Reduce Your Contract Workload!
Effectively managing your service contracts can be one of the biggest challenges your service business faces. Service contracts tend to be complex and may include pricing exceptions, different levels of coverage, and even different billing cycles. Your contract information must be accurate, but it takes a lot of work. A great way to minimize this workload is with SouthWare’s Contract Management.
Contract Management handles the service contract functions for SouthWare’s Service Management Series, a complete system for service businesses. In the Service Management Series you can also get Service Invoicing, Service Orders, and Equipment Servicing options. With Contract Management you get the help you need to record, track, propose, renew, service, and bill your service contracts accurately and efficiently.
With Contract Management, you can
- Keep your service contracts current and accurate with less work
- Know how profitable each contract has been
- Make sure that you don’t let any service contracts lapse without first proposing a renewal
- Check on all service work done against a particular contract
- Know the correct amount of earned and unearned contract revenue without doing a lot of calculations every month
- Instantly know whether a piece of equipment is covered by a service contract
- Make sure you propose a service contract on every piece of equipment you sell
- Eliminate billing errors by ensuring that different contract rates, limits, and coverages are automatically considered on service orders
- Make sure you don’t forget any regularly scheduled work
- Make sure your contract billings are sent out on time
Reduce your contract workload while improving the accuracy and value of your contract information. Get SouthWare’s Contract Management.
Key Features of Contract Management
- Extensive Standard Information
- Multiple contracts per customer
- Contract assigned to service location, territory, and route sequence
- Contract detail may include recurring billing, recurring services, or negotiated pricing
- Pricing may be based on equipment, services, or a negotiated amount
- Pricing may be based on unit rate table
- Handles contracts based on meter usage
- Standard renewal frequencies and automatic renewal option
- Option to generate renewal proposals
- Option to print contract/proposal addendum
- Option to copy a contract into new contract
- Assign equipment to contracts - interface to Inventory/Sales to help ensure you propose a service contract on all equipment you sell
- Flexible billing frequencies to generate invoices for cycle billing
- Option to accrue unearned revenue and amortize over life of contract
- Option to prorate initial and final bills
Contract Coverage Features
- Define billable status of parts, labor, travel, and other services
- Define price levels and accounting
Management and Reporting Features
- Contract inquiry
- Contract profitability analysis
- Contract renewal status
- Unearned revenue analysis
Other Special Features
- Create proposals / turn into contracts
- Generate scheduled service orders
- Prepaid contract amounts may be applied to future service orders
Contract Management can help you answer such questions as
- Which contracts are due to expire next month and how much are those contracts worth?
- What service work has been done so far against this contract?
- What’s our total amount of unearned contract revenue as of the end of this month?
- How can we add 2% to our standard rates for contracts that are billed quarterly instead of annually?
- Did we make a profit on this contract last year?
- What will be the price of this contract this year with the new equipment that has been added?
- How can we quickly present a customer with proposals on the three different levels of coverage we offer?
- How do we make sure that our service contract customers get higher priority than other customers?
- What’s the right amount to bill on a contract that covers only part of a normal billing cycle?
- How do we charge for excess meter usage on a contract?