overall application of digital technology throughout all levels of business is making sales processes increasingly complicated. These new complexities create endless possibilities for errors for product packages, price lists, discounting and quoting. The sheer volume of these unique configurations – especially when involving consumption-based services – can lead to massive product catalog proliferation and frequent confusion for the sales team or third-party distributors.
The flexible product configuration, guided selling and price automation features in TRACT® support an array of order configuration combinations ranging from simple subscription orders to complex multi-product orders. For companies with one-time, subscription and usage-based offerings, the ability to generate quotes on-demand with dynamic or multidimensional pricing based on consumption is a distinct competitive advantage
The CPQ capabilities within TRACT include but are not limited to the following:
- Configure and maintain all product and service information
- Define the relationships, dependencies and/or prerequisites between the products and services that determine how and what is sold
- Create and manage multiple product configurations, services, terms, prices, discounts and usage charge rules including tiers, tapers and allowances
- Create unique marketplaces and price lists for various distribution channels, including internal sales team or external VARs
- Automate calculations such as agreement true-up and early termination fees as well as processes such as approval and price override limits
- Enable guided selling for the sales team with order augmentation capabilities
- Create draft and on-demand quotes for complex, dynamic monetization services
TRACT can stand-alone or integrate with traditional CPQ platforms, leveraging the combined strengths of both offerings. The strengths of TRACT’s functionality including the flexible product catalog, dynamic pricing and powerful promotional capabilities is built on a native architecture that enables combinations of one-time, subscription and usage-based offerings and the associated recognition of revenue.