Consumption-to-Cash™ covers the entire lifecycle for products and services that are priced on a consumption-based or usage-based model. An extension of the Quote-to-Cash (Q2C) model, Consumption-to-Cash™ includes product/service configuration, pricing, quoting, entitlements, billing, collections, revenue recognition, settlements and analytics.
With consumption-based products and services, there are more sophisticated needs in terms of usage processing, rating and business logic that must be factored into the initial quote and every subsequent bill cycle. TRACT is an end-to-end monetization platform that automates the entire Consumption-to-Cash™ process.
At the heart of the Consumption-to-Cash™ process is the Usage Engine. The robust Usage Engine within TRACT digests consumption events and applies rate charges according to configurable business rules in real-time. This allows dynamic monetization, altering the amount to be charged as the products or services are actually being consumed. Virtually any combination of subscription, one-time, usage-based, tiered, threshold or rules-based billing scenarios can be managed automatically.
In the Consumption Economy™, product catalogs and entitlements are not as straightforward. The opportunities for new features, bundles and services to be assembled and reassembled according to any variable, at unique, tailored price points is limitless. TRACT is architected to continuously analyze and synthesize subscriber usage data and product information which is incredibly useful as businesses evolve their products and as subscribers’ behaviors around usage and preferences mature over time.
Complete visibility into consumption data not only ensures accurate invoicing but also enables opportunities for up-sells, cross-sells, renewals and net new revenue. TRACT has a rich set of business intelligence dashboards, analytics capabilities, standard reports and ad hoc reporting functionality to quickly and easily view the end-to-end Consumption-to-Cash™ process.