“We are adopting Softrax revenue manager for 606 because of several things, but mainly because the separation of order to cash versus order to revenue. And the Ability of 606 ability to do some of these synchronizing events with price books...We want to avoid that kind of risk of material misstatement or missing revenue due to
timing or allocations of amounts.”
“Softrax’ revenue management solutions will accelerate the financial reporting and certification process, making it possible to reduce the time it takes to close the books, while maintaining the accuracy and quality of the information. Softrax solutions provide enhanced visibility into our diverse revenue streams will enable us to continue to ensure compliance with current SEC and FASB regulations governing revenue recognition.”
"We probably had twice as many spreadsheets as products. So it got to be extremely unwieldy for us from the perspective of revenue recognition, accurate and timely invoicing, and forecasting renewals.”
"The revenue recognition and maintenance renewal functionality that Softrax provides will significantly enhance our existing financial systems and the revenue reporting capability will improve our efficiency."
"After an extensive evaluation process, we felt SOFTRAX was the only product on the market that addressed all the complexities related to software revenue recognition."
“Softrax has a nice audit trail. We can trace every single deferred revenue string back to a particular order, when it was done and by whom.”
These are just a few of the companies that rely on SOFTRAX products to meet their billing and revenue recognition challenges.