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 Billing & Revenue Recognition

Billing & Revenue Recognition Software

Establish Independent, Coordinated Processes for Managing Billing and Revenue Recognition.

A state of the art revenue and billing system allows you to confidently and profitably bring innovative products and services to market. When companies offer new services, solutions, and purchasing options to their customers, they need the financial infrastructure to back it up. To be fully operational, today’s sophisticated business models typically require billing to be well integrated with customer management, contract information, and revenue recognition processes.

SOFTRAX integrates billing with all the information from your active customer contracts at the front end and revenue recognition accounting processes at the back end. In SOFTRAX, billing and revenue are separate, coordinated processes that can be controlled by independent business rules derived from your customer agreements. This provides enormous flexibility for how you package and sell your offerings. SOFTRAX even sends renewal quotes for customers to review well ahead of the actual invoice, to reduce billing inquiries and decrease days billing outstanding. As a result, SOFTRAX delivers efficiencies that other systems can’t provide. The impact is greater productivity, optimized revenue, and better customer service.

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SOFTRAX SOLUTION HIGHLIGHTS


Easily automate maintenance, milestone and recurring billing

  • Manage multi-faceted billing scenarios
  • Consolidate multiple recurring items into a single bill
  • Setup schedules across a contract

Revenue Accounting and Revenue Management

  • Control revenue general ledger account distribution
  • Account for complex adjustments
  • Automate journal entries for every billing and service activation event
  • Simplify compliance with complex accounting standards

Customize Billing to Your Customers’ Needs

  • Synchronize multiple bills and automatically:
  • Line up all your maintenance start and end dates
  • Pro-rate all the pricing associated with synchronized contracts

Support Sophisticated Pricing Models

  • Easily create and manage pricing models
  • Apply tiered volume discounts
  • Support variable pricing bands over the life of a contract
  • Gain visibility into how time-dependent pricing affects future account profitability

Gain total control over deferred revenue transactions

  • Completely automate revenue accounting tasks
  • Easily create and manage revenue schedules
  • Enable more sophisticated reporting and forecasting

Completely automate maintenance renewals

  • Optimize maintenance renewals through the entire customer life cycle
  • Instantly determine which customers or products are up for renewal
  • Make the renewal process easier for your customers
  • Easily incorporate complex pricing models

Powerful built in revenue recognition functionality

  • Automate even the most complex revenue calculations
  • Integrate complex deferred revenue transactions with your general ledger
  • Apply revenue recognition policies on an enterprise basis
  • Simplify compliance with vendor specific objective evidence (VSOE) requirements of SOP 97-2
  • Completely automate deferred revenue transactions
  • Completely automate maintenance renewals
  • Greatly facilitate reporting and forecasting
  • Support compliance with Sarbanes-Oxley, SEC and FASB

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