How to add renewal agreements and discover the product catalog in TRACT


Billing and revenue management platform for XaaS and IoT

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How to add renewal agreements and discover the product catalog in TRACT

Video Transcript

Speakers in this video: Jimmy (GetApp) and Dan (TRACT)

Dan: One other thing that you might want to do is create agreement to this point as well. So in Tract an agreement is essentially a period of time measured in months and an action the happens at the end of that. So we see here, we have a six month agreement that is set to automatically renew and with that you can have various actions around the renewal; so does it renew at the service price, do i want to deactivate the service, does it renew at the product price, is there some sort of adjustment in there as well, if I do some sort of early termination do I have a charge, is that a dollar amount or is that percentage, do I have a proration as well and you can a various as Tract is a multi-currency application and we support all the ISO countries, you can have agreement associates on specific currencies as well. And there are other options with agreements as well that we can get in to such as if you are setting up, let's say I'm creating a new customer, I'm creating an order and I want to say that they have this service and it's on a 12 month agreement and then we can actually set so that it automatically renews at a different service - maybe it renews from a silver package to the gold package and it renews at a two year agreement from a 12 month. So you have a lot of options that can be set up as well. Now also under the products tab where we found the agreements is the products catalog and so just having an overview of the product catalog, here we see quite a bit of information about the products that have been created, we see various categories that can be created and this is mainly for accounting purposes as well. As well as the product types and it's descriptions - is it a one time fee, is it an add on to a subscription, as well as various tags that can be used for filtration purposes, so if you have quite a few excuse in your product catalog you can filter them out by you know is this product currently available or for sale or is it not available, what type of product is it, what category is it in as well, as well as if you want to add another dimension of filtration, if you want to have specific types of tags to differentiate products as well.