In This Issue
Welcome to Softrax eNews, the Inside Track on Revenue Management.
34% of companies are at High Risk for errors and inaccuracies in their reporting processes. That’s according to the latest survey of 586 senior financial executives by RevenueRecognition.com in association with IDC. The full report "Risks in Revenue Reporting," discusses key drivers of risk and complexity in revenue reporting, explores the operational challenges of complex revenue, evaluates the role of technology and data fragmentation in contributing to risk, and offers direction on reducing risk.
If you are interested in assessing your own risk levels, Softrax now has an online Revenue Risk Checklist to help expose hidden weaknesses and reduce the potential for errors and compliance issues. This checklist generates a completely customized report that highlights key issues, provides recommendations, and explains what increases your risk and why.
Softrax will be at Oracle OpenWorld 2008 this month. If you’re there too, we hope that you will visit us in Booth 230 and attend the Softrax presentation at the Unconference. If you can’t make the show, you can hear the presentation, Managing Revenue Recognition in Concert with Oracle Financials on demand at our website.
Have a great fall!
NEW! RevenueRecognition.com Survey: Risks in Revenue Reporting
A June 2008 survey of 586 business leaders by RevenueRecognition.com in association with IDC found that 34% of responding companies were in the High Risk category for errors and inaccuracies in their revenue reporting processes. The report discusses key drivers of risk and complexity in revenue reporting, explores the operational challenges of complex revenue, evaluates the role of technology and data fragmentation in contributing to risk, and offers direction on reducing risk.
Live Webcast: The Essential Revenue Management Roadmap
Join us as Erik Stone, Managing Director, Protiviti, shares his insider’s perspective on the key financial, operational and regulatory considerations critical to the implementation of a closed-loop revenue recognition process. He’ll share essential strategies on getting started, and getting it right.
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.
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.
COSO Project 2008 Update: Guidance on Internal Controls
Trent Gazzaway, Managing Partner, Corporate Governance, Grant Thornton LLP, and project leader to the COSO initiative provides an insider’s analysis of this updated guidance on internal controls.
Managing Revenue Recognition in Concert with Oracle Financials
Learn how you can enhance Oracle Financials with advanced revenue recognition capabilities. Featured speaker is Dr. Richard Moore, Director of Revenue Solutions for Softrax.
Linkage of Contracts: GAAP versus IFRS
Revenue expert, Tony Sondhi, a member of the Emerging Issues Task Force of FASB, presents a general comparison of U.S. & IFRS standards, and discusses how a combined standard might impact technology companies immediately.
Automating Accounting to Improve Billing, Renewals and Channel Performance
This company selected Softrax to centralize and automate a complex accounting function involving resellers worldwide. It also employs Softrax to drive maintenance renewal revenue directly from the finance department, and to provide business analyses for improved product and channel performance.
Industry Events
Oracle OpenWorld 2008
September 21-25th, Moscone Center, San Francisco
Softrax will present powerful Revenue Recognition Automation capabilities at this industry event.
Visit us at booth #230 for a product tour of Softrax Revenue Manager.
Join us at the Oracle Unconference as Dr. Richard Moore, Softrax Director of Revenue Management Solutions presents a session on Managing Revenue Recognition in Concert with Oracle Financials.
September 23 at 2PM, Moscone West, 3rd Floor, Overlook 1
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.
Software Revenue Recognition: September 25 & 26, Jacksonville, FL | October 23 & 24, San Jose, CA
IASB – Introduction: October 1, San Francisco, CA
FASB and EITF Updates: October 2 & 3, San Francisco, CA
Advanced Topics in Acquisition Accounting: November 6 & 7, Las Vegas, NV
General Revenue Recognition: November 20 & 21, San Jose, CA
Advanced Topics in Software Revenue Recognition: December 15 & 16, San Jose, CA
+ more information and registration
EEI: Accounting for Software Revenue Recognition
Scheduled dates and cities: November 12, San Francisco, CA | December 4, Boston, MA
+ more information and registration
To receive $100 off the EEI conference only price, enter priority code E8264/SFTX when registering.
