Many industries are challenged by complex revenue accounting regulations and processes, which are now highly scrutinized as a result of Sarbanes-Oxley. Offerings in these industries often comprise long-term contractual arrangements that include multiple components and future commitments. Those future commitments could be services or access rights delivered over time, volume discounts, service upgrades, installation or training services, support and maintenance services, warranties, and future enhancements.
Companies with such issues can be found in a wide range of industries, including:
New accounting guidance and changing business practices make it difficult to follow the intricate details of revenue management - the application of revenue recognition rules, accurate revenue allocation, fair value measurement, revenue scheduling, and forecasting. Effective revenue management is further complicated by the audit and documentation requirements of the Sarbanes-Oxley Act.
SOFTRAX provides the only financial infrastructure solutions capable of providing the specialized billing and revenue management capabilities that evolving business models, customer relationships, and accounting regulations demand. As a result, SOFTRAX solutions can lower costs, increase revenue, and enhance compliance with Sarbanes-Oxley requirements and key revenue recognition guidelines like ASU 2014-09.
Visit our product overview to learn about our end-to-end and modular solutions -- and how they integrate with your existing infrastructure.