Offering service contracts offers opportunities to retain clients and to monetize on their recurring service needs. As a company you benefit from having a fixed monthly, quarterly or yearly recurring service income. However, many firms lack visibility on whether they make money on these service contracts. How much money did we make on our service contracts? Did we sell the right contract? As a service provider you want to make money on your service contracts and prevent revenue leakage due to over-servicing and budget overruns.
Now in controlled release in Exact Online Project & Contract Management
Exact Online supports subscription run business by offering an all-in one solution including subscription management, CRM, projects and accounting. We now facilitate companies selling services using service or support contracts. Your employees can now easily track their time against subscriptions. Per subscription you can track actual billable work (based on hour & cost entries) versus. actual invoiced per period. Helping you to avoid losing revenues or identify opportunities to upsell your clients to higher value service contracts.
The screenshot above shows an example of a such a service contract. It is an annual contract where the client is invoiced a fixed monthly fee of 100 eur. The realizations overview shows that to date the client is over-serviced, as the sell-value of hour & cost entries exceeds the invoiced value.
Service contracts are available in Exact Online Project & Contract Management. Next to service contracts this product facilitates extensive capabilities for managing subscriptions and recurring revenues. We are currently in controlled release. For more information, please contact email@example.com