Once a contract is created in Tensoft Revenue Lens, you can invoice contract lines. You can either do bulk invoicing across all unbilled lines within a date range or you can filter on specific customers or contracts.
In this demo, the first of three invoices is ready to be billed. The invoice is selected and created.
Reviewing the Invoice
After creation, the invoice can be reviewed in multiple ways – directly on the web page, or from the contract to review contract details or look at ta customizable PDF that is based on a word template that users can define.
Once the information is confirmed to be accurate, the invoice can be marked as reviewed, indicating it is ready to be finalized.
Finalize Invoices
When finalized, the invoice is posted. Posting creates a revenue agreement and sends the invoice to your billing ERP system.
You can then view the list of invoices that have been created, including the one just posted.
Revenue Management and Amortization
After posting, you can move into revenue management to review what was created.
Revenue Lens uses the billing frequency to determine the amortization period. In this case, the amortization period is 12 months.
From the revenue agreement, you can navigate back to the contract, view the invoice or view the contract details.
This creates a two way link between contract management and revenue management.
Computing and Posting Revenue
At this point, the contract is ready to be computed. From there, you can compute and post revenue on the contract.
To learn more about contract management in Revenue Lens, contact us today!
