TRACT allows market-leading companies to quickly scale their business to capture market share and grow revenue. If you can measure it, TRACT will enable you to bill for it. TRACT truly offers the best platform to package, price and monetize any new innovative product or high tech service on a postpaid, prepaid or hybrid basis.
Flexible High Tech Billing
The foundation of TRACT is an agile monetization engine that supports any revenue model such as the following:
- One-time purchases
- Simple subscriptions
- Complex subscription management
- Plan entitlements
- Tiers and tapers
- Usage-based consumption
- Overage charging
- Pooling of usage across accounts
TRACT allows companies to handle massive volumes of data at Internet-scale. Invoice and collect payments around the world in local and foreign currencies and via a variety of methods including wire transfers, credit/debit cards, ACH, PayPal, checks or cash lockbox transactions. With TRACT, high tech service providers have full control over when and how customers are invoiced for their services.
For businesses that rely on distributors, resellers and partners, TRACT manages sophisticated revenue sharing scenarios. Royalties, commissions and sponsorship structures and the modeling of complex links between customer and partner pricing can all be done in the platform.
Usage Processing and Rating
With TRACT, your company can effortlessly scale from simple subscriptions to tiered or usage-based models. The real-time rating engine in TRACT® automates accepting incoming events, identifying the correct customers, metering (measuring) the volume of these events and rate plans and applying the charges to accounts. You can process and rate billions of usage events, complex charging and entitlements directly within the platform. Configure pricing rules for rate plans, rollovers, allowances and balances automatically. TRACT can also be used to allow subscriber access to updated account balances and specific usage allowances. TRACT received the highest possible score among global billing providers for its Usage Metering and Rating capabilities in The Forrester Wave: Subscription Billing Platforms, Q4 2015.
Native Revenue Recognition
Native to TRACT is a general ledger (GL) subledger for accounts receivables and taxes. The subledger is highly flexible and automates the revenue recognition process for high tech service providers by supporting a multitude of complex business and accounting rules. TRACT supports agreement considerations across multiple units of accounting for every sale and/or order per company defined revenue recognition rules. Manage revenue recognition on a daily basis taking into consideration various factors including, but not limited to: service period, agreement length, customer lifetime metrics and milestones.
Enable daily AR exports into your financial systems of record, such as one of the following:
- Microsoft Dynamics
TRACT received the highest possible score for its General Ledger Alignment capabilities in The Forrester Wave: Subscription Billing Platforms, Q4 2015.
Sophisticated Packaging Options
TRACT has a flexible product catalog that allows for multiple product configurations, services, terms, prices and discounts. Quickly see all products available, not yet available, and no longer available for purchase from a single view. TRACT also has the ability to stack product add-ons to an existing order, eliminating the need for packaging workarounds.
TRACT enables agile businesses to launch new recurring subscription and usage-based services quickly across the globe. Organizations using the latest in scalable cloud technologies and virtual architectures, benefit from the ability of TRACT to scale and burst with resource requirements. With TRACT, high tech service providers can have all the benefits of a robust, monetization platform operating in direct concert within their existing technology stack.
TRACT is also ideal for multi-national organizations looking to serve a global market. Examples of the internationalization features within TRACT include the following:
- Multi-jurisdictional taxation
- Multi-currency support
- Currency conversion to general ledger (GL) normalized to base currency
- Multibyte character handling