Revenue Schedules for Subscription sales

- From the CEO’s Desk

Forecasting revenue for deferred revenue items (for example, items purchased via EMIs) or recurring revenue items (subscriptions) is cumbersome. 

Unlike traditional sales, which are recognized on deal closure, items for which money is paid over a period of time make forecasting revenue tricky.

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:

  1. 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.
  2. Accurate forecasting: Forecasting based on Revenue Schedule items provides a more accurate view of financials.
  3. 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.

 
 

What’s New in Vtiger

 
 

Multi-currency feature  

This feature is available as a Booster Add-on. You can now add various currencies from the Settings > Currencies page.

It is free for Learning, Developer, and Enterprise editions and priced at $4/User/Month for our One Professional customer.

 

Multi-currency feature  

This feature is available as a Booster Add-on. You can now add various currencies from the Settings > Currencies page.

It is free for Learning, Developer, and Enterprise editions and priced at $4/User/Month for our One Professional customer.

 
 

Webinar & Videos

 
 

Vtiger CRM + JioMeet Integration Overview Video

Are you a JioMeet user? Watch our video to learn about the benefits of integrating your JioMeet account with Vtiger CRM. 

 

Ask me anything (AMA) Webinar - #8 

Did you attend our AMA webinar? 

Here is a chance to clarify any doubts you might have about Vtiger CRM.  If you did not, click the link to view the webinar recording.

Our AMA webinars are a great way to interact with our consultants to learn more about Vtiger CRM. Do not forget to sign up for the next one!

 

Vtiger CRM + JioMeet Integration Overview Video

Are you a JioMeet user? Watch our video to learn about the benefits of integrating your JioMeet account with Vtiger CRM. 

 

Ask me anything (AMA) Webinar - #8 

Did you attend our AMA webinar? 

Here is a chance to clarify any doubts you might have about Vtiger CRM.  If you did not, click the link to view the webinar recording.

Our AMA webinars are a great way to interact with our consultants to learn more about Vtiger CRM. Do not forget to sign up for the next one!

 
 
 

The Vtiger Blog

 
 

Closing a deal is not enough. Retaining a customer is equally important. Keeping the promises you made, delivering customer demands on time, addressing their concerns, and taking immediate action are some challenging tasks you may face once you fix the deal. 

Read our blog on the post-sale activities you must focus on to retain your customers.

 

Closing a deal is not enough. Retaining a customer is equally important. Keeping the promises you made, delivering customer demands on time, addressing their concerns, and taking immediate action are some challenging tasks you may face once you fix the deal. 

Read our blog on the post-sale activities you must focus on to retain your customers.

 
 

Vtiger Academy & Knowledge Base

 
 

Have you signed up for Vtiger Academy yet? 

We have a list of how-to videos showing how to use and configure the CRM.

It is our one-stop learning destination for all things Vtiger CRM. 

Jumpstart your Vtiger CRM journey today!

 

Knowledge Base is our repository of articles (help documentation) and FAQs. For quick know-how about a feature, search for, and read an article.

Read our article to learn about the changes made to the Stock Management feature.

 

Have you signed up for Vtiger Academy yet? 

We have a list of how-to videos showing how to use and configure the CRM.

It is our one-stop learning destination for all things Vtiger CRM. 

Jumpstart your Vtiger CRM journey today!

 

Knowledge Base is our repository of articles (help documentation) and FAQs. For quick know-how about a feature, search for, and read an article.

Read our article to learn about the changes made to the Stock Management feature.

 
 

My Favorite Feature

 
 
Manoj BL
Test Designer

Stock Management

Inventory is critical to many businesses, and Vtiger’s Stock Management feature makes it easy to configure and manage your stock. 

In its earlier version, the customer would depend on workflows to reduce stock. Configuration was also complex to understand. Customers would have to check for the following. Was a workflow enabled? Was stock being reduced from the invoice or the delivery note? Was the stock increasing from a purchase order or a receipt note? 

I have been working on the Inventory module for the past 2-2.5 years. I enjoyed testing and validating the Stock Management feature more than any other. This is a dynamic feature and highly useful to the customers. It also gives meaning to sales and purchase orders by including committed stock and incoming stock fields respectively.

 
 

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