TRACT® eliminates confusion created by inaccurate or delayed billing. With TRACT, the powerful Data Mediation Engine transforms even the most complicated usage and consumption data into billable events. Instead of obscure line items that produce more calls to customer support than payments, your customers can have a clear itemization of all their charges in a single, comprehensive invoice.
Up-to-date data can also be included from external sources to ensure customers have a complete summary of charges exactly as you configure it. By giving customers maximum visibility into their charges, you can get in front of any possible issues, minimizing disputes and maximizing collections.
The invoicing and receivables capabilities within TRACT allows users to do the following:
- Generate simple, highly-detailed and/or custom invoices using pre-configured templates on a pre-determined cadence
- Invoice, collect payment and manage revenue in local and foreign currencies
- Manage renewals with automatic price markups, discounts and trigger workflows, including auto and recurring payments
- Apply credit adjustments to invoices that have not yet been closed
- Resend invoices to customers or allow customers to access an online custom portal
- Track and report on balance status, outstanding invoices, days outstanding, payments
- Accurately and consistently review and report on all revenue streams