We sell many things as subscriptions - printer cartridges, magazines, lawn-mowing services, or Software as a Service (SaaS). Subscriptions reassure clients that the product/service will be delivered without them having to ask for it.
If a customer subscribes to a product/service that will be delivered every month and pays for it monthly, then the revenue can only be recognized when payment is received each month.
To forecast revenue for such subscription items, revenue must be split, and each installment should be associated with a date.
The Revenue Schedules add-on in Vtiger does exactly that. Revenue Schedules help in accurately forecasting revenue for products/services sold via Buy Now, Pay Later schemes such as EMIs.
Revenue Schedules Add-on Benefits:
- Simplified revenue management: With Revenue Schedules, you can easily manage complex revenue streams, including recurring revenue, deferred revenue, and more. This feature streamlines the revenue management process, saving you time and resources.
- Accurate forecasting: Forecasting based on Revenue Schedule items provides a more accurate view of financials.
- Customizable schedules: With Revenue Schedules, you can create custom schedules for your products and services, allowing you to tailor your revenue management to your unique business needs.
Revenue Schedules integrates seamlessly with Vtiger CRM. When a subscription product/service is added to a Deal, the salesperson will be prompted to enter the number of installments and the starting date. A Revenue Schedule Item will be created for each installment and linked to the Deal. Forecasts can be viewed by the Revenue Schedule.
For more details, please view Revenue Schedules Help Article.
For a free trial of the Revenue Schedules add-on, please visit the Add-ons marketplace from the Main menu after logging into Vtiger.