E-Learning

Successful eLearning companies can have multiple revenue streams including: course development services, software and intellectual property licensing, subscriptions, and even e-commerce for courses offered to the public over the Internet. Each of these models presents different accounting issues involving contracts, billing, usage tracking, and revenue accounting. Combined, they quickly go beyond the capabilities of a traditional financial system to manage without a proliferation of spreadsheets. As a result, revenue can fall through the cracks and performance information can be difficult to produce, problems that worsen as business grows.

Softrax simplifies things for you and your customers

Softrax meets the many accounting and finance challenges involved in managing multiple revenue streams. Key contract terms are tracked across thousands of accounts each with unique usage rights, pricing, and renewal periods. Billing and revenue recognition are driven independently and directly from contract data. Recurring, variable, and one-time charges can be included on a single itemized bill, uniquely presented according to the needs of each customer. Renewal information is monitored in detail so notices can be sent out in advance, increasing renewal rates and minimizing payment delays. Spreadsheet accounting is a thing of the past.

In addition, ongoing account information is captured in a comprehensive database providing unprecedented performance analysis and forecasting capabilities. As a result, financial executives can optimize revenue, lower costs, and better manage the true growth drivers of the business.

Key Benefits

Simplify complex billing Track subscriber contract data Easily manage hundreds of price books Automate revenue and expense accounting Tailor bill presentation to customer preferences Integrate easily with front-end subscriber and information management systems Enhance compliance initiatives Increase insight to improve executive decision-making

Learn more about how Softrax can fundamentally improve your billing and revenue management processes.