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Nitrobox Winter 2022 Product Update

Blog feature image for the Nitrobox Product update Winter 2022

Feature Highlights

Multi-phase plans

Map contract lifecycles by creating multiple phases such as trials, discounted, or full paid periods and specify the transitions between the phases.

Options update

Use the multi-price extension to define various prices and currencies in one option, edit prices when necessary and schedule price changes in advance.

OPOS management

Manage OPOS in the webportal: Complete and clear positions to avoid dunning and book discrepancies that reflect instantly in accounting.

Nitrobox Winter 2022 Product Update

Expanding the scope of billing and monetization features in the Nitrobox Webportal

Nitrobox had an incredible 2022 and was awarded as part of the Deloitte Fast 50, Germany, for the third year in a row which makes us really proud. We launched several significant new features and updated many more. To provide our users with an even better self-service experience, we continued to expand the functionality of the Nitrobox Webportal as well.

Cool new features

Create Plans with multiple Phases

Nitrobox subscription management software screenshot showing multiphases feature

To kickoff our feature updates and releases, we want to highlight a feature that will further enable our clients to create sophisticated digital business models. We call our newest solution Multi-phases. It allows users to configure and schedule the lifecycle stages of a contract with a variety of phases and to define the type of transition required between phases.

For example, in the image below, there are 3 phases with auto renewal after 24 months. The first phase is a free trial, which after 3 months becomes a reduced contract, which after 9 months becomes a full-price contract. At the end of the phase, the contract is then renewed for a further 12 months at the full price if it is not cancelled beforehand. By the way, this feature can also be used to offer discounts based on customer variables, not just time. 

Learn more about the Multi-phase feature in the Nitrobox documentation.

"Quality of Life" Options Management Update

Screenshot of nitrobox platform options feature update

To create an even better experience for billing digital business models, a key focus was on expanding the option management. The new option management now allows users to:

Multi-price extension

The multi-price extension added to one time and recurring options enables users to set various prices and currencies for different countries in one option. Example: 10 EUR for Germany and 8 EUR for France or 10 EUR for Germany and 114 SEK for Sweden.

Schedule price changes

Price changes can now be scheduled in advance when using the new "Valid from" data field that was added to the options mask. This improvement allows users to plan price changes that will automatically become active on the specified date.

View price history

A price history has been added to the options mask, which allows users to see which prices were valid in which time period.

Change prices

It's now possible to change prices for options that are in use. This allows for price adjustment when needed, e.g. for inflation reasons.

Set net/gross prices

Users can now decide whether they want to work with net or gross prices, as a drop-down menu has been added to the "Price" data field.

Learn more about Option management in the Nitrobox documentation.

Manage OPOS directly in the Webportal

As we push to make our accounting solutions more self-service, we are consistently releasing essential UI/UX updates to our webportal so that users can manage their accounts receivable without the assistance of developers. OPOS management is one such feature. With the OPOS management update users can now:

Complete and clear OPOS

OPOS can now be processed via our webportal. This function helps users avoid unnecessary dunning processes, for example caused by unbalanced payments due to overpayments or underpayments. Instead, OPOS can now be completed and cleared manually.

Post payment differences

To record the payment differences, users can now manually post them in the webportal, e.g. as a retroactive discount to balance the OPOS. These postings are reflected in the Nitrobox ledger or in the users’ general ledger, resulting in clear and correct accounting.

Learn more about OPOS management in the Nitrobox documentation.

Further Updates and Improvements

Properties search feature release

Nitrobox webportal screenshot of properties search engine feature

The search function has now been extended to “Properties”. These are optional user-defined data fields that can be listed on customer documents such as contracts or invoices, or used for reporting purposes. The updated search allows users to search and filter their custom properties, which highly customizes the search.

Learn more about Properties and the Filter functions in the Nitrobox documentation.

Dunning feature update

Nitrobox webportal screenshot of dunning feature

Dunning documents can now be accessed as PDF files in the webportal, which were previously only accessible via API. This helps users see the current customer and dunning status at a glance and view all related documents such as payment reminders, first reminder and second reminder etc. 

Document Aggregation

Nitrobox software Document Aggregation feature screenshot

Document aggregation is now also accessible in our Webportal. This feature allows users to make additional sums visible on invoice documents. This involves calculating and displaying amount values of invoice elements such as item groups, gross, net, tax amounts, discounts and many more to make documents more informative and customer friendly. A simple example: displaying the totaled 7% and 19% tax amounts (Germany) below the invoice total to see the tax amounts at a glance.

Learn more about document aggregation in the Nitrobox documentation.

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