Microsoft Dynamics AX Contract Management
The role-based Contract Management and robust Revenue Recognition Platform in Microsoft Dynamics AX help organizations to speed up their businesses by managing numerous types of contracting exercises in a cost-effective manner.
Dynamics AX Contracting module allows easy tracking of the unbilled revenue, meet contract specifications, support statistical calculations, ensure consistent pricing throughout the trade agreements, check smooth cash outflow, and optimize company's overall Contract Life cycle Management capabilities.
Designed for All Industrial Domains
The Dynamics AX Contract Management Solution natively performs diverse contractual tasks to readily cater to the wide-ranging corporations beginning from the high-tech services firms, hardware, software, infrastructure security services companies, high-growth technology services providers, public or private sectors, small to very large (manufacturing, distribution, construction organizations), B2B, and B2C enterprises.
Adheres to Strict SLA
The Agile architecture of the Dynamics AX together with the Contract Management Module has the proficiency to execute thousands of Long-term Multi-element Business Contract functionalities while complying with the regulatory standards of the Generally Accepted Accounting Principles (GAAP), International Financial Reporting Standards (IFRS), International Accounting Standards (IAS), and Accounting Standards Codification (ASC 606).
Benefits of the Microsoft Dynamics AX Contract Management
The leading organizations are already considering to do away from ineffective Contract Management systems, practices and foregone excel spreadsheets that only damage commercial relationships, elevate financial risks, obstruct business performance due to lack of standardization. Hence adoption of the effective Microsoft Dynamics AX Contract Management Application is rising consistently.
Below are Some of the Immediate Benefits of Using Dynamics AX Contract Management Software:
For Accurate Revenue Recognition
MS Dynamics AX determines specific conditions and critical events under which the measurable revenue is recognized. The automated revenue recognition functionality is extremely important in managing your fixed price, subscription based projects and so forth.
Using the dual application, with Dynamics AX, you're able to manage split funding scenarios, configure billing cycles (up-front or in-arrears), execute billing frequencies (monthly, quarterly, half-yearly, annually) and more.
Contract Renewal & Resumption
Continuation of the Contract is based on percentage, flat amount, increase in the index-based contract amount, and applicability to numerous renewal types (automatic, linear and non-linear based renewals). The MS Dynamics AX solution has the tendency to even generate automatic renewal notifications and distribute the same across the customers worldwide.
Auto Contract Realignment
During the tenure of the contract, all the complex projects undergoes re-adjustment of some nature. Now, it's easy to change or re-adjust your contract amount, tenure, revenue recognition, billing cycles and rest of the entities with MS Dynamics AX.
Dynamics AX responsive framework creates a clear chronology of the invoice or itemization distribution. This allows you to set up infinite contacts, receive invoice copies, distribute the received invoice copies, for facilitating your business operations.
Prevents Revenue Leak-out
The user-friendly Contracts Management System linked with Dynamics AX significantly helps maintain billing accuracy while reducing pilferage of the revenue. The system diagnoses the recurring errors, so as to ward off the flaws during billing and payments.
Learn where your company falls on the Contract Management Maturity Scale.
Contact Raybiztech to catch up with the Contract Management Maturity Assessment Today!