Service Contracts and subscription
A service contract is an agreement between buyer and seller to perform certain obligations at a predefined price rate and sets out the terms and conditions of the service.
Service contracts are used in different industries ,
Foundry Bean Global Work System satisfy the following requirement :
One time business model - based on one time purchase and payment
Recurring business model - based on recurring payment with purchase price determined in the customer contract.
Service contracts have a time duration - all contracts have service start date and end date.
Subscription is based on recurring business model.
Subscription can be for both products and services.
Subscription needs a contract to determine the price of the product and services.
Subscription comes with auto-renewal features.
Some businesses use a combination of subscription services and usage model where subscription fee is charged every period and transaction fee for every use.
Foundry Bean Global Work System support both subscription services and usage model .
Service Contracts search
Click “Contract search” to search the contracts.
Churns can be searched based on customer, contract , product and any combination of them.
Click “Search” to search the contract based on the above criteria. You can also search based on no criteria and in this case all contracts will show up.
You can click a contract number to open up the contract in your screen.
