Softrax Solutions

Revenue management is a fully integrated and automated process for managing the financial transactions associated with your customer relationships. Softrax revenue management solutions improve the accuracy, availability, and usability of your key financial information by eliminating spreadsheets and integrating the flow of revenue data across all your accounting processes.

Softrax solutions are based on a fundamental architectural advantage that enables automation to be applied independently to billing and revenue recognition in a coordinated way. As a result, very complex revenue models and the demands they place on your billing, recognition, allocation, scheduling, and compliance activities can be effectively automated in one system.

With Softrax you can easily control business models that create headaches for other systems, especially when it comes to managing deferred revenue, contract renewals, and issuing complex invoices. Because Softrax stores all revenue related information, your audit and analysis processes are always based on high integrity revenue data. By implementing Softrax you get a robust financial infrastructure that supports growth and innovation as you scale your business.

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Softrax® Solution highlights

Contract Management

All the details of the contract are managed throughout the contract life cycle, including terms for billing and revenue recognition
Sales orders and contract renewals are supported with multiple pricing based on volume or service level

Billing

Business models and customer billing can be customized by account
Automatic pricing based on contractual terms can be applied to any line item

Revenue Allocation

Accurate and consistent revenue booking
Contracts that have multiple elements and numerous revenue streams are assigned appropriate allocation and recognition schedules according to your business rules

Revenue Recognition

Revenue is booked and recognized in the appropriate fiscal accounting periods, according to accounting practices and regulations
Visibility into this process is provided with a transactional audit trail and reporting tools
Updates issued as new regulations from the SEC and FASB appear

Revenue Reporting

Access to detailed reports and audit trails, with visibility into revenue schedules to enable proactive revenue management

Support Compliance with Sarbanes-Oxley, SEC and FASB

Provide a transactional audit trail for SOX 404 assertions
Create a foundation for robust internal controls over revenue processes
Support compliance with revenue recognition rules (SOP 97-2, 98-9, 81-1, VSOE, SAB 101/ SAB 104, and EITF 00-21)
Identify and optimize revenue processes
Improve the integrity of revenue data
Better establish and enforce internal controls for revenue

3 STRATEGIES FOR SUCCESS

How to succeed
in challenging economic times

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BILLING STRATEGY

Commercial billing systems have lower re-bill rates, fewer late invoices, fewer inaccuracies than ERP systems, custom systems, or spreadsheets.

Billing and Revenue Management