Adding sophistication to pricing in contract management

Adding sophistication to pricing in contract management

If you have ever had to add price modifications into a customer contract, then you’ve probably experienced the administrative challenges of creating multiple contracts and assigning them to the same customer.

Even with the best contract management tools in place, such a task can make monitoring and modifying contracts a challenge. An additional contract often means work duplication. It means having to create new workflows and set alerts at different stages to ensure nothing slips through the cracks. When it comes to pricing, this is all the more sensitive, as customers should ideally be informed in advance of upcoming changes and setting up the right communication to do this, with multiple contracts in the mix, only results in more moving parts.

At Nexudus, we’re passionate about making contract management simpler for both operators and their customers. We’ve streamlined the entire process of scheduling any price changes in contracts, without having to issue multiple contracts. Let’s explore how this works. 

Smart price scheduling. 

We’re introducing a new way to schedule price changes in contracts. Any customer or proposal contracts managed via Nexudus now have the option to include a ‘Schedule’. Using this function, space owners and operators can define a new price for a contract and automatically ensure it applies from a particular point in time.

As you can see, changes in contract price, once defined by you, will take place on the billing day of each contract, without having to manually modify changes or create a new contract.

This can work with weekly contracts too, with pricing changing dynamically every Monday, depending on the changes you’ve inputted within your schedule.

Superior flexibility.

Nexudus customers can add as many schedules as needed for a given contract for a 10 year period. To make the process of managing multiple pricing changes even easier, we’ve set up rules that only allow scheduled pricing changes to happen on the ‘invoiced period’ of a contract.

Owners and operators can rest assured that schedule steps are mapped automatically to invoicing dates for each of the customers in their directory. This negates concerns of any duplication and takes off a layer of administrative concern from the process of modifying pricing.

Full support for proposals.

Any proposals issued can also have schedules and price stages built into them. When sending a proposal through Nexudus, the page the customer sees will clearly outline the pricing schedules you’ve laid out for them. 

These details are shown for up to 12 months, with the exact contracts and products to be invoiced as well as the total for each of those months. 

And yes, we’ve made sure to update our document templates on the Nexudus platform, to ensure that they’re now equipped to take advantage of smart price scheduling. Customers will now see two new tables -  "BillRun" and "BillRunByDate" - allowing them to build a similar layout for future pricing modifications in customer contracts. 

At Nexudus, we’re passionate about creating fully customisable, easy-to-integrate software that manages your entire space - from reception to rooftop. For over 11 years, our award-winning tech has helped workspace owners and operators be more efficient, provide users with an unforgettable experience and gather advanced analytics for better decision-making. Discover how we can help you today.

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