We all realize that Enterprise applications like CRM, ERP, and accounting are complex systems. Now add the revenue generating applications of contract management to the mix. Complicated? Companies are baffled by the layers of complexity needed to successfully generate revenue from a variety of independent applications. Because of the manual mechanics required to integrate information from systems not designed to work together - and a lack of knowledge in exactly how to do this - decisions must be made to increase administrative cost, design a successful home-grown process (a developer’s nightmare), or simply forgo the revenue opportunity. All of these pose separate challenges to the normal company.
The contract management business is bursting with multiple layers of complexity including levels of service, length of a contract, and a variety of billing options and reporting needs. To the uneducated, the business of contract management may seem straightforward. But to anyone familiar with it, the complexity is unquestionable and far-reaching.
Contract options can include multiple billing terms – prepay, annual, semi-annual, quarterly, monthly, and more – and there may be the option to renew automatically. Invoices may be consolidated to one location or sent to multiple locations for the same contract; they may be accumulated by billing terms, or sent immediately based upon the charge start date. Additionally, billing may be aligned to the end user’s fiscal date, calendar aligned or contract aligned. As the world becomes more connected, requirements for multi-language and multi-currency become more common.
If you are attempting to manage and track all of your service contract complexities in-house, chances are you are using multiple systems never designed to work together. Your solutions probably differ in technical architecture and you are left struggling to aggregate and pull data from each one to make any meaning of your service and product lifecycles. A much simpler solution is now available. ONEview.
ONEview, a contract management solution, integrates with all unconnected systems necessary for successful contract management; this unity allows maximization of service revenues while greatly cutting administrative costs associated with the management of service lifecycles. The ONEview solution provides strong reporting and support contract notification via a multi-tiered down line of manufacturer to distributor to reseller through end users – delivering value across the entire supply chain.
If you’re interested in increasing contract management revenues, diminishing administrative cost, using a single synced-up data system, and getting the most out of recurring support contract business – let’s connect to discover more about the ONEview solution. Contact Scott Uttenreither at: [email protected].