News and Events

03/26/10

AFS FINANCIAL SOLUTIONS ANNOUNCES THE RELEASE OF  ADVANCED FINANCIALS FOR SOFTRAX®

Integrates Seamlessly with SOFTRAX® Billing and Revenue Recognition Solutions

Canton, Mass., - March 26, 2010 – AFS Financial Solutions Inc. (“AFS”), a leading provider of enterprise revenue management and billing solutions, today announced the availability of Advanced Financials for SOFTRAX® Billing and Revenue Management solutions. This financials suite is specifically designed to meet the needs of companies in software, SaaS, business process outsourcing, e-commerce, online content, research, e-learning, and related industries.

“When we acquired Softrax, one of the opportunities we saw was to offer our SOA-based financial solutions for those Softrax customers who need more sophisticated financial reporting functionality. We are now glad to announce that this solution is ready for deployment” said Kurien Jacob, CEO of AFS Technologies.

This release of SOFTRAX®Advanced Financials demonstrates a continued commitment by AFS to delivering innovative financial solutions. New features and improvements over previous SOFTRAX® Financials include:

• Powerful Credit and Collections Capabilities – An entirely new set of functionality for credit and collections has been introduced in this new advanced financials package. This new financials package provides a broad set of functionality to streamline cash receipt processing flow, lowering your collection costs while increasing your cash position.
• General Ledger Enhancements – The new financials package provides an advanced set of controls and increased governance over your general ledger.
• Enhanced Presentation Management – A new, advanced presentation management system provides administrators the flexibility to manage nearly every aspect of the end-user presentation on a role-by-role basis. This lowers the overall cost of administration for the entire application, and allows for customized role-based presentation.
• Flexible and Comprehensive Reporting – A full-featured, highly configurable financial report writing module is included for the creation of custom financial statements, such as Income Statements, Balance Sheets, and Statement of Cash Flows. A comprehensive set of pre-packaged reports written in Crystal Reports are available out-of-the-box, and all reports have the ability to deliver data output to a wide variety of devices in a broad set of export formats, including Microsoft Excel, Adobe Acrobat, HTML, Crystal Reports, Word, tab-delimited, Rich Text, XML or plain text formats.
• Flexibility of License or Subscription Models – For companies looking to gain flexibility in deployment or licensing, SOFTRAX®Advanced Financials can be deployed on a monthly subscription model, or as an ongoing license model. SOFTRAX® Advanced Financials will be available effective immediately.

About AFS Financial Solutions
AFS Financial Solutions Inc. is a leading provider of enterprise revenue management and billing solutions that fundamentally change the way companies manage, analyze, report and forecast their revenue. SOFTRAX® solutions automate the entire revenue cycle, from contract and order management, billing and contract renewals through revenue recognition, reporting, and forecasting. Hundreds of corporations benefit from using SOFTRAX® solutions to optimize their billing, maximize their revenue, reduce operating expenses, comply with revenue recognition regulations and Sarbanes-Oxley requirements, and gain unprecedented visibility into their business performance. AFS Financial Solutions Inc., headquartered in Canton, MA is a wholly-owned subsidiary of AFS Technologies Inc. More information can be found at www.afsfinancials.com, www.revenuerecognition.com and by calling 1.800.533.2312.

About AFS Technologies, Inc.
AFS Technologies Inc. is the leading provider of business enterprise and on-demand software solutions. The company serves over 1,200 customers across the Americas with a portfolio of solutions for the Food, Beverage and High Technology segments. AFS Food and Beverage solutions are designed to reduce costs, improve efficiency, increase sales and margins, streamline internal processes, and assist in regulatory compliance. All AFS solutions utilize service oriented architecture (SOA) built with Microsoft .NET framework technology. With a focus on modular design, the solutions allow customers in manufacturing, sales agencies, distribution, and complex software companies the flexibility to upgrade specific elements of the software without affecting the rest of the system. For additional information, please visit www.afsi.com or call 877.821.3007.