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The KHAMELEON Contracts suite has been designed to work in unison with our Orders & Distribution suite to provide a high level view of summarized order detail relating to customer contracts. This suite delivers a capsule-like view of consolidated order activity in one place on the system and serves to streamline the management of order modifications on sales, licensing, consulting, maintenance, subscription, upgrade contracts and more. It also regulates the maintenance and scheduling of related billing adjustments and revenue recognition guidelines.
Most products and services providers manage customer orders that combine transaction-based orders with recurring service agreements. They are billed in different ways and the revenue recognition associated with each may vary, based on current industry standards. When attempting to manage these processes manually, they become very labor-intensive and can result in the risk of errors.
Through the integration of Contracts and Orders & Distribution suites, and the subsequent delivery of data to our Financials and Projects suites, KHAMELEON Contracts automates the process of time-consuming manual billing and revenue recognition, while simplifying the administration and delivery of critical financial and operations data for reporting. Efficiency and accuracy in the management, reporting, and reconciliation of customer-specific contract information is ensured with KHAMELEON.
Companies offering products and services that include recurring agreements within contracts find KHAMELEON integrated suites an ideal solution. Whether your contracts generate billing based on transactions or on-going, fee-based agreements, or a combination of the two, our Contracts and Orders suites save you time and expense by automating order-specific processes. The built-in bill generation tool calculates periodic charges and consolidates multiple charges from multiple orders into a single bill, detailing all customer activity on one invoice. The flexibility in offering separate billing and revenue recognition schedules is also available, enabling use of a specific billing cycle, while still recognizing revenue appropriately over the course of a service term.
Flexibility and simplicity are essential when administering contracts using different business models. With KHAMELEON Contracts, multiple billing and revenue entries, multiple set-up charges, and extensive financial transactions are automated and customized to the way you do business – in one snapshot of your customers’ activity through one view in the system. You set up the order-specifics under one customer contract and the system manages and implements it for you. As changes occur in the lifecycle of an order, the Contracts suite keeps it visible in a more simplified format – while, at all times, maintaining financial integrity. KHAMELEON Contracts captures critical order, service, and customer information at the time data is being entered into your system, and carries it through the rest of our integrated suite, to maintain efficiency and accuracy with your most valuable asset – your customer.
"Contracts Management" is part of the Khameleon line of products, developed by Khameleon Software.