In This Issue
Welcome to Softrax eNews, the Inside Track on Revenue Management.
IFRS offers no relief for complex revenue processes. A new survey from RevenueRecognition.com "Risk and Complexity in Revenue Reporting under US and International Standards," summarizes results from senior financial executives in the US and 34 other countries. More than twice as many respondents from both US and International groups identified revenue recognition among nine key processes as the most complex, most prone to error, and most material to financial statements. These results show the assumption that revenue recognition will get much easier under IFRS is clearly a misperception.
Automating revenue recognition processes provides tangible improvements. A new white paper from BearingPoint and Softrax, "Laying the Foundation for Automating Revenue Accounting," explains why companies should automate their revenue processes, and how to successfully manage each phase of the implementation process from strategy to scope, design, and execution.
Learn how to get started – Softrax Product Tours
Take our ten-minute interactive tours to see how automating billing and revenue recognition processes can lower costs, enhance compliance, and improve overall performance.
Best wishes for a happy holiday season,
Softrax
Risk and Complexity in Revenue Reporting under US and International Standards
A new survey from RevenueRecognition.com shows that US and non-US companies have similar levels of risk and complexity in their revenue reporting processes. Both groups rated revenue recognition the most complex, most prone to error, and most material to financial statements by a margin of at least 2 to1 over other key processes. Companies from countries where IFRS is in force rated the relative risk and complexity in revenue recognition accounting higher by an even 
wider margin.
Live Webcast: COSO Project 2008 Update:
Guidance on Internal Controls
On December 18th at 1:00 p.m. Eastern Time, Trent Gazzaway, Managing Partner, Corporate Governance, Grant Thornton LLP, and project leader to the COSO initiative, will provide a truly unique insider’s understanding of this initiative. In addition, Trent will provide insight into how companies can implement this guidance 
for themselves, and understand the underpinnings of monitoring so they can build it into their normal business processes.
Laying the Foundation for Automating Revenue Accounting
A new white paper from BearingPoint and Softrax Corp. explains why companies should automate their revenue processes, and how to successfully manage each phase of the implementation process from strategy to scope, design, and execution.
The Milestone Method: U.S. GAAP?
Is it GAAP? Will there be new guidance published on the application of this method? And what should you be aware when using this method? Renowned Revenue Recognition expert, Tony Sondhi, to discuss this 
critical issue in accounting under U.S. GAAP.
The Essential Revenue Management Roadmap
Erik Stone, Managing Director, Protiviti, provides an insider’s perspective on the key financial, operation and regulatory considerations critical to the implementation of a closed-loop revenue recognition process.
Linkage of Contracts: GAAP versus IFRS
Renowned Revenue Recognition expert and member of the Emerging Issues Task Force of FASB, Dr. Sondhi discusses the IFRIC Project on Linkage of Contracts, examining how US GAAP accounting guidance for linkage – as defined primarily by SOP 81-1 and TPA 5100.39 – compares to international standards and practice. He also discusses potential implications for Revenue Recognition under merged standards.
Accounting for Concessions: How Great Customer Service Can Come Back to Haunt You —Featured on RevenueRecognition.com
The issue of concessions can make a mess of your revenue accounting, but it’s something that many companies face every day as they try to make their customers happy. This article offers advice on creating effective policies and controls to avoid making concessions, 
and what to do when you make one anyway.
SPOTLIGHT
Complete Billing and Revenue Management Solutions
Are you managing innovative business models with an old school financial infrastructure? Softrax provides end-to-end solutions to manage operational and accounting processes such as revenue recognition, complex billing, contract 
renewals, order management and more.
(Approximately 10 minutes)
Revenue Recognition for ERP
Does your ERP system do revenue? Working in concert with your existing ERP and Financials infrastructure, Softrax Revenue Manager fully automates revenue recognition, reporting, and forecasting throughout the enterprise.
(Approximately 10 minutes)
Is a Subscription Accounting Model Right for You? —Featured on RevenueRecognition.com
Subscription accounting is increasingly being used by many different businesses – both consumer and B2B – to extend customer relationships, smooth revenue growth, bring innovative products and services to market, and supplement more traditional offerings. Find out if this approach will work for your business.
Automating Complex Billing and Revenue Recognition
Managing rapid growth, complicated pricing, and changes to their business model required this mobile messaging provider to eliminate manual accounting processes. The deployment of a Softrax solution reduced billing time from two weeks to two days, improved cash flows and the accuracy of revenue processes, freed personnel to spend time on more meaningful activities, helped prepare for a new acquisition and enabled them to scale without additional personnel. 
Upcoming Educational Seminars
2008 Executive Seminars on Revenue Recognition
Softrax is a sponsor of the following executive education providers and these CPE accredited courses.
Currently a member of the Emerging Issues Task Force (EITF) of the Financial Accounting Standards Board (FASB), Dr. Sondhi’s events are designed for CFOs, controllers, financial reporting managers and others responsible for understanding and applying current accounting rules.
Advanced Topics in Software Revenue Recognition
December 15 & 16, San Jose, CA
+ more information and registration
Accounting for Software Revenue Recognition
December 4, Boston, MA
+ more information and registration
To receive $100 off the EEI conference only price, enter priority code E8264/SFTX when registering.
