The effective management of service agreements is a key requirement for success for contractors that perform service work. Service Agreements provide real value by creating an ongoing revenue stream as you manage a growing service business. Most importantly, Service Agreements remove the guess work and eliminate anything from slipping through the cracks by allowing you to determine when agreements are going to expire, track usage rates, schedule routine maintenance work for each of your customers, and perform monthly forecasting.
Fully integrated with Work Order Management and part of a powerful construction accounting solution, Service Agreements gives you broader visibility into your customer relationships. This module automates work order creation, facilitates periodic billing, and manages the renewal of agreements and ultimately the profitability over the life of the agreement.
Conduct Comprehensive Performance Analysis – Insight into whether pricing needs to be escalated or reduced.
Facilitate In-depth Profitability Tracking – Track profitability for an umbrella agreement with all revisions from inception with changes and renewals.
Facilitate Renewals – Receive early notification of expiring agreements to initiate the renewal process. Send renewal offers to customers in a timely manner ensuring the agreement never lapses in coverage.
Flexible Revenue Recognition – Recognize revenue periodically – i.e. monthly, quarterly, annually – on a frequency pattern other than when billed.